Saudi Telecom, whose goal is to repay a USD1.2 billion debt, is planning to sell off its subsidiary to raise the funds.
Corporations
Integrated Electrical Services completes MISCOR Group purchase
Integrated Electrical Services Inc. announced today the completion of acquisition of MISCOR Group Ltd. paid through a combination of cash and stock.
Ford names new chief for US sales
Ford Motor Co. announced naming a new US sales chief after the retirement of its current executive effective November 1.
Sanofi could repurchase L'Oreal's stake
Analysts said Sanofi could buy back its L'Oreal shares with cheap debt to boost earnings. Sanofi Aventis' Chief Executive Officer said on Friday that repurchasing L'Oreal's 9% stake in the drugmaker might make sense.
Twitter will avoid Facebook pitfalls - report
According to a Bloomberg report, Twitter Inc. was trying to avoid moves that got Facebook Inc. lost half of its value after it went public last 2012.
Latest News
According to Bechtel EAME President David Welch, the growing business in the Gulf region required the opening of a new office.
General Growth Properties spent USD 567 million to repurchase shares, mostly from Pershing Square Capital Management.
According to a report by Forbes news magazine, the sale of Madison Square Garden Company (MSG)'s Fuse cable TV music channel was a more tactical rather than strategic move to exit from a floundering business unit.
According to a Forbes news magazine report by contributor Peter Cohan, Western Digital's subsidiary HGST bought Virident, a flash storage supplier, for USD685 million in cash.
Edison Ventures announced that it has exited from Communications Lifecycle Management software firm Tango by selling the last of its shares.
A Reuters report said the growing number of equity issuance this year was a sign of positive growth.
Antitrust regulators in the European Union would review M&A deals to gauge their effects on local markets.
Virgin Mobile Middle East and Africa had introduced new telecom services in Malaysia. Virtual telecommunication services in Malaysia was recently launched by Virgin Mobile Middle East & Africa in partnership with the Southeast Asian countries fourth largest telecoms operator U Mobile.
Renowned Middle Eastern scientist Hayat Sindi called for more investments in the field of science and technology to foster inventive spirit and innovation.
