2014.3
Sacombank to merge with Southern Bank
Sacombank, Vietnam’s ninth-biggest bank by assets, will merge with smaller local lender Southern Bank, following shareholders’ approval, Sacombank said in a statement on Tuesday.
China Huiyuan to issue $150 mln bonds to Temasek
China Huiyuan Juice Group Ltd will issue $150 million worth of convertible bonds to a unit of Singapore state investor Temasek Holdings (Pvt) Ltd, as China’s top pure fruit juice producer aims to expand its investor base.
Newmont ‘cuts output at Indonesia mine by 70 pct’
Newmont Mining Corp has cut production at its Indonesian copper and gold mine by 70 percent, a mining ministry official said on Wednesday, as a dispute over a newly introduced export tax has dragged on for more than two months.
Malaysia IFSA ‘to diversify Islamic investment products’
A provision under Malaysia’s Islamic Financial Services Act 2013 (IFSA) will prompt Islamic banks to diversify the investment products which they offer to customers, bank executives said.
Philippines to upgrade 12 airports to boost tourism
The Philippine government plans to upgrade 12 airports, including Manila’s dilapidated main international airport, as it seeks to attract 10 million foreign tourists by 2016 and help fuel one of Asia’s fastest-growing economies.
San Miguel ‘to propose $10 bln Manila airport’
San Miguel Corp, the Philippines’ most diversified conglomerate, is planning to present a proposal to the government soon for a new $10 billion airport in the capital, its president said on Tuesday.
Saudi Investment Bank ‘picks Riyad to arrange sukuk’
Saudi Investment Bank (Saib) has picked the investment banking arm of Riyad Bank to arrange a subordinated Islamic bond issue, banking sources said on Thursday, the latest lender in the kingdom to eye a capital-boosting sukuk offering.
Naeem Holding to cross-list on Abu Dhabi exchange
Naeem Holding for Investments has received approval from the United Arab Emirate’s financial regulator to list on the Abu Dhabi exchange, the firm said, a further sign of closer economic ties between Egypt and the Gulf.
Occidental ME asset sale ‘delayed due to regional disputes’
Occidental Petroleum Corp is facing delays in its efforts to sell its stake in its Middle East business due to regional disputes over the Muslim Brotherhood, according to Bloomberg.
Ithmar eyes $270 mln of Gulf PE deals
Private equity firm Ithmar Capital, which manages over $800 million in investments, expects to close deals worth at least one billion dirhams ($270 million) this year as economies in the Gulf continue to recover from the global financial crisis, its to…