HgCapital buys E-conomic, an online accounting company for SMEs. Hg Capital revealed on Monday its purchase of e-conomic, a large-scale European leading SaaS (Software as a Service) accounting unit for small and medium enterprises (SMEs).

Increased volume of agricultural production propped up Russia's slow growing economy. Russia's economy exhibited indications of development in July, based on new figures released by the state statistics service.

Zayo Group announced acquisition of Access Communications for USD40 million to further expand its reach in the Minneapolis-St. Paul market.

Falcon Social raised EUR 6 million in Series A funds for its social management platform. Falcon Social, a Copenhagen-based social management platform, raised EUR 6 million or USD 8 million in its Series A funding round.

Former Lloyds Banking Group Plc executive Andrew Geczy was appointed as new Head to the International and Institutional Banking division.

Retailer Tesco would try to compete in the digital downloads market through the release of its own iPad-like tablet computer.

Remeditex Ventures and Velocity Pharmaceutical Development(VPD)announced the signing of a collaboration agreement.

Private-equity leader CVC Capital Partners Ltd. buys Skrill, a British online payment company by Investicorp.

Technology stocks experienced a fair gain with the help of Intel, Facebook and Apple. The technology market experienced a fair increase in the stock market, thanks largely to current top share gain leaders Intel Corp.

Web analytics experts said Google outage for a few minutes resulted to a 40% slump in the global internet traffic and a loss of USD500,000.