(Bloomberg) — China relaxed foreign investment rules for its southern free trade port of Hainan island, allowing overseas funds into sectors such as mining, online trading, and market and social research.
Restrictions on foreign shareholding in carmakers will also be lifted, according to China’s National Development and Reform Commission on its website. The negative list on foreign investment rules for the Hainan free trade port will be effective from February.
The Chinese government said in 2018 that a relaxation of rules in the automobile manufacturing industry will be adopted nationwide in 2022.
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Kinross announces additional investment in Wolfden Resources Corporation – GlobeNewswire
TORONTO, Jan. 27, 2021 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross”) announced today that it has acquired 3,125,000 common shares of Wolfden Resources Corporation (TSX-V:WLF) (“Wolfden”) in a non-brokered private placement at a price of CA$0.32 per common share for total consideration of CA$1,000,000.
Prior to completion of the transaction, Kinross held 12,500,000 common shares, representing approximately 9.6% of the outstanding common shares. As a result of the acquisition of 3,125,000 common shares (approximately 2.3% of Wolfden’s issued and outstanding common shares), Kinross now owns 15,625,000 common shares, representing approximately 11.4% of Wolfden’s issued and outstanding common shares, on a non-diluted basis.
Kinross acquired the common shares pursuant to the transaction for investment purposes. Kinross may, from time to time, acquire additional common shares or other securities of Wolfden or dispose of some or all of the common shares or other securities of Wolfden that it owns at such time.
Kinross will file an early warning report under Wolfden’s profile on SEDAR at www.sedar.com in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact Luke Crosby, Vice-President, Assistant General Counsel and Corporate Secretary at 647-788-4478. Kinross is organized under the laws of the Province of Ontario and its head office is located at 25 York Street, 17th Floor, Toronto, Ontario M5J 2V5. Wolfden’s head office is located at Unit 5, 1100 Russell Street, Thunder Bay, Ontario P7B 5N2.
About Kinross Gold Corporation
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
Vice-President, Corporate Communications
Investor Relations Contact
Senior Vice-President, Investor Relations
Cautionary statement on forward-looking information
All statements, other than statements of historical fact in this news release constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for “safe harbor” under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. The words “may”, “will” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Kinross’ acquisition or disposition of securities of Wolfden in the future. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant uncertainties and contingencies. These uncertainties and contingencies can affect, and could cause, Kinross’ actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Kinross disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
NBA star Andre Iguodala on Apartment List investment: 'It's a rare thing you see' with startups – Yahoo Canada Finance
The Canadian Press
Rebecca Marino says her game hasn’t changed much physically in the eight years since her last appearance at a tennis Grand Slam. After overcoming numerous challenges in road back to the sport’s biggest stage, however, Marino says she is in a better place mentally. “I still have the big serve and big baseline ground strokes,” Marino said in a video conference Wednesday from Melbourne, Australia, where she is preparing for next month’s Australian Open. “I think the biggest difference would be in terms of competitive spirit. I feel like I’m a lot mentally stronger now.” The 30-year-old from Vancouver qualified for the first Grand Slam of 2021 by winning all three of her matches at a qualifying tournament earlier this month in Dubai without dropping a set. It was a promising start to the tennis season for Marino, once ranked in the top-40 on the WTA Tour, after years of setbacks. Marino last appeared in a Grand Slam tournament at the 2013 Australian Open, losing in the first round to China’s Peng Shuai. She took almost five years off from the sport shortly after that, citing battles with depression. She worked on her physical and mental well-being during her time away, studied English literature, and competed on the varsity rowing team at the University of British Columbia. “I think back to that period of my life and I feel like I was a different person,” Marino said. “What I would tell other people is that that period of your life is not forever. “If you do the right things to get yourself in a better mental state, whether it’s talking or other steps to take care of your mental health, it’s obviously very important. I feel if I hadn’t have done that, I wouldn’t be in this position I am now.” Marino returned to tennis in 2017, but her comeback was hampered by a severe foot injury. She didn’t play a competitive match from June 2019 until the qualifying tournament in Dubai. During that time, Marino’s father, Joe, died of cancer at age 59. “His health battles and challenges were what inspired me,” Marino said. “Considering that 2020 was probably the most challenging year of my life, I’m really proud to make it here with him in mind through a lot of the process.” Now ranked No. 312 in the world, Marino said she would love to win “at least a round” in Melbourne. “I want to make sure I leave it all on the court,” she said. She hopes the fact she’s already played some competitive tennis this year will work to her advantage. “I at least had my qualifying matches to sort of get the rust off, so I feel like I might be a little bit more at an advantage than some players who might be coming in completely fresh in the new year.” Marino is one of seven Canadians in the main singles draws in Melbourne. Bianca Andreescu of Mississauga, Ont., and Leylah Annie Fernandez of Laval, Que., are also in the women’s draw, while Milos Raonic of Thornhill, Ont., Denis Shapovalov of Richmond Hill, Ont., Vancouver’s Vasek Pospisil and Montreal’s Felix Auger-Aliassime are in the men’s draw. This report by The Canadian Press was first published Jan. 27, 2021. The Canadian Press
At Davos, Canadian investment leaders set timelines for climate-friendly economy – CTV News
Two Canadian investment leaders endorsed a transition to clean energy at a virtual Davos World Economic Forum on Wednesday as more investors worldwide push for concrete sustainability commitments.
