This video covers the concerns that Mark Mobius has about the Alibaba shareholding structure, i.e, dual shareholding with promoters having significant control and little recourse for minority shareholders. Its not considered proper in the USA and NYSE should not have accepted such a listing. But commercial considerations have dictated the current situation.
Dr. Mark Mobius, Executive Chairman, Templeton Emerging Markets Group. He earned Bachelors and Masters degrees from Boston University, and Ph.D. in economics and political science from the Massachusetts Institute of Technology (MIT).
US Federal Reserve (Fed) signaled that it would not raise its interest rates soon. The second estimate of the Q1 2014 Gross Domestic Product (GDP) growth showed that it shrunk 1% (annual) compared with 0.1% growth in the advance estimate and 2.6% growth in Q4 2013.
Eurozone GDP grew only 0.2% in Q1 2014 while growth for Q4 2013 was revised down to 0.2% from 0.3%. Meanwhile, the UK confirmed (in its second estimate) 0.8% growth in Q1 compared with 0.7% in the previous quarter. In its inflation report, the Bank of England said that the UK economy continues to strengthen, but more slack needs to be absorbed before a rate increase is implemented.
The Japanese economy signaled growth traction after its GDP expanded 5.9% on year in Q1 2014, following the downwardly revised 0.3% gain in Q4 2013. In China, most economic indicators released during the month pointed at sluggishness in the economy. (Data Source: Reuters)
Suzlon Energy Ltd had, pursuant to a resolution passed by its Board of Directors on May 03, 2014, issued separate notices each dated May 06, 2014 convening meetings of the holders of the 0% October 2012 Bonds, the 7.5% October 2012 Bonds, the 0% July 2014 Bonds and the 5% April 2016 Bonds to consider the proposed restructuring of the Existing Bonds. The meetings of the holders of the Existing Bonds are proposed to be held on July 09, 2014. In furtherance to the same, the Company has issued a consent solicitation memorandum and an information memorandum each dated June 17, 2014, providing further information in relation to the commercial terms of the proposed restructuring of the Existing Bonds, including the terms and conditions of the new foreign currency convertible bonds (FCCBs) (the “Restructured Bonds”). Suzlon has received approval of the Corporate Debt Restructuring (CDR) Empowered Group for the debt restructuring proposal and has also received approval of the Reserve Bank of India (RBI), subject to specified conditions. The restructuring proposal, including the terms of the Restructured Bonds, is subject to the approval by the requisite majority of the holders of the Existing Bonds in each series.