Russian energy company GazProm signed a loan agreement with Bank of China on Thursday. GazProm borrowed €2 billion ($2.17 billion) on a 5-year term
Indian stock markets recorded gains from continuous buying support from foreign institutional investors (FIIs). Encouraging global cues also led the stocks gain on Indian bourses. The latest institutional support made the best three-session rally since September 2013.
Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
China will lower threshold for foreign investment and advance the revision on relevant regulation. China targets to attract more foreign investment in the country.
Ma is going to expand his control in media arena through acquiring stake in Caixin Media. However, the media company has confirmed that the potential investors primarily agreed not to interfere in Caixin’s editorial interest. Details of the possible deal hasn’t been available from either party.
Indian Finance Minister has apparently faced the brunt of imposing tax on withdrawals from EPF. Ahead of widespread criticism, he has explained certain provisions in the proposed budget arguing in its favor. However, he has hinted for a partial rollback.
Spain-based Caixabank is planning to buy the stake of Isabel Dos Santos in Portugal's Banco BPI SA. The negotiations over the acquisition are still going on and may be completed soon.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
Internet service provider MyRepublic bid to become the fourth mobile-phone carrier in Singapore. The company aim to reach profit within three years of operation.
The Dell's acquisition of EMC Corp for $59 billion is going ahead as per the schedule. EMC shareholders are expected to vote on the deal in May. Dell's Michael Dell said in a memo that the deal would be completed according to the stipulated schedule.
The bigger companies are getting global through acquiring operations in the regional markets, which has become a trend in the multi-billion dollar market. Following the trend, Hong Kong based firm Mobvista has announced on Monday acquiring NativeX for $24.5 million. Through the deal, NativeX has been expected to contribute for achieving Mobvista’s international goals and successes.
India's budget allocation for the defense sector fell for the first time in the latest Union Budget-2016. India had been increasing military budget since its war with China 1962. It was notably down to 1.65 percent from 1.74 percent in previous budget.
China has decided to layoff millions of workers from 'zombie enterprises' in the next two to three years. For relocating retrenched workers, the government will spend Yuan 100 billion ($15.27 billion). China's economy is suffering from industrial overcapacity and pollution levels.
Israel is witnessing an increasing number of new venture capital (VC) firms coming up. The country registered an inflow of $665 million VC funding during the first two months of the year. Unfazed with the recent market crash, the funds inflows continue for Israel startups.
China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.