InstarAGF Asset Management announced the initial closure of its C$372 million fundraising for InstarAGF Essential Infrastructure Fund. The fund aims to purchase power, social and civil infrastructure assets and amenities with ecological downside protection.
Indian smart phone market is witnessing robust growth rate and attracting foreign venture capitalists (VCs). The home-grown apps are creating more demand for venture capital. India is second largest market for smartphones after China.
Reserve Bank of India (RBI) is seeking an approval from Union Finance Ministry for easing capital restrictions on Asset Reconstruction Companies (ARCs). RBI has recommended Union Finance Ministry to raise the cap on sponsor's holding in asset reconstruction companies.
Indian Rupee further fell in a narrow range and was nearing its record low. On the other hand, stocks on the Indian bourses staged a recovery. The S&P BSE Sensex was up 0.8 percent paring intraday loss of 1.2 percent. Overseas investors continued to offload in the Indian stock markets.
A capital gains tax set to take effect in April 2015 which would be levied on the homes sold to people living abroad could diminish the status of London as a property magnet for foreign investors, Bloomberg reported.
Ghana released information on seven-year bonds valued at around US$98 million.
Foreign investors, such as China and Japan, have started divesting their US bond holdings.
Vietnam is looking for expansion in its stock market from foreign investors after restrictions on foreign ownership limit is considered by its government.