Petrobras is now setting up its plan for the auction of its shares in Nigerian oil fields Brazilian oil firm Petrobras has auctioned its interest in the oil fields in Nigeria that would draw up to $5 billion as the company aims to get cash and embarks on a capital spending plan, sources familiar with the matter told Reuters.
Industry
IPOs in First Quarter Sets Stage for Growth
The IPO market is growing again in North America and Europe. Globally, initial public offerings raised US$20 billion in the first quarter of 2013. The growth of this financial area was buoyed by rallies in different stock markets to sell businesses.
Russia's VTB Completes Tele2 Buyout
Banker VTB has successfully acquired the Russian operations of Swedish telecoms operator Tele2 as it hopes for potential investors.
Toyota Industries Closes Tender Offer for Cascade Share
Transportation equipment firm Toyota Industries Corp. made completion of its tender offer for shares in Cascade Corp.
EADS Pledges Planned BuyBack Won't Hurt Future Growth
EADS plans to prevent the planned buyback that is hampering its future growth and capital spending. European aerospace group EADS has made a pledge that it will prevent a supposed share buyback hurting capital spending, dividends and future growth as its shareholders planned to make a vote on proposals to purchase again up to 15% of the company stock.
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SBM Offshore, along with its partners, has signed a $3.5 billion contract from Brazilian oil firm Petrobras to construct two oil platforms.
Armada Hoffler Properties Inc. is planning to raise $201.3 million from IPO as it hopes to become an REIT.
Shell says China approves a product-sharing contract for the share gas block in Sichuan. Royal Dutch Shell has received approval from China for a production-sharing contract for the Fushun shale gas block in the southwestern province of Sichuan as it steps up drilling activities in the Asian country.
After so many years, the two major firms namely Roland Berger and Deloitte have been talking merger.
SEC chairman Elisse Walter urged during video conference at the annual forum of the Australian Securities and Investment Commission that foreign regulation should be applied for cross-border trades.
Argentina has recently instituted new regulation for investments to curb capital flight and retain dollars.
SEC Chairman Elise Walter proposes foreign regulatory guidelines for cross border trading especially with over the counter derivatives trades.
Standard is considering to buy a bank in Egypt as it sees economic stability in the country. Standard Chartered plans to buy an Egyptian bank to benefit from the booming lending sector of the Middle East, regional head Christos Papadopoulos said.
Colombia, Peru, Costa Rica and Mexico are preparing its financial systems for the pressure from foreign markets on their currencies.
