The donation of £200 million to India to help ensure all under 10s are in full-time education is a feature of Chancellor Brown's Budget that was not widely publicised, but supports the fact that India will become increasingly critical in filling the UK skills gap.
There is set to be a great need for skills in Britain, both in the manufacturing and services sectors, as the economy accelerates past what the workforce can support. In a decade from now, those children that are helped by UK investment will be paying back the British economy many times over.
Brown's decision to put money aside to invest in a country's future - even though it one that is many thousands of miles away from his own - is an indicator of how important it will be to source additional skills.
In order to remain competitive, Britain will rely on workers from overseas. India, it seems, is set to play a bigger role in the maintenance of Britain as a global leader than even we could have predicted.
Sunday, March 25, 2007
Response to the Budget 2007: How India can fill the UK skills gap
It's a positive move by the Government to invest in the UK workforce. The UK is facing a skills crisis, and unless we address the issue directly, the British economy will not sustain its recent growth. It will be prudent for British companies to think of filling jobs by sourcing talent on a global basis - much the same as they look at business opportunities worldwide.
Large organisations will be well advised to acquire or invest in Indian companies with talented employees to bridge the UK skills shortage. A balanced approach to outsourcing work is the healthiest option and one that will complement the UK economy and create new jobs in the UK workforce.
India is already the third largest investor in the UK, after the US and Japan, that generated 1,449 new jobs in the year to March 2006, according to the UK Inward Investment Report 2005-06. Indian companies invested around $2 billion in 76 projects during that period. Indian companies also accounted for 30% of all foreign investment in London last year creating 400 new jobs, making it the second largest overseas investor in the city after the US,
according to Think London.
Companies have already seen the value in Indian employees. Rather than outsourcing jobs, many businesses are instead taking the acquisition route and buying skills overseas. With a GDP growth rate of 9 per cent and 70 per cent of 1.1 billion people still under 35 years of age, tapping India's domestic market is also critical for the future growth of UK corporations."
Investing or acquiring in India helps solves two problems at once: address the skills crisis and provide an engine of future growth in an increasingly globally competitive marketplace.
Large organisations will be well advised to acquire or invest in Indian companies with talented employees to bridge the UK skills shortage. A balanced approach to outsourcing work is the healthiest option and one that will complement the UK economy and create new jobs in the UK workforce.
India is already the third largest investor in the UK, after the US and Japan, that generated 1,449 new jobs in the year to March 2006, according to the UK Inward Investment Report 2005-06. Indian companies invested around $2 billion in 76 projects during that period. Indian companies also accounted for 30% of all foreign investment in London last year creating 400 new jobs, making it the second largest overseas investor in the city after the US,
according to Think London.
Companies have already seen the value in Indian employees. Rather than outsourcing jobs, many businesses are instead taking the acquisition route and buying skills overseas. With a GDP growth rate of 9 per cent and 70 per cent of 1.1 billion people still under 35 years of age, tapping India's domestic market is also critical for the future growth of UK corporations."
Investing or acquiring in India helps solves two problems at once: address the skills crisis and provide an engine of future growth in an increasingly globally competitive marketplace.
Thursday, March 22, 2007
Massive Merck bids consolidate Indian growth
The world-class status of acquisitive Indian companies has been further underlined this week with battle breaking out in the pharmaceutical sector.
India's Cipla Ltd. and Torrent Pharmaceuticals are among a host of companies set to bid for Germany's Merck KGaA, a generic drug-making giant valued at around $7 billion.
If the deal for Merck's drug business goes to an Idian entity, it will be the biggest acquisition in the history of Indian pharmaceuticals, and more than three times the value of M&A deals in the sector in 2006.The pharmaceutical sector will build on its vast previous expansion – deals totalling $2.5 billion in 2006 compared with just $364 million the previous year.
But this week's developments will not only have an impact on India's budding pharmaceutical market, but on Indian business growth in general. The acquisition of Merck's generic drug business would propel the Indian company into the global league. This is another example of how Indian business opportunities have been nurtured through first-class skills and low-cost production. Domestic production costs in India are a staggering 50% less than in developed countries.
