Three countries pledged support for Egypt's dying economy. Three countries still believe in the conflicted country of Egypt. These nations - the Kingdom of Saudi Arabia, Kuwait, and the United Arab Emirates, expressed their support towards the Egypt saying that the North African country is "too big to fail.
Investors
Investment solutions giant Deutsche Asset announces new team leader for Americas
Caroline Kitidis, who used to work for Goldman Sachs, joins Deutsche Asset & Wealth Management. Deutsche Asset & Wealth Management today welcomed into the team Caroline Kitidis, formerly head of Americas Structured Solutions Group of Private Wealth Management.
Forest Oil sells Texas fields that may raise US$1 Billion
Forest Oil Corp would sell its oil and natural gas fields in Texas Panhandle worth US$1 billion. Forest Oil Corp intended to sell its oil and natural gas fields that could be found in Texas Panhandle.
Lowth to Replace Jones as CFO of BG Group
Lowth, current CFO AstraZeneca, will leave this October to become the CFO and Executive Director of BG Group
Avis Budget buys Payless Car Rental for US$50 million in cash
Avis Budget Group Inc. bought Payless Car Rental for US$50 million in cash to increase its yearly generated income.
Latest News
Abbott Laboratories would purchase Idev Technologies and OptiMedica Corp. for around US$560 million as it expands its device offerings.
The Royalty Exchange was able to secure series A capital funding from Grotech Ventures worth US$2.1 million.
Tencent and other Internet company in China led the highest close of the telecommunication industry in Hang Seng index since 2004
The South African investment company bought 75% of Egoli Gas through a deal completed in April. South African investment company Reatile Group completed in April a deal to purchase 75% of Egoli Gas Ltd.
Nautic Partners LLC said that it partnered with the management of Applied Consultants Inc to purchase Applied Consultants, Inc.
Cannabis Technologies announced its new joint venture partnership with Vertigo Technologies LLC. Cannabis Technologies announced its new joint venture partnership with Vertigo Technologies LLC.
Focus Financial Partners stated that Centerbridge Partners agreed to invest US$216 million in a deal that was expected to close in third quarter.
Loblaw Cos Ltd. would buy Shoppers Drug Mart Corp for US$11.9 billion so that it could create a retail giant.
The Reserve Bank of India imposed US$8.3 million in fines for 22 lenders that flouted rules and regulations on anti-money laundering.
