Carlyle Group Raises $1.04B For New Asian Growth Fund

Carlyle Group on Tuesday said it raised $1.04 billion for a new fund targeting investments in fast-growing Asian companies, finding appetite among pension funds and financial institutions for exposure to China and India.The new fund is a bet on the resilience of Asia's underlying economic growth in the face of a global downturn. Focused primarily on China and India, Carlyle's team is looking to pick companies that have emerged from the financial crisis relatively unscathed and with potential for rapid growth.'This is a much better time for investing,' said Wayne Tsou, head of Carlyle's growth team in Asia, in an interview. 'After this economic stress test we're seeing which firms will be able to succeed.'The new Carlyle Asia Growth Partners IV is about 50% bigger than the previous Asia growth fund, which closed at $680 million in June 2006. Tsou says over two and a half years that fund invested in 22 companies in the region. Carlyle hopes to put the new fund's $1.04 billion to work over three to five years.Indicative of Carlyle's focus on domestic demand in China, the firm has already made its first investment with the new fund, a $20 million deal to invest in Chinese women's fashion retailer Shenzhen Ellassay Apparel Industrial Co.Carlyle was one of the earliest private equity investors in Asia, opening up its first office in Hong Kong in 1998. It also operates buyout and real-estate funds targeting Asia.'Asia remains a core focus of our global business, and Carlyle continues to devote more resources to China and India,' said Carlyle founder David Rubenstein in a statement.Asia's private equity scene has been dominated by global firms. Near the peak of the market in 2007 and 2008, a rush of capital from hedge funds and investment banks into private equity deals pushed valuations sky high. They have since fallen as the hot money has dissipated.Limited partners, the investors in private equity funds, are also becoming more selective, says Tsou. Many big government pension funds and other limited partners have set up offices in Asia to keep closer watch on local developments and are eager to 'kick the tires' by visiting portfolio companies, he says.Tsou says most of the companies in Carlyle's Asia growth portfolio are growing at rates of 20% to 50% in profit and revenue despite the economic downturn.Still, Carlyle's Asia growth fund investments in Asia haven't always gone smoothly. Carlyle saw its $25 million investment in China's Credit Orienwise Group Ltd. sour as the overleveraged credit guarantee firm struggled with losses and the company admitted to fraud taking place at a unit.Carlyle's Tsou resigned from the board, but is still working with management to address the issues. Tsou said Credit Orienwise's prospects are 'improving.'Still, for growth funds an occasional soured deal can be balanced out by outsized returns on the rest of its portfolio. Carlyle's growth team has had several big wins in the past including an exit from Nasdaq-listed Chinese online travel firm Ctrip.com International Ltd. and its ongoing investment in Claris Lifesciences Ltd., a pharmaceutical company in India.'Investors were very apprehensive about emerging markets before,' said Tsou. 'But China and India are now a less well-kept secret as investors begin to understand the risk-adjusted returns of growth funds.'

China may invest $10 billion in Brazil state oil company

China may invest $10 billion in Brazil state oil company, Patrobras, on terms that the Latin American company cannot help but find attractive. In advance of the investment, China has secured 100,000 to 160,000 barrels of crude a day, to be sold to the world’s most populous nation at market prices. The parties have not said as much, but the transactions are certainly related. Brazil may end up investing over $170 billion in drilling for off-shore oil reserves. The nation’s deep water Tupi subsalt field may be one of the largest pools of crude in the world

Opportunities in adversity - Improving your performance - Ernst & Young - Global

Opportunities in adversity - Improving your performance - Ernst & Young - Global: "Business initiatives are being accelerated"

Opportunities in adversity - Improving your performance - Ernst & Young - Global

Opportunities in adversity - Improving your performance - Ernst & Young - Global

Arcelor Shifts Focus to Emerging Economies

ArcelorMittal, the world's largest steel producer, is shifting focus from the developed world to lower-cost developing regions, acknowledging that growth prospects are dimmer in North America and Europe.