This deal is against the backdrop of the successful acquisition of Corus Group by Tata Steel; Hindalco Industries' acquisition of Novelis; and the ongoing bidding war for German wind turbine company REpower Systems between Suzlon Energy and French nuclear-reactor maker Areva.
As one of the last areas of uncharted territory for Indian M&A, a large-scale pharmaceutical acquisition seems to be the next logical step.
India's Cipla Ltd. and Torrent Pharmaceuticals are among a host of companies set to bid for Germany's Merck KGaA, a generic drug-making giant valued at around $7 billion.
If the deal for Merck's drug business goes to an Idian entity, it will be the biggest acquisition in the history of Indian pharmaceuticals, and more than three times the value of M&A deals in the sector in 2006.The pharmaceutical sector will build on its vast previous expansion – deals totalling $2.5 billion in 2006 compared with just $364 million the previous year.
But this week's developments will not only have an impact on India's budding pharmaceutical market, but on Indian business growth in general. The acquisition of Merck's generic drug business would propel the Indian company into the global league. This is another example of how Indian business opportunities have been nurtured through first-class skills and low-cost production. Domestic production costs in India are a staggering 50% less than in developed countries.
This deal is against the backdrop of the successful acquisition of Corus Group by Tata Steel; Hindalco Industries' acquisition of Novelis; and the ongoing bidding war for German wind turbine company REpower Systems between Suzlon Energy and French nuclear-reactor maker Areva.
As one of the last areas of uncharted territory for Indian M&A, a large-scale pharmaceutical acquisition seems to be the next logical step.
Wednesday, March 21, 2007
Links for 21/3/07
Capgemini says 40 per cent of its staff will be in India
Financial Times
Capgemini will have more employees in India than in any other country by
2010 in the latest sign of India‚s emergence as the epicentre of the global
information technology industry.
Accounting curbs 'hold back India's economy'
Financial Times
The development of India's economy is being held back by protectionist
restrictions on the accounting profession, according to one of the
industry's most senior global figures.
Ricardo and Caepro sign Indian auto software deal
Computer Business Review
Ricardo UK and Caepro Technologies Pvt have entered into an agreement that
will enable the Indian automotive industry to gain access to advanced
powertrain computer-aided engineering software together with training and
support services.
KPMG calls for reform in India
Financial Times
India‚s economy is being held back by protectionist restrictions on the
accounting profession, according to one of the industry‚s most senior global
figures.
India units help HTIL report its first ever net profit
Financial Times
Hutchison Telecommunications International has reported its first ever net
profit, in what will be the group‚s last set of results to include a
full-year contribution from its coveted India operations.
Honda revs up motorcycle capacity
Financial Times
Honda Motor‚s wholly- owned Indian motorcycle manufacturing unit is planning
to invest Rs3bn ($68.4m) to upgrade capacity as global manufacturers try to
keep pace with soaring demand in the country.
Private equity finds an object of envy
Financial Times
Some companies call in the consultants when they need a new name.
Flextronics Software Systems, a company that develops software for the
telecoms industry, decided instead to tap its employees for ideas.
A place for placements
Financial Times
The alliance between the New York and Tokyo stock exchanges announced in
January came against a backdrop of consolidation and collaboration among
stock markets worldwide.
BM close to securing $600-$700 million deal from India‚s Idea Cellular
ABC Money
IBM is close to securing a 10-year contract worth 600-700 mln usd from
India‚s Idea Cellular to consolidate and manage its IT infrastructure and
applications, reported Economic Times, citing sources close to the deal.
Michael Dell slams India‚s PC taxes
The Register
Dell Computers wants to expand its PC market in India, but insists that the
country's high tariffs on PCs must go.
India's Essar ties up with Virgin Group for mobile retail chain
Hemscott
India‚s Essar Telecom Retail, a unit of the Essar group, has tied up with
Virgin Group for brand licensing, technical and consultancy services for its
mobile phone retail chain, The Hindu Business Line reported.
