Country Investment

Indian company BSEL Infrastructure Realty Ltd (BSEL) has pledged to invest RM15bil for 12 years in several development projects in Iskandar Malaysia.

The company has signed a memorandum of understanding with the Iskandar Regional Development Authority (IRDA), where IRDA would help BSEL to seek approvals and permission from various authorities to facilitate its development.

Investment in Bangladesh's fast-growing mobile phone market is set to jump 21.43 percent and top $3.4 billion in the year to June 2008, the Asian Development Bank said on Sunday.

Bangladesh's six mobile phone operators added 1.41 million new subscribers in April, lifting the user base to 40.34 million, according to the latest data from the telecoms regulator.

Algerian state power utility Sonelgaz plans to invest $19.8 billion between now and 2013 to boost output and expand distribution, its chief executive said on Sunday.

Nourdine Bouterfa told a news conference $7.5 billion would be spent on new gas-fired power plants and "not less than $12.3 billion" on transporting and distributing electricity and gas.

Mexican President Felipe Calderon made an investment pitch Tuesday to business officials, saying his country has "solid economic fundamentals" and is dealing with transportation needs and crime.

And while Calderon has criticized U.S. immigration policy, he said U.S. investment in his country could ease the pressure for Mexicans to move — legally or otherwise — to the United States.

Kuwait's Securi-ties House said it had launched an Islamic investment bank in Britain, allowing Gulf-based firms to access capital markets and Western borrowers to diversify portfolios.

The unit, Gatehouse Bank, will focus on Islamic capital markets, institutional wealth management, Islamic treasury business and advisory services, it said yesterday.