Volkswagen AG's Audi division said today in a statement that it is aiming to challenge major automobile players in terms of global sales by pouring in €22 billion or $30.3 billion in auto model and technology development through 2018.
Investors
PCH International acquires Australian distribution firm Conexus
Cork, Ireland-based consumer electronics distributor PCH International announced it has acquired Australian distribution company Conexus for an undisclosed amount to give its clients better access to the Australian and Asian markets.
Textron looking to borrow $1.1 B to finance its Beechcraft acquisition
Textron Inc Chairman and Chief Executive Officer Scott Donnelly disclosed to analysts and investors in a teleconference today that it will be financing its acquisition of Beech Holdings LLC via debt.
Sprint's shares rise due to rumored merger with T-Mobile
Sprint Corp's shares climbed as much as 15% earlier in trading day today as speculation that it will be merging with rival T-Mobile US Inc rises, said a Bloomberg report.
South Africa's Foord increases Adcock stake to 15%
Cape Town, South Africa-based investment firm Foord Asset Management has lifted its stake in Johannesburg-based drug maker Adcock Ingram to 15%, according to a regulatory filing on Friday.
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Russian oil producer Rosneft said on Friday that it does not have any plans to make strategic acquisitions after agreeing to acquire Morgan Stanley's oil trading unit last week.
Nakheel said in its statement on Thursday that it was able to close sales of land plots in the Al Furjan and Jumeirah Village Triangle areas worth a collective $44.1 million or over AED162 million.
SPIE, a French engineering group that makes facilities more energy-efficient, is reportedly mulling over an initial public offering in late 2014. SPIE's shareholders, private equity firms Ardian, Clayton Dubilier & Rice and Quebec's pension fund Cassie, will likely decide on the listing in the first quarter.
The Los Angeles Times reported that the legal costs of Bank of America could continue to rise, mostly due to its ill-fated acquisition of Countrywide Financial Corp in 2008.
Iskandar Waterfront Holdings has put up for sale 15 hectares of seafront land in Danga Bay. The parcels of land will be sold to Singaporean firm Hao Yuan Investment for MYR1.6 billion.
Li Ka-shing, the richest man in Asia, has just invested an undisclosed amount in BitPay, a US-based startup that provides services similar to a PayPal for bitcoins.
Axis Real Estate Investment Trust, through its trustee RHB Trustees Bhd, has entered into a sales and purchase agreement to divest its Axis Plaza. The five-storey building will be sold to Collective Developers Sdn Bhd for MYR34 million.
Intel Capital, US-based Intel Corp's corporate venturing division, announced that it is investing in Taiwan-based digital image solution provider SanJet Technology to support the development of next generation wearable and car applications.
A report on Arabian Business read that gold will be recording its lowest annual plunge since three decades ago due to combined pressure from the monetary stimulus easing of the US Federal Reserve.
