China establishes free trade zone to help liberalize yuan trade. In an expected move, China had issued a directive to allow free exchange of the yuan currency within the borers of its first free trade zone.
Asia/Pacific
Marubeni-Itochu Steel agrees on USD 600 million purchase of Sooner Inc
Marubeni-Itochu Steel announced its purchase of US pipes trader Sooner Inc for USD 600 million. Marubeni-Itochu Steel Inc said it would purchase Sooner Inc for USD 600 million.
Ping An Bank sells CNY 14.8 billion to parent Ping An Insurance
Ping An Bank would sell more than 1 billion in new shares to its parent company Ping An Insurance to raise core capital.
Jacobs Engineering buys Sinclair Knight Merz
US engineering firm Jacobs Engineering purchases Sinclair Knight Merz for USD1.2 billion. AUD1. 3 billion is the price tag Jacobs Engineering Group would pay to acquire Sinclair Knight Merz.
Vingroup postponing share and bond sale
Vietnam's largest mall operator had recently decided to withdraw its IPO and bond listing in the SGX due to continued capital flight from emerging markets.
Latest News
Performance as well as past are major points to review in assessing a CEO's continuity in the position.
KazMunaiGaz purchases Kashagan oil field shares for Kazakhstan. Soon after the blocking the USD5 billion deal for ONGC Videsh Ltd, Kazakhstan soon transferred a 8.
Muthoot Finance announced the construction of new ATMs to expand its operations. One of the leading gold financing firms in India, Muthoot Finance, had drafted plans to construct 250 white label ATMs in the next three months.
The General Administration of Customs registered above projected numbers in terms of overseas shipments.
BMW is appealing a decision to impose a EUR150 million fine for alleged customs laws violations. German car giant BMW is set to face fines worth EUR100 million in India for allegations of violations committed against the country's importation rules.
Reuters columnist James Saft wrote in his latest column that a reform change, and not a new central bank governor, could help the falling rupee and the Indian economy.
Reserve Bank of Australia's (RBA) statement on its national currency prompted an opposite reaction to the Aussie dollar and borrowing rates.
Bloomberg Businessweek reported that the Bitcoin frenzy had reached China. Bloomberg Businesswee reported that the Bitcoin frenzy had gripped China. The world's second largest economy had become the second largest maker of Bitcoins worldwide, according to data compiled by SourceForge.
Analysts said that though economies in Euro Zone and China were experiencing significant growth spikes in their economies, emerging economies of India, Italy and France are not faring well.
