India & Pakistan
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.
India's Stalled Arms-Buying System Leaves Its Military Outgunned by China India, which has tripled its
defense spending in a race against China’s military buildup, is
having trouble converting the funding into weapons and equipment
its military says are urgently needed.
Greeks Brace for Protests, National Strike Over Papandreou's Budget Cuts Greek hospitals, airports and
schools were shut and police scuffled with protesters as unions
staged the second general strike this year against government
budget cuts to curb the European Union’s biggest deficit.
Red-Coral Rescue Plans Endanger Italian Jewelry Makers of Torre del Greco The people of Torre del Greco, 10
miles south of Naples, have lived off the red corals found in
the Mediterranean Sea for more than two millennia. A proposal to
list the species as endangered may push the seaside town’s $217
million-a-year coral industry into extinction.
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