International Business Opportunities

The Monday defeat of the 0-billion bank bailout bill in the U.S. House of Representatives battered the markets worldwide. Russia’s authorities opposed the threat by closing stock exchanges from the very morning. The floors opened later on and RTS and MICEX gained from 0.79 percent to 1.48 percent yesterday. But speaking about the sharp turn for the better would be premature. A number of big investors apparently decided to advantageously revaluate their portfolios on the last day of the quarter.
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The Anti-Corruption Council approved yesterday a package of four bills that will lay the legal foundation for the counter-corruption plan of Dmitry Medvedev. The bureaucrats and members of their families will have to declare not only the revenues but also the property. The bureaucrats, who have taken discharge, will need a special permit should they want to be employed in a company under the profile profession. The State Duma will have the bills in the nearest future.
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China Merchants Bank, announced Tuesday it had completed the 17 billion yuan purchase for 53.12 percent of Wing Lung Bank’s equity.
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Chief Executive of Hong Kong Special Administrative Region (HKSAR) Donald Tsang on Tuesday tried to pacify nervous investors after Wall Street’s historic overnight slump, saying he is confident Hong Kong’s solid economy will see it through the global financial turmoil.
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The U.S. Senate has scheduled to vote on a revised 700 billion dollar financial rescue plan on Wednesday, U.S. media reported.
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U.S. President George W. Bush warned Tuesday that the damage to the nation’s economy will be “painful and lasting” if Congress fails to act to rescue markets.
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The Sharjah Chamber of Commerce and Industry (SCCI) will implement the terms of a memorandum of understanding (MoU) it recently signed with Turkey’s Izmir Chamber of Commerce as the two trade bodies work to build close economic links.
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Singapore will tie up with Mark Burnett, the producer of Survivor and The Apprentice to film a reality television show in the island-state, helping to promote the Southeast Asian nation as a travel destination.
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Thomas Cook Group Plc, Europe’s second-biggest tour operator, scrapped a three-way airline merger with Deutsche Lufthansa AG and TUI Travel Plc, saying the Condor unit could stand alone now that competitors have failed.
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Tui and Thomas Cook, the two big tour operators, will gain as the others face greater pressure and do-it-yourself holidaymakers return to package deals, according to Peter Long, Tui Travel’s chief executive.
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