China would be giving perks for foreign and private investors interested in providing elderly care services and facilities in the country.

Pertrobras sold oil assets to raise USD2 billion to finance five-year plan. Petróleo Brasileiro SA (Petrobras) has sold oil stakes on different petrochemical and oil explorations projects.

Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.

An explosion rocked the commodities port of Umm Qasr in Iraq. Two workers said the port of Umm Qasr was hit by a blast. A major commodities port located near Basra, Umm Qasr is also one of the largest in Iraq.

Experts said Al Jazeera America needs to define its mission to be able to succeed with its American audience.

Obama reopened issue on Fannie Mae and Freddie Mac to spur delayed housing policies reforms. US President Barack Obama recently revisited the issue on the need for major reforms on the housing market policies.

Capital One Financial Corporation on Friday entered into a deal with Fannie Mae-headed Beech Street for an undisclosed amount.

North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.

Technology infrastructure maker Cisco announced modest revenue growth for this quarter even as it cut its workforce to reduce costs.

US Airways and American Airlines promised to fight the antitrust lawsuit filed by the US Department of Justice, of which halted the airline companies' USD 11 billion merger.