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India & Pakistan


Financial News

Food-Inflation May Slow in India After 18% Increase for Six Straight Weeks India’s food-inflation rate stayed at around 18 percent for a sixth week, a sign that farm prices may have peaked and will start declining soon.

AstraZeneca Ties Up With India's Torrent to Market Drugs in Nine Countries AstraZeneca Plc signed an agreement with Torrent Pharmaceuticals Ltd. to brand and market 18 of the Indian drugmaker medicines in 9 emerging economies, marking the U.K. drugmaker’s first generic-drug partnership.

Bank of America Said to Have Hired JPMorgan's Nakhate to Head Indian Unit Bank of America Merrill Lynch hired JPMorgan Chase & Co.’s Kaku Nakhate to head its Indian operations, according to a person familiar with the matter.

Mukesh Ambani, Li Increase Wealth at World's Quickest Pace, Forbes Says Asian billionaires including India’s Mukesh Ambani and Hong Kong’s Li Ka-shing increased their wealth as the region’s rich expanded their fortunes at the world’s quickest pace in the past year, Forbes magazine said.

Sensex Index Climbs to Seven-Week High; Sun Pharmaceutical Leads Advance Indian stocks fluctuated. Hindustan Unilever Ltd. fell on concern food-price inflation may prompt policy makers to curb liquidity. Sun Pharmaceutical Industries Ltd. rose after investors were advised to hold the stock.

Fortis Healthcare Agrees to Acquire TPG's 23.9% Stake in Parkway Holdings Fortis Healthcare Ltd. agreed to buy TPG’s 23.9 percent stake in Parkway Holdings Ltd. for S$959 million, according to a statement handed out at a press meeting in Singapore today.

Billionaire Anil Ambani's India Fund to Double Investments in Three Years Indian billionaire Anil Ambani’s venture fund plans to invest in areas including so-called clean technologies as it doubles investments over the next three years.

Rupee Drops From 2-Month High as Indian Importers, Government Buy Dollars India’s rupee weakened for the second time in nine days on speculation oil companies and the government will buy dollars to take advantage of the currency’s gain to a two-month high.

Man Infraconstruction Rises as Much as 49% in Its Trading Debut in Mumbai Man Infraconstruction Ltd., an Indian construction company, surged as much as 49 percent in its trading debut in Mumbai after demand exceeded the stock on offer by 62.5 times during the initial share sale. The company raised 1.42 billion rupees ($31.2 million) selling 5.63 million shares at 252 rupees apiece last month. The shares rose 44 percent to 363 rupees as of 2:54 p.m.

Pakistan's Inflation Slows in February, Giving Room to Cut Interest Rates Pakistan’s inflation slowed in February for the first time in four months, giving the central bank room to cut interest rates and support economic growth.

General News

Putin Visits India as Russia Competes With U.S. for Arms, Nuclear Deals Russian Prime Minister Vladimir Putin arrives in New Delhi tonight to fend off competition from the U.S. and Europe to supply arms and nuclear energy to India.

Greeks Brace for Protests, National Strike Over Papandreou's Budget Cuts Greece’s hospitals, airports and schools were shut today as unions stage the second general strike this year to protest Prime Minister George Papandreou’s latest budget cuts to curb the European Union’s biggest deficit.

Red-Coral Rescue Plans Endanger Italian Jewelry Makers of Torre del Greco The people of Torre del Greco, 10 miles south of Naples, have lived off the red corals found in the Mediterranean Sea for more than two millennia. A proposal to list the species as endangered may push the seaside town’s $217 million-a-year coral industry into extinction.



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