Profits near flat at two of China's Big Five banks, pressures persist


SHANGHAI Two of China's 'Big Five' lenders, Bank of Communications (BoCom) and Agricultural Bank of China (AgBank), reported modest annual profit growth on Tuesday, as they battled operating pressures and the narrowest net interest margins since at least 2011.

Amazon clinches deal to buy Middle East online retailer Souq.com 28 Mar 2017

DUBAI Souq.com will expand its workforce and operations after Amazon clinched a deal to buy 100 percent of the Middle East online retailer, executives from both firms said.

Exclusive: China's HNA in talks to buy controlling stake in Forbes - sources 28 Mar 2017

HONG KONG Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters.

China Southern Airlines to sell $200 million shares to American Airlines 28 Mar 2017

HONG KONG/SHANGHAI China Southern Airlines Co Ltd said on Tuesday it would issue HK$1.55 billion ($199.6 million) worth of shares to a subsidiary of American Airlines Group Inc, giving the U.S. airline a stake in China's largest carrier.

Asset sales plan secures EU backing for $130 billion Dow, DuPont merger 28 Mar 2017

Dow Chemical and DuPont won the blessing of the European Union for their $130 billion merger on Monday by agreeing to sell substantial assets including key research and development activities.

Carlyle Group takes minority stake in logistics firm Delhivery 24 Mar 2017

NEW DELHI The Carlyle Group has acquired a minority stake in Indian logistics firm Delhivery, while existing investor hedge fund Tiger Global also raised its stake, for a combined investment of more than $100 million, the buyout fund said on Friday.

Exclusive: Liberty House mulls stake in troubled Italian steel mill - sources 23 Mar 2017

LONDON Liberty House, the industrial and commodities group that is buying up steel assets around the world, is considering investing in the troubled Italian Piombino mill as the global market picks up from a slump, two sources close to the matter said.

Snapdeal says not in talks for sale 22 Mar 2017

MUMBAI Indian e-commerce marketplace Snapdeal on Wednesday denied it was in talks for a potential sale, after the Mint newspaper reported the company was in discussions with domestic rivals for a potential sale.

Indians leave bankers in the cold in $23 billion telecoms mega-deal 22 Mar 2017

HONG KONG/MUMBAI Investment banking business in India should be enjoying bumper fees after a record year of dealmaking. It's not, and big banks blame in-house teams of advisers that have proliferated as the country's top family-owned conglomerates tighten their grip.

Alibaba buys out online ticketing platform Damai 21 Mar 2017

SHANGHAI China's Alibaba Group Holding Ltd has fully acquired online ticketing platform Damai.cn, the e-commerce giant said on Tuesday, marking a further push into entertainment by the firm as it expands beyond its core online retail business.

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