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Guardian Unlimited – Japanese government bond futures fell on Monday, edging back towards six-month lows hit earlier this month, with traders citing selling by hedge funds on the back of concerns about rising debt issuance.
The Ministry of Finance said it would issue an additional 16.9 trillion yen ($175 billion) in JGBs in the fiscal year that ends next March to pay for an economic stimulus package.
The extra supply, which will start coming to the market in July, will increase calendar base JGB issuance in fiscal 2009/10 by roughly 15 percent to a total of 130.2 trillion yen.
Reuters – China Zhongwang Holdings, Asia’s biggest maker of aluminium extrusion products, began marketing on Monday for a Hong Kong IPO to raise as much as $1.58 billion in what would be the world’s largest new listing so far this year.
The company, which generates a large share of its business from the transport sector, including railways, is a beneficiary of Beijing’s 4 trillion yuan ($585 billion) economic stimulus package, a big chunk of which is being spent on infrastructure.
West Palm Beach (HedgeCo.net) - In a letter scheduled to be released today, January 26th, Bill Gates is offering insight to the world both about the current financial crisis as well as what his foundation has been able to do despite it.
Matthew Bishop, New York Bureau Chief and American Business Editor for The Economist conducted the interview, where Gates said his foundation’s assets may be shrinking, but it is increasing its giving in 2009, from $3.3 billion last year to $3.8 billion—the biggest ever annual budget for a charitable foundation.
Much of this will go towards finding ways to reduce deaths from the 20 diseases that kill the most people in poor countries, according to the Economist. Gates has high hopes that the number of children who die each year can be cut by half, to 5m, within 20 years, just as it was cut by half in the past half-century. Polio will soon be eradicated, he believes, and deaths from malaria can fall by half by 2015.
In a year of economic distress and record losses, optimism and generosity are still central to Gates, he says in the interview. With projected increases in giving in 2009, the Bill and Melinda Gates Foundation will continue to focus on healthcare issues around the world as well as education reforms.
Similarly, he says he is optimistic that Barack Obama’s administration will make progress on school reform, pointing to the extra spending on schools contained in Obama’s economic stimulus package and the fact that the new education secretary, Arne Duncan, welcomed Gates-funded charter schools in Chicago.
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Charleston Gazette – Whether it’s a buildup of Civil War troops, Depression-era bureaucrats or defense contractors after Sept. 11, the region has prospered in times of crisis. Today, the financial meltdown is delivering a jolt of its own.
Lawyers, lobbyists and public relations experts — many of whom live and work in Virginia and Maryland suburbs — are benefiting as companies from Wall Street to Motor City seek a piece of Washington’s $700 billion financial bailout, and try to influence any regulatory strings attached. Business is also percolating as President-elect Barack Obama prepares an economic stimulus package comprised of infrastructure spending and tax breaks that could exceed $800 billion.
"There will be a mad rush to have influence on where that money should go,” said David Rubenstein, co-founder and managing director of The Carlyle Group, the Washington-based private-equity firm whose partners include former high-ranking U.S. and foreign government officials. Far from struggling, the Washington region could be on the verge of "boom times,” Rubenstein said.
