BANGALORE May 8 The following corporate
finance-related stories were reported by media on Tuesday:
* China's top economic planning agency, in a setback for
foreign private equity funds, has ruled that all capital in a
yuan-denominated fund must come from local Chinese investors,
failing which the funds will be treated as foreign, the Wall
Street Journal said.
* DLF Ltd, India's biggest property company, plans
to sell a majority stake in its life insurance joint venture to
India's HCL Group for about 5 billion rupees ($95 million), the
Business Standard reported on Tuesday.
* China's securities regulator is considering giving
preferential tax treatment to long-term investors such as
pension funds, the Securities Times reported on Tuesday.
* Germany's Metro plans to double the number of
its stores in China to more than 100 over the next three to four
years to grab a bigger share of the country's growing retail
market, China Business News reported on Tuesday.
* Fuel prices in the United Arab Emirates are too high and
should be brought down to match levels in other Gulf countries
according to a proposal by an advisory council's committee,
daily newspaper Gulf News said on Monday.
* Samsonite International, the world's biggest
luggage maker, is eyeing acquisitions of smaller, privately held
companies, its chief executive told a German newspaper.
* Tokyo Electric Power Co and the government-backed
Nuclear Damage Liability Facilitation Fund plan to replace the
utility's President Toshio Nishizawa with managing director
Naomi Hirose, the Nikkei business daily said.