Bank of America Hires Kaku Nakhate From JPMorgan Chase to Head Indian Unit Bank of America Merrill Lynch hired
Kaku Nakhate, vice chairman of JPMorgan Chase & Co.’s Indian
unit, to replace Kevan Watts as head of operations in the South
Asian nation.
Russia's Alrosa to Sign $490 Million Contracts to Supply Diamonds to India ZAO Alrosa, the world’s largest
diamond company, will sign contracts to supply $490 million of
the gems to India in the next three years as it seeks to double
sales to the country.
Satyam Computer's Ramalinga Raju Applies for Bail to India's Supreme Court Ramalinga Raju, who resigned as
chairman of Satyam Computer Services Ltd. after saying he
overstated the company’s assets by $1 billion, applied to
India’s Supreme Court for bail today.
Billionaire Malvinder Singh's Fortis to Buy TPG's 23.9% Stake in Parkway Fortis Healthcare Ltd., India’s
most valuable hospital chain, agreed to pay S$959.4 million
($686 million) to buy a stake in Parkway Holdings Ltd.,
enabling it to expand into Southeast Asia.
Domino's Pizza Expects India to Be Its Fifth-Largest Market in Three Years Domino’s Pizza Inc., the second-
largest U.S. pizza maker, expects India to be among the
company’s five largest markets in the next three years as
business in the South Asian nation expands 42 percent annually.
Karnataka Power May Build LNG Terminal at Karwar Port to Supply New Plant Karnataka Power Corp., a state-
owned utility in south India, may build a 2.5 million metric
ton-a-year liquefied natural gas import terminal to help fuel a
new plant in Asia’s third-biggest energy consumer.
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 rose to a seven-week
high as optimism economic expansion will spur earnings growth
outweighed concern policy makers will withdraw liquidity to
contain inflation.
Gokarn Says India's Government Borrowing Program Not a `Huge' Challenge India’s central bank doesn’t
expect managing next year’s record government borrowings to be
a “huge” challenge, Deputy Governor Subir Gokarn said.
Sugar Output Surge in India to Cut Mills' Profits, Centrum Broking Says Sugar output in India, the world’s
biggest importer, may surge 60 percent in the next two years on
increased planting, depressing earnings at the country’s sugar
makers, Centrum Broking Pvt. said.
Dodd to Offer Financial-Rules Bill in Sign Talks With Republicans Failing Senate Banking Committee Chairman
Christopher Dodd said he will release his version of legislation
to overhaul financial rules, signaling that talks on a
compromise with Republican Bob Corker have collapsed.
Most U.S. Stocks Fall on China Inflation; Banks, Technology Companies Gain Most U.S. stocks fell as higher-
than-estimated inflation in China spurred speculation the nation
will be forced to raise interest rates while technology
companies and banks rallied.
Goldman Sachs Internal Hedge Fund Head Flamand Said Leaving to Start Firm Pierre-Henri Flamand, the head of
Goldman Sachs Group Inc.’s largest internal hedge fund, is
retiring from the world’s most profitable securities firm to
start a hedge fund, according to three people with knowledge of
his plans.
Trade Deficit in U.S. Unexpectedly Shrinks as Oil, Automobile Imports Drop The trade deficit in the U.S.
unexpectedly narrowed in January as imports fell for the first
time in five months, indicating demand is cooling following the
fastest pace of growth in six years.
Foreclosures in U.S. Rise at Slowest Pace in Four Years on Modifications U.S. foreclosure filings rose at
the slowest pace in four years in February as the government
sought to reduce record bank seizures, RealtyTrac Inc. said.
Detroit Sells $250 Million of Its Debt Without Recent Disclosure Filings Detroit, the largest U.S. city
whose debt is rated below investment grade, will ask investors
today to buy $250 million of its debt without having filed
annual financial reports on time for five years.
Private-Equity Acquisitions Set to `Thrive,' Clayton Dubilier's Gogel Says Acquisitions by private equity
firms may increase this year as capital markets improve and
companies dispose of assets, said Donald Gogel, chief executive
officer of private-equity firm Clayton Dubilier & Rice LLC.
source: Bloomberg
