Hong Kong-based luxury hotel group Shangri-La International Hotel Management has announced that it will invest $115 million for the construction of a new 350-room hotel in Yangon, Myanmar.
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Beijing's Wumart abandons CP Lotus acquisition
Beijing-based supermarket chain Wumart Stores Inc has cancelled its plans to purchase stores and equity shares from its rival C.P. Lotus Corp, but the reasons for the fallout were not elaborated in a report.
Report says more workplaces offering loans to employees
The Wall Street Journal reported more employers are offering loans to their workers from non-bank lenders. There are currently 100,000 employees who can avail of employer-based loan programs, but that number is set to increase in the coming years, said the Journal.
Aurizon Holdings plans to complete joint venture with GVK in mid-2014- report
Aurizon Holdings Ltd intends to complete a joint venture agreement with GVK Group for the building of a railroad project by the middle of next year, Bloomberg reported.
Pharmaceutical firms introduce new drugs but encounter selling difficulties- report
After lackluster activity in the past years, pharmaceutical firms have gotten back to producing new drugs but they encounter challenges in selling them, according to a report on The Wall Street Journal.
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A consortium led by private equity firm EQT Partners has acquired a controlling stake in China F&B Group for an undisclosed sum. China F&B operates the Dairy Queen and Papa John's Pizza restaurant chains in China.
Power Assets Holdings Ltd. will spin off its subsidiary Hongkong Electric Company Ltd. to HK Electric Investments, a single-investment trust. Power Assets was said to be aiming for a HK Electric Investments listing early next year to raise $5.7 billion.
The Japan International Cooperation Agency (JICA) will pour in $2 million in three projects aimed at reviving the degraded Anzali lagoon in Iran, according to an environment official cited by IRNA new agency.
India-based power firm NSL Renewable Power Private Limited (NSL Power) is said to have plans to pour in $45 million to build new wind farms in Maharashtra through a special purpose vehicle called Jath Wind Energy Private Limited.
Christie's International Plc is said to be conducting its first auction of artworks in Indian soil, and will highlight modern master Tyeb Mehta's (1925-2009) work entitled "Mahishasura."
Gottex Fund Management Holdings on Monday announced that it is purchasing Swiss hedge fund EIM Group for $35.4 million in stocks. EIM shareholders will own 30% of the merged group, while Gottex owners will own the remaining 70% stake in the company.
French retailer Carrefour agreed to acquire a total of 27 shopping malls in Europe worth €2 billion or $2.75 billion from Klepierre, a Bloomberg report said.
Sources told the Wall Street Journal that BlackBerry's executive vice president of global sales and official in charge of its mergers and acquisitions strategy will be departing the struggling smartphone maker in weeks.
California, US-based software developing company Accelrys has acquired Ireland-based software business Qumas in a deal valued at $50 million to expand its products expansion and client base.
