The Monetary Board of the Bangko Sentral ng Pilipinas has cleared the USD500 million loan from the Asian Development Bank. The said fund will be used to rehabilitate and reconstruct communities struck by super typhoon Haiyan.
Sectors
US major banks amass cash by rejecting US Treasuries in light of taper risk
Data gathered by the US Federal Reserve showed a decline of over USD80 billion in nanks' holdings in federal agency bonds and Treasuries, marking its first annual decline since 2007.
Hilton eyes USD2.4 billion in biggest hotel IPO
Hotel major Hilton Worldwide Holdings Inc. seeks to raise up to USD2.4 billion in its US listing. Hilton Worldwide will offer 112.8 million shares, giving it a market value of about USD19.2 billion.
Cevian buys 25 million A-shares in Volvo, raises stake to 10.5% of votes
Stockholm-based private equity firm Cevian Capital on Monday announced its acquisition of 25 million A-shares in truck manufacturer Volvo. The purchase brought Cevian's ownership to 68.7 million A-shares and 29.8 million B-shares.
Akamai to takeover cloud-based security provider Prolexic for USD370 million
US-based Akamai Technologies on Monday announced that it will acquire the world's largest and most trusted cyber security provider Prolexic Technologies for USD370 million. The deal is expected to close in spring of next year.
Latest News
Former Malaysian Prime Minister Mahathir Mohamad told reporters that he had stepped down from his post as an adviser to Petronas, the state-run oil firm.
Belfast-based scientific digital camera maker Andor Technology refused the GBP166 million buyout offer from English tool manufacturer Oxford Instruments. Oxford Instruments had been negotiating the takeover deal with Andor for months now.
Klepierre exited from its four Norway shopping centers in a deal worth EUR 247 million or USD 336 million. The real estate investment trust is the second largest publicly-traded shopping mall operator in Europe.
South Korea is exiting from the country's second-biggest non-performing loan manager Woori F&I Co. Ltd. At least three bidders including MBK Partners, KB Financial Group and Daishin Securities will place their final bids for the bad-loan unit.
Italian banks UniCredit, Intesa Sanpaolo SpA, Banca Monte dei Paschi di Siena SpA and BNP Paribas's BNL have agreed to sell a combined 59.3% stake in payment firm SIA.
Italy-based Telecom Italia told regulators that it did not get any offers for its unit in Brazil and that it intends to keep the unit. The company issued the statement in response to a request from an Italian regulator regarding Telecom Italia's plans for its Brazilian business.
Malaysia-based Etiqa, the insurance unit of Maybank, is said to be thinking of bidding for Indonesian insurer Mega Life Asuransi Jiwa, according to sources interviewed by Bloomberg.
Australian Prime Minister Tony Abbott said today the government may purchase a stake in Qantas Airways to help the troubled carrier compete with better-financed rivals.
South Africa-based coal mining firm Resource Generation (Resgen) is in a funding drive to raise USD178 million for a new coal mining project in Limpopo.
