Tuesday, December 02, 2008
Dana Exits Chapter 11 Reorganization a Stronger Global Competitor
Organised crime is, no doubt, a major threat to international peace and security of a nation's financial system. Money laundering, which is a derivative crime, is a powerful manifestation of this threat. It is a potentially harmful activity capable of affecting the efficient functioning of the banking system, and it undermines the legitimacy of the system in extreme cases. Although the amount of illicit assets that are laundered in the international financial system remains speculative, there are hard facts suggesting that money laundering is inimical to the credibility and integrity of our financial system especially." read more
Computraceone Tracks Computers And Helps Recover Those That Go Missing
Baring Asset Management Inc.'s Nudgem Richyal and Christopher Lees, whose international fund doubled the return of its benchmark last year with the help of Chinese stocks, moved into Russia just as the market stumbled.
The managers unloaded PetroChina Co. Ltd., the world's biggest company by market value, and Guangzhou R&F Properties Co. Ltd. in December after Chinese stocks became the most expensive in Asia.
They bought the fund's first Russian stock, OAO Sberbank, the country's largest lender. The shares have dropped 18 percent this year, though Richyal said he was investing for the long term.
"I'm warming up to Russia this year," Richyal said in a Feb. 6 interview in Boston, where Baring has an office. "We're in the infancy of a resource and consumption boom in emerging economies."
From Baring's London office, Richyal and Lees manage $2.5 billion in non-U.S. read more
