✅In the latest development, 15 countries solidifi ed their participation in the Regional Comprehensive Economic Partnership (RCEP).
✅Even as India opted to stay out after walking out of discussions last year, the new trading bloc has made it clear that the door will remain open for India to return to the negotiating table.
▪️Background
✅The RCEP was first proposed at the 19th ASEAN meet in November 2011 with an aim to create a consolidated market for the 10 member countries and their trade partners.
✅India pulled out of the agreement last year over concerns about cheap Chinese goods entering the country. It can join at a later date if it chooses.
▪️What is RCEP?
✅It is described as the “largest” regional trading agreement to this day, RCEP was originally being negotiated between 16 countries — ASEAN members and countries with which they have FTAs, namely Australia, China, Korea, Japan, New Zealand and India.
✅In the latest development, 15 countries solidifi ed their participation in the Regional Comprehensive Economic Partnership (RCEP).
✅Even as India opted to stay out after walking out of discussions last year, the new trading bloc has made it clear that the door will remain open for India to return to the negotiating table.
▪️Background
✅The RCEP was first proposed at the 19th ASEAN meet in November 2011 with an aim to create a consolidated market for the 10 member countries and their trade partners.
✅India pulled out of the agreement last year over concerns about cheap Chinese goods entering the country. It can join at a later date if it chooses.
▪️What is RCEP?
✅It is described as the “largest” regional trading agreement to this day, RCEP was originally being negotiated between 16 countries — ASEAN members and countries with which they have FTAs, namely Australia, China, Korea, Japan, New Zealand and India.
The STAR Market, as is implied by the name, is heavily geared toward smaller innovative tech companies, in particular those engaged in strategically important fields, such as biopharmaceuticals, 5G technology, semiconductors, and new energy. The STAR Market currently has 340 listed securities. The STAR Market is seen as important for China’s high-tech and emerging industries, providing a space for smaller companies to raise capital in China. This is especially significant for technology companies that may be viewed with suspicion on overseas stock exchanges.
Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
