August, 2020

• 25 August

  Mubadala, Kohlberg ink deal to buy majority stake in US pharma firm

  

  ABU DHABI / WAM PCI Pharma Services (PCI), a leading pharmaceutical and biopharmaceutical global supply chain solutions provider, and portfolio company of Partners Group, announced on Monday the signing of a definitive agreement for the acquisition of majority stake in the company by Kohlberg & Company, LLC (Kohlberg). Kohlberg is a leading private equity firm headquartered in Mount Kisco, New ...

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• 25 August

  Oil rises as dual storms shut production in US Gulf coast

  

  Bloomberg Oil edged higher as production was disrupted by two storms approaching the US Gulf Coast. Futures rose 0.8% in New York. Almost 58% of crude output, or more than 1 million barrels a day, in the Gulf of Mexico was closed as of midday. The storms Marco and Laura — the latter of which is forecast to become a ...

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• 24 August

  Shell mulls sale of natural gas unit

  

  Bloomberg Royal Dutch Shell Plc said it’s considering a sale of a Norwegian natural gas supplier, as the energy major continues to selectively dispose of assets. The company is exploring a disposal of its Gasnor unit, a spokesperson confirmed in response to Bloomberg queries. Shell has approached infrastructure funds and private equity firms about a deal, people with knowledge of ...

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• 24 August

  Japan urged to boost green power on climate goals

  

  Bloomberg To do its part to help avoid catastrophic climate change, Japan must significantly change its power mix between now and 2030, according to a report by the Asia Investor Group on Climate Change. The country must lift the proportion of renewable energy in its generation to 50%, and nuclear to 20%, by 2030 to meet Paris Agreement goals of ...

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• 24 August

  China’s Shanxi Coal getting into solar production

  

  Bloomberg Mid-tier Chinese coal miner Shanxi Coal International Energy Group is planning a significant investment in the competing business of making high-tech solar power cells. The state-owned firm will lead a joint venture to build a 3-gigawatt solar manufacturing plant for 3.19 billion yuan ($461 million), according to a statement. It’s the first phase of a project that will grow ...

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• 24 August

  Blackstone gains $5b on LNG stake

  Bloomberg Blackstone Group will see a $5 billion gain from selling a stake in the largest liquefied natural gas export terminal in the US. The firm’s private equity business is unloading its stake of just over 40% of Cheniere Energy Partners LP to Brookfield Asset Management Inc and its own affiliated infrastructure group, according to a filing. Brookfield negotiated the ...

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• 24 August

  RBI sends signal to traders that bond yields may head higher

  

  Bloomberg Traders of India’s bonds were unnerved after the central bank cued that rising yields are here to stay by offering surprisingly high borrowing costs at a debt sale. The Reserve Bank of India (RBI) sold a 30-year bond at a cutoff yield of 6.75%, versus the 6.65% estimated in a Bloomberg survey. The central bank, which acts on behalf ...

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• 24 August

  MUFG plans to offer Covid-19 bonds to individual investors

  

  Bloomberg Japan’s biggest lender is planning to raise funds from individual investors to help smaller companies and hospitals tackle the coronavirus (Covid-19) pandemic. Mitsubishi UFJ Financial Group Inc. intends to issue sustainability bonds totalling as much as 150 billion yen ($1.42 billion) in September, after receiving requests from retail investors, according to Isamu Murofushi, a spokesman. The pandemic is boosting ...

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• 24 August

  Singapore dollar advances to 6-month high on fiscal stimulus

  

  Bloomberg Singapore’s large pool of fiscal reserves is proving to be a boon for the nation’s currency. The city state’s dollar advanced to its highest level in six months last week — erasing its pandemic-driven losses — after the government unveiled another stimulus package, financed in part by unused expenditure from earlier budgets. With the total for pledged pandemic aid ...

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• 24 August

  Philippine peso gets boost as central bank stands aside

  

  Bloomberg The Philippine peso advanced closer towards the psychologically significant level of 48 per dollar after central bank Governor Benjamin Diokno said the market was free to determine its level. Asia’s best-performing currency this year advanced to as strong as 48.62 on Monday after Diokno told Bloomberg Television: “If that’s where the market is going, we can’t do anything about ...

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