Chinese Firm Builds Free Trade Zone in Uganda
Paradise International Investment Ltd is investing USD1.5 bn to build infrastructure in the Ssesamirembe Eco-City located in the Lake Victoria Free Trade Zone. Paradise signed an agreement with Uganda's Kagera Eco-Cities, which is authorised to supervise the investment and work, the Ugandan website New Vision reports. The project includes the construction of an international airport, an airport city, a port city for container ships, hotels at Lake Victoria, an international China-Africa Friendship University and an international finance centre.
Temasek Buys Into Li & Fung for HKD3.9 bn
Singapore's Temasek Holdings has paid HKD3.9 bn (USD500m) for a 4.62
per cent stake of Li & Fung's enlarged share capital, a statement
by the Hong Kong-based exporter said. "We are very pleased to have
Temasek as one of our strategic shareholders in view of its long-term
approach to this investment," said William Fung, Li & Fung Group's
Managing Director. The company will use the investment to fund further
acquisitions.
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