Gazprom will soon announce a fundamentally new liquefied natural gas (LNG) project in Russia, the gas giant’s CEO Aleksey Miller announced. Miller, speaking recently in Tomsk, declined to comment further on the project. This could be a liquefied natural gas (LNG) plant that will extract gas from the unified gas supply system, a source in the gas industry told Interfax. The source did not exclude the possibility that the Baltic LNG project in the Leningrad Region could be resurrected – a project Gazprom had announced but decided against in favor of Shtokman.
Google is considering buying Israeli mobile satellite navigation startup Waze Inc. in a move that may lead to a bidding war with Facebook, Bloomberg reported. Waze is seeking more than $1 billion and is fielding multiple interested parties, according to sources familiar with the matter. Facebook Inc. has reportedly held talks to buy Waze for as much as $1 billion. Google and other parties approached Waze after the Facebook talks became public, but none of the bidders are reportedly close to sealing a deal.
General Electric is considering spinning off parts of its financial arm, GE Capital, through an initial public offering, Chief Executive Jeffrey Immelt said. GE planned to reduce GE Capital's ending net investment (ENI), a balance sheet measure, to between $300 billion and $350 billion by the end of 2014, Reuters quoted Immelt as saying. General Electric said on Monday that GE Capital would pay $6.5 billion in dividends to its parent in 2013.
Luxoft Holding Inc., a Russian-backed software developer, has filed for an initial public offering in New York, Bloomberg reported. The company is preparing for an $80 million offering, though this amount is a placeholder that may change. UBS, Credit Suisse Group AG, JPMorgan Chase & Co., VTB Capital and Cowen & Co. are managing the sale. Luxoft is a unit of Moscow-based IBS Group Holding Ltd. IBS President and main shareholder Anatoly Karachinsky said in November he sought to spin off Luxoft to unlock value for shareholders who are not interested in the Russian part of the group’s business.
Futures trading in Osaka was brought to
a stop at 14,780 yen at 2:28pm Tokyo, a first since March 2011. The Asian regional benchmark is inching
towards its biggest drop since November 2011, on weak Chinese production output. China’s biggest metal
producer has dropped down to 3.26% at 15:00 in Hong Kong. Toyota Motor Corp plummeted 4.1 percent early
but has since recovered. The biggest loser is the Nikkei Index, which is down
7.32 percent at 16:00 in Tokyo. The Nikkei index is down 7.32 percent and the
Hang Seng is down 2.53 percen
Russia's VTB bank has completed the placement of 102.5 billion rubles ($3.3 billion) in new shares, bank chief Andrey Kostin said. “It would be no exaggeration to say this was an unprecedented deal,” Kostin said during a working meeting with President Vladimir Putin on Wednesday. “All the shares have been sold in Russia and invested at the Moscow Exchange,” Kostin added. The sovereign wealth funds of Qatar, Norway and Azerbaijan and China Construction Bank bought about 55 percent of the new shares on offer from Russia’s second-largest bank. A share issue was essential for VTB to improve its capital adequacy ratio and fuel lending growth targets.
Police have begun investigating the Hong Kong Mercantile Exchange Ltd., owner of a failed commodities market, after the securities regulator found suspected financial irregularities, Bloomberg said. Three men were arrested after the May 18 shuttering of the exchange, and Chair Barry Cheung has taken a leave of absence from all public positions. Cheung has not been accused of wrongdoing. HKMEx lost its trading license after failing to attract sufficient volume to compete with rivals such as the Chicago Mercantile Exchange and the London Metals Exchange, which was bought by Hong Kong’s stock exchange operator last year.