'We must recognize that these are not long-term growth markets. It will be China and other emerging markets that will drive future growth for our industry,

The World’s Largest Security ExpoCPSE2009

The World’s Largest Security ExpoCPSE2009 will enjoy larger exhibition areas, more booths, and exhibitors from more countries and regions. Specifically, the exhibition area wil amount to 90,000m2 and booth number to more than 4000. From the aspect of exhibition areas, CPSE can be listed as one of the three largest exhibitions in the world together with ISC West and IFSEC. In the coming November, over 1000 exhibitors from 20 countries and regions composed of best Chinese manufacturers and international brands will turn up at CPSE2009. The show is looking at 55,000 professional visitors.

Date: 1-4 Nov 2009 (Every Odd Year)Location: Shenzhen Convention & Exhibition Center, China90,000 m2 Exhibition Area1,000 Exhibitors From 20 Countries55,000 Professional Visitors From 90 CountriesConcurrent Events:The CPSE Golden Excellence Awards 2009CPS Forum 2009- The 8th China Public Security ForumThe Public Security Academic ForumThe China Intelligent Transportation ForumThe Fire Science ConferenceThe Asia Anti-Counterfeiting Annual Meeting

architecure

Coca-Cola, GE, Wal-Mart may seek China IPO, says UBS AG

Coca-Cola Co., General Electric Co. Wal-Mart Stores Inc. are among U.S. companies that may seek to list on China's stock exchanges, UBS AG said.

World Bank raises China forecast The World Bank has raised its forecast for growth in China this year from 6.5% to 7.2% amid signs that the economy is

The World Bank has raised its forecast for growth in China this year from 6.5% to 7.2% amid signs that the economy is doing better than expected.

Brazil, Russia, India and China

Brazil, Russia, India and China, the leading emerging economies known as the BRIC countries, will be the best places to invest, Goldman’s O’Neill said, because of their “positive dynamics that are not dependent on the benefits of monetary policy.”

Swiming Center

Olympic Center

Grand National Performing Center

cctv

shanghai gloal finicial center

jiang mao building

Advantage of outsourcing to China

Advantage of outsourcing to China

Find talent people and state of art technology

Proven success as an outsourcing provider

Meet or exceeded expectations in cost savings, quality, supplier flexibility and transparency

faster speed to market

Establishing and managing outsourcing functions

Enhance further its ability to improve market share and growth

Foreign players invited aboard railway express

The Ministry of Railways will spend an estimated 3 trillion yuan (HK$3.4 trillion) to expand and upgrade its rail network over the next five years. While much of this funding will come from the government or through debt, China will still need up to 1 trillion yuan from private and foreign sources to ensure that projects stay on schedule. The country will increasingly need to turn to these sources to fill the gap, opening up enormous opportunities for them as well as for rail equipment and systems makers.

China could build a "green economy" over the next two decades

Technologies commercially available today could help China to reduce its projected oil imports by up to 30 to 40 percent, cut demand for coal by 40 percent, and reduce greenhouse gases by up to 50 percent in 2030. China could also emerge as a global leader in green technologies such as electric vehicles.

The importance of staying ahead of the game

Nearly 1 billion of China's inhabitants will live in urban centers. This huge market will experience rising incomes and increased gross domestic product (GDP), and a significant growth in fixed-asset investment.

Urban China will account for around 20 percent of global energy consumption and up to one-quarter of the growth in oil demand.

Up to 170 cities could meet the planning criteria for building new urban transit systems - more than twice the current number in Europe.

China will have paved up to 5 billion square meters of road and laid up to 28,000 kilometers of metro rail.

outsourcing destination

China currently accounts for less than 10 percent of the global market for the offshoring and outsourcing of services, which reached more than US$60 billion in 2007. While the industry has expanded rapidly in recent years, it is not growing quickly enough to achieve China’s aspiration of becoming a leading global offshoring and outsourcing destination

China to have the world's fourth-largest number of wealthy households by 2015

By 2015, China is expected to have more than 4 million wealthy households, making it the world's fourth-largest country in terms of its number of wealthy households after the United States, Japan, and the United Kingdom, says a new report by global management consultants McKinsey & Company. The number of wealthy households–defined as urban households with annual income in excess of 250,000 renminbi–reached 1.6 million in 2008.

IBM opened a worldwide rail innovation center in Beijing, China

IBM opened a worldwide rail innovation center in Beijing, China. Already members include Tsinghua University, Michigan Technological University, Professor Joseph M. Sussman of MIT, Railinc, RMI, Motorola, Sabre, the California High Speed Rail Authority, and Olivier G. Maurel, CIO of ILOG (an IBM company) and former CIO of SNCF in France.

