Marcos Brings Home $446M in Investments from India Visit
Marcos also projected an additional US$5.6 to US$5.7 billion in potential investments could follow as a result of the trip.
During his visit, Marcos held several business meetings, including discussions with the ISON Group focused on healthcare, BPO, renewable energy, and insurance.
He also met with NephroPlus Group CEO Rohit Singh to explore stronger cooperation in advancing Universal Health Care in the Philippines. NephroPlus reaffirmed its commitment to expanding access to patient-centered renal care, with 39 dialysis centers already operating nationwide.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Web Release
an hour ago
- Web Release
CI Financial and Mubadala Capital Announce Completion of Take-Private Transaction by Mubadala Capital
CI Financial Corp. ('CI' or the 'Corporation') (TSX: CIX) and Mubadala Capital today announced the successful completion, effective August 12, 2025, of the previously announced acquisition of CI, one of North America's leading diversified asset and wealth management companies. The C$12.1-billion transaction marks a significant milestone in Mubadala Capital's growth ambitions, accelerating its expansion into private wealth management and cementing its position at the forefront of a rapidly evolving sector. The transaction was completed by way of a statutory plan of arrangement (the 'Arrangement') under the Business Corporations Act (Ontario). Pursuant to the terms of the Arrangement, among other things, Mubadala Capital acquired all of the issued and outstanding common shares of the Corporation ('CI Shares') for cash consideration equal to C$32.00 per share, other than Rollover Shares (as defined below). The transaction valued CI's equity at approximately C$4.7 billion and implies an enterprise value of approximately C$12.1 billion. With this transaction, Mubadala Capital now manages, advises, and administers for clients and limited partners over US$430 billion in combined assets through its asset managers and strategic partners, including CI and its affiliates. The scale underscores Mubadala Capital's vision to build a leading asset management platform that combines institutional-quality alternative investments across multiple asset classes and geographies, including private equity, credit, special opportunities with a focus on Brazil and other alternative investments, with comprehensive wealth management services. 'This is an exciting new chapter for CI. In Mubadala Capital we've found the perfect partner – one who shares our aspirations and is committed to supporting the next phase of our journey,' said Kurt MacAlpine, Chief Executive Officer of CI. 'Together, we are uniquely positioned to expand our capabilities, accelerate growth and unlock even greater value for the clients we serve.' CI's headquarters remains in Toronto and the firm continues to operate independently under its current corporate structure, strategy, brand names and management team, led by Mr. MacAlpine. The CEO is rolling all1 of his equity into the continuing company in partnership with Mubadala Capital, demonstrating his commitment to their shared vision for CI. With the transaction now closed, CI gains access to Mubadala Capital's global network and capital resources to accelerate strategic initiatives and capitalize on new opportunities in the evolving asset and wealth management landscape in North America and globally. In particular, the transaction positions CI to continue the expansion of Corient, its U.S. subsidiary. The deal preserves Corient's unique private partnership model, which has been a key driver of its success. 'CI Financial is an incredible business that aligns closely with Mubadala Capital's long-term vision and strategy,' said Hani Barhoush, CEO and Managing Director of Mubadala Capital. 'By combining CI's wealth management expertise and long-standing client relationships with our alternative investment capabilities and global reach, we are building a differentiated platform focused on the thoughtful stewardship of capital — helping clients grow, preserve, and manage wealth across generations, while driving innovation in how wealth is served.' The transaction builds on Mubadala Capital's deep expertise in building and scaling complex, multi-jurisdictional businesses and positions the firm to support CI's continued growth and innovation in serving clients. Action Required by CI Shareholders Registered shareholders of CI are reminded to submit a duly completed letter of transmittal and, as applicable, the certificate(s) representing their common shares, to Computershare Investor Services Inc. ('Computershare'). Registered shareholders who have questions or require assistance can contact Computershare toll free at 1-800-564-6253 in North America, or at 1-514-982-7555 outside North America, or by email at [email protected] . With the Arrangement now complete, CI's common shares are expected to be delisted from the Toronto Stock Exchange ('TSX') shortly after the date hereof; however, CI will remain a reporting issuer in each of the provinces of Canada. For additional details regarding the Arrangement, see CI's management information circular dated January 7, 2025, (the 'Information Circular') a copy of which can be found under CI's issuer profile on SEDAR+ at . Board of Directors Changes In connection with completion of the Arrangement, William Butt, Brigette Chang, Paul J. Perrow and Sarah Ward have resigned as directors of CI and were replaced