China Everbright Bank Co is set to raise USD 1.5 billion in its initial public offering in Hong Kong, based on calculations done on the lender's sale document.
Sectors
Indian ministries clash over capping foreign stakes in drug firms
India's finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Turkcell sues MTN in South Africa for $4.2 billion in Iran damages
Turkish mobile phone company Turkcell has taken to a South African court its $4.2 billion lawsuit against rival MTN Group, alleging it was the victim of "corruption and bribery" that caused it to lose a contract in Iran.
U.S. expands China hiring probe to Morgan Stanley
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China. The move comes as U.S. authorities expand their investigation into whether banks' hiring of politically connected Chinese employees may have breached U.S. bribery laws.
Orange picks up USD.1.4 from sale of Dominican Unit to Altice
Cable and telecommunications investor Altice's acquisition of Orange Dominicana SA was made in order to expand its already growing empire in the media business in the Dominican Republic.
Latest News
Moncler will be making a second attempt at an IPO, and is seeking to raise EUR 783 million or USD 1.1 billion in the share sale. Moncler is an Italy-based maker of ski wear.
As the new administration under Prime Minister Erna Solberg reviews the current investment mandate of its USD800 billion wealth fund, top officials like Norway central bank Governor Oeystein Olsen were pushing for a diversification of investments.
Florence Yip Chiu Kwai-fong, a member of the Financial Services Development Council, said the Hong Kong government needs to make changes in the law that will allow private equity funds to be set up as limited partnerships to enhance the city's fund industry.
In order to improve its finances and increase profits, European insurer Assicurazioni Generali said it plans to cut costs further by 2015 and bring down debt.
Rumors of coercion by the Russian government and President Vladimir Putin on local wealthy industrialists had been shut down by Deputy Prime Minister Dmitry Kozak, who said the moguls enjoyed good deals out of their investor participation for the 2014 Winter Olympics.
An unnamed source was cited by Bloomberg who said Malaysian billionaire Ananda Krishnan's Binariang GSM Sdn will decide whether to pursue its sale of around MYR6 billion or USD1.9 billion of Islamic bonds before the year ends.
Bahrain-based Islamic investment firm Tadhamon Capital announced that it has completed the acquisition of Paul Street development in London, in a joint venture with McLaren Property and Apache Capital.
Burger King Worldwide Inc. formed a joint venture with Bertrand Holding Co. and Naxicap Partners to open new stores in France in the first half of next year. Burger King returned to the country last year, opening three stores with Italian restaurant operator Autogrill.
According to a report from The New York Times' The Dealbook, the popularity of very lucrative but highly-risky business development companies has surged these days.
