Industry News

Hero MotoCorp Ltd and Honda Motorcycle and Scooter India Pvt. Ltd-- are preparing for a sales blitz on a scale not seen in the recent past. They are on an overdrive, stocking dealers with two wheelers much ahead of a season that only peaks in October with all the key festivals--Navratra, Dussehra and Diwali--falling in that month."/>
Hero, Honda switch gears ahead of festive season [Mint, New Delhi]
Kingfisher Airlines Ltd to investigate whether they laundered money taken as loans, two ED officials familiar with the development said on condition of anonymity. The fresh probe is in addition to the Rs.900 crore IDBI Bank loan default case that the agency is currently investigating. ED's fresh case against Mallya and Kingfisher Airlines is based on a complaint filed by a State..."/>
ED to register fresh case against Vijay Mallya [Mint, New Delhi]
Industrial and Commercial Bank of China Ltd., replacing a facility of it signed with regional banks two months ago, the Riyadh-based telecom company said in a statement posted on Tadawul website. This new facility will have a lower..."/>
Zain Saudi inks loan deal with major Chinese bank [Arab News, Jeddah, Saudi Arabia]
Bank of America, which was sued by an Arab-American charity in Southfield that had accused it of discriminating against them when it closed the charity's bank accounts. In 2012, Life for Relief and Development in Southfield filed a lawsuit in Detroit against Bank of America after it had closed its accounts. Bank of America officials have said their decision was not because of the Arab ethnicity of Life's leaders."/>
Jury sides with bank in lawsuit by Arab-American charity in Southfield [Detroit Free Press]
BRIEF: ATCO increases listed capital [Jordan Times, Amman]
Custodian REIT plc has acquired 44,606 sq ft of retail warehousing on County Road Retail Park, Swindon, the company said. Custodian said that the property is near the town centre and railway station and within five miles of the M4. The site comprises two units let to Go Outdoors Ltd. and B/MBargains Ltd., with nearby occupiers including Tesco, Wickes, Lidl and TKMaxx."/>
Custodian REIT Buys Swindon, UK Property for GBP 7.18m 
Strategic Internet Investments, Inc. has moved towards the final steps in its planned acquisition of the Turkey-based SkyTower Hotel by issuing USD 63 m in debentures to the owner of the hotel and to several strategic investors, the company said. Strategic Internet Investments said it continues to expand its portfolio of real estate properties following its acquisition ofAkCenter Shopping Centerlast month. For the SkyTower..."/>
Strategic Internet Investments Moves Closer to SkyTower Hotel Acquisition
CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trades of the USD Malaysian Crude Palm Oil Calendar futures that were launched on 11 July 2016. The trade that took place on 12 August 2016 was between Louis Dreyfus Commodities and a major Indonesian palm oil plantation house, and was brokered by Ginga Global Markets Pte Ltd. A total of 120 futures contracts, equaling 3,000 metric tons, were traded."/>
CME Group Announces First Trades of New Crude Palm Oil Calendar futures
Aimco Acquires California Apartment Community for USD 320m
First Republic Bank and Rosana Han, head of the bank's Community Reinvestment programs, have both been recognized by the National Asian American Coalition for their work in addressing income and wealth inequality. Founded in 2004, NAAC's mission is to support sustainable and responsible homeownership for low- to moderate-income families and provide technical assistance, marketing and outreach to small businesses, minorities and..."/>
First Republic Honored For Addressing Income Inequality
Huntington Bancshares officially ranks as Ohio's largest bank based on deposits after completing the purchase of Akron-based FirstMerit on Tuesday. The merger gives Huntington assets of approximately $100 billion. The bank has nearly 1,000 branches across Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia and Wisconsin."/>
Huntington completes merger with FirstMerit [The Repository, Canton, Ohio]
Sotherly Hotels Inc. today announced the pricing of its upsized underwritten public offering of 1,610,000 shares of its 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock for total expected gross proceeds of approximately $40,250,000 before expenses. The Company has granted the underwriters a 30- day option to purchase up to an additional 15% of the Series B Preferred Stock to cover over-allotments, if any. The offering is expected..."/>
Sotherly Hotels Inc. Announces Pricing of Upsized Offering of Series B Cumulative Redeemable Perpetual Preferred Stock

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