Panasonic Corp decided to close its Hungarian solar cell plant after the yen weakened and would transfer its equipment to other plants in Asia.
Asia/Pacific
HSBC closes retail banking and wealth management in South Korea
HSBC Holdings Ltd would exits its retail banking and wealth management business in Korea to focus more on the profitable enterprises.
CNOOC signs PSC with PetroBroad Copower
CNOOC announced that they have signed a PSC with PetroBroad Copower CNOOC Limited announced that the China National Offshore Oil Corporation (CNOOC), its parent company, has signed a PSC or a production sharing contract with PetroBroad Copower Limited (PetroBroad Copower) to do work for Block 28/03 in Pearl River Mouth Basin.
Azimuth Changes Board Prior to Troy Resources' Takeover
Azimuth changed its board members prior to Troy Resources' takeover. Azimuth Resources Limited, a company involved in the exploration of gold and uranium in Guyana, announced that there would changes its board members prior to Troy Resources Limited's takeover of the company.
Etihad Close To Making Deal With JAT
Etihad announced that they are near to closing deal with JAT Airways Etihad Airways announced that they are close to coming to an agreement over an equity investment with JAT Airways.
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General Motors wanted to compete with Japanese auto-makers who dominate Indonesia by launching its no-frills Spin van.
GDF Suez is highly considering taking an active role in a French bid GDF Suez is considering taking an active role in the French bid for the nuclear reactor project in Saudi Arabia.
1Malaysia Development Bhd acquired a local power plant for US$380 million. 1Malaysia Development Bhd (1MDB), a state-owned company, announced that it would pay an estimated US$380 million for the acquisition of a local coal power plant.
Diageo PLC announced that they have acquired stakes in United Spirits Ltd. Diageo PLC announced that they have acquired a 25. 02 % stake in Vijay Mallya-led United Spirits Ltd (USL).
Money influx hurt China money market rates. Money market rates fell after the Chinese government announced injection of funds into an interbank market system.
Unilever announced increased in stake holdings for Hindustan Unilever, the company’s Indian unit, for Eur2.45 billion.
China probes Tetra Pak for possible market dominance China probes Tetra Pak, the world renowned Switzerland-based food-packaging company for any possible abuse when it comes to market dominance.
South Korea's SK Energy returns to the naphtha market and makes 35,000 tonnes purchase (Photo : Reuters)SK Energy of South Korea buys 35 tonnes of cargo from Oil and Natural Gas Corp SK Energy, South Korea's top refiner bought 35,000 tonnes from Oil & Natural Gas Corp.
After China's interest in the Pak-Iran pipeline project, the ties between the two countries are said the have been strengthened.
