Samsung purchases Sony's stake in LCD venture

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Source: BBC

Samsung Electronics buys out the entire stake of Sony Corp. in the LCD joint venture. Samsung will pay $939m in cash for Sony's stake. The sale followed Sony's restructuring of its TV operations that have made loss for seventh consecutive year. After acquiring the stake Samsung will become number one manufacturer of TVs and screen panels.

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Tue, 27 Dec 2011 12:10:08 GMT

Saudi Arabia announces budget surplus

Saudi Arabia announced $81.6bn budget surplus this year, being a two times higher income as compared to initial forecast. Revenues jumped to $296bn as compared to $184bn expected. More than 90% of the revenue growth was contributed by oil exports.

Tue, 27 Dec 2011 12:07:11 GMT

Tepco needs additional $9bn to compensate nuclear disaster

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