As the company faces an investigation on corruption under the previous leadership, the new management of PetroChina is seeking to distance itself from the legacy of its former chairman.
Legal & Regulatory
Indonesia plans to ease up on divestment rules on foreign miners
Indonesia said it planned to relax the rule that forced foreign mining firms operating in the country to own no more than 49% of their stake in the mines within ten years after production has started.
Cathay opposes Qantas' HK budget carrier venture
Cathay Pacific Airways Ltd. released an exchange statement today, voicing out its opposition against Qantas Airways Ltd. (QAN)'s Hong Kong budget carrier venture with China Eastern Airlines Corp. and gambling tycoom Stanley Ho.
S&P argues Fed lawsuit "retaliation" for credit rating downgrade
Credit rating agency Standard and Poor's (S&P) said in a court filing that the reason US Justice Department filed a case against them was to get back for downgrading US' credit rating last August 2011.
Turkey plans establishment of industrial zone in Addis Ababa
Turkey said it intended to create an industrial zone in Addis Ababa on land assigned to Turkey by the Ethiopian government.
Latest News
Australian tycoon James Packer bought a 9.4% stake in US real estate website Zillow Inc. James Packer acquired a 9. 4% stake in Zillow Inc. Cavalane Holdings, of which Packer holds a controlling stake, purchased 3 million shares in the US real estate website.
South Korea would be offering a sale of ten-year bonds despite concerns of the US Federal Reserve reducing its asset purchases.
Japanese camera and endoscope maker Olympus Corp. would be prosecuted by UK's Serious Fraud Office for providing "misleading, false or deceptive" information in its Gyrus Group's financial accounts dating fiscal years 2009 and 2010.
The Financial Conduct Authority (FCA) fined Aberdeen Asset Management GBP7.2 million for not Financial Conduct Authority (FCA) said that it would impose a GBP7.
A grant-loan from the Belgian government would expand the water and sanitation services in Iten, Kenya.
Sole bidder Chevron won the Lithuanian tender for shale gas exploration, the government said in a Twitter announcement.
France would start tenders for its hydroelectric power concessions by next year. France said it intended to start tenders for hydropower concessions in the first half of 2014.
Wison Engineering Services Co. Ltd, is cooperating with Chinese authorities investigating the corruption allegedly committed by the current state assets regulator during his tenure as PetroChina head.
OTP Bank had prepared to purchase the shares owned by the Hungarian Post Office and the Hungarian development bank.
