Judge Kevin Gross of the US Bankruptcy Court in Wilmington, Delaware on Friday rejected a planned sale of Fisker Automotive to Hong Kong businessman Richard Li. Gross ruled in favor a competitive bidding between Li and Chinese auto parts maker Wanxiang Group instead.
Asia/Pacific
Canaan Partners invests in Indian digital media firm SureWaves
Connecticut, USA-based venture capital firm Canaan Partners invested INR35 crore in Bangalore, India-based digital media firm SureWaves for the latter's global growth and workforce expansion.
Millennium Global takes controlling stake in Philippine seafood explorer Millennium Ocean
UK-based institutional currency investment manager Millennium Global Holdings Inc acquired a 51% stake in Philippine-based seafood exports business Millennium Ocean Star Corp in a deal valued at PHP137.91 million.
Power Assets Holdings Ltd reduces HK Electric Investments IPO size to $3.6B
Power Assets Holdings, the firm controlled by Li Ka-shing, has reduced the initial public offering size of Hong Kong's second largest power supplier, HK Electric Investments, Bloomberg reported.
Report says coming golden age for US dollar portends crises in emerging markets
As the US economy shows signs of improvement and the dollar continues to show signs of growing strength, emerging markets could experience a crises, the Financial Times reported.
Latest News
China-based automotive glass supplier Fuyao Glass Industry Co will pour in a $200-million investment to build a manufacturing facility at the former assembly plant of General Motors (GM) in Ohio, US.
Michigan, US-based multinational food manufacturing firm Kellogg Company is pouring in $130 million (MYR428.2 million) in a new manufacturing plant in Malaysia to expand in the Asia-Pacific region.
Nomura Holdings Inc, through Nomura Asset Management, will be purchasing ING Securities Investment & Trust Co, the Taiwanese investment unit of Dutch company ING Groep NV, Bloomberg reported.
Private equity firm CVC Capital Partners will invest over $200 million for a stake in Chinese education company EIC Group. CVC will buy the stake from rival investment firm Actis Capital.
International Entertainment Corp said it would be acquiring a 70% stake in Macau gambling junket operator Sun City Gaming Promotion Co for HK$7.35 billion, Bloomberg reported.
Shandong, China-based cotton and yarn manufacturer Shandong Ruyi Technology Group Co Ltd will invest $2 billion in the energy and textile sectors of Pakistan over the next two years.
Genting Malaysia Group, which is majority owned by Genting Bhd, has signed an agreement with American groups Gulfstream Park Racing Association, Florida Horsemen's Benevolent & Protective Association and Florida Thoroughbred Breeders' Association to build a gaming resort in Miami, Florida.
The insurance unit of Portugal's Caixa Geral de Depositos SA will be acquired by China's Fosun International Ltd in a deal worth €1 billion, Reuters reported.
Japanese trading house Marubeni Corp announced on Friday that it had bought a 100-megawatt (MW) gas power facility in Tokyo and is also planning to add further 200 MW of local capacity in 2016.
