Royal Dutch Shell has agreed to buy East Resources, a US-based natural gas explorer, for $4.7 billion (approx. Ôé¼3.8 billion).

Apple, the maker of iPods, iPhones and iPads, has overtaken the computer software giant Microsoft to become the worldÔÇÖs most valuable technology company.  As of Wednesday, Wall Street valued Apple at $222.12 billion and Microsoft at $219.18 billion. The only American company valued higher is Exxon Mobil, which has a market capitalization of $278.64 billion.  The shift marks a significant turnaround for the fortunes of Cupertino, California-based Apple, following a lengthy domination of the PC market by Redmond, Washington-based Microsoft.

Abu Dhabi-based polymer producer Borouge has awarded three major engineering, procurement and construction (EPC) contracts collectively valued at about Dh9.54 billion (Ôé¼2.1 billion) for its Borouge III expansion project at its facility in Ruwais.

Magna International, Canada's biggest car parts manufacturer, has said it will invest between $400 million to $600 million in two new plants to manufacture lithium-ion batteries for electric cars.  The company is said to be scouting locations for the plants, one of which will be in the US and the other in Europe. About $200 million to $300 million will be spent on each plant.

A consortium of coal miners has bid A$4.8 billion (approximately Ôé¼3.2 billion) for AustraliaÔÇÖs biggest coal railroad in an attempt to see off the governmentÔÇÖs planned IPO of the track network and coal haulage business.

Ford has announced it is investing $135 million to bring battery pack and hybrid vehicle transmission production to Michigan, creating new jobs at three facilities.  The new jobs will form part of FordÔÇÖs strategy to introduce two electric vehicles and three new hybrids to the market by 2012.

The UKÔÇÖs Bristol Airport has been given the go-ahead for expansion, which will enable it to significantly increase the number of passengers it handles.

Toyota has agreed to invest $50 million in Tesla, the niche US builder of battery-powered sports cars, it has been announced.

Gold Fields, AfricaÔÇÖs second-biggest gold producer, has said it may dig a new mine in Mali to expand its annual West African production to one million ounces.

Abbott Laboratories has signed an agreement with IndiaÔÇÖs Piramal Healthcare to buy its Healthcare Solutions business, a branded generics maker, it has been announced.