Orsi, arrested for the India helicopter scam, was released pending trial. Former Finmeccanica CEO has been released from jail pending trial on charges of corruption next month.
Asia/Pacific
Buffett Rebuffs Suntech Rumor
Buffett denies speculation that Suntech is in the list of acquisitions of MidAmerican Energy. The chairman of Berkshire Hathaway, Warren Buffett has indicated that he has no plans to purchase Suntech Power Holdings Co.
GM Increases Investments in US Compared To China
GM, in a letter obtained by the Wall Street Journal, said it would increase its capital funding in the US compared to China.
Alibaba IPO Coming Soon
According to Alibaba CEO Jack Ma said that the IPO would be coming soon. The world's largest online retailer is trying to avoid experiencing the issues Facebook had faced with its initial public offer.
Hopeful Recovery for Vietnam
Vietnam's foreign exchange decline now reversing. In a report from Reuters, it was disclosed that the inflows of foreign investments to Vietnam had already reached US$2.
Latest News
Asian nations issue statement to avoid mistakes that lead to 1997 currency crisis. Major regional economies in Asia need to be on guard against execssive risks and asset bubbles boosted by efforts of central banks efforts to build economic growth.
New Century prepares for an IPO estimated to earn US$300 million. China's largest privately owned hotel chain mogul, the New Century Hotel Group, is planning to raise US$300 million in its first initial public offering by a real estate investment trust within the next two years.
Reliance deemed as frontrunner to acquire IMG. In a report from the Indian Express, it was disclosed that the Chairman of Reliance Industries Ltd. Mukesh Ambani is in discussion regarding the acquisition of IMG Worldwide, a talent agency based in New York, according to anonymous Reliance officials.
Dish Network bid cut up by Softbank CEO. Softbank's list of achievements in order to acquire Sprint Nextel just got shorter when it was allowed by the Securities and Exchange Commission to send out proxy materials to its shareholders regarding the upcoming vote for the said buyout transaction.
Li Ka-shing invests in a center for medical data analaysis and processing in Oxford University. The richest man in Asia, Li Ka-shing is investing in a new research center located at Oxford University.
STX Corp to sell STX Energy Co shares to Hahn & Company. An STX spokesman confirmed Friday that STX Corp would be selling off 43. 15% shareholdings in its afflilate STX Energy Co Ltd to private equity firm Hahn & Company.
Geodynamics seeking new partner for its Innamicka project located in central Australia. Geodynamics is a firm whose business explores the underground as a means to harness the power generated from hot rocks.
Former Goldman Sachs banker Fang Fenglei opens new fund named Hopu Master Fund II. Former Goldman Sachs banker, Fang Fenglei, is now undertaking a mission to raise US$2 billion in a new fund, according to anonymous sources familiar with the transaction.
Sinopec Kantons, a division of state owned Sinopec, is planning an IPO. The logistics and trading unit of Sinopec, Sinopec Kantons Holdings, is planning to raise US$353 million through a stock offer.
