Canada's Bombardier has signed a $241 million contract to build and operate a monorail system in Saudi Arabia, it has been announced.  The Montreal-based company has won the contract with Saudi Oger, a leading Saudi Arabian construction company, for the new 3.6 kilometer Innovia Monorail system in Riyadh. The system will stretch through the King Abdullah Financial District currently being built.

Channel Tunnel operator Eurotunnel is buying the UK's third-largest rail freight operator, GBRf, from UK transport company FirstGroup for Ôé¼26.3 million.

Royal Dutch Shell has agreed to buy East Resources, a Pennsylvania-based natural gas explorer, for $4.7 billion.  Warrendale, Pennsylvania-based East Resources is one of the biggest players in the natural gas exploration area known as the Marcellus Shale, which stretches from West Virginia to New York.

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.