Industry News

HDFC Bank Ltd, the largest private sector bank in India, was India's most valuable brand for the third successive year, and emerged on top of the BrandZ Top 50 Most Valuable Indian Brands ranking released by WPP Group and Kantar Millward Brown. HDFC Bank was also the only Indian brand in the BrandZ top 100 most valuable global brands list released in June. The total brand value of the top 50 brands in India declined by 2%, primarily due to a decline in the brand value of..."/>
HDFC Bank is still India's most valuable brand: Brandz ranking [Mint, New Delhi]
Edelweiss Financial Services Ltd has agreed to acquire Ambit Investment Advisors' flagship hedge fund Ambit Alpha Fund with an AUM of over Rs.1, 100 crore, as per a statement. The deal size was not disclosed. With the transaction, which is subject to due diligence and requisite regulatory approvals, Edelweiss will be its new investment manager."/>
Edelweiss Group to acquire Ambit Alpha Fund [Mint, New Delhi]
Countdown to "Think Asia, Think Hong Kong" in Germany Next Week
Moody's Investors Service in a report. "Growth in the Islamic banking sector continues to broadly outpace that of conventional banks in most systems in which Islamic banks have been established," says Khalid Howladar, global head of Islamic finance at Moody's. "This is driven by strong retail demand and proactive government..."/>
Prospects remain robust for Islamic finance [Arab News, Jeddah, Saudi Arabia]
Nasdaq, Inc. and the Tokyo Commodity Exchange today announced the successful go-live of TOCOM’ s new trading system, which is powered by Nasdaq’ s Genium INET technology, as well as Nasdaq Pre-Trade Risk and SMARTS Market Surveillance solutions. The new system is now fully integrated with the Osaka Exchange’ s derivatives trading system, which also runs on the same Nasdaq trading technology. This approach of a mutually-shared trading system between..."/>
Tokyo Commodity Exchange (TOCOM) Goes Live on Nasdaq Trading Technology
Tetragon Financial Group Master Fund Limited.. Net Asset Value Estimates as of 31 August 2016."/>
Tetragon Financial Group Limited ("TFG") Monthly Update For August 2016
Statoil ASA on 23 May 2016 regarding the participation by the primary insiders in the dividend issues under the scrip dividend programme. The following oveview sets out the number of Dividend Shares allocated to the primary insiders in the Dividend Issue for the first quarter 2016:* Wenche Agerup, member of the board of directors, has been allocated 35 Dividend Shares in the Dividend Issue. Following the completion of the Dividend Issue,..."/>
Statoil ASA: Allocation of Dividend Shares to primary insiders
Statoil ASA regarding the Dividend Issue for the first quarter 2016.. The subscription period expired on 9 September 2016 and subscriptions were made for a total of 19,969,275 Dividend Shares in the Dividend Issue, reducing the dividend payable by approximately USD 309 million for the Company. Approximately 45% of shareholders' total net dividend have been used to subscribe for shares in the Dividend Issue."/>
Statoil ASA: Result of the Dividend Issue for the first quarter 2016
Max Financial Services Ltd, which owns Max Life Insurance, is currently seeking votes from its minority shareholders on the non-compete..."/>
HDFC Life-Max merger deal: Amfi warns mutual funds on non-compete fee payment [Mint, New Delhi]
Essel Propack Ltd has acquired the remaining 75.1% stake in its joint venture Essel Deutschland Germany, the company said in a statement. Essel earlier held a 24.9% stake in the German firm, which will now become a wholly owned business. EDG, which makes laminated tubes mainly for the cosmetic and food industries across Europe, posted net sales of $40 million in fiscal 2016.."/>
Essel Propack buys remaining stake in German venture [Mint, New Delhi]
Orient Paper and Industries Ltd decided to demerge its electrical appliances division to unlock shareholder value, a top official said. Last week, the CK Birla group company said it will separate its paper and appliance businesses and raise Rs50 crore through a rights issue to repay loans. "The earlier conglomerate model of running multiple businesses under one company does not get you fair valuation," said managing director Manohar Lal Pachisia said in an..."/>
Orient Paper to demerge electrical appliances division [Mint, New Delhi]
Punjab National Bank, the lead lender in the ABG..."/>
Lenders finalizing debt restructuring package for ABG Cement [Mint, New Delhi]
First National Bank Alaska Senior Vice President and Chief Financial Officer Michelle Schuh. "Now I think people are just being cautious." Schuh clarified that the second quarter of 2016 was steady for her bank, and likely for the rest of the state, but the lack of legislative solutions to the state's $4 billion budget deficit is starting to affect the business community's outlook, if not the numbers."/>
Alaska's bankers keeping their eyes on an uncertain future [Alaska Journal of Commerce, Anchorage]
Bank of America and other downtown business leaders to announce a $25,000 pre-development grant for the project."/>
BRIEF: Fresno Public Market project to get $25,000 grant [The Fresno Bee]

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