by Samuel Merksamer, Murat Konuk and Glyn Barker. William Holland and Kurt MacAlpine will remain as directors of CI following completion of the Arrangement. Mr. Merksamer is an Executive Director at Mubadala Capital (since 2024). He previously was a Partner at One Investment Management from 2022 to 2024. Prior to then, Mr. Merksamer was a Partner at SoftBank Investment Advisers and a Managing Director at SB Management, an affiliate of SoftBank, from 2019 to 2022. From 2017 to 2019, he was a co-founder of Caligan Partners, L.P., an investment firm. Mr. Merksamer was a Managing Director of Icahn Capital LP, a subsidiary of Icahn Enterprises L.P., from 2008 to 2016. Mr. Merksamer has an A.B. degree, Economics from Cornell University. Mr. Konuk joined Mubadala Capital in 2023 and is a Senior Principal on the Private Equity Team. Prior to joining Mubadala Capital, Mr. Konuk worked at a number of private equity firms, including Blackstone and Castle Harlan. Mr. Konuk graduated from Rice University with a B.A. in Mathematical Economic Analysis. Mr. Barker was Managing Partner of PricewaterhouseCoopers LLP UK ('PwC') from 2006 to 2008 and then served as Vice Chairman from 2008 to 2011. Mr. Barker joined PwC in 1975 and became an audit partner in 1987. He then established PwC's private equity-focused Transactions Services business and led the UK Audit Practice. Since leaving PwC in 2012, Mr. Barker has served as a director of several public companies including Aviva plc (Senior Independent Director), Berkeley Group Holdings plc (Chairman) and Transocean Limited. Mr. Barker received his Bachelor of Science degree in Economics & Accounting from the University of Bristol in 1975 and is a Chartered Accountant. Early Warning Disclosure of Mubadala Capital Pursuant to the Arrangement, MC Accelerate Co-Invest LP (the 'Mubadala Investor'), an entity managed by Mubadala Capital Management UK LLP, indirectly, via Accelerate Holdings Corp., acquired all of the CI Shares (other than the CI Shares held by Mr. MacAlpine, a director and the CEO of CI (the 'Rollover Shares')) for a price of C$32.00 per CI Share. MC Accelerate Holdings LP ('Holdings LP'), a limited partnership that is an affiliate of the Mubadala Investor, acquired all of the Rollover Shares in exchange for class A interests of Holdings LP at an implied value of C$32.00 per Rollover Share. The Rollover Shares have since been contributed to Accelerate Holdings Corp. In aggregate, the Mubadala Investor paid C$4,599,384,096 to acquire all of the CI Shares. Immediately prior to the completion of the Arrangement, the Mubadala Investor did not beneficially own, directly or indirectly, or exercise control or direction over, any CI Shares or any securities convertible into or exercisable for CI Shares. Following the completion of the Arrangement on August 12, 2025 and certain internal reorganization transactions completed immediately thereafter, the Mubadala Investor owned, indirectly through Accelerate Holdings Corp., 144,228,914 CI Shares, representing 100% of the issued and outstanding CI Shares. The Mubadala Investor acquired the CI Shares to acquire indirect control over CI as a strategic, long-term investment. However, the Mubadala Investor intends to review its investment in CI on a continuing basis and may, from time to time and at any time, and depending on market and other conditions, elect to sell all or a portion of its interest in CI or cause CI to divest a portion of its assets or reorganize the business of CI, depending on a number of factors, including general market and economic conditions and other factors and conditions the Mubadala Investor deems appropriate. In addition, Accelerate Holdings Corp. has obtained a final order of the Ontario Superior Court of Justice (Commercial List) approving a subsequent arrangement under section 182 of the Business Corporations Act (Ontario) pursuant to which CI will amalgamate with Accelerate Holdings Corp., with CI continuing its existence as the surviving corporation and an indirect wholly-owned subsidiary of the Mubadala Investor and Accelerate Holdings Corp. ceasing to exist (the 'Amalgamation Arrangement'). It is expected that the Amalgamation Arrangement will be completed within the next week. The Mubadala Investor is a limited partnership existing under the laws of England & Wales and its manager, Mubadala Capital Management UK LLP, is a limited liability partnership existing under the laws of England & Wales. Both have head offices located at 25 Berkeley Square, W1J 6HN, London, England. An early warning report will be filed by the Mubadala Investor under applicable Canadian securities laws and once filed will be available on CI's SEDAR+ profile at . A copy of such report may also be obtained from: Rodney Cannon General Counsel UAE +971 2 236 1003 UK +44 20 3650 3333 US +1 929 562 5151 Advisors to the transaction INFOR Financial served as exclusive financial advisor and Wildeboer Dellelce LLP served as legal advisor to the Special Committee of the CI Board of Directors. Stikeman Elliott LLP and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisors to CI. RBC Capital Markets was also an advisor to CI. Jefferies Securities Inc. acted as lead financial advisor to Mubadala Capital and Blake, Cassels & Graydon LLP, and Latham & Watkins LLP served as legal advisors to Mubadala Capital. FGS Longview acted as strategic communications and public affairs advisor to Mubadala Capital. BMO Capital Markets was also an advisor to Mubadala Capital.