Open source computing desktop in Indian languages
Monsters and Critics
Bigger language groups are especially better off, like Assamese, Gujarati,
Hindi, Malayalam, Marathi, Oriya, Punjabi, Tamil and Telugu, according to an
article in the New Delhi-based trade magazine Linux For You.
Financial Times
Capgemini will have more employees in India than in any other country by
2010 in the latest sign of India‚s emergence as the epicentre of the global
information technology industry.
Accounting curbs 'hold back India's economy'
Financial Times
The development of India's economy is being held back by protectionist
restrictions on the accounting profession, according to one of the
industry's most senior global figures.
Ricardo and Caepro sign Indian auto software deal
Computer Business Review
Ricardo UK and Caepro Technologies Pvt have entered into an agreement that
will enable the Indian automotive industry to gain access to advanced
powertrain computer-aided engineering software together with training and
support services.
KPMG calls for reform in India
Financial Times
India‚s economy is being held back by protectionist restrictions on the
accounting profession, according to one of the industry‚s most senior global
figures.
India units help HTIL report its first ever net profit
Financial Times
Hutchison Telecommunications International has reported its first ever net
profit, in what will be the group‚s last set of results to include a
full-year contribution from its coveted India operations.
Honda revs up motorcycle capacity
Financial Times
Honda Motor‚s wholly- owned Indian motorcycle manufacturing unit is planning
to invest Rs3bn ($68.4m) to upgrade capacity as global manufacturers try to
keep pace with soaring demand in the country.
Private equity finds an object of envy
Financial Times
Some companies call in the consultants when they need a new name.
Flextronics Software Systems, a company that develops software for the
telecoms industry, decided instead to tap its employees for ideas.
A place for placements
Financial Times
The alliance between the New York and Tokyo stock exchanges announced in
January came against a backdrop of consolidation and collaboration among
stock markets worldwide.
BM close to securing $600-$700 million deal from India‚s Idea Cellular
ABC Money
IBM is close to securing a 10-year contract worth 600-700 mln usd from
India‚s Idea Cellular to consolidate and manage its IT infrastructure and
applications, reported Economic Times, citing sources close to the deal.
Michael Dell slams India‚s PC taxes
The Register
Dell Computers wants to expand its PC market in India, but insists that the
country's high tariffs on PCs must go.
India's Essar ties up with Virgin Group for mobile retail chain
Hemscott
India‚s Essar Telecom Retail, a unit of the Essar group, has tied up with
Virgin Group for brand licensing, technical and consultancy services for its
mobile phone retail chain, The Hindu Business Line reported.
Open source computing desktop in Indian languages
Monsters and Critics
Bigger language groups are especially better off, like Assamese, Gujarati,
Hindi, Malayalam, Marathi, Oriya, Punjabi, Tamil and Telugu, according to an
article in the New Delhi-based trade magazine Linux For You.
Tuesday, March 20, 2007
Link for 20/3/07
Eastern Europe competes for share of the IT outsourcing cake
Times Online
The rise and rise of Bangalore as the centre of outsourcing could be under threat from new challengers nearer to Europe’s commercial heart. Increasingly, companies are being attracted to workforces in countries such as Romania, which, a report suggests, have better language skills and a keener understanding of their clients than competitors further east.
India to ‘consult’ on zone policy
BBC Online
The Indian government has said it will "refine" its policy of buying up land for industrial development after recent violence over the controversial plan.
Indian stocks: Not cheap, but still attractive
Reuters
Indian stocks are anything by cheap after five years of gains, but they still look attractive thanks to healthy corporate earnings driven by robust economic growth second only to booming China in Asia.
India: Ricardo signs licensing agreement with Caepro Technologies
Automotive World
Ricardo Software has entered into a licensing agreement with Pune-based Caepro Technologies in order to provide advanced powertrain computer aided engineering (CAE) software products to OEMs in India.
India's Ranbaxy pulls out of bid for Merck's generic ops
ABC Money
India's Ranbaxy Laboratories Ltd has pulled out of the race to buy Merck KGaAs generic operations unit due to what it considers irrational valuation, sources close to Ranbaxy told AFX News.
