NEW YORK, Feb 22, 2008 (BUSINESS WIRE) -- The India Fund, Inc. (NYSE: IFN; the "Fund") announced today that the Fund's semi-annual repurchase offer will commence today and terminate on March 14, 2008. In April 2003, stockholders of the Fund voted to adopt an interval fund structure, pursuant to which the Fund conducts semi-annual repurchase offers for between 5% and 25% of the Fund's outstanding common stock. Accordingly, the Fund's Board of Directors (the "Board") authorized the Fund's repurchase offer for the semi-annual period of up to 5% of its outstanding common stock, the details of which are as follows: ...read more
Friday, February 22, 2008
News : The India Fund, Inc. Announces Commencement Date of Semi-Annual Repurchase Offer
Sunday, February 3, 2008
News : Malaysia scraps plan to export pesky monkeys
KUALA LUMPUR: Malaysia has dropped a plan to round up nuisance monkeys from its cities and sell them abroad as exotic meat or for medical research, after discovering that most of the animals are too ill to be exported.
In August, the government said it would end a ban on the export of long-tailed macaques after complaints that they were too aggressive and had attacked residents. Animal-rights groups objected, saying the monkeys would be sold to laboratories. But the New Straits Times said yesterday the government had now reversed its decision after discovering that the monkeys were riddled with diseases and that no one would want to buy them.
“They were supposed to fulfil the demand for exotic meat in a few countries in Asia and in the West,” the daily quoted Natural Resources and Environment Minister Azmi Khalid as saying. A recent study found 80% of urban macaques carried diseases such as tuberculosis, malaria, hepatitis and AIDS, he said. “Only 20% were healthy and, of this, only half the number were suitable for export,” he added.
The report also quoted Azmi as saying the diseases could pose a threat to human health, but it gave no idea as to how the government now planned to tackle the problem. Veterinary experts have previously called for relocation programmes, reproduction controls and public education to stop residents from feeding or teasing the animals. – Reuters
News : Vietnam new loan limit will avoid hot credit-cbank
HANOI, Feb 3 (Reuters) - Vietnam's central bank has raised the limit on bank loans to stock investors in a move that will boost lending for some banks but not encourage excessive credit growth in the country.
The directive, part of efforts to improve Vietnam's capital market, will mean different things to banks depending on their total loans and registered capital level.
Banks with bad debts of a maximum 5 percent of loans can now lend a maximum 20 percent of their registered capital to stock investors, replacing the current limit on 3 percent of total loans.
"With this regulation, lending for securities investment would not lift the overall credit too much, and many banks with a low level of loans against their registered capital can lend further," the central bank said in a statement on Saturday.
Banks which increased their registered capital significantly last year while their loans did not pick up can lend more in line with the new limit, while larger banks with high but stable capital may have to cut their loans, brokers said.
The central bank has said it aims to limit the country's credit growth at 30 percent this year after a jump of 37.8 percent last year.
Loans for securities investment totalled 11.4 trillion dong ($714 million) in December 2007, or 1.37 percent of total bank loans, central bank's figures show.
Market regulators say they want to raise Vietnam's stock market value to between 50 percent and 60 percent of gross domestic product this year from 43.4 percent in 2007. The economy grew 8.5 percent to $71 billion last year.
($1=15,965 Dong) (Reporting by Ho Binh Minh, editing by Jacqueline Wong)
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