Billabong International Ltd. (BBG.AU) said Thursday it has received a competing takeover proposal to a 694.5 million Australian dollars (US$708.2 million) offer from private equity firm TPG Inc.

Fraser & Neave Ltd. (F99.SG) said Thursday it has called a meeting of its shareholders on Sept. 28 to decide the fate of Heineken NV's (HEIA.AE) offer of 5.6 billion Singapore dollars (US$4.5 billion) for F&N's entire stake in Asia Pacific Breweries Ltd. (A46.SG), maker of Tiger beer.

Target Corp. (TGT) plans to be circumspect with promotions during the "ultracompetitive" holiday season, which played a large part in its expectation sales strength would mitigate in the second half.

CapitaMalls Asia Ltd. (JS8.SG, CLPAF) Thursday said it has signed a pact to buy a new shopping mall in Wuhan, China for 1.16 billion yuan (US$182 million).

Bank of Communications Co. (3328.HK) is considering selling asset-backed securities on the Shanghai Stock Exchange, the state-run China Securities Journal reported Thursday, citing unnamed sources.

Citigroup Inc. (C) has formed a commodity trade financing business, the Financial Times reported Wednesday.

South Korean GDP rose a seasonally-adjusted 0.3% in the second quarter of 2012, revised data from the Bank of Korea showed Thursday.

Industrial-gas supplier Praxair Inc. (PX) plans to invest 305 million Argentine pesos ($66 million) in Argentina to build two new plants to produce oxygen, nitrogen and argon, the country's industry ministry said in a statement Thursday.

Fraser & Neave Ltd. (F99.SG) Thursday said it has called a meeting of its shareholders on Sept. 28 to decide the fate of Heineken NV's (HEIA.AE) offer of 5.6 billion Singapore dollars (US$4.5 billion) to buy F&N's stake in Asia Pacific Breweries Ltd. (A46.SG), maker of Tiger beer.

Qantas Airways Ltd. (QAN.AU) has secured an alliance with Emirates Airline, the Australian Financial Review reported Thursday, without saying where it got the information.