Citing sources, Bloomberg reported that Singaporean lender Oversea-Chinese Banking Corp or OCBC has submitted a binding offer for Hong Kong-based family-run lender Wing Hang Bank Ltd.
Asia/Pacific
Philippine bank RCBC completes exit of 65pct stake in Bankard
Philippine-based bank Rizal Commercial Banking Corp (RCBC) has completed the sale of its 65% stake in credit card issuer Bankard Inc to RYM Business Management Corp, according to a disclosure to the Philippine Stock Exchange.
Fed's taper could start reforms in emerging markets - report
Countries in emerging markets like Turkey and India should see the bright side of the tapering of the $85 billion-a-month money-printing program by the US Federal Reserve this month, according to a Reuters report.
Oddball Chinese magnate looking to buy the New York Times
45 year-old recycling magnate Chen Guangbiao, whose charity works and publicity stunts are more known rather than his business sense, has claimed that he will be extending an offer to acquire the New York Times Co for $1 billion.
Tata Teleservices rallies 14.79% following reports on stake sale talks with Vodafone
Shares in Tata Teleservices rallied to as much as 14.79% on Friday following news on buyout talks with British telecom company Vodafone. Indian conglomerate Tata Group is reportedly in talks with Vodafone to sell its 59.45% stake in Tata Teleservices.
Latest News
US-based firm Cooper Tire & Rubber Company announced via press release that it has called off its merger plans with India-based manufacturer Apollo Tyres and will focus on building its business instead.
Hong Kong-based children's entertainment startup Roam & Wander successfully raised an undisclosed amount of funding from Hong Kong and Taiwan angel investors as it prepares to expand its US retail operations.
Oil & Natural Gas Corp or ONGC said it would be spending about $9 billion in the next ten years to produce oil found in new blocks in the east coast of India.
In an announcement made today, Groupon said it has completed its $260 million acquisition of LivingSocial Korea, which is the holding company of Korean ticket and e-commerce company Ticket Monster.
Bitcoin ATM startup Robocoin intended to prioritize the demand of Bitcoins in the Asian region with the planned debut of its ATMs in Hong Kong and Taiwan this January, said a TechCrunch report.
Keppel Telecommunications & Transportation Ltd is planning to list its real estate investment trust or REIT, Bloomberg reported. Meanwhile, The Wall Street Journal reported that the Singapore-listed company intends to raise more than $400 million for its data center businesses.
Indian business tycoon and Cosmo Films Ltd Chief Executive Officer (CEO) Ashok Jaipura bought the Malaiwana luxury residences estate in Phuket, Thailand for an undisclosed sum.
China Gold International, a Vancouver-based gold miner, is interested in acquiring gold or copper mines in Canada, but is not willing to overpay for it. China Gold is backed by China's biggest gold producer China National Gold.
Fisker Automotive, the bankrupt maker of plug-in hybrid sports cars, seeks a bankruptcy court ruling rejecting the company's sale to Chinese auto parts company Wanxiang Group. Fisker blames Wanxiang for its bankruptcy.
