It is the eighth consecutive cut of the Selic rate. So far, the rate has accumulated a 5.5-point decrease in 2017. It is also the second time in a row
that Copom decided on a one-point cut.
With the decision, the Selic rate was reduced to its lowest point since July 2013.
In a market survey carried out weekly by the Brazilian Central Bank, economists from Brazil's most prominent financial institutions estimate that the
Selic rate will be further reduced in the upcoming Copom meetings, falling to
7.25 percent by the end of 2017. If the estimates are confirmed Asics Gel Kayano Trainer Evolution Negras Baratas , the Selic rate will be the lowest in Brazilian history.
Copom meets every six weeks to decide whether to change the Selic rate. The next meeting is scheduled for Oct. 25.
China-Arab States Expo opens in NW China
UN conference on desertification opens in Inner Mongolia
Myanmar exports about 95 percent of fruits to China
In pics: China's future Mars simulation base in Qinghai
In pics: China's future Mars simulation base in Qinghai
Actors perform during acrobatics show in central China's Puyang
Colorful houses seen in N China's beautiful countryside
Spectacular scenery of Hukou Waterfall of Yellow River
Part of global strategy, but observers wonder about capital sources
A jet plane Boeing 787 Dreamliner painted with a picture of Kung Fu Panda stops by at Chengdu Shuangliu International Airport in Chengdu, Southwest
China's Sichuan Province, on March 15 2017. Photo: IC
Graphic: GT
Chinese conglomerate HNA Group Co has made a general offer for Singapore-listed logistics provider CWT, after almost one year of talks in a
deal valued at about $1.4 billion Hombre Negras Rojas Asics Gel Kayano 23 Baratas , according to a filing by HNA to the Hong Kong Exchanges and Clearing Sunday.
The deal would lift the total value of HNA's transactions over the past 28 months to more than $40 billion, according to a Financial Times analysis of
Dealogic data Monday.
"HNA's proposed purchase of CWT is in line with its global expansion strategy because its traditional airline business can be included in logistics from a
broader perspective," Liu Shengjun, an economist, told the Global Times on
Monday.
Liu said that the purchase will enhance HNA's logistics service ability globally if it is approved. The deal should not be considered as a one-off
investment or even a simple conversion of yuan to dollars.
As "one of China's most aggressive buyers Asics Gel GT II Marino Rojas Hombre Baratas ," according to the Wall Street Journal on Sunday, HNA has been seeking growth in sectors globally such
as property and tourism.
Since the start of 2017, the Chinese airline operator has been connected to more than 10 merger and acquisition (M&A) deals, including talks for a stake
in Switzerland-based airport retailer Dufry AG and US business magazine Forbes
in March and Germany's state-owned HSH Nordbank in April, according to media
reports.
But all these deals have raised questions over its sources of capital Asics Gel-DS Trainer OG Negras Baratas , since Chinese regulators have been tightening controls over capital outflows since November, the Financial
Times said.
HNA has moved quickly on the global M&A front in recent years thanks to China's ample foreign exchange reserves and the government's encouragement of
Chinese companies to go out. Companies that have done likewise include Anbang
Insurance Group and Dalian Wanda Group, Liu said, noting that HNA aims to be a
truly transnational company by integrating global resources.
However, HNA is likely to slow the pace of its global drive now that the government's stance on overseas investment has become more guarded under the
pressure of capital outflows Asics Gel Atena RF Gris Blancas Baratas , he predicted.
HNA's non-strategic purchases in sectors such as property and hotels, which are hard to classify as investment or speculation due to limited statistics,
will be affected as its policy becomes more focused on the strategy and resource
side, he said.
HNA said in the filing that it has been actively assessing the global market for investment opportunities to complement its existing businesses as it strives
to become a leading diversified international investment company.
The acquisition of CWT is in line with the group's investment principles of prudent and justifiable investments. The deal will see the Singapore-based
target benefit from China's "One Belt, One Road" initiative Mujer Asics Fuzex Rush Negras Team Rojas Baratas , according to HNA.
"HNA's pace of acquisitions has really been fast, and worries over the source of its capital are understandable. But if the company aims to internationalize
its business and can make profits while doing so, now is a good time for HNA to
expand globally," Chen Fengying, an expert at the China Institutes of
Contemporary International Relations Hombre Asics Dynamis Trainers Negras Baratas , told the Global Times on Monday.
Chen said that authorities should focus on tightening regulations of the sources of the domestic company's capital as well as where the money goes.
It is crucial to consider overseas purchases from the strategic point of view for Chinese companies to see if a particular deal is in line with a company's
business development, Liu said.
"Chinese companies should also attach importance to post-purchase integration and enhanced management ability or it means little as a passive investor," he
added.
CWT's shares closed 9.18 percent higher on Monday at S$2.26 ($1.6).
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