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Wednesday, December 13, 2006

NEWS ROUND UP


Spicejet plans to raise US$118.5mn through a preferential allotment of equity shares to a clutch of foreign and domestic investors. The potential investors include Tata Group companies, Texas Pacific Group Ventures, Istithmar PJSC and Goldman Sachs amongst others, Spcejet has said.

Jet Airways would kick off flights to the US next year, as it aims to boost overseas revenues to 50% by 2009. International operations account for 20% of Jet Airways' turnover currently.

Grasim is reportedly planning to acquire a majority stake in Austrian cellulose-fibre maker Lenzing AG.

Deutsche Bank would invest an additional Rs 11.25bn (about US$250mn) in its Indian operations to cash in on the booming financial services business in Asia's fourth-largest economy.

US antitrust authorities have approved a proposal by Tata Steel Ltd. to acquire the Anglo-Dutch steel major.

The index of Industrial Production (IIP) grew by just 6.2% in October as against 9.8% in the same month last year, the Government said on Tuesday. In September, the IIP had expanded by 11.4%. Manufacturing growth declined to 6% in October from 10.9% in the corresponding month a year earlier.

ANG Auto Ltd has entered into a definitive agreement with Carl Stover to form joint venture companies in United States and India.

Mid-Day Multimedia Ltd. and Bennett, Coleman & Co. Ltd. have announced a business co-operation partnership to share their printing and distribution network.

The Nasdaq Stock Market has formally launched its 2.7bn pound (US$5.3bn) hostile bid for the London Stock Exchange Group Plc. (LSE) after Europe's largest exchange spurned a friendly offer three weeks ago.