The federal government is investing $17.5 million into a rail terminal expansion in north Richmond, intended to help improve supply chain efficiency and provide access to new markets overseas.
The “rail footprint” of the Ray-Mont Logistics terminal, located at 15900 River Road near No. 7 Road, will be increased to accommodate unit trains, while the terminal’s specialty grain and container handling equipment will be upgraded, according to a spokesperson for Transport Canada.
The expansion will increase terminal capacity by about 160 per cent, or 1.7 million tonnes per year.
“Our government is investing in Canada’s economy by making improvements to our trade and transportation corridors,” said Transport Minister Marc Garneau in a statement announcing the investment June 30.
The facility receives and unloads grain from a variety of Canadian agricultural producers, according to Transport Canada. Once unloaded, those products are loaded into shipping containers, before heading to port terminals for overseas export.
By expanding the facility to accommodate unit trains – a train where all cars carry the same commodity bound for the same destination – supply chain efficiency will be improved and congestion reduced.
India Stymies Investment From Hong Kong Amid China Border Row – BNN
(Bloomberg) — India is subjecting foreign investment proposals from Hong Kong at par with China as part of a new policy that makes approval mandatory for plans from countries that share a land border, a person with the knowledge of the matter said.
Nearly 140 investment proposals valued at over $1.75 billion, mostly from China and Hong Kong — China’s special administrative region — have been put on hold pending scrutiny, the person said asking not to be identified citing rules on speaking to the media.
Amid a border stand off with China, the Indian government tightened rules for foreign direct investment from all nations sharing a land border, making scrutiny mandatory for such investments — a restriction that was earlier applicable only to Pakistan and Bangladesh.
The delays may complicate deal-making and impact the flow of capital from private equity firms and hedge funds, which often include investors domiciled in China or Hong Kong. This may starve Indian companies of investment in the midst of the pandemic-induced economic contraction.
The curbs also apply when the beneficial owner of the proposed investment is situated in any of India’s neighbors. A government panel constituted to approve these proposals is yet to decide on the rules including on beneficial ownership.
The trade and industry ministry spokesman didn’t immediately answer a call made to his mobile phone.
READ MORE: China Gained Ground on India During Bloody Summer in Himalayas
Tensions between the two giant Asian economies have been escalating since May. Twenty Indian soldiers and an unknown number of Chinese troops were killed in clashes along the Himalayan frontier earlier this year.
The military crisis is the worst since the two sides fought a war in 1962. India responded by banning Chinese apps, tightening visa rules for Chinese nationals and imposing curbs on companies from nations sharing a land border from bidding for government contracts.
Earlier last month, Foreign Minister Subrahmanyam Jaishankar had told Bloomberg News that trade with China can’t carry on in business-as-usual mode as long as there are unresolved issues along the border — a disputed 3,488-kilometer (2,167-mile) stretch known as the Line of Actual Control.
©2020 Bloomberg L.P.
Billionaire Bezos Backs Start-Up in Maiden Africa Investment – BNN
(Bloomberg) — Jeff Bezos agreed to back Africa-focused financial technology company, Chipper Cash, making it his first start-up investment on the continent.
The world’s richest man’s personal venture capital fund, Bezos Expeditions, supported the Series B funding led by Ribbit Capital, which raised $30 million for the San Fransisco-based company.
“Jeff Bezo’s backing of Chipper Cash will widen the company’s product suite through inclusion of more business payment solutions, crypto-currency trading options, and investment services,” the company said in an emailed statement.
Chipper Cash enables instant cross-border mobile money transfers in Africa and abroad and will use the funds for expansion into countries it will announce in 2021. The company has 3 million users on its platform across Ghana, Uganda, Kenya, Tanzania, Rwanda, Nigeria and South Africa, and processes an average of 80,000 transactions daily, according to the statement.
“We are responding to the demand from customers on our P2P platform who also have business enterprises,” Chipper Cash Chief Executive Officer Ham Serunjogi said in the statement.
Read more: Visa Partners With Payments Startup Chipper in African Expansion
©2020 Bloomberg L.P.
Dot Investing Launches Digital Platform Allowing Individuals to Access Investment Opportunities Usually Reserved for Institutions – Business Wire
LONDON–(BUSINESS WIRE)–Dot Investing, a fintech startup, has launched an online investment platform that allows individual investors to invest in top private and alternative asset funds, including private equity, VC and hedge funds. Users are able to invest from £100,000 into opportunities that historically had far greater minimum investment requirements. The team behind the FCA-regulated startup want to democratise access to investments that until now have only been easily accessed by institutions.
Falling interest rates and volatile markets are driving demand from individual investors for access to top-tier private assets and alternative funds. Dot Investing is one of a small number of next generation investment platforms that provide the access and tools required to meet this demand. On the other side of the equation, the fintech startup opens the door for fund managers to a pool of capital worth trillions of pounds.
Each investment opportunity listed on the platform has passed Dot Investing’s proprietary due diligence process, combining technology and in-house expertise. Users must meet with qualifying investor criteria and make their own decisions on where to invest funds, however they do so with the knowledge that each opportunity presented has been vetted by experts. The majority of investment opportunities will come from top-tier private equity and alternative asset funds, users of Dot Investing will also enjoy regular access to ESG and impact investing funds.
Dot Investing was founded in London by a team with broad experience from a range of financial institutions including Blackrock, Barclays and JP Morgan.
Kinson Lo, founder and CEO of Dot Investing said, “We believe our technology can empower investors to build more diverse, resilient and better performing investment portfolios. Our digital platform opens access to investments that for too long have been the preserve of institutions. The combination of expertise and technology we provide arms investors with the insights to invest like a sophisticated institution.”
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