In a surprising move, Ramky Enviro has suspended the scheduled IPO citing 'tepid market conditions.'
Sectors
Continental Grain Co Criticizes Smithfield Foods Reply
Continental Grain Co has criticized the continuous reply of Smithfield Foods. One of the biggest shareholders in Smithfield Foods Inc, Continental Grain Co has urged the meat company to add three new directors to its existing board.
Arabtec Acquires EFECO
Arabtec has gained approval for the purchase of 45% of EFECO from its shareholders. Arabtec would be purchasing 45% of Emirates Falcon Electromechanical Co or EFECO shares that the Dubai based builder does not already own.
ENBD Pays Back Bailout Funds
Emirates NBD has repaid its bailout funds in the amount of 3 billion UAE dinars. Dubai's largest financial institution, Emirates NBD has repaid for April the amount of 3 billion UAE Dinars or US$816.
Vodafone shares rise on rumored bid from Verizon
At the opening of market trading, Vodafone shares increased in light of rumored buyout offer from Verizon.
Latest News
Potash Corp of Sasketchewan has formally withdrawn its takeover bid over Israel Chemicals. The Potash Corp of Saskatchewan Inc has cancelled a proposed takeover bid for Israel Chemicals Ltd after criticism of the deal was made by workers and politicians alike.
SDA rates cut by Bangko Sentral ng Pilipinas to limit inflows and increase outflows. For the third time this year, the Philippines has cut rates it pays on special deposit accounts in an effort to curb capital inflows and prevent asset bubbles.
Royal KPN is now selling shares at 62% value of closing price in the Dutch bourse last Thursday. Royal KPN NV is in the process of conducting a Eur3 billion or US$3.
Baidu has acquired PPS Net TV as reported by China Business News. The largest search engine of China, Baidu Inc is now processing the acquisition of PPS Net TV, a Chinese online video company.
Arseus acquires Freedom Pharma to create a global niche for drug compounding. Arseus, in an announcement, made public its acquisition of Freedom Pharmaceuticals.
The neighbors at the Formosa Strait are now in agreement as to oil and gas explorations in Myanmar. Sinopec Group, the largest Asian oil refiner, had announced last Thursday that it had entered into an agreement to sell its 30% shareholdings in an oil and gas block located in Myanmar.
With the T-Mobile USA and MetroPCS Communications deal, Deutsche Telekom finds a way to stage a comeback into US markets.
Atos is seeking for a minority investor for its electronic payments unit. Atos, a French computer services firm, has received informal bids from potential partners for its new electronic-payments unit.
Infosys, the paragon of market guidance, has now experienced the shock of falling share values because of failed earnings expectations.
