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Finance / Malaysia
Second Finance Minister Nor Mohamed Yakcop stated on May 6 that Malaysia will retain its ban on ringgit borrowing for the purposes of trading, underscoring CFW's view that FX liberalisation in Malaysia will maintain its current gradual pace. The Malaysian Institute of Economic Research (MIER) had previously suggested that the country's impressive balance of payments performance...
2008-05-07Finance / Philippines
The announcement on May 6 by Philippine Long Distance Telephone Co. PLDT) that it has postponed the planned listing of its outsourcing unit SPi Global Solutions underscores the negative...
2008-05-07Finance / Australia
The battle for the Australian insurance market continues as QBE extends its bid for rival Insurance Australia. The bid faces opposition from the latter's board and QBE could thus...
2008-05-07Finance / Russia
A Russian mining merger may be even closer after United Company RusAl completed its purchase of a 25% stake in Norilsk Nickel on April 25. The 25% stake was bought from Onexim Group, which is controlled by Mikhail Prokorov. In return, Onexim received 14% of RusAl and an unspecified cash sum. RusAl Chief Executive Alexander Bulygin has stated that a merger would be in the interest...
2008-05-01Finance / Romania
Romania's privatisation agency, the Authority for State Assets Recovery (AVAS), re-launched the sale of IAR Ghimbav on April 21. AVAS has been trying to sell the helicopter maker...
2008-04-25Finance / Austria
Slovenia's largest international financial group, Nova Ljubljanska Banka (NLB), announced the sale of 898,204 shares on April 17. The sale will be conducted in three tranches and...
2008-04-25Finance / Ecuador
Less than a week after Ecuador's telecoms regulator, Conatel, rejected América Móvil 's third application to renew its mobile licence, the authorities have made an about turn after the country's largest operator improved its US$307mn offer. Operating under the brand name Porta in Ecuador, Mexico-based América Móvil will now have its mobile licence renewed for another 15...
2008-05-07Finance / Brazil
The largest steel-maker in the Americas, Gerdau Group, has entered into a strategic alliance with Corporación Centroamericana del Acero (CCA) in Central America. In the deal announced...
2008-05-02Finance / Brazil
After several months of speculation and rumour surrounding a proposed merger or take over of two of Brazil's telecoms operators, Oi has announced a deal to buy a controlling stake...
2008-05-01Finance
One of Kuwait's leading commercial banks, Burgan Bank, announced on May 12 that it had agreed to buy the holdings of Bahrain-based United Gulf Bank in four countries across the Middle East and North Africa region. The deal, which is worth around US$727mn, involves the sale of UGB's holdings in Algeria Gulf Bank, Bank of Baghdad, Jordan Kuwait Bank and Tunis International Bank....
2008-05-12Finance / Bahrain
Yemen's Tadamon Islamic Bank (TIB) has received a licence to set up international banking operations in Bahrain. The company has created a subsidiary, Tadamon Capital Bank, which...
2008-05-07Finance
Dubai World, the state-owned investment group, has said that it will offer higher rates when it meets with banks over the coming weeks to refinance a US$5bn loan it signed last year....
2008-05-06Finance / United States
US big-box retailer Best Buy is making a foray into Europe. The company agreed on May 7 to buy half of UK mobile phone and telecom company Carphone Warehouse's retail business, for GBP1.1bn (US$2.2bn).
2008-05-09Finance / United States
German telecoms incumbent Deutsche Telekom is reported to be considering a bid for troubled US mobile operator Sprint Nextel, following rumours that the Nextel unit of the company...
2008-05-07Finance / United States
After twelve weeks of negotiating and three rejected bids, Microsoft finally decided that it had had enough and abandoned its ambitious bid to acquire Yahoo. The announcement followed...
2008-05-07
