India & Pakistan
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.
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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