Business News

Mahindra to buy 51 pct in China tractor co - TV Posted: 18 Aug 2008 02:08 AM CDT MUMBAI- Mahindra & Mahindra Ltd, top utility vehicle maker, is likely to acquire 51 percent in Chinese tractor firm Kianbsu Yueda Yancheng, CNBC-TV18 news channel reported on Monday, citing unnamed sources.

Nikkei up 1.1 pct, exporters gain on softer yen Posted: 18 Aug 2008 02:05 AM CDT By Taiga Uranaka

China South Locomotive up on IPO debut Posted: 18 Aug 2008 01:53 AM CDT SHANGHAI, China (AP) _ China Southern Locomotive, the country's biggest train manufacturer, saw its shares peak in their Monday trading debut at 83 percent above the initial public offering price and then fall back as the broader market extended its losses.

Indian shares bounce as banks, techs rise Posted: 18 Aug 2008 01:42 AM CDT NEW DELHI (Reuters) - Indian shares bounced off early lows and rose 0.1 percent on Monday, led by banking and software stocks, but concerns about foreign fund selling and inflation kept investors wary.

Oil rises over $1, trades at $115 a barrel Posted: 18 Aug 2008 01:34 AM CDT Oil rose over $1 to near $115 a barrel on Monday as investors eyed a potential supply threat from Tropical storm Fay to oil and gas production in the Gulf of Mexico.

Citigroup reorganises Asia unit Posted: 18 Aug 2008 01:34 AM CDT US financial services giant Citigroup on Monday unveiled a reorganisation of its Asia-Pacific business into four regions and seven product groupings under its new Asia chief executive, Ajay Banga.

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