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Mar 13, 2012

Pfizer scraps insulin deal with India’s Biocon

MUMBAI (Reuters) – Pfizer Inc, the world’s largest drugmaker, has scrapped a deal to sell insulin products made by Biocon Ltd, leaving India’s biggest biotech company without a partner to sell a key profit-driver in global markets.

The two companies cited “individual priorities” as the reason for the split in a joint statement released on Tuesday, which immediately ends a relationship that stood to earn Biocon hundreds of millions of dollars in royalties.

Mar 13, 2012

Pfizer scraps insulin deal with Biocon

MUMBAI (Reuters) – Pfizer Inc, the world’s largest drugmaker, has scrapped a deal to sell insulin products made by Biocon Ltd(BION.NS: Quote, Profile, Research), leaving India’s biggest biotech company without a partner to sell a key profit-driver in global markets.

The two companies cited “individual priorities” as the reason for the split in a joint statement released on Tuesday, which immediately ends a relationship that stood to earn Biocon hundreds of millions of dollars in royalties.

Mar 7, 2012

BSE Sensex falls marginally as reform gloom sets in

MUMBAI (Reuters) – The BSE Sensex fell for a third straight session on Wednesday, led by market bellwether Reliance Industries, as a poor election result for the country’s ruling Congress party appeared to pour cold water on an already-struggling reform agenda.

The Congress’ flop at the ballot box in Uttar Pradesh, India’s most politically vital state, has hit hopes of renewed efforts to re-launch reforms and reverse a slowdown in growth, as the markets await the annual budget this month.

Mar 7, 2012

Indian shares fall 0.2 pct as reform gloom sets in

MUMBAI, March 7 (Reuters) – Indian shares fell for a
third straight session on Wednesday, led by market bellwether
Reliance Industries, as a poor election result for the
country’s ruling Congress party appeared to pour cold water on
an already-struggling reform agenda.

The Congress’ flop at the ballot box in Uttar Pradesh,
India’s most politically vital state, has hit hopes of renewed
efforts to re-launch reforms and reverse a slowdown in growth,
as the markets await the annual budget this month.

Mar 6, 2012

Small is big in Ford’s India drive

CHENGALPATTU, India (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) will focus on small, low-cost cars in India to make the country a manufacturing hub for Africa and the Asia-Pacific region, the head of its Indian operations said, as it races to catch up with global rivals in the fast-growing market.

Ford will launch a slew of new small cars in India over the next three years to target a market it has neglected and ramp up exports to other emerging economies as it doubles capacity in Asia’s third-largest economy, where the small car is king.

Feb 24, 2012

Sensex falls 155 pts, posts first weekly fall in 2012

MUMBAI (Reuters) – The BSE Sensex posted its first weekly fall in 2012 on Friday, sliding 2 percent over five sessions, as investors booked profits on renewed worries about rising global oil prices and the country’s widening fiscal deficit.

Lenders such as State Bank of India, ICICI Bank (ICBK.NS: Quote, Profile, Research) and HDFC Bank (HDBK.NS: Quote, Profile, Research) were the big losers, as expectations for a rate cut in March were tempered by the rally in global oil prices, which could make it difficult for the RBI to ease policy.

Feb 24, 2012

Indian shares post first weekly fall in 2012

MUMBAI, Feb 24 (Reuters) – Indian shares posted their
first weekly fall in 2012 on Friday, sliding 2 percent over five
sessions, as investors booked profits on renewed worries about
rising global oil prices and the country’s widening fiscal
deficit.

Lenders such as State Bank of India, ICICI Bank
and HDFC Bank were the big losers, as
expectations for a rate cut in March were tempered by the rally
in global oil prices, which could make it difficult for the
central bank to ease policy.

Feb 21, 2012

Tata Motors to double JLR investments; China JV soon

MUMBAI, Feb 21 (Reuters) – Tata Motors will
double investments in its Jaguar Land Rover brands to 1.5
billion pounds ($2.4 billion) a year, even as the Indian
automaker warned that it will be a challenge to sustain high
margins at its key profit generator.

With soaring revenues and expanding margins, Jaguar Land
Rover (JLR) has driven the company’s growth in recent quarters,
as strong demand in emerging countries for the famous British
brands offset sluggish performance in Tata’s home market.

Feb 17, 2012

Shiv Sena-BJP retain power in Mumbai civic polls

MUMBAI (Reuters) – Hindu nationalists retained power in Mumbai on Friday, defeating the Congress party despite growing criticism of shoddy and increasingly overburdened infrastructure.

The hardline Shiv Sena party, headed by 86-year-old Bal Thackeray, has led a governing coalition for 16 years in a city as famous for its sprawling slums, clogged roads and rusting railways as for its business suits and skyscraper skyline.

Feb 17, 2012

Hindu nationalists retain power in India’s richest city

MUMBAI, Feb 17 (Reuters) – Hindu nationalists retained
power in India’s richest city of Mumbai on Friday, defeating the
national government’s Congress party despite growing criticism
of shoddy and increasingly overburdened infrastructure.

The hardline Shiv Sena party, headed by 86-year-old Bal
Thackeray, has led a governing coalition for 16 years in a city
as famous for its sprawling slums, clogged roads and rusting
railways as for its business suits and skyscraper skyline.