Ares Said to Buy Northstar Funds for Asia Private Equity Growth
The deal comes after months of detailed discussions and due diligence work by the global alternative assets manager, the people said, asking not to be identified because the matter is private. About 20 Northstar staff including investment professionals will move to Ares, though its two co-founders Patrick Walujo and Glenn Sugita won't be joining, one of the people added.
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9 hours ago
- Yahoo
Trade Minister Maninder Sidhu eyes new markets, smaller trade delegations
OTTAWA — Ottawa's new trade minister says he's looking to sign deals in South America, Southeast Asia, Africa and beyond — and to convince businesses to actually use the trade agreements Canada has already signed. "My primary role as Canada's top salesman is to be out there hustling, opening doors for businesses and accessing new markets," Maninder Sidhu told The Canadian Press. "My phone has been ringing with opportunities because people want to deal with reliable, stable trading partners." Prime Minister Mark Carney has tasked Dominic LeBlanc as minister responsible for Canada-U.S. trade. Sidhu's job focuses on countries other than the U.S. Export Development Canada says Ottawa has 15 free trade agreements covering 51 countries, offering Canadian exporters preferential access to over 1.5 billion consumers. But Sidhu said Canadian businesses could be doing a lot more to look beyond the U.S., particularly as Washington threatens and imposes a range of tariffs. Sidhu served four years as a parliamentary secretary in roles reflecting all three branches of Global Affairs Canada: aid, trade and diplomacy. The job saw him represent Canada in trade promotion events in Southeast Asia and security forums in the Caribbean. Sidhu worked as a customs broker before politics — a job that focuses on navigating red tape and tariffs to secure the best rate for trading goods. Sidhu said he plans to visit Brazil soon as the South American country seeks to revive trade talks that kicked off in 2018 between the Mercosur trade bloc and Canada. His predecessor Mary Ng put an emphasis on large trade missions which took months to plan. The minister would sometimes fill a plane with corporate and business leaders, spending a substantial chunk of time in one or two countries. Sidhu said he is hoping to bring smaller delegations of companies with him on his trips abroad, with a focus on specific sectors, "whether it's South America, Indo-Pacific to Europe, to Africa." "Businesses feel like they're heard, but they're also getting higher-level meetings on the opposite side in the countries that we take them into," he said. Ottawa is navigating its trade ties with China as the two countries work to revive the decades-old Joint Economic and Trade Commission, a forum to sort out trade irritants. China has been roundly accused of engaging in coercive trade practices and of restricting certain commodities or services like tourism during political disagreements with Ottawa. Sidhu said the goal there is to offer "stability" to industry, with an emphasis on "how do we work through those challenges, and how do we make sure that those conversations are facilitated." Sidhu also downplayed the chances of a bilateral trade deal with the United Kingdom. Trade talks collapsed last year over the U.K.'s desire to sell more cheese in Canada and after Britain blocked Canadian hormone-treated beef. Both countries are using a temporary deal put in place after Britain left the European Union, and the U.K. will soon enter a trade bloc that focuses on the Pacific Rim, Sidhu noted. He said Canada would still be open to a full deal. "If U.K. and Canadian businesses already have access on 99 per cent of the items that we trade, then if we're looking at trade agreements, we need to make sure that we're getting the best value for our negotiations," Sidhu said. He also said Canada could consider "sector-specific agreements" with other countries, instead of comprehensive deals that span most industries. "We are getting very creative in how we can open up more doors," he said. Sidhu did not name specific countries where Canada might pursue sector-specific agreements. Canada had been looking at a trade agreement with India that would be limited to certain sectors — before Ottawa suspended talks in 2023 following an assassination the RCMP has linked to New Delhi. Ottawa launched security talks with India this spring and agreed to re-establish high commissioners. Sidhu was circumspect when asked when Canada might re-establish trade talks with India. "This is a step-by-step approach," he said, adding that the eventual return of top envoys will help "to carry out those very important conversations." Sidhu said Global Affairs Canada is still sorting out how Carney's decision to cut spending in all departments will affect the trade branch. "It's really going to be a focused approach, of where we can make the best impact," Sidhu said. The Business Council of Canada has urged Ottawa to expand the number of trade commissioners, who provide the contacts on the ground for Canadian companies looking for export opportunities. While Sidhu did not say whether Ottawa's cuts will mean fewer trade commissioners, he said he's heard a clear message from chambers of commerce that these positions are extremely valuable. "It comes down to return on investments, what programs are working (and) where can we get the best bang for our buck for Canadian industry and Canadian workers," he said. "A lot of the business community doesn't even know that (the Trade Commissioner Service) is there to help. And so my job is to help amplify that." This report by The Canadian Press was first published Aug. 3, 2025. Dylan Robertson, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Yahoo
Hong Kong's Stablecoin Rules Kick In as It Looks to Establish Its Crypto Credentials
Hong Kong's rules for stablecoin issuers took effect on Friday as the government pursues its ambitions for the crypto sector. The special administrative region of China has taken steps in recent years to strengthen its position in the industry en route to realising its goal of becoming a hub for crypto and Web3 in Southeast Asia. It established a regulatory framework for crypto exchanges more than two years ago, and started consulting on stablecoin rules in 2023. The law governing stablecoins, which are cryptocurrencies whose value is pegged to a real-world asset such as the dollar, passed in May. Applications for licenses can be submitted from now for the next three months, according to Hong Monetary Authority (HKMA) guidance published on Tuesday. Firms that have submitted an application will be allowed to continue while their request is being considered until Jan. 31. While some 40 companies were reportedly waiting to apply for a stablecoin license last month, many are unlikely to be successful. The market has become "overly excited," HKMA CEO Eddie Yue wrote last month. The regulator is likely to approve fewer than 10. Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
a day ago
- Yahoo
Risetcar's driverless taxis are performing well in the US, with Jakarta operations set to launch soon
BOSTON, MA, Aug. 02, 2025 (GLOBE NEWSWIRE) -- Risetcar, an autonomous transportation technology company, has launched its self-driving taxi service in several US cities and achieved encouraging results. The company has received positive customer feedback and generated stable success is due to a precise distribution strategy that utilizes high frequency, small batches, and a controlled number of vehicles. This approach creates an efficient and environmentally friendly transportation system. Risetcar's Jakarta-based operations are scheduled to officially begin operations in October 2025, marking a new chapter in its Southeast Asian expansion. Risetcar is establishing a local operations system to accelerate technical training, system integration, and coordination with local partners and the city government. A spokesperson for Risetcar Indonesia stated, "We believe Indonesia has great potential for the application of autonomous vehicle technology. With regulatory support and infrastructure development, Jakarta will be one of the first cities in Southeast Asia to experience the benefits of self-driving taxis." Risetcar also stated that it is committed to continuously expanding the potential of autonomous transportation through technological advancements and cross-industry collaborations, including autonomous delivery of goods and partnerships with more logistics providers. Social Links Telegram: X: Media contact Brand: Risetcar Contact: Media team Email: service@ Website:
