Continental Grain Co has criticized the continuous reply of Smithfield Foods. One of the biggest shareholders in Smithfield Foods Inc, Continental Grain Co has urged the meat company to add three new directors to its existing board.

Arabtec has gained approval for the purchase of 45% of EFECO from its shareholders. Arabtec would be purchasing 45% of Emirates Falcon Electromechanical Co or EFECO shares that the Dubai based builder does not already own.

Emirates NBD has repaid its bailout funds in the amount of 3 billion UAE dinars. Dubai's largest financial institution, Emirates NBD has repaid for April the amount of 3 billion UAE Dinars or US$816.

At the opening of market trading, Vodafone shares increased in light of rumored buyout offer from Verizon.

IHSI shares are now publicly traded in OTC Bulletin Board. The board of Intelligent Highway Solutions Inc has announced that shares of stock under the ticker symbol IHSI has been traded publicly in the OTC Bulletin Board.

Kawasaki Heavy Industries is open for merger option but has not made formal moves despite report from Nikkei newspaper.

In a surprising move, Ramky Enviro has suspended the scheduled IPO citing 'tepid market conditions.'

Potash Corp of Sasketchewan has formally withdrawn its takeover bid over Israel Chemicals. The Potash Corp of Saskatchewan Inc has cancelled a proposed takeover bid for Israel Chemicals Ltd after criticism of the deal was made by workers and politicians alike.

SDA rates cut by Bangko Sentral ng Pilipinas to limit inflows and increase outflows. For the third time this year, the Philippines has cut rates it pays on special deposit accounts in an effort to curb capital inflows and prevent asset bubbles.

Royal KPN is now selling shares at 62% value of closing price in the Dutch bourse last Thursday. Royal KPN NV is in the process of conducting a Eur3 billion or US$3.