Rabobank unit buys half of India's Canara Bank mutual fund arm
ABC Money
Robeco Groep NV, part of Rabobank Groep, will buy a 49 pct stake in India's Canbank Investment Management Services (CIMS), an arm of state-owned Canara Bank, for 1.15 bln rupees, the Economic Times reported.
RPT Trinity Capital hikes stake in India's Fortis Healthcare to 4 pct
Hemscott
Trinity Capital has hiked its stake in India's Fortis Healthcare Ltd (FHL) to 4 pct from 1 pct with the acquisition of an additional 6 mln shares for 870 mln rupees in its second private placement agreement with the company, Business Standard reported, citing FHL.
India's Reliance, Italy's Eni in talks for ETimor oil block stake swap
ABC Money
Reliance Industries Ltd is in talks with Italy's Eni SpA for a stake swap in oil exploration blocks in East Timor, the Economic Times reported, citing a Reliance official.
Times Online
The rise and rise of Bangalore as the centre of outsourcing could be under threat from new challengers nearer to Europe’s commercial heart. Increasingly, companies are being attracted to workforces in countries such as Romania, which, a report suggests, have better language skills and a keener understanding of their clients than competitors further east.
India to ‘consult’ on zone policy
BBC Online
The Indian government has said it will "refine" its policy of buying up land for industrial development after recent violence over the controversial plan.
Indian stocks: Not cheap, but still attractive
Reuters
Indian stocks are anything by cheap after five years of gains, but they still look attractive thanks to healthy corporate earnings driven by robust economic growth second only to booming China in Asia.
India: Ricardo signs licensing agreement with Caepro Technologies
Automotive World
Ricardo Software has entered into a licensing agreement with Pune-based Caepro Technologies in order to provide advanced powertrain computer aided engineering (CAE) software products to OEMs in India.
India's Ranbaxy pulls out of bid for Merck's generic ops
ABC Money
India's Ranbaxy Laboratories Ltd has pulled out of the race to buy Merck KGaAs generic operations unit due to what it considers irrational valuation, sources close to Ranbaxy told AFX News.
Rabobank unit buys half of India's Canara Bank mutual fund arm
ABC Money
Robeco Groep NV, part of Rabobank Groep, will buy a 49 pct stake in India's Canbank Investment Management Services (CIMS), an arm of state-owned Canara Bank, for 1.15 bln rupees, the Economic Times reported.
RPT Trinity Capital hikes stake in India's Fortis Healthcare to 4 pct
Hemscott
Trinity Capital has hiked its stake in India's Fortis Healthcare Ltd (FHL) to 4 pct from 1 pct with the acquisition of an additional 6 mln shares for 870 mln rupees in its second private placement agreement with the company, Business Standard reported, citing FHL.
India's Reliance, Italy's Eni in talks for ETimor oil block stake swap
ABC Money
Reliance Industries Ltd is in talks with Italy's Eni SpA for a stake swap in oil exploration blocks in East Timor, the Economic Times reported, citing a Reliance official.
Monday, March 19, 2007
Links for 19/3/07
Ten held over India police firing
BBC Online
Investigators in India have arrested 10 people in connection with police violence on Wednesday in West Bengal.
Sainsbury war looms as suitors test waters
Financial Times
Prospects of a full-scale bidding war for J Sainsbury grew yesterday as the supermarket group attracted fresh predators and the original CVC-led consortium met pension trustees.
India Media Fund to float on AIM in a fortnight
Hemscott
India Media Fund, which plans to offer international investors controlled access to India's media market, will float on the AIM in a fortnight, Indian newspaper The Hindu Business Line reported quoting the Press Trust of India.
Land battles threaten POSCO’s Indian steel project
Reuters
A tense stand-off with farmers unwilling to give up their land threatens India's largest-ever foreign investment project, a $12 billion steel plant planned by South Korea's POSCO.
