Bourses saw Southeast Asian stocks dropping significant figures in trading Thursday. Resuming trading after a three-day off, Philippine stocks performed worst in two months.

New World Resources said it would be selling its OKK coking plant to offset oil price declines, of which had caused losses for the company.

State-owned PetroChina Company Ltd said it was discussing with relevant parties about developing the West Qurna oilfield in Iraq.

Private equity firm Doughty Hanson sold Spanish bus operator Avanza Group to Grupo ADO. Private equity company Doughty Hanson & Co announced the sale of Avanza Group to Grupo ADO, a Mexican bus operator.

The German private sector showed robust growth in August, according to Markit's PMI survey. The private sector in Germany showed signs of growth. A new survey conducted by financial information services company Markit revealed that the Purchasing Managers' Index (PMI) of Germany's private sector increased to 53.

Edcon Holdings, a clothing retailer owned by Bain Capital Partners, suffered sales losses because of its remodeling operations.

Credit Suisse said Rio Tinto and Anglo American could become BHP Billiton's potential partners for its potash mining project in Canada.

Oman Development Bank said it would consider opening an Islamic window to provide financial services to small and medium-sized companies.

Malaysian Minister Paul Low said that the government would soon utilize phone tapping and employ internet monitoring devices to eradicate corporate and government corruption.

Digital analytics corporation ComScore said Yahoo beat Google for the month of July with 196,564,000 visits.