Zawya
4 hours ago
- Zawya
Stocks take a breather, Fed rate-cut drumbeat weighs on dollar
LONDON/SINGAPORE - Traders ramped up Fed rate cut bets on Thursday, pinning the dollar near multi-week lows, while a global stock rally paused as investors awaited data on U.S. producer prices later in the day that may show how tariffs are impacting inflation trends. MSCI's global share index flatlined, after hitting all-time peaks for the two previous sessions, while an equivalent gauge of Asian equities outside Japan lingered near its loftiest level since September 2021. Futures markets signaled Wall Street stocks were set for a muted start, having led global shares higher all week and hit records on Tuesday and Wednesday. This blistering global rally has been fueled by strong U.S. tech earnings and speculation that Federal Reserve rate cuts will help protect businesses and households from the impact of White House tariffs. Traders now see a September cut as almost certain, per CME's FedWatch tool, and the U.S. administration is continuing to pressure the Fed to ease more quickly. Treasury Secretary Scott Bessent said on Wednesday that the Fed funds rate, which has been in a range of 4.25%-4.5% since December, should be as much as 175 bps lower. Monthly U.S. jobs data came in surprisingly weak on Aug. 1, but a U.S. producer prices report later on Thursday could shift the market's focus towards the risks of tariffs taking inflation too high for the Fed to cut rates, investors said. About 70% of global investors expect U.S. stagflation to become the dominant market narrative within three months, a Bank of America survey found this week. "Inflation is starting to come through. It's not massive yet but that could certainly continue in coming months and amplify that part of the story," Russell Investments global chief investment strategist Paul Eitelman said. U.S. Treasury markets show investors are growing queasy about the damage higher-for-longer inflation could wreak on longer-dated debt, by eroding the real value of bonds' fixed-interest coupons over time. Two-year Treasury yields, which track monetary policy bets, traded at 3.67% on Thursday, down from about 3.95% at the beginning of August. But yields on 30-year Treasuries, which are the most sensitive to inflation expectations, are now 112 bps higher than the two-year notes, with the yield differential having risen from about 95bps on Aug. 1. SOGGY DOLLAR The U.S. dollar was struggling to make headway from a two-week low against a basket of major currencies on Thursday and Japan's yen made broad based gains, hitting its strongest in three weeks at 146.38 per dollar. This came after Bessent said the Bank of Japan would raise interest rates because it was behind the curve in dealing inflation risks. The BOJ has so far justified keeping borrowing costs ultra-low because its underlying inflation measure that focuses on domestic demand and wages is below its target and it wants more clarity on how U.S. tariffs will impact exporters. The euro stood at $1,16722, nudging off the previous day's two-week high while European government debt largely tracked moves in Treasuries. Germany's 10 year yield was down 2 bps at 2.66%. EYES ON UKRAINE Commodities markets were subdued ahead of Friday's summit between U.S. President Donald Trump and his Russian counterpart Vladimir Putin. Trump on Wednesday threatened "severe consequences" if Putin did not agree to peace in Ukraine and has also floated the idea of a second summit that would include Ukrainian President Volodymyr Zelenskiy. Brent crude, the global oil marker, traded at around $65.86 a barrel on Thursday, just off a two-month low and down from almost $70 in early August. Spot gold prices, which tend to rise when investors focus on geopolitical risks, fell about 0.5% to $3,3925 per troy ounce. Goldman Sachs analysts wrote in a note to clients that lack of progress towards a Ukraine ceasefire could lead to renewed White House sanctions on Russian oil but this would only cause a "limited risk" of supply disruptions. J.P. Morgan strategists said a peace deal could lift the euro against the dollar but warned that the bar for achieving a ceasefire was high. (Reporting by Naomi Rovnick in London and Jaspreet Kalra in Singapore; Editing by Muralikumar Anantharaman, Kim Coghill and Christina Fincher)
Filipino Times
6 hours ago
- Filipino Times
Malacañang defends P10-B confidential and intelligence fund request
Malacañang defended the Office of the President's request for confidential and intelligence funds (CIF), saying President Ferdinand 'Bongbong' Marcos Jr. needs the allocations as the chief architect of the country's security and foreign policy. Palace Press Officer Undersecretary Atty. Claire Castro said the request, approved by the Department of Budget and Management, is necessary for the President's duties as commander-in-chief. 'Ang tandaan po natin, ang confidential funds o ang pera ay hindi naman masama kung ginagamit sa tama. Ang confidential funds or pondo ay nagiging masama kung ginagamit ng isang corrupt iyon lang naman po,' Castro said. The Marcos administration is proposing over P10 billion in CIF under the Fiscal Year 2026 P6.793-trillion National Expenditure Program. The Department of Budget and Management said the Office of the President would get the highest CIF allocation at P4.5 billion, followed by the Department of National Defense with P1.848 billion. Confidential funds cover sensitive government operations, including surveillance, while intelligence funds are intended for intelligence-gathering by the military, uniformed personnel, and other agencies tasked with ensuring national security.