DCS market is thriving in Asia
Processing talk
Strong economic activity in Asia is spurring the growth of manufacturing, which in turn is propelling the growth of the automation market in the region, creating a thriving market for DCS systems.
France’s Danone, India's Wadia Group likely to dismantle Indian JVs
ABC Money
Groupe Danone and India's Wadia Group may soon decide to part ways amicably resulting in the dismantling of their two Indian joint ventures, Britannia Industries and Wadia BSN, the Indian daily Business Standard reported citing a source familiar with the negotiations.
Pfizer India Sells Property for $63 Million
Reuters
Pfizer Ltd. (PFIZ.BO: Quote, Profile , Research), the Indian unit of drug maker Pfizer Inc. (PFE.N: Quote, Profile , Research), said late on Saturday it had sold a property in north India for 2.78 billion rupees ($63 million).
China, India rise a spur for ASEAN members to grow closer
Monsters and Critics
The rise of China and India has presented ASEAN with an 'overriding interest' in cooperating and growing closer, Singapore Prime Minister Lee Hsien Loong said in remarks published on Sunday.
India beats UK at capital game
Telegraph
Indian investment into the UK is poised to outstrip British investment in the sub-continent, reversing the flow of capital for the first time since the days of the Raj.
BBC Online
Investigators in India have arrested 10 people in connection with police violence on Wednesday in West Bengal.
Sainsbury war looms as suitors test waters
Financial Times
Prospects of a full-scale bidding war for J Sainsbury grew yesterday as the supermarket group attracted fresh predators and the original CVC-led consortium met pension trustees.
India Media Fund to float on AIM in a fortnight
Hemscott
India Media Fund, which plans to offer international investors controlled access to India's media market, will float on the AIM in a fortnight, Indian newspaper The Hindu Business Line reported quoting the Press Trust of India.
Land battles threaten POSCO’s Indian steel project
Reuters
A tense stand-off with farmers unwilling to give up their land threatens India's largest-ever foreign investment project, a $12 billion steel plant planned by South Korea's POSCO.
DCS market is thriving in Asia
Processing talk
Strong economic activity in Asia is spurring the growth of manufacturing, which in turn is propelling the growth of the automation market in the region, creating a thriving market for DCS systems.
France’s Danone, India's Wadia Group likely to dismantle Indian JVs
ABC Money
Groupe Danone and India's Wadia Group may soon decide to part ways amicably resulting in the dismantling of their two Indian joint ventures, Britannia Industries and Wadia BSN, the Indian daily Business Standard reported citing a source familiar with the negotiations.
Pfizer India Sells Property for $63 Million
Reuters
Pfizer Ltd. (PFIZ.BO: Quote, Profile , Research), the Indian unit of drug maker Pfizer Inc. (PFE.N: Quote, Profile , Research), said late on Saturday it had sold a property in north India for 2.78 billion rupees ($63 million).
China, India rise a spur for ASEAN members to grow closer
Monsters and Critics
The rise of China and India has presented ASEAN with an 'overriding interest' in cooperating and growing closer, Singapore Prime Minister Lee Hsien Loong said in remarks published on Sunday.
India beats UK at capital game
Telegraph
Indian investment into the UK is poised to outstrip British investment in the sub-continent, reversing the flow of capital for the first time since the days of the Raj.
Sunday, March 18, 2007
Web voice means business as Microsoft buys Tellme and Cisco acquires WebEx
Unified communications, the combination of enterprise voice and data that is currently making sweeping changes to the way businesses operate, has seen two significant moves this week.
Firstly, Microsoft announced its acquisition of Tellme Networks on Wednesday for a reported $800 million. The voice recognition specialist powers voice-enabled directory enquiries and phone services for a customer roster including Cingular, FedEx, Verizon, Merrill Lynch and Dominos (and handles upwards of 100 million voice searches per month).
Not to be outdone, Cisco announced its plans to purchase on-demand collaboration company WebEx for $3.2 billion. As Cisco ramps up its unified communications roadmap, launched last year just before Microsoft did the same, WebEx will bring a ready-made fan base and suite of hosted applications (such as calendar, email and collaborative documents) to the Cisco catalogue.
