International Agencies jointly provide 25 billion U.S. dollars Capital to Hungary
On October 28, International Monetary Fund (IMF) announced that IMF, European Union and the World Bank agreed on the same day to provide 25 billion U.S. dollars to help Hungary overcome the financial crisis. According to the IMF announcement, they had reached agreement with Hungarian to provide 15.7 billion USD loan. Moreover, the European Union and the World Bank are prepared to provide to the country 8.1 billion USD and 1.3 billion USD respectively.
Hungarian Government reached the 800 Million Euros Investment Agreement with Mercedes-Benz
The Government of Hungary signed the investment agreement with new factory of Mercedes-Benz automobile company in Kecskemét Hungary, while the total investment volume is about 800 billion euros.
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Sanyuan firstly admit to merge Sanlu; Suspension because of mergers and acquisitions
Sanyuan Share yesterday announced that, at present, the company and the Shijiazhuang San Lu Group Co., Ltd. were discussing the merger and acquisition, so they continue to suspend the shares.
General Motors Merges Chrysler and canvasses for 10 billion U.S. dollars from Government
The news reported to American national largest car manufacturer General Motors is seeking for the approval on 10 billion U.S. dollars from the federal government so that they could merge the third largest Chrysler factory. Once the merger and acquisition being successful, they would carry out the massive layoffs to cut down the cost.
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Russia plans to Promote Trade National Currency Balance between China and Russia
Russian Embassy business delegate recently said in Beijing that Russia would plan to promote the bilateral trade rubles or CNY settlement between China and Russia. He also expressed that using the national currency balance was propitious to keep the stability of exchange rate. At present, only small part of border trade between two parties introduce national currency, which only accounts for 1%, whereas the large amount of commodity trade is not covered.
China and Russia reach “loans-for-oil” agreement
Russian Deputy Prime Minister (Igor Sechin) did not disclose how much loan will China provide; he said the specific amount will depend on the future agreement among Russian oil and pipeline company OAO Rosneft and OAO Transneft and the Chinese energy giant China National Petroleum Corporation (CNPC).
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