Time Warner and CBS's complementary strengths would make a merger most viable. Time Warner Inc and CBS Corp have flirted about a merger for many years and now may be a good time for it to happen.

Cathay Fortune said it would not support the plan of Discovery Metals to expand capitalization. The top shareholder in Discovery Metals Ltd, private equity firm Cathay Fortune Corp said it would not vote for the approval of the company's plan to increase capital funding.

Ameriprise is set to bid for Scottish Widows. American financial service provider Ameriprise Financial is preparing a GBP800 million or US$1. 22 billion bid for Scottish Widows, the asset management arm of Lloyd's Banking Group.

HSBC is reviewing presence in Iraq and expanding in Egypt. HSBC Holdings is currently undertaking its strategic review of operations in Iraq. At the same time, it is continuing to expand its investments in Egypt despite the current situation in the country.

The beleaguered OGX Petroleo is seeking stake sales of oil interests with Petronas and Lukoil. The flagship corporation of Brazilian mogul Eike Bautista, OGX Petroleo e Gas SA, is in negotations to sell off its 40% shareholdings to Russia's Lukoil.

Nikkei reports Mitsui and Kawasaki are in merger discussions. Mitsui Engineering and Shipbuilding Co and Kawasaki Heavy Industries Ltd are to begin merger discussions.

As one of the most productive cities in the world, the one week terror lockdown has both economic and emotional scars on the proud city.

Greece to receive aid for payment of its bills. According to reports of two Greek newspapers on Saturday, about Eur3. 2 billion was set aside to rescue Greece from its financial obligations, which came earlier than expected.

In polls conducted by two newspapers, Austrians do not mind relaxation of bank secrecy laws for foreign accounts in their banking system.

Russia extends help but conditions that help on "taking their interests into consideration."