Are these Singapore firms involved in money laundering?
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SEVEN venture-capital companies have been selected by the National Research Foundation (NRF) to nurture high-tech start-up companies in their infancy in Singapore.
They are: Clearbridge Accelerator, I2G Tech Accelerator, Neoteny Labs, Plug & Play, Social Slingshot, Small World Group and Stream Global.
They had been chosen from 32 applicants by a six-member evaluation panel chaired by Mr Teo Ming Kian, Permanent Secretary (National Research & Development) in the Prime Minister's Office.
The NRF had launched its Technology Incubation Scheme in August this year, with a budget of $50 million, to encourage experienced entrepreneurs to invest in start-ups here and help them survive.
Under this scheme, the NRF will co-fund up to 85 per cent of the capital needed by each start-up, up to a maximum of $500,000. -
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Next time learn to copy and paste properly.
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HONG KONG (Reuters) - Geely, China's No.1 private carmaker, said on Thursday that its parent company has strong support from the Chinese government to acquire Ford Motor's Volvo unit, and expects robust growth for China's auto industry in 2010, also with help from Beijing.
'Without government support, the (Volvo) deal could not be done,' Gui Shengyue, chief executive of Geely Auto, said at a media briefing in Hong Kong on New Year's Eve.
Last week, Ford said it was nearing an agreement to sell Volvo to Zhejiang Geely Holding Group, underscoring China's arrival as a major force in the global auto industry.
Gui said he believed Zhejiang Geely Holding Group, parent of Hong Kong-listed Geely Auto, had financial support for the acquisition of Volvo.
Reuters reported on Dec. 1 that Geely was seeking at least U.S. $ 5 BILLION in loans to finance its U.S. $ 1.8 BILLION bid for Volvo, and that three major Chinese banks including one policy lender had agreed to offer the money.
Geely Auto would be looking for opportunities to participate in the Volvo project once the acquisition is closed, Gui said.
'The ultimate goal is to inject Volvo into the listed company,' said Gui. However, he added that he could not predict when that goal would be realised.
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