1. India eyes Israel pipeline deal. To maintain energy security, India looks to tap Central Asian crude oil via Mediterranean – Red Sea route. The pipeline will also open an easier maritime door for oil from Algeria and Libya.
2. Ranbaxy eyes US$1.5billion in revenue during 2008-14, from an agreement reached with pharma major AstraZeneca over the world’s largest ulcer drug Nexim.
3. Infosys Technologies showed 21% higher overall growth in spite of the US slowdown. The company declared a total dividend of Rs.33.25 per share for fiscal 2008 (665% on par value).
4. The technology stocks rallied smartly to lift the BSE sensex by 346 points to close at 16,154, its highest closing in two weeks. Ranbaxy was the top gainer. In the bullion market, gold closed at Rs.12,080/10gm and silver at Rs.23,770/kg.
5. Oil price rises to record US$113 a barrel in New York.
6. Foreign fund house Morgan Stanley has increased its stake in Reliance Energy to over 5%.
7. India is leading the globalization of medical services. There is marked rise of medical tourism in India.
8. Delta Airlines agreed to buy Northwest Airlines in a US$3.63billion stock deal.
9. Mumbai witnessed the world’s highest (94.4%) increase in rentals of industrial space in 2007.
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