Both of these deals are indicators that there is life in the traditional enterprise technology vendors yet. Just as Google, eBay and Yahoo! stole the headlines in the last couple of years through high profile and (even higher cost) acquisitions – of YouTube, Skype and Flickr respectively, to name just three that made it to their extensive shopping lists – MS and Cisco are back in acquisition mode.
But while these doyennes of ‘web 2.0’ have been building their product stacks from a consumer angle with a view to selling to the corporations once their product lines were complete, MS and Cisco have been positioning themselves to make strategic, considered and selective deals.
After all – if you were the CTO of a multinational, multi-billion dollar enterprise and were tasked with choosing a unified communications platform, you might think twice before walking into your CEO’s office and suggesting running it on Google technology. The perception of Google being a corporate tool just isn’t there yet. For Microsoft and Cisco, that isn’t a problem.
The only problem they have got – as unified communications start to top the board-level agenda – is each other. And this is just the start.
However Microsoft and Cisco decide to fight each other in the race to corner the market for collaboration technology, it seems that, after a period of relative hibernation, the giants have at last woken up. And they’re hungry.
Technorati Tags:
Microsoft, Tellme, Cisco, WebEx
Firstly, Microsoft announced its acquisition of Tellme Networks on Wednesday for a reported $800 million. The voice recognition specialist powers voice-enabled directory enquiries and phone services for a customer roster including Cingular, FedEx, Verizon, Merrill Lynch and Dominos (and handles upwards of 100 million voice searches per month).
Not to be outdone, Cisco announced its plans to purchase on-demand collaboration company WebEx for $3.2 billion. As Cisco ramps up its unified communications roadmap, launched last year just before Microsoft did the same, WebEx will bring a ready-made fan base and suite of hosted applications (such as calendar, email and collaborative documents) to the Cisco catalogue.
Both of these deals are indicators that there is life in the traditional enterprise technology vendors yet. Just as Google, eBay and Yahoo! stole the headlines in the last couple of years through high profile and (even higher cost) acquisitions – of YouTube, Skype and Flickr respectively, to name just three that made it to their extensive shopping lists – MS and Cisco are back in acquisition mode.
But while these doyennes of ‘web 2.0’ have been building their product stacks from a consumer angle with a view to selling to the corporations once their product lines were complete, MS and Cisco have been positioning themselves to make strategic, considered and selective deals.
After all – if you were the CTO of a multinational, multi-billion dollar enterprise and were tasked with choosing a unified communications platform, you might think twice before walking into your CEO’s office and suggesting running it on Google technology. The perception of Google being a corporate tool just isn’t there yet. For Microsoft and Cisco, that isn’t a problem.
The only problem they have got – as unified communications start to top the board-level agenda – is each other. And this is just the start.
However Microsoft and Cisco decide to fight each other in the race to corner the market for collaboration technology, it seems that, after a period of relative hibernation, the giants have at last woken up. And they’re hungry.
Technorati Tags:
Microsoft, Tellme, Cisco, WebEx
Friday, March 16, 2007
Links for 16/3/07
This week in India
Retail Bulletin
James Durston, our correspondent in Delhi, brings you the last seven days' news from India's burgeoning retail industry
India pockets highest salary hikes in Asia-Pacific
Monsters and Critics
Salaries in India last year recorded double-digit growth for the fourth year running at 14.4 per cent, the highest in the Asia Pacific region, with HR consulting firm Hewitt Associates forecasting an average of 14.5 per cent wage hike in India in 2007, media reports said Friday.
India’s Reliance Industries to buy 59 pct in Dow Chemical spin-off ops
ABC Money
India's Reliance Industries is close to buying a 59 pct stake in a company to be spun off by Dow Chemical Co for 12 bln usd, reported the Times of India without citing any sources.
Essar to receive $415m to clear India deal
Financial Times
Essar is set to be paid $415m (£214.3m) under a settlement aimed at ending the threat of legal action hanging over Vodafone’s takeover of Hutchison Essar, India’s fourth largest mobile operator.
