The former European football giant in the 1990's are facing a financial strain. After a huge financial loss, AC Milan badly needs new investment.
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Old Mutual Reportedly Planning to Split Into Several Units, The Company Stated It's Considering All Options
Giant South Africa-based international banking group Old Mutual has stated that they are considering all options as a result of a strategic review. Many believe that the group is planning to split itself into several business units.
PSE To Formulate Market Friendly Laws Facilitating DDS Transactions
PSE has been seeking comments and suggestions on its proposed law for transactions of DDS. The procured comments and suggestions will be evaluated while drafting the rule, aiming to reflect market demands. Comments and suggestions may be sent up to March 22.
French Utility EDF CFO Resigns Possibly For Disagreement With CEO Over £18 Billion Hinkley Point project
Thomas Piquemal, chief financial officer of the French utility EDF has been rumored to resign over disagreement with company CEO. Due to decade low wholesale prices of electricity, the business has been forced to borrow billions of Euros for payment of dividends. Under such financial hardships, Piquemal has suggested to wait at least three years in finalizing the project plan.
Egyptian Billionaire Naguib Sawiris Will Finalize Acquisition of CI Capital Holding by the End of March
The acquisition will create a second largest investment bank in Egypt. Sawiris acquired CI Capital Holding with its investment arm, Orascom Telecom Media and Technology.
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Ending a sanction on Iranian oil export, The Monte Toledo, an oil tanker appears as the first to deliver crude oil in Europe since mid-2012. Iran’s oil export during February falls short from its earlier announcement for adding 500,000 barrels per day to the global oil market. However, industry insiders presume for Iranian oil exports in larger volume to Europe and Asia during the current month.
South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.
A new Disney animation film Zootopia sets its debut in American and Canadian theater this weekend. Its debut exceeded Frozen and sets a new record, booking $73.7 million.
Islamic Finance is catching up among non-Islamic markets also. Economists and finance experts say that Islamic Finance is the need of the hour for the global economy in the wake of sluggish markets and looming uncertainty. Islamic finance assets globally are expected to be $1.8 trillion by 2020.
John Longworth, director general of British Chambers of Commerce (BCC) announced his resignation on Sunday. He was suspended before for publicly showing his support of Britain to exit European Union.
GasBuddy has been introduced today in Australia where it runs in the US since 2004. GasBuddy users just need to submit their seen petrol prices at gas station and they will have the chance to win $100 voucher worth of free gas in the daily draw. The app is free and is accessible through Android and iOS smartphones.
Egyptian-Chinese industrial zone in Ain Sokhna may attract $5 billion investments. About 100 companies are expected to set up their operations in the zone paving the way for creation of employment opportunities for about 30,000 people.
India's services sector recorded 85.5 percent surge in inflows of foreign direct investments (FDI) during April - December 2015 period. This is 17 percent of the total FDI that India received during the period. The services sector contributed over 60 percent to the country's GDP.
Chicago Mercantile Exchange is the latest bourse that has shown interest in acquiring London Stock Exchange (LSE). Intercontinental Exchange (ICE) has already announced its intention to bid for London Stock Exchange. The merger talks on £20-billion merger plan between Deutsche Boerse and London Stock Exchange are in progress.
