Industry News

Extra Space Storage Inc approved a quarterly dividend of USD0.78 per share on the company's common stock for the third quarter of 2016, it revealed on Monday. This dividend will be paid on 30 September 2016 to stockholders of record at the close of business on 15 September 2016.. Extra Space is a real estate investment trust and as of 30 June 2016, owned and/or operated 1,412 self-storage properties in 37 US states, Washington DC and Puerto Rico."/>
Extra Space Storage declares dividend of USD0.78 per share for Q3 2016
Clayton Williams Energy reported on Monday the completion of the sale of 5,051,100 shares of its common stock. The company sold the common stock to funds managed by Ares Management LP for cash proceeds of USD150m, or approximately USD29.70 per share. Clayton has also named Ronald D. Scott to its board of directors pursuant to a stockholder agreement and equity transaction agreement with Ares."/>
Clayton Williams Energy raises USD150m from sale of common stock
DLF Ltd, India's largest real estate developer, has shortlisted bidders for the ongoing office stake sale transaction and expects to receive binding, updated bids in the form of shareholder agreement once the short-listed bidders complete their due diligence. The realty firm circulated the information memorandum to a number of investors across the globe in April, and received bids from sovereign pension funds and private equity investors in June."/>
DLF shortlists bidders for mega stake sale deal [Mint, New Delhi]
Crisil Ratings. A Crisil study of 80 rated companies that have reported their first quarter results as per IndAS showed that there was a deviation in profitability by 5% or more for around a..."/>
IndAS to change profitability, net worth of Indian firms by 5%: Crisil report [Mint, New Delhi]
IndAS and why the numbers don't add up [Mint, New Delhi]
MediaTek invests $60 million in Paytm, values it at $4.8 billion. Taiwan-based MediaTek's investment arm Mountain Capital has invested $60 million in Paytm's parent One 97 Communications, valuing the digital payments and commerce firm at $4.8 billion, reported The Times of India."/>
Deals Buzz: Mediatek invests $60 million in Paytm [Mint, New Delhi]
Allegheny Valley Bancorp, Inc. have signed a definitive merger agreement to form a partnership of their financial institutions that will result in a combined community banking franchise with total assets of nearlyUSD 1 bnand 18 branches located throughoutSouthwestern PennsylvaniaandWestern Maryland, the companies said. Standard Financial is the parent holding company for..."/>
Pennsylvania Banking Firms Standard Financial, Allegheny Valley Bancorp to Merge in USD 56.5m Deal
Allstate's 2016 America's Best Drivers Report ® i reveals motorists in certain cities are safer drivers when navigating the gridlock, and their suburban counterparts frequently perform better. The report finds that when factoring population density, together with the frequency of auto property damage claims, Madison, Wisconsin, has the safest drivers."/>
As Roadway Fatalities Rise, Allstate Unveils the Cities With The Safest Drivers When Population Density is Part of the Equation
Bank of India on Monday stated that India's growth prospects in financial year 2016-17 are somewhat brighter than what they were in 2015-16, primarily due to better monsoon, as well as due to better money in the hands of government employees owing to the seventh pay commission. "A virtuous cycle of growth is possible, reinforced by anticipation of the coming benefits from reforms like the recently passed Goods and Services Tax legislation in Parliament,"..."/>
RBI's FY16 annual report: Five key takeaways [Mint, New Delhi]
Yes Bank launched unified payments interface based payments app on Monday. PhonePe allows users to link their bank accounts securely to their smartphone using National Payments Corporation of India's encrypted libraries."/>
Flipkart's PhonePe ties up with Yes Bank to launch UPI-based app [Mint, New Delhi]
Pointer Telocation Systems Ltd. has acquired a fleet services management company in Southern Brazil. Pointer will pay $6.5 million in cash for Cielo Telecom, which manages fleet customers covering 16,000 trucks. Cielo, founded in 1994, has a strong presence in the Brazilian truck sector."/>
Pointer buys Brazilian fleet management co for $6.5m [Globes, Tel Aviv, Israel]
First International Bank of Israel controlling interest partners sold 4% of the shares of FIBI Holdings Ltd., through which the bank is controlled, for NIS 80 million. The shares were sold for NIS 56.30, 3% lower than the stock exchange closing price yesterday. FIBI share prices have jumped over 10% in 2016, reflecting a market cap of NIS 2.06 billion."/>
Liberman family sells part of First Int'l Bank stake [Globes, Tel Aviv, Israel]
Jerusalem Economy Ltd., managed by CEO David Svida, today reported strong results for the second quarter and first half of 2016. The company reported NIS 51.4 million profit, compared with heavy NIS 116.7 million losses in the corresponding quarter last year. Jerusalem Economy's results are published one day after brothers Naty and Ofer Saidoff, former Israelis dealing with real estate in the US, made an unexpected proposal to acquire 29% of the..."/>
As Saidoff bros circle, Jerusalem Economy posts strong quarter [Globes, Tel Aviv, Israel]
DLF Ltd's net profit more than doubled in the June quarter, compared with the corresponding period a year ago, owing to a one-time extraordinary gain from the sale of DT Cinemas. India's largest developer's net profit rose 107.6%, while revenue dropped 21.82% to Rs.1, 867.46 crore in the same period. During the June quarter, DLF concluded the DT Cinemas sale transaction to multiplex owner PVR Ltd, resulting in a one-time extraordinary gain of Rs.372..."/>
DLF Q1 profit doubles to Rs261.42 crore aided by sale of DT Cinemas [Mint, New Delhi]
Facebook page and organic treats in its lobbies."/>
Green banker: Reception to Lauderdale branch preferable to 'ridicule and scorn' he experienced in Central Florida [Sun Sentinel]
Federal National Mortgage Association, while delinquency fell to a new eight-year low. The Washington-based company's total book of business concluded July at $3.1032 trillion, according to its monthly summary. Fannie Mae trimmed the balance from $3.1038 trillion one month previous and reduced it from $3.1067 trillion one year previous."/>
New Business Holds Up at Fannie, Delinquency Down [Mortgage Daily]
MGIC Investment Corp. has passed away, according to the mortgage insurance company. William H. Lacy joined the Milwaukee-based company in 1971. In 1985 he became CEO of subsidiary Mortgage Guaranty Insurance Corp.."/>
Former MGIC Chief Dies [Mortgage Daily]

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