LyondellBasell on Wednesday said it has won the US bankruptcy court's approval for reaching a settlement with its creditors, paving the way for the chemical giant to emerge from bankruptcy.
In its multi-billion-dollar acquisition pursuit for LyondellBasell, the Mukesh Ambani-led Reliance Industries engaged 'hundreds' of advisors and personnel to access thousands of documents related to the proposed deal, which was rejected by the Luxembourg-based bankrupt chemicals major.
The Nifty, retained the 5,000 level and ended at 5,088 -- up 71 points. Exports in January grew as services and manufacturing activity jumped.
After being on the defensive for the last two years, global bankers are making their presence felt in Davos.
Andy Murray's winning streak came to an end when the world number three slumped to a 4-6, 7-6, 6-4 quarter-final defeat at the Paris Masters after a three-hour tussle against the fifth-seeded Czech Tomas Berdych on Friday.
The NSE Nifty has closed at 4,888, down 28 points.
BP Plc, the British energy company, has joined the race to acquire a majority stake in Canadian oil-sand major, Value Creation, with an offer of $1.2 billion. Though the offer is less than Reliance Industries' $2-billion acquisition proposal, given on February 5, agencies reported that BP might set up a joint venture with the Canadian group, and increase its oil-sand holdings by as much as 50 per cent.
Subbarao was delivering the second Business Standard Lecture in New Delhi, immediately after releasing Business Standard India 2011, the fourth volume of the annual India series published by BS Books, a division of Business Standard Limited.
The US is seeking to restrict gasoline supplies from refiners to Iran over its suspected nuclear weapons programme.
Manchester's two-pronged assault on the Champions League finally sprang to life on Tuesday when United won their first match of the campaign by beating Romanians Otelul Galati 2-0 away and City left it until stoppage time to beat Villarreal 2-1.
The Sensex ended virtually unchanged at 17526, lower by 13 points and the Nifty closed at 5,249, up 5 points.
Reliance Industries has offered $13.5 billion to buy LyondellBasell Industries, 12.5 per cent more than its previous offer, and may sweeten it further to get control of the bankrupt petrochemicals firm.
After a stint in Crisil as chairman, Mohan joined the Mukesh Ambani-led company as executive director in August this year, RIL spokesperson said.
Rafael Nadal is recovering satisfactorily from appendicitis and will continue a course of antibiotics in a bid to be fit for the remainder of the 2014 season, the World No 2's spokesman said on Thursday.
Companies that loaded up on debt when India was being hailed as the world's second-fastest-growing economy are now deleveraging to clean up their balance sheets.
Mukesh Ambani-controlled Reliance Industries is expected to buy out a fifth of LyondellBasell's $27 billion gross debt and seek a rollover of the balance after acquisition, as a step towards gaining the confidence of creditors in its plans to acquire the world's third largest petrochemical company, sources familiar with the developments said.
An injury-time strike by Jonathan Reis sent PSV Eindhoven into the Europa League knockout rounds with a 1-0 home win over Sparta Prague on Thursday.
Reliance Industries has since April stopped selling gasoline and gas oil to Iran in an apparent bid to escape sanctions by the US, where it is eyeing an acquisition.
For Dara Huang and John Fesko, the terrorist attacks of a year ago triggered a re-examination of the nature of their relationship.
Indian acquisitions have dropped to $27.3 billion in 2009.
Reliance closed at Rs 2,195, higher by 3.3% on the BSE, after having placed a bid for a controlling interest in LyondellBasell Industries.
India's squash players wrapped up a historic performance at the Asian Games, clinching an unprecedented men's team gold after the women's side settled for its first ever silver in Incheon on Saturday.
India's squash players wrapped up a historic performance at the Asian Games, clinching an unprecedented men's team gold after the women's side settled for its first ever silver in Incheon on Saturday.
Indian Davis Cupper Mahesh Bhupathi and Mark Knowles cruised into the finals of the euro 891,000 ATP Swiss Indoor tournament, defeating Argentine pair Jose Acasuso and Agustin Calleri in straight sets in Basel on Saturday.
The government has said that public sector banks have asked for much more capital than it can give.
Serbia's Novak Djokovic shrugged off a brave challenge from crowd favourite Gael Monfils to claim the Paris Masters title with a 6-2, 5-7, 7-6 win on Sunday.
Rafael Nadal silenced a partisan crowd by knocking out defending champions and local favourite Jo-Wilfried Tsonga 7-5, 7-5 with an impressive performance on Friday to reach the semi-finals.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
Former world number one Marat Safin ended his playing career with a 6-4, 5-7, 6-4 defeat by US Open champion Juan Martin del Porto at the Paris Masters on Wednesday.
The foreign acquisitions are being looked at to strengthen RIL's core businesses like petrochemicals, polymers and refinery, sources said, adding that the company has found that the economic downturn has created some right-valued acquisition opportunities.
Croatian Ivan Ljubicic captured his first ATP title in two years when he dismissed France's Michael Llodra 7-5, 6-3 in the final of the Lyon Grand Prix on Sunday.
Angel di Maria's late intervention spared Real Madrid another inquest into the case of the misfiring forwards while Zlatan Ibrahimovic's sense of occasion salvaged a Champions League point for AC Milan.
"Our asset quality is sound and not a source of concern at this point. Right now, the concern is how to grow faster", says Ravneet Gill
Amid claims from various quarters that Indians have stashed away thousands of crores in secret bank accounts in Switzerland, the Swiss banks have asserted that any statistics about black money "simply do not exist."
Real Madrid coach Jose Mourinho's quest to become the first man to win the European Cup with three different clubs will include a super-charged visit to Milan following Thursday's draw for the Champions League group stage.
Liverpool diced with elimination before scoring two late goals to win 2-1 at Trabzonspor and squeeze into the Europa League on Thursday while Swiss second division side Lausanne came through with a shock win over Lokomotiv Moscow.
World champions Italy could lead a procession of as many as seven European countries into next year's World Cup in South Africa over the next few days.
The move, a part of the new set of prudential norms being discussed by financial sector regulators across the globe in the wake of the credit crisis, was being discussed in view of the reputational risk arising from undertaking such activities, RBI said in its annual report for 2008-09.
With the Swiss government's refusal to share information about Indians holding accounts in its banks, BJP president Rajnath Singh on Monday said India should mount diplomatic pressure on that country to get the details.
Swiss banks may have turned over client details to the US, but they have said India is not welcome there on a name-fishing expedition.
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