China’s local governments are seeking global investors to cut costs on 17.9 trillion yuan ($2.9 trillion) in debt as the property market weakens, yields surge and economic growth cools to the slowest in 24 years.
South Africa needs “bold, decisive, courageous and responsible action” to transform its economy, said Tito Mboweni, the former chairman of AngloGold Ashanti Ltd. who declined a nomination for a seat in Parliament.
BNP Paribas SA, France’s biggest bank, agreed to buy South African credit provider, RCS Investment Holdings Ltd., from Standard Bank Group Ltd. and Foschini Group Ltd. for 2.65 billion rand ($255 million).
UrtheCast Corp., the digital-imaging company whose largest shareholder is Fidelity Investments, has surged almost 40 percent in the past seven months as investors bet it has found an inexpensive niche in the $1.5 billion market for pictures from space.
Top Frontier Investment Holdings Inc., the controlling shareholder of San Miguel Corp. that began trading in a separate listing in Manila today, may sell shares this year to help fund expansion and cut debt.