U.S. CAR GIANT GM TO INVEST $14b IN CHINA
GENERAL Motors will invest US$11 billion (S$14 billion) in China through 2016, executives said yesterday, as the United States car giant broke ground for a plant to produce luxury Cadillacs for the world's biggest car market.
The figure includes the budget for four new plants, including the US$1.3-billion Cadillac factory in Shanghai, GM officials said.
CHINA'S DALIAN WANDA TO INVEST $2b IN UK
CHINESE conglomerate Dalian Wanda Group said it would spend £1 billion (S$2 billion) to buy British yacht maker Sunseeker and develop an upmarket London hotel overlooking the River Thames.
The company said yesterday that it had agreed to buy a 91.8 per cent stake in privately-held Sunseeker for £320 million and would invest £700 million to build a 160-room luxury hotel and apartment complex.
ASIAN MARKETS DOWN AHEAD OF FED DECISION
ASIAN markets were mostly lower yesterday, with the focus on the United States Federal Reserve's policy meeting later in the trading day, but Tokyo enjoyed another rally as data showed a surge in exports, thanks to a weaker yen.
Wall Street again provided a healthy cue, with investors betting that the Fed will stop short of reeling in its "quantitative easing" bond-buying programme.