Reliance Said to Have No Plans to Increase $14.5 Billion Bid For Lyondell Reliance Industries Ltd. has no
plans to increase its bid for bankrupt LyondellBasell Industries
AF after creditors rejected a $14.5 billion offer, two people
briefed on the matter said.
Standard Chartered to Raise $750 Million in India as Profit Reaches Record Standard Chartered Plc, the British
bank that makes more than 90 percent of its earnings in Asia,
will raise as much as $750 million by selling its stock in India
as the lender posted a record profit for 2009.
Sensex Index Gains for Third Day as Nomura Raises GDP Forecast; DLF Climbs India’s benchmark stock index
advanced for a third day after Nomura Holdings Inc. raised the
nation’s economic growth forecast and a report showed services
grew at the fastest pace in more than a year.
Sugar Prices in India Drop to Two-Month Low on Rising Domestic Production Sugar prices in India, the world’s
biggest user, fell to the lowest in more than two months on
speculation rising domestic production may ease a shortage.
Mumbai Fails to Lure Bidders for Real Estate in First Sale in 1 1/2 Years Mumbai failed to lure any bidders in
the first sale of land by the government in at least 1 1/2 years
after the city authorities maintained rates at 2008 levels even
as rents in the area dropped by more than a third.
ARSS Infrastructure, Builder of Roads, Bridges, Surges 64% in Mumbai Debut ARSS Infrastructure Projects Ltd.,
an Indian builder of roads and bridges, surged 64 percent in its
trading debut in Mumbai today.
Reliance Industries Shares Extend Gains After LyondellBasell Rejects Bid Reliance Industries Ltd. shares
extended gains in Mumbai trading after the board of bankrupt
LyondellBasell Industries AF was said to have rejected a $14.5
billion bid from the Indian oil refiner and explorer.
Bajaj Auto Says Small Car Project With Renault, Nissan Motor on `Schedule' Bajaj Auto Ltd. said its small car
project with Renault SA and Nissan Motor Co. is “proceeding as
planned and to schedule,” according to an e-mailed statement
today.
Ranbaxy Falls in Mumbai After U.S. FDA Rejects Application to Sell Drug Ranbaxy Laboratories Ltd. fell as
much as 6.4 percent after the U.S. Food and Drug Administration
rejected the Indian drugmaker’s application for selling the
generic version of Flomax to treat enlarged prostate glands.
U.S. Service Industries Grow at Fastest Pace Since October 2007, ISM Says Service industries in the U.S.
accelerated in February more than anticipated, indicating the
economic expansion may soon create jobs following the worst
employment slump in the post-World War II era.
Stocks, Commodities Advance on Greek Deficit Cuts, U.S. Employment Report Stocks and commodities rose as
reports showing improvement in the U.S. job market and service
industries bolstered investor optimism and Greece announced
plans to reduce Europe’s biggest deficit. Treasuries fell and
the Dollar Index headed for its biggest drop in three months.
Fed's Fisher Calls for Accord to Break Up `Too Big to Fail' Finance Firms Federal Reserve Bank of Dallas
President Richard Fisher called for an international pact to
break up banks whose collapse would threaten the financial
system, a position that goes beyond other Fed officials.
Greece Passes $6.6 Billion More Deficit Cuts to Avert Fiscal `Catastrophe' Greek Prime Minister George
Papandreou announced 4.8 billion euros ($6.6 billion) of
additional deficit cuts as he tries to convince European allies
and investors he can tame the region’s biggest budget gap.
GM Vice Chairman Bob Lutz Said to Plan May Retirement From U.S. Automaker General Motors Co. Vice Chairman Bob
Lutz will retire May 1, two people with direct knowledge of the
plan said.
End of TALF Spawns $7 Billion ABS Sales Led by CIT, Sallie: Credit Markets CIT Group Inc., the commercial
finance company that emerged from bankruptcy, and SLM Corp., the
student lender, are leading the most asset-backed bond sales in
six months under an expiring U.S. program that helped unlock
credit markets.
Pfizer, Medivation's Dimebon Fails to Help Alzheimer's Patients in Study Pfizer Inc. and Medivation Inc. said
their experimental Dimebon drug for Alzheimer’s disease failed
to benefit patients in an advanced study, sending Medivation
shares plunging.
source :Bloomberg
