Istithmar World, a subsidiary of state-owned conglomerate Dubai World, has sold its 50% stake in Fontainebleau Miami Beach to Florida-based developer Turnberry Ltd. for an undisclosed sum.
Deals
Treasury ownership by China to hit new record as Fed taper delays
China's holdings in US Treasury securities were seen increasing to a figure nearing $1.314 trillion it last hit in July 2011 as the world awaits for the decision of the US Federal Reserve to taper its $85 billion monthly purchases, said a Bloomberg report.
Bob Diamond makes a comeback as Atlas Mara raises $325 million in London IPO- report
Bob Diamond, the former CEO of Barclays, has made a dramatic comeback in the banking sector after the investment vehicle he formed with Ashish Thakkar called Atlas Mara raised $325 million for its London IPO, the Financial Times reported.
Statoil invests in Azerbaijan gas field, sells project stake
Norway-based oil company Statoil ASA (STO) said on Tuesday it has decided to invest in the Shah Deniz gas field development in Azerbaijan, together with its consortium partners.
MetLife Inc in exclusive talks to buy stake in life insurance units of AMMB Holdings- sources
Citing sources, Bloomberg reported that US-based life insurance firm MetLife Inc is talking exclusively with AMMB Holdings for the acquisition of its Malaysian life insurance businesses.
Latest News
Tokyo, Japan-based firms ITOCHU Corp and ITOCHU Textile Prominent Ltd have finalized a deal with Fenix Group Holdings Ltd to invest in ASF Limited, an intermediate holding firm under the sponsorship of Fenix.
Boeing Co has increased its quarterly dividend from $0.485 cents a share to $0.73 cents and have authorized a new $10 billion share repurchase in the next two to three years, Reuters reported.
Philippine conglomerate Ayala Corp has bought 140 million common shares of Mitsubishi Corp's equity in Manila Water Company Inc for PHP2.8 billion, according to an emailed statement.
Manulife Financial Corp bought a 21-story office building in New York's financial district from Mitsui Fudosan Co in a deal worth $166.5 million to capitalize on growing demand, Bloomberg reported.
The Metropolitan Transit Authority has selected Westfield Group to lease out stores at the Fulton Street Transit Center. This would make the Australian shopping center owner a dominant retail landlord in lower Manhattan.
Chicago-based tutoring services provider WyzAnt has received $21.5 million in a Series A funding round from Accel Partners to expand its services and develop new digital tools for student-tutor interaction.
As part of a $1.3-billion investment in five US plants, General Motors (GM) is pouring in $600 million in its oldest assembly plant in Flint, Michigan, to set up a state-of-the-art paint facility and other upgrades.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
Virginia-based business development company Gladstone Capital Corporation invested $5.5 million in debt and equity to acquire Minnesota-based steel container supplier Behrens Manufacturing LL, with the participation of co-investor Gladstone Investment Corporation.
