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Top K-pop agency denies Alibaba investment report SEOUL: South Korea's top K-pop entertainment firm on Tuesday denied a report that it was the target of a major investment deal worth at least $90 million from Chinese e-commerce giant Alibaba."We are discussing potential partnerships with many companies in order to diversify our businesses in China," SM Entertainment said in a regulatory filing."But the report on the investment deal with Alibaba is not true," the company added.The Korea Economic Daily had cited unnamed industry sources saying Alibaba was conducting due diligence on the Seoul-based entertainment group with a view to a 100 billion won ($90 million) investment.The report also said the two firms were considering setting up a joint venture in China.Listed on Seoul's junior Kosdaq market, SM is valued at around 788.7 billion won. Former singer and founder Lee Soo-Man holds the largest stake of 21.3 percent.The SM K-pop stable includes some of the industry's biggest acts, including ...

Alibaba to invest in top K-pop agency: report SEOUL: Chinese e-commerce giant Alibaba is planning a major investment worth at least 100 billion won ($90 million) in South Korea's top K-pop entertainment firm, a report said Tuesday. Alibaba is conducting a due diligence on Seoul-based SM Entertainment in preparation for the investment, the Korea Economic Daily said, citing unnamed industry sources familiar with the negotiations. A South Korean accounting firm hired by Alibaba has been confirmed to be carrying out the due diligence, ...
Stealthy spy software snooping for years: Symantec SAN FRANCISCO: Computer security firm Symantec on Monday said it uncovered stealthy software wielded as part of a years-long spying campaign, most likely by a nation state.The malicious software, dubbed Regin, has a rare level of sophistication and has been targeting government agencies, telecoms, utilities, airlines, research facilities, private individuals and others since at least 2008, according to Symantec Corporation.Attacks on telecom firms appeared aimed at getting access to calls being routed through networks."Regin is ...
Spain's Telefonica in preliminary talks with BT over UK operations MADRID, Nov 24 (Reuters) - Spanish telecoms group Telefonica said on Monday it was in preliminary talks with BT over a potential transaction involving its UK unit. "Telefonica informs that, although it is in talks with British Telecom, these talks are in a highly preliminary phase and there is no certainty that a transaction will take place," the firm said in a statement to Spain's stock market regulator. Copyright Reuters, 2014 ...
Phosagro says fertiliser sales to rise by 31pc by 2020 MOSCOW: Russian fertiliser company Phosagro said on Monday it planned to increase sales of fertilisers, mainly urea, by 31 percent by 2020.Phosagro, one of the world's largest producers of phosphate fertilisers, gave the forecast in a presentation at an investor conference.Copyright Reuters, 2014 ...
SpiceJet says in talks with investors for fresh capital NEW DELHI: India's SpiceJet Ltd is in "exploratory and preliminary stage" talks with investors about raising fresh capital, the budget airline said in a regulatory statement on Monday.The airline said a few parties had approached it about making an investment but because the talks were at an early stage it would be improper to comment on the specifics of any possible stake sale.SpiceJet, which has lost money for five consecutive quarters, has been trying to ...
Tesla says in talks with BMW over car batteries, parts FRANKFURT: US electric carmaker Tesla Motors is in talks with Germany's BMW over a possible collaboration in batteries and lightweight components, Tesla's Chief Executive Elon Musk told German weekly Der Spiegel.In an interview published on Sunday, Musk described BMW's production of carbon fibre reinforced car body parts as "interesting" and "relatively cost efficient."BMW uses carbon fibres from its joint venture with materials supplier SGL to make reinforced passenger cell parts for its i3 electric hatchback ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln