MOL to Overhaul Management to Mirror International Operation
Hungary's largest company by revenues, refiner MOL Nyrt. (MOL.BU), is set to overhaul its management by early October, adjusting to the firm's growing international presence, Hungarian daily Nepszabadsag reports Tuesday citing unnamed sources. The company is to set up a 500-strong international
China Paying Close Attention to Risks From Property Loans - Reports
The Chinese authorities are weighing the possibility of implementing further property tightening measures as they pay close attention to the risks that property loans could pose to the banking system, the Shanghai Securities News reported Tuesday, citing unnamed people familiar with the matter.
EU OKs Cisco Systems to Buy Pay-TV Technology Company NDS
The European Union's antitrust regulator approved Cisco Systems Inc.'s (CSCO) proposed acquisition of U.K.-based NDS Group Ltd., a provider of software and technology for the pay-TV sector.
UBS Lowers its Euro Exchange Rate Forecasts
Swiss bank UBS AG (UBS) has cut its short-term euro forecasts against the dollar, yen and other major European currencies, citing the possibility of more interest rate cuts from the European Central Bank and ongoing stress in Europe as Spanish bond yields continue to rise.
Government Source: TNK-BP Buy Would Be Boost For Rosneft Privatization
by Lukas I. Alpert MOSCOW--A successful buy-out of BP PLC's (BP.LN) stake in the troubled TNK-BP (TNBP.RS) venture by state oil company OAO Rosneft (ROSN.RS) would greatly improve its prospects for privatization, a high-ranking government official said Tuesday. "This would make Rosneft a better
Australia's Abbott Says Chinese Investment Complicated
Australia's center-right opposition leader Tony Abbott on Tuesday described investment from China as "complicated" and said he opposes foreign governments taking a controlling stake in an Australian business.
ADB Plans to Join Equity Fund for Philippine Infrastructure Projects
The Asian Development Bank said Tuesday it will invest in a private equity fund that is being put together to finance infrastructure projects in the Philippines.
ING Appeals European Commission Decision on Restructuring
ING Groep NV (INGA.AE) said Tuesday it will appeal the terms of a European Commission approved restructuring plan that was implemented as a condition for the Dutch financial services firm receiving state aid during the financial crisis in 2008.
Rosneft Says Potential TNK-BP Buy "Attractive Commercial Proposition"
Russian state oil giant OAO Rosneft (ROSN.RS) said Tuesday it sees the potential acquisition of BP PLC's (BP.LN) 50% stake in TNK-BP (TNBP.RS) as an "attractive commercial proposition." "The potential acquisition would complement its existing portfolio and create value for all stakeholders," a
Banpu: 2012 Operating Profit Likely Lower Than 2011
Banpu PCL (BANPU.TH), Thailand's largest coal miner by revenue, said Tuesday its 2012 operating profit is likely to be lower than last year due mainly to higher costs.