Namibia Power Corp (NamPower) plans to raise NAD5 billion (USD496 million) to fund the expansion of its transmission networks and power generation over the next five years, according to the firm's managing director.
Sectors
Canadian mining firms Goldsource and Eagle Mountain Gold to merge
Rival Canadian mining companies Goldsource Mines Inc and Eagle Mountain Gold Corp agreed to merge in a deal that would see each firm hold half of the newly combined company.
Ireland is Europe's haven for tech startups -survey
According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.
Synergy report says Amazon still leads in cloud computing
A report from Synergy Research Group said Amazon has trumped other cloud players like Microsoft, IBM and Google when it comes to generating money from cloud computing.
Taiwan's TCC International receives USD721 million buyout bid from parent company
TCC International Holdings Ltd said it received a buyout offer amounting to HKD5.59 billion (USD721 million) from its parent company, Taiwan Cement Corp, which owns 56.5% of TCC.
Latest News
According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.
In a speech delivered at Tel Aviv, Harvard Professor Yochai Benkler said cooperation and not self-interest can generate new ideas and transform businesses in today's knowledge economy.
The Federal Deposit Insurance Corp reported that the increased litigation cost at one unnamed institution was the primary reason why FDIC-insured banks and savings institutions posted decreased profits in the third quarter this year.
Troubled electronics giant Panasonic will sell three of its chip factories in Japan to Israel's TowerJazz by March 2014, according to sources with direct knowledge of the situation.
The government of South Korea has increased the offering size for a part of its stake in Industrial Bank of Korea (IBK) to USD250 million. Its finance ministry will be selling 23.24 million shares instead of the initial 13.16 million shares.
A study done by CB Insights revealed that only 14% of venture capital firms supported unicorns since 2004. Unicorns refer to young startup firms that have made USD 1 billion exits.
Oregon-based medical billing advocate CoPatient raised over USD1 million in funding for its expansion and product development, and also moved into new offices located in Southeast Portland.
Teck Resources, Newmont Mining, Magris Resources and private equity firm Blackstone Group are reportedly bidding for Glencore Xtrata's Las Bambas copper mine in Peru. Las Bambas' estimated end-2014 valuation is at USD6.9 billion.
Malaysian packaging solutions firm Kian Joo Can Factory Bhd got a MYR1.46 billion cash takeover bid from privately owned company Aspire Insight Sdn Bhd at MYR3.30 per share.
