United Arab Bank recently formalized a sponsorship agreement with FC Barcelona. FC Barcelona, the Spanish football giant, had further strengthened its partnership with the Gulf region as it announced last Sunday the forging of a three year deal with UAE financial institution United Arab Bank.
Investors
Jacobs Engineering buys Sinclair Knight Merz
US engineering firm Jacobs Engineering purchases Sinclair Knight Merz for USD1.2 billion. AUD1. 3 billion is the price tag Jacobs Engineering Group would pay to acquire Sinclair Knight Merz.
No plans for Amazon phone, yet
Amazon clarified a blog report that the ecommerce firm was preparing its own phone. According to Drew Herdener, spokesperson for Amazon. com, the Seattle based e commerce firm has no plans to introduce a phone in 2013.
Vingroup postponing share and bond sale
Vietnam's largest mall operator had recently decided to withdraw its IPO and bond listing in the SGX due to continued capital flight from emerging markets.
Nestle expected to divest L'Oreal shares
One scenario is the divestment of the L'Oreal shares but Nestle may pull a surprise at the last minute.
Latest News
In an announcement, Qatar Airways CEO formalized an exchange programme between Qatar Airways and British Airways.
Singapore is the listing index for Xyec Holdings instead of Japan. The first Japanese firm to debut exclusively in Singapore, Xyec Holdings Co, plans to expand its information technology expertise to Southeast Asia through local purchases and engagement of local talent.
The discussions of a possible merger between DAE and StandardAero has ended. StandardAero's owner, Dubai Aerospace Enterprise, said it had ended discussions with British aircraft servvices company BBA Aviation.
Zoopla engaged the services of Credit Suisse for its IPO. Zoopla, the British property website, had engaged the services of the investment bank Credit Suisse in order to explore growth opportunities.
China establishes free trade zone to help liberalize yuan trade. In an expected move, China had issued a directive to allow free exchange of the yuan currency within the borers of its first free trade zone.
KUFPEC is looking at overseas assets to expand its oil assets and reserves. Kuwait has sought to purchase oil related properties internationally, such as as in Southeast Asia in order to meet output targets.
In an expected move, Versace is set to sell minority shares. The Italian luxury goods house Versace was, eariier this year was in discussion with a sale to Qatar, contracted to privately sell a minority stake in 2013.
KazMunaiGaz purchases Kashagan oil field shares for Kazakhstan. Soon after the blocking the USD5 billion deal for ONGC Videsh Ltd, Kazakhstan soon transferred a 8.
Muthoot Finance announced the construction of new ATMs to expand its operations. One of the leading gold financing firms in India, Muthoot Finance, had drafted plans to construct 250 white label ATMs in the next three months.