They’ll work on are advanced data analytics for scheduling and predictive maintenance, cell phone enabled passenger service, wireless sensors on bearings and axles, digital video systems that ensure a clear track ahead and automatically respond to danger — to create rail systems that will support economic vitality, improved quality of life through reduced road congestion, and environmental sustainability.

China Telecoms market

China surpassed Japan in 2004 as the market with the second most broadband lines after the US. In mid-2008. China became the largest broadband market in the world, finally passing the US. Going into 2009, China's broadband subscriber population passed the 80 million milestone. China has also become the top DSL market in the world. Despite this huge subscriber base, penetration remains comparatively low, meaning there is still much room for growth. China tied the US as the online population leader in early 2008 as the number of Internet users soared to 221 million. Such explosive growth in Internet use comes despite government efforts to block access to material considered subversive or pornographic. Entering 2009, the online population reached 300 million and growth showed little sign of slowing.

City of Dreams in Macau Opens with DEQ System's EZ Baccarat Tables

Quebec-based DEQ Systems Corp., a provider of table game bonusing, jackpot and loyalty solutions, announced that five of its EZ Baccarat no commission baccarat with Dragon 7 side bet have been installed and are in operation at Melco Crown Entertainment's newest property in Macau, City of Dreams. City of Dreams operates an estimated 450 tables of which 80% are baccarat. EZ Baccarat is a method of accelerating the speed of baccarat by eliminating the commission.

Eldorado Acquires Gold Field's 19.9% Stake in Sino Gold Mining Venture

Vancouver-based Eldorado Gold Corporation announced that it has entered into an agreement to acquire 57.9 million shares or 19.9% of Sino Gold Mining Limited, an Australian public company focused on the exploration and production of gold in China. Sino Gold has two operating mines, Jinfeng and White Mountain, in China. Eldorado will acquire the shares from South-Africa’s Gold Fields Limited in a private transaction in exchange for 27.8 million Eldorado shares. Eldorado is a gold production, exploration and development company with businesses in Brazil, China, Greece and Turkey.

Chinalco confirms deal breakup with Rio Tinto

BEIJING, June 5 -- Aluminum Corp. of China, or Chinalco, confirmed Friday that Australian mining firm Rio Tinto has scrapped the proposed 19.5 billion U.S. dollars of investment by Chinalco, and Rio Tinto would pay a break fee of 195 million U.S. dollars to the Chinese aluminum maker.

China Comes to the Rescue for Corporate America

It's not just the U.S. government that's been turning to China for a helping hand to weather the financial storm.Troubled American companies also look to China, for its vast domestic market of 1.3 billion potential customers.

China Investment Corp., is also showing confidence in another established American brand. The investment arm of China's sovereign wealth fund will be the main buyer of Morgan Stanley's $2.2 billion common stock offering, buying 44.7 million shares (of a total 80.2 million shares) for $1.2 billion. That will bring CIC's stake in the Wall Street bank back up to about 9.9%, the same as its original stake in Morgan Stanley, which was purchased in 2007 for $5.6 billion. (CIC's stake was diluted after Morgan Stanley sold shares to Mitsubishi UFJ Financial Group last fall.)

Hummer sport-utility brand to Chinese equipment maker

General Motors Corp. said it plans to sell the Hummer sport-utility brand to Chinese equipment maker Sichuan Tengzhong Heavy Industrial Machinery Co.

China is the biggest foreign owner of U.S.

BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.
A major goal of Geithner's maiden visit to China as Treasury chief is to allay concerns that Washington's bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China's total U.S. dollar-denominated investments could be twice as high.
"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

world's largest steel producer and the biggest importer of iron ore

China is the world's largest steel producer and the biggest importer of iron ore, representing 45% of all imports in 2007.The industry dynamics is now turning positive, as China begins to rebuild iron-ore inventories. China’s iron imports rose 33% in April, boosting shipping activity in the past three weeks. The Baltic Dry Index, which measures dry bulk shipping rates on 40 routes across the world, hit a 7-month high on Tuesday. The index has gained 68% since the April lows, after a 92% plunge last year.