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HNA Group Plans to Sell Off Some Assets 1H2018

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HNA Group Co., Ltd., the Chinese conglomerate, revealed to its creditors the company plans to sell off roughly 100 billion RMB in assets in the first part of 2018. After extensive empire building, HNA plans to have most of the assets sold in that amount by the second quarter of 2018. HNA has taken an all stops approach to gathering lending sources, even making pitches to its employees to lend the company capital through loan programs. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Temasek Invests in Shaver Company Harry’s

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Harry’s, the subscription shaving company that is taking on companies such as Gillette, which is owned by the multi-national corporation Procter & Gamble, has raised US$ 112 million in a new round of financing.

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New CEO at Dubai Holding

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In early February, Dubai Holding LLC, an entity that once oversaw an aggressive Dubai International L.L.C. buyout player, hired a new chief executive officer. Dubai Holding hired Amit Kaushal as CEO, who replaces Edris Alrafi.

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Central Bank of Iran Reacts to Falling Rial

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Iran’s rial continues to be in a downward spiral, as the country grapples with high unemployment, high levels of non-performing loans, rising inflation and challenges with drawing in substantial foreign investment. Besides Russia, Italy and France, Iran has had a difficult time luring large foreign direct investment deals. For a number of countries in the Middle East, the value of domestic currency to the U.S. dollar is an important indicator of economic stability and strength. Iranian police recently arrested a number of currency dealers in the black market, while closing down a number of exchange offices. The rapid devaluation of the rial and the rise of the U.S. dollar in the country forces cash to remain in the currency market versus being put to productive uses such as capital expenditures. The devaulation of the rial has driven people to speculate and Tehran is trying to prevent that.

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