Microsoft said it would be buying the handset business of Finnish company Nokia for EUR5.44 billion or USD7.2 billion, with Nokia CEO Elop and other senior executives transferring to the American multinational software firm.
Firm Management
India's new central bank governor to step into eye of rupee storm
Raghuran Rajan, the newly appointed bank governor of India's central bank would step into office in the eye of a roiling storm in the country's economy.
Nokia handset unit sale to Microsoft hammers hedge funds
The announcement of Nokia selling its handset unit to Microsoft Corp. had left hedge funds rushing to unwind their bets, leaving the Finnish company to score a record gain per day.
RHB Bank to appoint Khairussaleh Ramli as deputy CEO- sources
Sources told Reuters that RHB Bank of Malaysia would poach Maybank's Indonesian unit head Khairussaleh Ramli and appoint him as RHB's new Deputy CEO.
Central Pattana allocates THB 15 billion for Southeast Asian expansion
Thailand's largest shopping mall developer, Central Pattana, said it would be spending THB 15 billion to expand in Southeast Asia.
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Wison Engineering Services Co. Ltd, is cooperating with Chinese authorities investigating the corruption allegedly committed by the current state assets regulator during his tenure as PetroChina head.
The suicide of a Zurich Insurance executive might threaten opportunities for its former CEO Josef Ackermann who announced resignation from the company last week.
Germany's steel maker ThyssenKrupp denied reports of having cancelled the sale of Steel Americas.
Lufthansa had decided to scrap the current pension plan to a plan that is tied to investment returns of the fund.
CBS Corp and Time Warner Cable had reached an agreement to end a month long cable blackout of some shows in New York, Dallas and Los Angeles.
In a filing on the Bombay Stock Exchange, the State Bank of India said that it had raised its stake in its Indonesian subsidiary by 99%.
Polands 2014 privatization target would be met through several sale of its stakes in listed firms. Poland had expected to meet privatization targets by 2014 through several sale of its stakes listed in companies.
Suntech Power, the solar energy corporation, announced a plan to convert debt to equity as well as inclusion of a new strategic partner.
Istithmar World announced the appointment of Ziad Makkawi as its new CEO. The state owned conglomerate of the United Arab Emirates, Dubai World, announced the completion of a USD 25 billion debt restructuring in 2011.
