The first Gulf region company that would come out of bankruptcy places many Western courts at a quandary on Islamic finance.
Investors
Bison Capital announces closure of its fourth fund
An oversubscribed fourth fund from Bison Capital Asset Management was recently announced to be closed.
Barclays set to exit UAE , opening assets for local banks such as FGB
The First Gulf Bank said it is not interested to bid for Barclays business in the UAE. The First Gulf Bank, a lender based out of the United Arab Emirates, said it has no plans to bid for the retail banking operations of Barclay in the country.
Emirates NBD finalizes agreement to sponsor Manchester United
Emirates NBD agreed to a five year sponsorship deal with Manchester United Football Club. The largest bank in the United Arab Emirates, the Emirates NBD, recently announced a five year partnership agreement with Manchester United Football Club.
Macau Legend wants to raise USD 300 million by selling shares
Macau Legend announced plans to raise USD 300 million through a share sale to redevelop the Fisherman's Wharf complex.
Latest News
Tencent Holdings, with its recent share value rise, pushed the overall value to above USD100 billion.
Investor sentiment improved in Switzerland for September, a new survey revealed. Investor confidence in Switzerland increased in September. Germany-based ZEW Center for European Economic Research and Credit Suisse Group based in Zurich revealed investor and analyst expectations rose to 16.
Hungary applied for permission to sell bonds in the US market. The European Union's most heavily indebted member nation had filed with the US regulatory authorities for the issuance of USD5 billion worth of bonds.
Dan Gertler of Oil of DR Congo wanted partners to develop oil in Lake Albert in Congo. Oil magnate Dan Gertler, owner of Oil of DR Congo, would like partners to develop a potential oil find in the Democratic Republic of Congo.
A Reuters report expected the US Federal Reserve tapering to be cautious. According to a Reuters report, expectations were rife that the US Federal Reserve would be cautious about the tapering of its stimulus package.
The Brazilian unit of Julius Baer Group would be opening offices outside the main centers of Sao Paulo and Rio de Janeiro.
Pre-installation of Alibaba apps on China Telecom mobile phones part of strategic agreement- sources
Sources told Reuters that Alibaba's apps could be pre-installed on the mobile phones of China Telecom as part of the strategic agreement of both companies.
Sources told Reuters that shareholders of Smithfield Foods Inc was close to approving the Chinese company's USD 4.7 billion offer.
Sharp Corp announced that it would raise up to USD 1.68 billion through a public offer and third party placements.
