Pfizer Ltd, the Indian unit of U.S. drug maker Pfizer Inc, is to take over local affiliate Wyeth Ltd. Shareholders of Wyeth will get seven Pfizer Ltd shares for every 10 shares held.
Sectors
Abraaj Group's senior partner Stefanel leaves firm - sources
Matteo Stefanel, a senior partner at emerging markets-focused private equity firm Abraaj Group, has left the company, two banking and industry sources aware of the matter said.
Multichannel successfully raises USD 3M in seed funding
Multichannel, a US and Hong Kong-based full-automated ad management startup secures USD 3 million in seed funding. The platform is designed to be fully automated so that companies could focus on their ad campaigns instead of focusing on their dashboard.
New roads enthuses Zambians but unnerves foreign investors
President Michael Sata's drive to upgrade the country's rough roads, which often become impassable in the rainy season, is popular with many Zambians like Moyo. But foreign investors, who must partly fund such ambitious schemes, are less keen on his costly promises and very public dust-ups with business.
What to watch in the week ahead
Markets are closed for the Thanksgiving holiday on Thursday and a half day for equities occurs on Friday, so most of the week's meager trading will be done by mid-Wednesday across all asset classes.
Latest News
A group of 10 investors, including Norway's sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion into China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday
The federal government is optimistic that it can get enough people to purchase health insurance. It is also testing an option whereby consumers can directly purchase insurance aside from going to the state websites since it is still malfunctioning.
Daric, a new peer to peer lending platform will go live on Nov 27th, 2013 barring any unforseen regulatory issues. The platform differentiates itself by focusing on user experience and less hassle without borrowers needing to upload any files in the application side.
Former Bang with Friends app is rebranded and relaunched as Down after a trademark dispute with Zynga. They have also launched on Android and has re-adjusted their approach instead of just hookups.
With almost 150 plot bookings from MSME companies, Gujarat's plastic park at Dahej and Sanand are expected to attract around INR5000 crore worth of investment in India.
Europe's top carmaker Volkswagen (VW) has revealed its plan to invest EUR84.2 billion in the next five years for technology upgrades and modernization of its plants.
The S&P jumped around 26% in 2013 with major indexes hitting record high, but investors are wary of the surge in US stocks, citing a potential big drop on the market the following year.
The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.
European Central Bank (ECB) Executive board member Benoit Coeure said the ECB plans to maintain its low interest rates or may cut them further because of low inflation.
