Facebook Inc had been tapping resources of its Russian partners to develop apps, signaling a growth in the tech industry, particularly in the app development business.
Sectors
Hedge funds pale in comparison to US stocks performance in 2013 - report
Recent data revealed that performance of hedge funds in the US this year was poor in comparison to the US stocks index despite massive fees demanded by money managers from its clients.
JSE halts trade for five minutes to honor Mandela, banks to close on day of his funeral
The respect for the late politician and ex-president of South Africa Nelson Mandela was evident in the business sector, as trading and banks postponed their businesses to acknowledge Mandela's passing.
South African markets unnerved by the passing of Mandela
The Johannesburg Stock Exchange Index and other financial markets in South Africa saw little change regarding the passing of former president and political champion Nelson Mandela.
Mandela key to local businesses in South Africa - report
Industry observers believed that the late Nelson Mandela contributed greatly to not only the political environment in South Africa, but the local business sector as well.
Latest News
Lloyds Banking Group is to divest its Irish home loans to an affiliated company of private equity firm Apollo Global Management in a deal worth GBP 257 million.
At a time when interest rates are low, investors are now seeking to invest in European infrastructure to get higher returns. However, the assets are scarce, according to a Reuters report.
Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.
Royal Philips and Funai Electric Co could find themselves in court over the failed deal involving the acquisition of the Lifestyle Entertainment business of the Amsterdam-based firm.
Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
Poland-based lender Alior Bank SA sold 6.38 million of its shares yesterday at PLN73 apiece to raise PLN 464 million (USD151 million) for its expansion.
Domino's Pizza chief executive Lance Batchelor decided to quit from Britain's biggest pizza delivery company as its shares dive by 8.7% on Friday morning. Batchelor will be joining a private equity-backed company in a non-competing sector.
Kumar Rangaranjan, one of the founders of Indian startup Little Eye Labs, told the Wall Street Journal that it was in preliminary discussions with social media giant Facebook regarding a potential deal.
The widow of Hong Kong property developer Sun Hung Kai founder Kwok Tak-seng, Siu-hing, said in a statement yesterday that she handed out a 6.36% ownership stake in each of her sons' family trusts.
