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) UPPDATE 1-Malaysia's DRB gets c.bank nod for Primus talks
KUALA LUMPUR, Sept 26 - Malaysia's central bank has given approval to Malaysia's DRB-Hicom Bhd to start talks for the sale of its 20.2 percent stake in EON Capital Bhd to Hong Kong-based investment firm Primus Pacific Partners, DRB-Hicom said on Wednesday. . More>> - (
) A new map for college aid
A new federal law revamping education financing provides good news for students eligible for financial aid: Interest rates on subsidized student loans will be cut in half over the next four years."The financial aid package gets better for those who are eligible for need-based financial aid, since interest rates are dropping," said Joseph Hurley, chief executive of Savingforcollege.com, a Web site on college financing.
The College Cost Reduction and Access Act, which President Bush recently signed into law, has been called the largest overhaul of aid to college students since soldiers returned from World War II battlefields and headed into the classroom.
While it doesn't change the strategy and approach that families should take when shopping for college financing, it will give them more benefits to go with the financial aid options that are available. More>>
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) Fitch assigns Lanka's debut sovereign bond 'BB-' rating
Fitch Ratings has assigned the Democratic Socialist Republic of Sri Lanka's forthcoming debut sovereign bond a rating of 'BB- (BB minus)'.This rating is in line with Sri Lanka's 'BB-' Long-term foreign currency Issuer Default rating (IDR) which is on Negative Outlook.
Fitch assigned Sri Lanka Long-term IDRs of 'BB-' in December 2005. The Outlook on Sri Lanka's Sovereign Ratings was subsequently revised from Stable to Negative in April 2006, in response to a renewed outbreak of violence between government security forces and the Liberation Tigers of Tamil Eelam (LTTE), which seeks a separate state.
Sri Lanka's economy has displayed a remarkable resilience to shocks over a long period of time, sustaining negative growth only once in recent times, at the height of the last outbreak of hostilities in 2001. More>>
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) Christian Salvesen backs £254m bid
Christian Salvesen, one of the oldest names in Scottish business, is to disappear after it was announced yesterday the 135-year-old company will be bought by France's second-biggest haulage company, Groupe Norbert Dentressangle.Salvesen, which has been a takeover target since it split from Aggreko almost 10 years ago, finally succumbed to an offer of 92p a share, valuing the firm at £254.4m.
The price is 79% above Salvesen's closing price on September 24, the day before the Edinburgh-based logistics company disclosed it was being stalked by two potential bidders.
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