Facebook Inc had been tapping resources of its Russian partners to develop apps, signaling a growth in the tech industry, particularly in the app development business.
Investors
Corpbanca's search for buyer spurs bond rally
The rally of Corpbanca's high-grade bonds in the merging markets indicated investors' demand for the Chilean bank to find a buyer soon. Corpbanca is run by Chilean billionaire Alvaro Saieh.
GBP875,000 loan causes Strategic Natural Resources shares jump over 75%
The GBP875,000 loan extended by property and technology entrepreneur Andrew Ruhan to his brother Gabriel, who runs Strategic Natural Resources, was intended to pay off creditors.
Hedge funds pale in comparison to US stocks performance in 2013 - report
Recent data revealed that performance of hedge funds in the US this year was poor in comparison to the US stocks index despite massive fees demanded by money managers from its clients.
JSE halts trade for five minutes to honor Mandela, banks to close on day of his funeral
The respect for the late politician and ex-president of South Africa Nelson Mandela was evident in the business sector, as trading and banks postponed their businesses to acknowledge Mandela's passing.
Latest News
Lloyds Banking Group is to divest its Irish home loans to an affiliated company of private equity firm Apollo Global Management in a deal worth GBP 257 million.
At a time when interest rates are low, investors are now seeking to invest in European infrastructure to get higher returns. However, the assets are scarce, according to a Reuters report.
Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.
Royal Philips and Funai Electric Co could find themselves in court over the failed deal involving the acquisition of the Lifestyle Entertainment business of the Amsterdam-based firm.
Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
Poland-based lender Alior Bank SA sold 6.38 million of its shares yesterday at PLN73 apiece to raise PLN 464 million (USD151 million) for its expansion.
Kumar Rangaranjan, one of the founders of Indian startup Little Eye Labs, told the Wall Street Journal that it was in preliminary discussions with social media giant Facebook regarding a potential deal.
The widow of Hong Kong property developer Sun Hung Kai founder Kwok Tak-seng, Siu-hing, said in a statement yesterday that she handed out a 6.36% ownership stake in each of her sons' family trusts.
Queensland-based coal mining company Carabella Resources Ltd received a hostile bid from private Chinese firm Wealth Mining, which already owns an 11.06% stake in the Australian mining firm.
