Kanakia Group, a conglomerate based in Mumbai, said that it intends to invest over INR500 crore for developing residential and hotel properties in the country. Kanakia currently has a real estate portfolio of more than 13 million square feet across residential, commercial and hotel properties.
Sectors
Apple asks court to ban sales of Samsung Electronics smartphones, tablets in the US
Apple Inc has asked a US District Court in California to ban the sales in the US of more than 20 smartphones and tablets of its rival Samsung Electronics, Bloomberg reported.
Report says Indian M&A transactions continue to drop this year
Mergers and acquisitions or M&A deals continue to decline in India this year as slow business growth, an uncertain economic climate and the instability of the foreign exchange rate led investors to be more cautious, the Business Standard said in a report.
Indonesian telecom firm Indosat to exit minority stake in Tower Bersama
Indonesia-based mobile network operator PT Indosat aims to offload its minority stake in telecommunications tower firm PT Tower Bersama Infrastructure (TBIG) early next year, according to the company's finance director.
Chinese firm eyes purchase of Australia's United Dairy
China's Bright Food Group Ltd unit Manassen Foods could be the frontrunner in an acquisition contest for United Dairy Power, the biggest privately-owned milk supplier in Australia, according to a news report by the Business Spectator.
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Swedish laboratory Nordic Society for Intervention and Discovery (NSID) has raised funding via Indiegogo to develop No More Woof, a headset prototype that translates dogs' thoughts into English.
Arabian Business said in its report that a rise in bond issuance in the Gulf region is seen next year partly in anticipation of the re-entry of the Abu Dhabi sovereign in the market after an over 5-year hiatus.
Commodity analysts believed that the successive probings into mining deals in India could become a factor in the potential disinterest of investors pouring in funds into the country.
US-based Fortress Investment Group intends to raise $1.9 billion to form the first infrastructure fund in Japan called Fortress Japan Income Fund, sources told Reuters.
North Dakota-based multimedia information company Forum Communications Co has agreed to purchase Minnesota-based media firm Brainerd Dispatch and other newspaper assets in the north-central Minnesota area.
Oil giant Royal Dutch Shell on Thursday announced that it has renewed an option to buy land in Monaca,Pennsylvania owned by metal-processing company Horsehead Holding Corp. Shell has a $2 billion ethylene plant building proposal for the said site.
Shenzhen, China-based taxi app Didi Dache is reportedly raising $100 million in a Series C funding round from investors Citic and Tencent for the integration of a payment platform into the app.
Yildiz Holding, the Turkish owner of Godiva chocolates, will acquire Flipz and Turtles maker DeMet's Candy Co. for $221 million. DeMet's is owned by Connecticut private equity firm Brynwood Partners.
Marijuana-focused magazine High Times said it is working towards creating the High Times Growth Fund that will allow investors to invest in legitimate marijuana startups, CNBC reported.
