Freeport Indonesia has said that it will be offering the public a 5% stake in the mining company. The Indonesian subsidiary of Freeport McMoRan Copper & Gold Inc.
Asia/Pacific
ITC Ltd to invest US $4.4 billion for hotel expansion
The Kolkata-based company is set to invest US $4.4 billion for a business venture on hotels. ITC Ltd is planning to invest US $4. 4 billion (INR 260 billion) to expand its business interests into the hotel industry.
Jet Airways shares surges upon likely approval of Etihad deal
Shares for Jet Airways increased dramatically after speculation of FIPB approval of Jet-Etihad deal surfaced.
China Investment Corp posts better yield on returns
China Investment Corp, which has US $49 billion investment from the government, posed a 10.6% return of investment from its overseas ventures.
Wipro predicts rise in IT services demand for third quarter
Indian IT services provider Wipro predicts profit increase for the next quarter. Indian IT company Wipro announced its prediction for an upsurge of demand for its consulting and outsourcing services, following the 11% increase in quarterly profit due largely to a series of high-earning contracts.
Latest News
Luminous Water Technologies Pvt. acquires US$9.3 million worth of funding from CLSA Capital Partners.
Qinhuangdao Port Co. said that they are planning to raise US$800 million through an initial public offering.
China's sovereign wealth fund, CIC, is reported to be in talks with Alibaba Group. The People's Daily, China's official newspaper, reported that China Investment Corp.
Development Bank of Kazakhstan announced plans to raise US$1 billion by selling off bad loans. The Development Bank of Kazakhstan JSC announced that they plan to sell KZT151 billion or US$1 billion worth of bad loans to the Investment Fund of Kazakhstan.
Samsung increased it investment by US$1 billion with the hope that it would compensate for the slumping smartphone growth.
Meiji Yasuda Life Insurance announced that it has agreed with Thai Life to buy a 15% stake in the insurer, beating private equity firms KKR & Co, CVC Capital Partners, and Carlyle Group LP to the deal.
The camera-producer titans find it hard to sell its product due to the increasing demand for smartphones.
Canon dimmed its profits and sales outlook as smartphone titans present gadgets that could capture high-quality photos.
Aflac Incorporated announced that Aflac Japan and Japan Post Holdings entered into a new partnership agreement.
