Vietnam has increased the foreign ownership caps in banks from the previous 15% to 20% in a bid to boost the country's ailing banking system, according to a government statement.
Legal & Regulatory
Private equity managers in Asia not inspired by reopening of IPOs in China- report
The reopening of the IPO market in China did not inspire private equity managers in Asia who do not believe that the development would help companies make profitable exits.
Apple, Samsung agree to bring in mediator to resolve dispute before March trial
Apple and Samsung consented to have a mediator to help put an end to their patent disputes before their next trial will begin in March, Bloomberg reported.
JPMorgan to pay $2.6 billion to US government, victims related to Madoff Ponzi scheme
Investment bank JPMorgan Chase & Co. has agreed to a $2.6 billion settlement with the US government and victims of the Bernard Madoff Ponzi scheme. Government prosecutors alleged that JPMorgan failed to share its suspicions of fraud at Madoff's fund with the US authorities.
Alibaba's Taobao to ban sale of Bitcoin, related products following stricter rules from country's central bank
As China's central bank makes regulations regarding digital currencies stricter, Alibaba Group Holding will be banning the sale of Bitcoin and other related products, Bloomberg reported.
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Some of LightSquared's lenders, including US Bank and MAST Capital Management,are against its decision to seek a new financing arrangement with Fortress Investment Group as part of its bankruptcy exit plan.
Murray Goulburn Co-operative Co. Ltd. expects a decision from the Australian Competition Tribunal on its bid for Warrnambool Cheese and Butter Factory Holdings Co. by the end of February. Murray Goulburn raised its offer to A$530 million as it faces strong competition with Canada's Saputo Inc.
Citing a copy it obtained of Document 107, Reuters reported that the State Council of China has published guidelines that aim to fortify regulation against the risky practice of shadow banking.
Spain's Telefonica said it was not thinking of making a joint bid for TIM Brasil, the Brazil-based wireless network operator of Telecom Italia, Reuters reported.
The $570 million debt settlement offer that will give control of Israel's IDB Holding Corp to Argentine businessman Eduardo Elsztain was approved by a court in Tel Aviv, Bloomberg reported.
GlaxoSmithKline has asked for the approval of India's Foreign Investment Promotion Board for its planned acquisition of a 24.33% stake in its Indian arm GlaxoSmithKline Pharmaceuticals Ltd. GSK will fund the stake hike by investing INR6,400 crore.
A Mississippi bankruptcy judge on Friday approved the sale of bankrupt car rental company Advantage Rent A Car to Canadian private equity firm Catalyst Capital Group.
The Permanent Court of Arbitration in The Hague, Netherlands has pushed back an arbitration claim hearing involving Chevron Corp. and Ecuador to February. Chevron was indicted for environmental damage done in Amazon by Texaco.
China said it would give more support to the domestic solar power industry as the government seeks to revamp a sector that is plagued with overcapacity and lower prices, Reuters reported.
