HSBC unit enters Indian venture
Article Abstract:
An insurance joint venture in India between Canara Bank of India, Oriental Bank of Commerce of India and HSBC Insurance (AsiaPacific) Holdings Ltd. of China is to be formed. The investment will be divided 51 percent, 26 percent and 23 percent respectively. Investment in the Indian insurance market is being vetted by the government with a rise in the foreign investment limit to 49 percent.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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Reliance Industries launches organized-retail subsidiary
Article Abstract:
Reliance Industries Ltd. of India has created a subsidiary, Reliance Retail Ltd. to compete in the booming retail sector in India. The new subsidiary of the petrochemicals company will need 100 billion Rupees ($2.2 billion) to set up and a further investment of 250 billion Rupees in the coming years.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2006
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Essar prefers to buy out partner in venture
Article Abstract:
Essar Group of India is to buyout Hutchison Essar Ltd. also of India, its joint venture partner. Hutchison Essar Ltd. is the fourth largest mobile phone operator in India and is valued at $18 to $20 billion.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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