Cheraman Financial Services announced today a proposed plan of funding different infrastructure projects in Kerala.

In accordance with the new free trade zones, China planned to simply its legislation to attract foreign strategic and financial investors.

ShopRunner added to Alibaba's recent purchases made to help in the former's IPO. Recently, ShopRunner a private shipping company owned by Michael Rubin, sold minority stakes to Chinese e-commerce company Alibaba Group.

US anti-trust regulators filed a lawsuit against US Airways and American Airlines' USD11 billion merger saying that the deal would only result to higher air fares, service reduction and a strangled competition in the industry.

BBlackstone entered into talks with Goldman Sachs to purchase a minor stake in pensions and insurance company Rothesay Life.

Last Wednesday, North and South Korea said through a joint statement that it would reopen the Kaesong industrial zone to attract foreign investors.

China announced its plans of easing laws for foreign investors in its free trade zones. China has planned to ease laws on foreign investment in the country's new free trade zones.

China would be giving perks for foreign and private investors interested in providing elderly care services and facilities in the country.

Pertrobras sold oil assets to raise USD2 billion to finance five-year plan. Petróleo Brasileiro SA (Petrobras) has sold oil stakes on different petrochemical and oil explorations projects.

Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.

An explosion rocked the commodities port of Umm Qasr in Iraq. Two workers said the port of Umm Qasr was hit by a blast. A major commodities port located near Basra, Umm Qasr is also one of the largest in Iraq.

Experts said Al Jazeera America needs to define its mission to be able to succeed with its American audience.

Obama reopened issue on Fannie Mae and Freddie Mac to spur delayed housing policies reforms. US President Barack Obama recently revisited the issue on the need for major reforms on the housing market policies.

North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.

Technology infrastructure maker Cisco announced modest revenue growth for this quarter even as it cut its workforce to reduce costs.

US Airways and American Airlines promised to fight the antitrust lawsuit filed by the US Department of Justice, of which halted the airline companies' USD 11 billion merger.

The Center for European Economic Research reported increased levels of investor sentiment in August.

The US government acknowledged the existence of the aviation test site Area 51 after decades of utmost secrecy about the place.

A Gotland District Court Judge ruled to convict an 18 year old male for sending a friend request in social networking site Facebook.

Greece's economy still critical despite slight improvement. Greece's economic recession was marginally reduced in the second quarter of this year when the economy shrank at only 4.

The Public Company Accounting Oversight Board gave a new proposal allowing auditors to give their commentary on "critical audit matters" in their audit reports.

The Procter & Gamble Company voluntarily recalled some lots of its Eukanuba and Iams dog and cat foods for possible Salmonella contamination.

A Florida federal judge dismissed the lawsuit against the US Securities and Exchange Commission for its alleged failure to report Allen Stanford's Ponzi scheme to Securities Investor Protection Corp.

Retail sales in the US rose in July, signifying better times for the US economy. The Commerce Department revealed that US retail sales rose to 0. 2% in July.

BlackBerry CEO Thorsten Heins would make USD55.6 million if he sells the corporation and is ousted from his position.

Greece's economic growth rates continues to slow down despite bailouts. In its sixth uninterrupted year of recession,Greece is still far from recuperating from an economic slump .

Alibaba bought stake in online shopping firm ShopRunner for USD75 million as it prepares for its initial public offering in Hong Kong.

MediaQuest Holdings Inc bought more shares in BusinessWorld, making the PLDT Group subsidiary the majority stakeholder in the Philippine's first business newspaper.

Samsung Electronics Co. would introduce a wristwatch-like gadget called Galaxy Gear on September 4, 2013.

A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.