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IFC Seeks to Invest $2 Billion in Brazil in Next Fiscal Year

International Finance Corp., a World Bank affiliate, is planning to invest around $2 billion in Brazilian companies in order to support the Latin American country's private-sector development, according to Loy Pires, IFC's senior manager for Brazil.The investment plan will take place in the next fiscal year starting July. By comparison, in the July 2012-June 2013 fiscal year, IFC's investment in Brazil also totaled $2 billion."There are good opportunities of investments in Brazil that will generate an impact on development. IFC's investments always involved minority stakes in companies and certain rights, such as indicating a member for the board of the company," said Mr. Pires in an interview. "Our task is to give orientation in those companies that we invested in regarding corporate governance, deep knowledge of the specific sector and also sustainability."The IFC seeks to invest in the financial sector, energy, low-income housing, business hotels, agriculture and water. IFC plans to...

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  1. ING , Dutch State Disagree on Selling US Mortgages Portfolio - Report

    The Dutch state and ING Group NV (INGA.AE) are at loggerheads over how to sell the bank's portfolio of so-called Alt-A U.S. mortgages, Het Financieele Dagblad report...

  2. ING's IPO Priced at $19.50 a Share, Below Expected Range

    Insurance and retirement-savings plan provider ING U.S. (VOYA) saw its initial public offering price below its expected range, prompting the sale of more stock than ...

  3. Neuberger Berman Forms Emerging-Markets Debt Team

    Money manager Neuberger Berman Group LLC on Wednesday said it created its first-ever dedicated emerging-markets debt team.To form the new team, Neuberger Berman, whi...

  4. ING U.S. Plans 2nd-Largest U.S. Debut in 2013

    The market for initial public offerings has been hot this year, but it faces a test with ING U.S.'s $1.4 billion debut, slated to be the second-biggest U.S. IPO this...

  5. Asian insurance M&A gets pricey as region's promise beckons

    A deal-making frenzy in Asia's insurance industry is turning up the heat on buyers to fork out huge sums or miss out on a prime chance to tap into the sector's faste...

  6. ING To Sell Custody Services In 7 European Countries to Citi

    Dutch bank ING Group NV (ING.AE) said Friday it will sell its custody services in Bulgaria, the Czech Republic, Hungary, Romania, Russia, Slovakia and Ukraine to Cit...

  7. ING Life Insurance Korea Deal in Due Diligence

    Five potential bidders are conducting preliminary due diligence on a possible purchase of at least 51% of ING Groep NV's (ING) Korean life-insurance operations, peop...

  8. BBVA Sells Peruvian Pension Unit to Sura, Bank of Nova Scotia

    Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC), the Spanish banking giant, is exiting the Peruvian pension fund business as part of its efforts to focus on its c...

  9. BBVA Sells Peruvian Pension Unit to Sura, AFP Profuturo

    BBVA (BBVA.MC) has sold its Peruvian pension unit, with Colombia's Grupo de Inversiones Suramerica SA and AFP Profuturo taking equal stakes.Grupo de Inversiones Sura...

  10. Capital One's Profit Fell 24%; EPS Beats Expectations

    Capital One Financial Corp.'s (COF) first-quarter earnings fell 24%, a year after the company recorded a $594 million gain related to its acquisition of ING Direct U...

  11. Capital One 1st-Quarter Profit Fell 24%; EPS Beats Expectations

    Capital One Financial Corp.'s (COF) first-quarter earnings fell 24%, a year after the company recorded a $594 million gain related to its acquisition of ING Direct U...

  12. Capital One 1st-Quarter Profit Fell 24%; Year-Earlier Include Big Acquisition-Related Gain

    Capital One Financial Corp.'s (COF) first-quarter earnings fell 24% amid a modest revenue decline and as the prior-year period included a $594 million gain related t...

  1. Morgan Stanley sued in 'pay-to-play' retirement plan case

    Morgan Stanley has been sued by an Alabama medical laboratory that claims it steered retirement plan business to ING U.S. Inc and others in exchange for extra fees i...

  2. WEEK AHEAD: Home Depot, Lowe's, Best Buy, Housing Data in Spotlight

    Retailers will be the dominant sector on next week's earnings calendar, with many big names in the space reporting.Also, some housing data should provide clues about...

  3. IFC to Buy 7.9% Stake in Brazil's Sul America for BRL400 Million

    International Finance Corp., a World Bank affiliate, agreed to acquire a 7.9% stake in Brazil's insurance company Sul America SA (SULA11.BR, SULA4.BR) for 400 millio...

  4. Capital One Credit-Card Delinquencies Fall in April

    Capital One Financial Corp. (COF) said its U.S. credit-card delinquencies fell in April from March, while its international credit-card business also showed a declin...

  5. ING CEO: US IPO Amounts to 'Significant Capital Destruction'

    The initial public offering of ING Group NV's (INGA.AE) U.S. insurance business at 50% of its book value means a "significant destruction of capital," Chief Executiv...

  6. ING Profit More Than Doubles, Aims For European Insurance IPO in 2014

    Dutch financial services group ING Group NV (ING) said Wednesday that first quarter net profit more than doubled, mainly due to a gain on the sale of its Asian life ...

  7. EARNINGS FORECAST TABLE: ING Groep 1Q 2013

    The following is a summary of analysts' forecasts for ING Groep NV (ING) first-quarter results, based on a poll of six analysts conducted by Dow Jones Newswires (fig...

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