Russia's Yandex purchases SPB

Source: Marketwatch

Yandex, Russian search engine company, buys SPB Software, a mobile software firm, in order to increase its mobile offerings. Yandex sees a mobile industry as a crucial part of its expansion strategy; the takeover of SPB Software creates new possibilities for Yandex to penetrate mobile industry, said Arkady Volozh, CEO at Yandex. Yandex company also reported about successful performance this year; earnings for the Q3 rose by 93% as a result of higher revenue, new products and services provided.

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Mon, 28 Nov 2011 14:48:39 GMT

Japan's Nikkei 225 recovers

Japan's Nikkei Stock Average added 1.56% on Monday trade partly recovering from last week losses. Index closed at 8,287.49 or 127.48 points up as European leaders declared they have agreed on way how to finance EFSF salvage fund. Commodity sector companies and banks were the major gainers in Japanese markets. Nomura Holdings Inc. surged 4.4%, JX Holdings Inc. gained 3.1% whereas Sumitomo Metal Industries Inc. jumped

Mon, 28 Nov 2011 14:46:18 GMT

Italy's cost of borrowing increases

Italy's cost of borrowing increased after the country sold 567 million euros of inflation-indexed government bonds that mature in 2023. The gross yield of bonds is 7.30% as compared to 2.90% in previous auction in March 2010. The rapid increase in the bond yields raise fears that the third-largest economy in Europe will seek another bailout. More significant test will be on Tuesday when Italy

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