India’s Suzlon Energy likely to raise REpower bid to 1.7 bln usd
ABC Money
India's Suzlon Energy Ltd may revise its offer for Germany's REpower Systems AG to 1.7 bln usd following Areva's counter offer of 1.5 bln usd, the Economic Times reported, citing unnamed sources.
Retail Bulletin
James Durston, our correspondent in Delhi, brings you the last seven days' news from India's burgeoning retail industry
India pockets highest salary hikes in Asia-Pacific
Monsters and Critics
Salaries in India last year recorded double-digit growth for the fourth year running at 14.4 per cent, the highest in the Asia Pacific region, with HR consulting firm Hewitt Associates forecasting an average of 14.5 per cent wage hike in India in 2007, media reports said Friday.
India’s Reliance Industries to buy 59 pct in Dow Chemical spin-off ops
ABC Money
India's Reliance Industries is close to buying a 59 pct stake in a company to be spun off by Dow Chemical Co for 12 bln usd, reported the Times of India without citing any sources.
Essar to receive $415m to clear India deal
Financial Times
Essar is set to be paid $415m (£214.3m) under a settlement aimed at ending the threat of legal action hanging over Vodafone’s takeover of Hutchison Essar, India’s fourth largest mobile operator.
India’s Suzlon Energy likely to raise REpower bid to 1.7 bln usd
ABC Money
India's Suzlon Energy Ltd may revise its offer for Germany's REpower Systems AG to 1.7 bln usd following Areva's counter offer of 1.5 bln usd, the Economic Times reported, citing unnamed sources.
Thursday, March 15, 2007
Links for 15/3/07
Bulls not raging
Financial Times
India’s booming stock market has been one of the most obvious indicators of the rapid rise of the country’s economy over the past few years.
DuPont to set up biotech research centre in India
Biofuel Review
DuPont will locate its first plant biotechnology research centre outside the United States at the recently announced DuPont Knowledge Center, in Hyderabad, India.
India to become second largest economy of world by 2050
PR NewsWire
India will emerge as the 2nd largest economy throughout the world by the year 2050, ahead of US, said Goldman Sachs in a statement that Economics Times published on 24 January 2007 broadening the estimates of the prospects of India in its October ’03 research paper “BRIC’s report”.
India’s Reliance eyes Carrefour stake
Financial Times Alphaville
Reliance Industries is looking to buy a stake in France’s Carrefour in a move that would catapult India’s largest private sector group into the ranks of the world’s top retailers. Reliance was looking at the possibility of buying the 13 per cent stake held by the Halley family, Carrefour’s largest shareholder, although talks had not yet been initiated, according to a person familiar with the situation. The Halleys’ stake in Carrefour, the world’s second-largest retailer by sales, was worth nearly €5bn on Wednesday night. The family controls 20 per cent of the group’s voting rights thanks to a convention that allows longer-term investors to have a larger say in its affairs.
India’s ITC to bid for UK’s Patak’s brand
Reuters
India's ITC Ltd.'s foods unit is likely to bid for Britain's Patak's, valued at about 200 million pounds ($387 million), the Economic Times newspaper said on Thursday.
Australia urged to enlist India in security alliance
Monsters and Critics
The United States wants India to join with fellow democracies Australia and Japan in a security pact that would counter the growing military and economic might of China, news reports said Thursday.
Financial Times
India’s booming stock market has been one of the most obvious indicators of the rapid rise of the country’s economy over the past few years.
DuPont to set up biotech research centre in India
Biofuel Review
DuPont will locate its first plant biotechnology research centre outside the United States at the recently announced DuPont Knowledge Center, in Hyderabad, India.
India to become second largest economy of world by 2050
PR NewsWire
India will emerge as the 2nd largest economy throughout the world by the year 2050, ahead of US, said Goldman Sachs in a statement that Economics Times published on 24 January 2007 broadening the estimates of the prospects of India in its October ’03 research paper “BRIC’s report”.
