Temasek's 2020 portfolio and shareholder return are both negative, partly due to Covid-19. Temasek - the investment company of the Government of Singapore - just ended fiscal year 2020 on March 31, with a portfolio value (NPV) of S $ 306 billion, down more than 2% compared to 2019. Portfolio Main investment is concentrated in Asia, accounting for 66% of the proportion. In which, China and Singapore continued to be the two leading countries, accounting for 29% and 24% respectively.
If they reach an agreement, Mukesh Ambani and Jeff Bezos will turn from rivals to allies, creating a giant retail group in India. According to Bloomberg, Indian billionaire Mukesh Ambani is proposing to sell his stake worth about $ 20 billion in Reliance Retail - his retail company to Amazon. Amazon held numerous discussions about investing in Reliance Retail and expressed interest in a potential transaction. Ambani is willing to sell up to 40% of its shares to Amazon.
The preferential package of 23 billion USD is the next step after the program to attract companies to move supply chains out of China launched by India earlier this year. Prime Minister Narendra Modi's government will provide manufacturing-related incentives to automakers, solar cells and steel specifically for consumer equipment companies, according to Bloomberg's sources. In addition, specialized textile, food processing and pharmaceutical sectors are also being considered to be included in the list of preferential packages.
The decision to choose Jane Fraser as CEO of Citigroup yesterday (September 10) has gone down in the history of the US banking industry. Fraser currently heads Citi's retail banking business. She will take over as CEO Citigroup in February 2021, replacing CEO Michael Corbat when he plans to retire after 37 years here.
According to the latest report by Rong Viet Securities Company (VDSC), in 2019, Techcombank earned 2,380 billion VND from life insurance fees, accounting for more than 13.5% of the banking industry's sales. Instead of using people from a partner insurance company, Techcombank is following the model of a bank employee directly introducing, consulting and taking care of insurance contracts for customers.
After being forced to sell its business in the US, ByteDance wanted to redirect its investment to the Singapore market. According to Bloomberg sources, ByteDance - owner of short video application TikTok is planning to make Singapore a leader in business activities in Asia. This is part of TikTok's global expansion.
Disinfection of public spaces and cleaning of surfaces are considered to be effective methods of reducing Covid-19 infection. This will increase the cost of cleaning and cleaning commercial buildings globally in 2020, according to a survey by real estate research organization Propmodo. More than half of the respondents assessed that the cost of cleaning has increased by 10% or more, which is the largest increase in the management budget for buildings.
The Chinese government will invest about $ 103.8 billion in key projects, of which more than 40% is from bank loans. The Ministry of Information Technology and Technology (MIIT) of China today announced it would invest about $ 103.8 billion in 105 projects across the country, of which about $ 43.9 billion came from bank loans. .
The DJIA and S&P 500 index rose slightly yesterday, but at the close, they still fell 2% on average, mainly due to technology stocks. Closing yesterday (September 11), the DJIA index rose 0.48% to 27,665 points. The S&P 500 rose 0.05% to 3,340 points. Industrial and financial stocks were the driving force for this index yesterday, with increases of 1.39% and 0.76% respectively. Meanwhile, the Nasdaq fell 0.6% to 10,853 points.
The TTA code of Truong Thanh Group will be listed on HoSE on September 18, with a market capitalization in the first session of more than VND 2,400 billion. Truong Thanh Investment Construction and Development Joint Stock Company will list 135 million shares on the Ho Chi Minh City Stock Exchange (HoSE) on September 18, with the first session reference price of 18,000 VND.
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