Two consortiums, one involving ICA and others and the second Abengoa and partners, have submitted technical bids for construction and operation of the Monterrey VI water pipeline in Mexico. The pipeline will serve Nuevo León state capital Monterrey.
Updated 5 Years ago

QBE Insurance Group Ltd. (QBE) plans to raise about $750 million in a share placement and sell assets including part of its lenders’ mortgage insurance business in Australia after reporting an 18 percent drop in earnings. The insurer, which earns about three quarters of its premiums outside Australia and New Zealand, will sell $600 million in shares to institutions and raise about $150 million through a share purchase plan, it said in a regulatory filing. QBE will also sell its U.S. agency business and seek partners for two Australian equivalents, it said. The proposals, along with a debt refinancing, will raise about $1.5 billion, chief executive officer John Neal said in a call with reporters.
Updated 5 Years ago

Malaysia’s state-owned investment fund, which is offering to take the national airline private, sold 1.5 billion ringgit ($476 million) of Islamic bonds today, said two people with knowledge of the deal. Khazanah Nasional Bhd. priced the five-year debt to yield 4.14 percent, within its earlier guidance of 4.1 percent to 4.18 percent, said the people who asked not to be named because the information hasn’t been made public yet. The issuance is part of a 7 billion ringgit program to raise funds for corporate purposes, they said.
Updated 5 Years ago

China’s antitrust regulator fined bearing maker NSK Ltd. (6471) 2.9 billion yen ($28 million) for violating rules, the first Japanese company to be punished amid an industrywide probe into pricing practices. NSK said it is cooperating fully with the investigation by China’s National Development and Reform Commission into its bearings transactions and will make a further disclosure if the fine has any impact on its full-year forecasts, the Tokyo-based company said in a statement to the Tokyo Stock Exchange today.
Updated 5 Years ago

Stories posted in users' feeds are being tagged as "[Satire]" in an apparent move to prevent them being mistaken for real news stories. Satirical stories have provoked confusion and angry comments from some social media users. Facebook told the BBC that feedback from users has highlighted the need for the feature.
Updated 5 Years ago

The attack, which Community Health Systems believed originated in China, happened in April and June this year. The data included patient names, addresses, birthdates, telephone numbers and social security numbers.
Updated 5 Years ago

Dollar General has entered the bidding for Family Dollar with an offer worth about $9.7bn (£5.8bn) including debt. The bid trumps an $8.5bn offer for Family Dollar made last month by Dollar Tree. Dollar stores expanded fast during the US economic downturn, but have faced competition from some of the bigger chains, including Wal-Mart.
Updated 5 Years ago

The funding is compensation for fresh produce which will not be sold. Instead it will be distributed free to schools, hospitals and other institutions. Tomatoes, peppers, cucumbers, grapes and pears are included in the scheme. Russia has banned many food imports, angry at EU-US sanctions over Ukraine.
Updated 5 Years ago

All operations on Russia’s Gazprom-led project South Stream have been suspended, as they do not meet the requirements of the European Commission, Bulgaria’s Ministry of Economy and Energy said on its website. “Minister of Economy and Energy Vasil Shtonov has ordered Bulgaria’s Energy Holding to halt any actions in regards of the project,” the ministry said. This specifically means entering into new contracts.
Updated 5 Years ago

The Central Bank of Nigeria (CBN) has announced plans to provide up to N10 million in guarantees for each recapitalised bureau de change (BDC) interested and qualified to participate in the outbound money transfer operations launched at the weekend. Godwin Emefiele, governor, Central Bank of Nigeria (CBN), said, however, that the money will be taken out of the BDCs’ N35 million mandatory cautionary deposit held by the apex bank in line with the new recapitalisation guidelines.
Updated 5 Years ago