Myanmar government figures and US companies met to discuss future investment endeavors. In a meeting between representatives of American companies and Myanmar government officials, the lack of investments from the United States was highlighted and discussed.
Asia/Pacific
Infosys Q1 results as expected, stocks rise almost 15%
Infosys Q1 results were as expected and stocks rose by around 15%. Infosys first quarter report was aligned with market expectations. Shares of the IT firm also rose almost 15% early morning in Friday.
Orix Corp. to expand equity holdings to Southeast Asia, Middle East
Orix Corp. stated it would invest half a billion dollars in fast growing markets. Japan's most active financial firm in acquisition, Orix Corp. , revealed plans to spend JPY50 billion (US$506 million) on buyouts around Southeast Asia and the Middle East within the next 12 months tapping on faster-growing markets.
Zurich sells shares in New Life China
Zurich Financial Services sold its shares in New Life China Insurance Co Ltd for US283 billion Zurich Financial Services AG announced that they have sold US$283 million worth of shares in New China Life Insurance Co Ltd.
Samin Tan agrees to US$223 million deal for Bumi Plc
Samin Tan agreed to buy Bumi Plc shares for US$223 million Coal tycoon Samin Tan has agreed to a US $223 million deal that would elevate his stakes in Bumi Plc to over 47%.
Latest News
Russia announced that it would lift its oil exports in Asia and consequently decrease the distribution for Europe.
Philippines' largest company gets offers to purchase its shares in bank and power company. San Miguel Corporation (SMC) confirmed that it obtained offers to buy its shares in its electricity and banking businesses.
Balfour Beatty Plc created a venture with Sydney Water for Au$150 million water projects in Australia.
Harbor Star cancelled its Php593 million IPO to September. Harbor Star Shipping Services Inc. put off its Php593-million initial public offering (IPO) to September.
Tokai Trim Holdings Co. received investments from Japanese investment firms J-Star Co. and Supply Chain Support Co.
The state-owned bank, which has been in talks to sell BNI life shares since last year, is reviving its plan to push through with the transaction.
Michael Hession was appointed as new CEO of InterOil, effective July 1, 2013. InterOil Corporation announced today that Dr. Michael Hession will be its new Chief Executive Officer.
Tata Capital Innovations Fund invested in Vaultize. Tata Capital Innovations Fund invested in Vaultize. The funds will be used for Vaultize's go-to-market strategy.
Condor Petroleum Inc. would sell its nterest in Kazakhstan's Marsel territory worth US$88 million.