Former Bank of Canada governor Mark Carney said that politicians can help markets finance the transition to zero-emission economies by setting credible forward commitments.
Canada’s carbon pricing plan is an example of a forward commitment, Carney said, since it would hike the federal tax to $170 a tonne by 2030 from $30 currently.
“I think we’re reaching the tipping point. The question is execution. How is that political will channelled?” said Carney, who was speaking in his capacity as United Nations Special Envoy for Climate Action and Finance.
He pointed to recent COVID-19 vaccine purchase agreements as an example of the power of putting political will behind contracts.
Carney, who is also vice-chairman at Brookfield Asset Management, said that financial and economic markets will adjust to future goals, such as upcoming bans of internal combustion engines in Europe. Carney pointed to his research with U.S. Treasury Secretary and former Federal Reserve chairwoman Janet Yellen, which suggested that markets will “smooth” out the carbon price hikes.
“That’s what markets do best. And by the time you get to the point where the price is high, the economy has adjusted,” said Carney.
In a separate session, Ontario Teachers’ Pension Plan chief executive Jo Taylor said the pension plan tries to push its portfolio companies toward sustainability, rather than immediately divesting in carbon-intensive companies. The pension plan said last week it would commit to reaching net-zero greenhouse gas emissions by 2050.
“Through that engagement, rather than divestment, I think we can particularly push these companies to do a better job and actually provide some additional help and services in and around the world where they may not be immediately available,” said Taylor.
Carney and Taylor’s comments at Davos came as 61 global business leaders said at the forum they would begin using a standardized set of environmental, social and governance metrics and disclosures.
Global investment firm BlackRock Inc. also said this week it would start giving “heightened scrutiny” to investments that posed a climate-change risk, calling for more company disclosures not only on climate change but also social goals such as equity, diversity and inclusion. In his letter to CEOs, BlackRock chief executive Laurence Fink said that between January and November 2020 there was a 96 per cent year-over-year increase in sustainable asset investments in mutual funds and exchange traded funds.
Carney said that as more governments sign on to net-zero pledges, it is “cascading down” to large pension funds, insurance companies and sovereign wealth funds.
“We don’t often invest on our own, so what we need to do is also persuade other investors,” said Taylor. “Some of the investors we work with have a much more short-term view of what they’re trying to achieve.”
At a separate event at the Canadian Club of Toronto on Wednesday, business leaders made a similar case for businesses to boost diversity within their companies and support clean energy.
“The pain points today are revolving around climate change, and we see what’s happening. It’s real. Sheets of ice are melting, the ocean water levels are rising, investors are paying more attention this,” said CIBC chief executive Victor Dodig.
“If we want to make sure that capital comes to Canada, we need to make sure that companies, the private sector – publicly traded companies and private companies – are focused on that. Because capital won’t come here otherwise.”
Dodig said that Canadian companies have among the strongest technology offerings worldwide for renewable energy, pointing to companies working in uranium and agriculture. But Rola Dagher, global channel chief at Dell Technologies, said business leaders must also do more in general to ease the anxieties that technology will be used the wrong way and cause job losses.
Richard Manley, head of sustainable investing at CPP Investments, said that while the energy industry has been “in a permanent state of innovation for a century,” it has yet to reach its full potential in confronting carbon emissions.
“We clearly are investing in technologies that will shape the greening of energy,” said Manley. “But at the same time, I think we’re very keen to support companies that are identifying the challenges of the transition, and a commitment to decarbonize and transition their businesses, to provide them the capital they require.”
This report by The Canadian Press was first published Jan. 27, 2021.
InvestorChannel's Media Watchlist Update for Wednesday, January, 27, 2021, 16:00 EST – InvestorIntel
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