IN BRIEF

China allows insurers to invest in PE, real estate

SHANGHAI: China will allow insurers to broaden investment channels into private equity and real estate, a move that could unleash as much as US$100 billion worth of fresh funding into unlisted firms and the property sector. Chinese insurers are allowed to invest up to five per cent of their assets in private equity and 10 per cent in real estate, according to the China Insurance Regulatory Commission (CSRC) over the weekend.

Aussie inflation gauge good for rates

SYDNEY: A private gauge of Australian inflation rose only modestly in August while underlying price pressures eased further, another sign that interest rates are unlikely to increase in the near term. The Reserve Bank of Australia (RBA) holds its September policy meeting yesterday and a Reuters poll of 22 analysts shows all expect rates to stay at 4.5 per cent for a fourth month.

Australia's Macquarie warns on profit

SYDNEY: Australia's top investment bank Macquarie Group Ltd warned investors it would miss profit forecasts after weak markets took a toll on its trading and advisory business, sending its shares to a 15-month low.

China workers to sue Mitsubishi Materials

BEIJING: About 100 elderly Chinese who say they were forced to work in Japanese mines during World War Two plan to sue the Mitsubishi Materials Corp next week, the Xinhua news agency said yesterday, citing their lawyer.

Agencies