Hospitals team with medical research facilities to protect themselves against higher costs (Photo : Reuters)Hospitals with improved medical care for elderly patients, and reduced deadly errors are estimated to get millions of dollars under an incentive program that aims to cut overall Medicare costs.

Arabtec is preparing to do a rights issue worth around US$650 million. Arabtec, the contractor based out of Dubai and partly owned by Aabar Investments of Abu Dhabi, is now preparing for a US$650 million rights issue scheduled on June 9.

Sinopec shares open on weak investor demand in the market. Sinopec Engineering, amidst all the hoopla, opened to a weak demand in its market debut Thurday.

Bank of Ayudhya Pcl saw its shares increased after a local newspaper reported that a financial market source said that Japan's Mitsubishi UFJ Financial Group (MUFG) proposed to buy General Electric's stake in the Thai bank for 40 baht per share.

Clearwire Corp. has agreed on the buyout offer from Sprint Nextel Corp. despite disappointed minority shareholders .

VL Automotive, a venture between Former General Motors Co. executive Bob Lutz, China's Wanxiang Group and industrialist Gilbert Villarreal, is bidding to acquire Fisker Automotive through a prepackaged bankruptcy deal.

SoftBank Corp. aims to name a security director to the board of Sprint Nextel once it becomes successful in its proposed takeover bid.

VTB, Russia's second largest bank, decides to sell its 10 percent stake in Soceite Generale's Russian unit Rosbank

FF&P returns funds and dividends to is investors, a rare occurrence in Russian corporate life. Garber Hannam & Partners together with Fleming Family & Partners disclosed the final distribution of dividends its the stockholders of FF&P Russia Real Estate Limited (RREL).

Wanderful Media receives new US$9 million capital infusion. In an announcement by Wanderful Media today, it disclosed that it was able to secure an additional US$9 million capital from its current investors.