India’s Reliance eyes Carrefour stake
Financial Times Alphaville
Reliance Industries is looking to buy a stake in France’s Carrefour in a move that would catapult India’s largest private sector group into the ranks of the world’s top retailers. Reliance was looking at the possibility of buying the 13 per cent stake held by the Halley family, Carrefour’s largest shareholder, although talks had not yet been initiated, according to a person familiar with the situation. The Halleys’ stake in Carrefour, the world’s second-largest retailer by sales, was worth nearly €5bn on Wednesday night. The family controls 20 per cent of the group’s voting rights thanks to a convention that allows longer-term investors to have a larger say in its affairs.
India’s ITC to bid for UK’s Patak’s brand
Reuters
India's ITC Ltd.'s foods unit is likely to bid for Britain's Patak's, valued at about 200 million pounds ($387 million), the Economic Times newspaper said on Thursday.
Australia urged to enlist India in security alliance
Monsters and Critics
The United States wants India to join with fellow democracies Australia and Japan in a security pact that would counter the growing military and economic might of China, news reports said Thursday.
Wednesday, March 14, 2007
Links for 14/3/07
Indian benchmark stock index tanks on global trends
Monsters and Critics, 14/3
India's 30-share sensitive Bombay Stock Exchange (BSE) index Sensex plunged by more than 400 points in early trade on Wednesday as funds sold heavily taking cues from weakening global markets.
Reliance Industries' ratings affirmed on news of IPCL merger
Hemscott, 14/3
Fitch Ratings has affirmed India's Reliance Industries Ltd's ratings following the company's announcement that it will merge Indian Petrochemicals Corporation Limited (IPCL) with itself.
RPT Mittal Steel in lead to buy Mitsui & Co's 51 per cent stake in Sesa Goa
Hemscott, 14/3
Mittal Steel is leading the race to buy Mitsui & Co's 51 pct stake in Indian iron ore producer Sesa Goa for 41 bln rupees (48 mln stg) or 2,050 rupees per share, Indian daily Hindustan Times reported, citing investment bankers close to the deal.
EDS to acquire Indian software testing company
Financial Director, 14/3
The acquisition is to accelerate EDS' existing global software testing, validation and verification services for enterprise clients.
U.S. nuclear deal won't power India's boom
Reuters, 14/3
Nuclear energy will remain a small part of India's power supply for the next 25 years even if the country seals a civil nuclear deal with the United States, a member of India's top policy making body said on Tuesday.
India leapfrogs the UK for Nokia
Silicon, 14/3
India has overtaken the UK in terms of mobile sales for the world's biggest handset manufacturer, Nokia.
Monsters and Critics, 14/3
India's 30-share sensitive Bombay Stock Exchange (BSE) index Sensex plunged by more than 400 points in early trade on Wednesday as funds sold heavily taking cues from weakening global markets.
Reliance Industries' ratings affirmed on news of IPCL merger
Hemscott, 14/3
Fitch Ratings has affirmed India's Reliance Industries Ltd's ratings following the company's announcement that it will merge Indian Petrochemicals Corporation Limited (IPCL) with itself.
RPT Mittal Steel in lead to buy Mitsui & Co's 51 per cent stake in Sesa Goa
Hemscott, 14/3
Mittal Steel is leading the race to buy Mitsui & Co's 51 pct stake in Indian iron ore producer Sesa Goa for 41 bln rupees (48 mln stg) or 2,050 rupees per share, Indian daily Hindustan Times reported, citing investment bankers close to the deal.
EDS to acquire Indian software testing company
Financial Director, 14/3
The acquisition is to accelerate EDS' existing global software testing, validation and verification services for enterprise clients.
U.S. nuclear deal won't power India's boom
Reuters, 14/3
Nuclear energy will remain a small part of India's power supply for the next 25 years even if the country seals a civil nuclear deal with the United States, a member of India's top policy making body said on Tuesday.
India leapfrogs the UK for Nokia
Silicon, 14/3
India has overtaken the UK in terms of mobile sales for the world's biggest handset manufacturer, Nokia.
Subscribe to:
Posts (Atom)