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04.05.26 - 04:18
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Hong Kong Exchange Fund records smallest gain in 5 quarters amid Middle East crisis (SCMP)
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Hong Kong's Exchange Fund, the war chest used to defend the local currency, reported its smallest investment gain in five quarters as the Middle East crisis weighed on stock market performance.
The fund gained HK$34.5 billion (US$4.4 billion) in the first quarter, 56 per cent lower than HK$79.2 billion a year earlier, according to data released by the Hong Kong Monetary Authority (HKMA) on Monday. The fund still managed to report its fifth consecutive quarterly gain, but it was the smallest gain......
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02.05.26 - 22:42
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Government notifies FDI changes on China funds (Times of India)
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India has eased foreign investment rules, allowing up to 100% FDI in insurance and relaxing norms for investments from neighbouring countries. Companies with up to 10% Chinese holding can now invest via the automatic route, though entities registered in China itself are excluded. These changes aim to boost capital inflows amidst a weakening rupee....
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02.05.26 - 13:12
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Wrexham AFC used taxpayer funds for pitch upgrades not mentioned in initial grant (The Guardian)
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Documents made no reference to pitch works later added to £18m deal, with club spending £1.7m on upgradesWrexham AFC, the football club part-owned by Hollywood stars Ryan Reynolds and Rob Mac, used taxpayer funds to re-lay its pitch, even though initial grant documents assessing the state investment did not make reference to it.The club has been awarded £18m in grants, with the first £3.8m tranche in February 2022. However, legally required state aid documents relating to that initial grant made no reference to the pitch works. Continue reading......
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02.05.26 - 11:54
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European countries still expect to lose money at World Cup despite prize fund increase (The Guardian)
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European nations wanted more merit-based prize moneyHigh costs of travel and hotels will exceed Fifa payoutsA number of leading European countries still expect to lose money at the World Cup despite Fifa increasing the prize and participation fund by $112m (£82m) this week.The main host federation, US Soccer, is also understood to be forecasting an operational loss on the tournament, although that will be more than offset by a projected $100m windfall from a revenue-sharing agreement from ticket sales with Fifa that will also benefit the two other co-hosts, Canada and Mexico. Continue reading......
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