#AceFinanceNews Russia’s biggest billionaire has bought shares in big Chinese internet retailer Alibaba, after selling his stakes in US tech giants Apple and Facebook.
The deal comes as the West imposes sanctions on Russia, that could spread from politics to business.
Usmanov, 60, a founder of Russia’s iron ore Metalloinvest Holding Company, has an estimated fortune of $18.6 billion as of March 2014 and is increasing his bet on China, while selling American assets.
“Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign internet investments,” Ivan Streshinskiy, head of Usmanov’s asset-management company USM Advisors LLC, told Bloomberg in an interview in Moscow.
#AceFinanceNews Singapore intends to start regulating Bitcoin operations, as fears over its involvement into illegal operations and terrorist financing are growing.
The Monetary Authority of Singapore (MAS) will require Bitcoin intermediaries to check the identity of customers.
“Consumers and businesses should take note of the broader risks that dealing in virtual currencies entails and should exercise the necessary caution,” MAS Deputy Managing Director Ong Chong Tee said in a Thursday statement.
The regulatory rules in Singapore will be similar to those now applied in Hong-Kong, as MAS told Bloomberg.
The laws in Hong Kong cover fraud and money laundering that involve “virtual commodities.”
European Central Bank (Photo credit: kumbarov)
With borrowing comes responsibility or so the story goes because this story gets more like a pantomime everyday. You can make your own mind up to which one and who plays certain characters but now we have a benefactor good olde ECB and what have they offered this Christmastide well money of course, well they are a bank. But not just any bank but the bank of last resort and what does the one in [drag-hi] do but buy up all the debt of other countries.
Now we should all be saying well done but instead we are saying he`s behind you and his name is not Abanazar, but something much worse the ” Ghost of Christmas Of Yet To Come ” namely a huge ” Debt Mountain ” but in the meantime people will still dress up and act out the pantomime until the very last act.
The it will be CURTAIN`S
Read the Article at HuffingtonPost
Media Digest 7/15/2009 Reuters, WSJ, NYTimes, FT, Bloomberg – MarketWatch
Posted using ShareThis this will be a daily update of all the indices from across the globe and my comments on the state of how l see the markets changing. G
” The Roving Giraffe News Report ” – 15/07/09