Bharti's Mittal Says $9 Billion Price For Zain Africa `Not Over the Top' Sunil Mittal, the billionaire
chairman of Bharti Airtel Ltd., said the price India’s largest
mobile-phone company is offering for most of the African assets
of Kuwait’s Zain is “not over the top.”
Sensitive Index Climbs on Optimism India's Government Will Boost Spending Indian stocks rose for the second
day after comments by Reserve Bank of India Governor Duvvuri
Subbarao increased optimism the government will announce plans
to spur expansion in its annual budget next week.
Lyondell's Debt Deal Offers `Clear Alternative' to Reliance Bid, Veda Says Lyondell Chemical Co.’s settlement
with its unsecured creditors and lenders has weakened Reliance
Industries Ltd.’s bid for bankrupt parent LyondellBasell
Industries AF, investors said.
Sugar Output in India's Biggest Grower May Gain 3.7% on Yield, Group Says Sugar production in Uttar Pradesh,
India’s biggest grower, may gain this year because of higher
cane yields, helping ease a global deficit that drove prices to
near a three-decade high, a producers’ group said.
Areva T&D, BGR, Godrej Industries Surge in Mumbai on Derivatives Approval Areva T&D India Ltd., BGR Energy
Systems Ltd., Godrej Industries Ltd. and eight others advanced
in Mumbai trading after India’s National Stock Exchange approved
trading in their derivatives.
Bharti Airtel Offers $9 Billion for Zain's African Mobile-Phone Business Bharti Airtel Ltd., South Asia’s
biggest phone company, may pay $9 billion to buy the African
mobile-phone operations of Kuwait’s Zain, the New Delhi-based
company said in a statement yesterday.
Rupee Appreciates to Strongest Level in Two Weeks as Indian Stocks Advance India’s rupee appreciated for a
sixth day, the longest winning streak in almost nine months, as
stock gains spurred optimism overseas investors will boost
holdings of local assets to benefit from economic expansion.
Morgan Stanley Says India's Profits Outweigh Risks From Faster Inflation Investors should buy Indian stocks
amid any drops as earnings growth counters the impact of
accelerating inflation and a possible decline in global risk
appetite, Morgan Stanley said.
United Bank to Raise $72 Million in First State-Lender IPO Since July 2007 United Bank of India plans to raise
as much as 3.3 billion rupees ($72 million) in the first initial
public offer by a state-owned lender since Central Bank of
India’s share sale in July 2007.
Stocks, Dollar Advance on U.S. Earnings, Economic Data; Commodities Slide Stocks and the dollar rose as
higher-than-estimated earnings and U.S. economic data signaled
the global recovery is gaining momentum. Treasuries fell, with
two-year notes declining for the first time in a week.
U.S. Factory Output, Home Starts Exceed Forecasts in Sign Recovery Intact Industrial production in the U.S.
rose more than anticipated in January as factories churned out
more consumer goods and business equipment, leading the recovery
of the world’s biggest economy.
Bernanke to Testify Before House Panel Feb. 24 on Fed's Policy, Aide Says Federal Reserve Chairman Ben S.
Bernanke is tentatively scheduled to testify Feb. 24 at the
House Financial Services Committee as part of the central bank’s
semiannual monetary-policy report, said a House aide with
knowledge of the schedule.
BNP Paribas Pays Its Investment Bankers Less Than Goldman Sachs, Barclays BNP Paribas SA, Europe’s largest
bank, set aside 3.38 billion euros ($4.64 billion) for
compensation and related charges at its investment-banking
division last year, a smaller portion of revenue than Goldman
Sachs Group Inc. and Barclays Plc.
Walgreen to Acquire New York's Duane Reade From Oak Hill for $618 Million Walgreen Co., the biggest U.S.
drugstore chain, agreed to buy Duane Reade Holdings Inc. from
affiliates of Oak Hill Capital Partners for $618 million to
expand in metropolitan New York.
Dubai World Said to Prepare $22 Billion Debt-Restructuring Plan for March Dubai World will present a proposal
to creditors in March to restructure about $22 billion of debt
after its advisers complete valuing the assets of the state-
owned company, a person close to the Dubai government said.
Paulson Buys, Buffett Sells as Billionaires Duel Over SunTrust Banks Stock John Paulson, who amassed a fortune
by betting against U.S. mortgage markets, became the biggest
stakeholder in SunTrust Banks Inc. while fellow billionaire
Warren Buffett was cutting his stake in the Atlanta lender.
source: Bloomberg
