September 22: Picturesque New View
September 22: Picturesque New View
A powder sample is poured into an x-ray capillary tube in a laboratory at Imperial College in London
Shares in Sun Pharmaceutical Industries rallied to an all-time high on Wednesday after the top valued Indian drugmaker said it had completed acquisition of a controlling stake in Taro Pharmaceutical Industries Ltd.
The purchase of Taro after a protracted legal battle will help Sun expand its generic offerings in the United States, Canada and Israel, the company said.
Mumbai-based Sun has paid about $39 million for the founding families' 12.7 per cent stake, taking its shareholding in Taro to 48.7 per cent at a total investment of $144 million, Sun's spokeswoman said.
Sun and its units had entered into a definitive agreement in 2007 to acquire Taro in a $454 million deal, that included debt and valued Taro's equity at $230 million. But Israel-based Taro terminated the deal citing low valuation.
Earlier this month, it
The front of a VW campervan is seen in Tansley, northern England
German carmaker Volkswagen may extend its global partnership with Suzuki Motor Co by tapping the Japanese firm's manufacturing and design facilities in India, a newspaper said on Wednesday.
Top Volkswagen officials visited the Maruti Suzuki factory and met senior management of India's largest car maker, the newspaper said, adding that discussions centred around sharing product designing or rebadging cars.
Maruti Suzuki Chairman R C Bhargava told the paper a decision for any tie-up with Volkswagen would be taken by Suzuki Motor, which owns 54 per cent of the Indian firm.
Volkswagen took a 19.9 per cent stake in Suzuki this year.
A emergency exit sign is pictured above a logo of German car manufacturer Daimler AG, before the annual news conference in Stuttgart
German luxury car and commercial truckmaker Daimler is not in talks with Italian rival Fiat over the acquisition of its capital goods division Fiat Industrial, Daimler said on Wednesday.
While the Stuttgart-based group was not looking to buy the entire business as an Italian newspaper reported, it did leave plenty of room open for further speculation about a different tie-up.
\"It's no secret that everyone talks with everyone in this industry,\" a Daimler spokesman said. \"But there are no talks with Fiat on this subject.\"
Shares in Fiat had briefly jumped by more than 2 per cent on Wednesday following a report in La Repubblica that Daimler had offered 9 billion euros for the Fiat Industrial assets this summer but Fiat wanted 10.5 billion and the deal was halted.
Fiat declined comment.
A US Air Force C-17 Globemaster III transport aircraft is parked at the Royal Thai Air Force base in Bangkok
India is aiming to finalise a $5.8 billion defence agreement with the United States before the November visit of President Barack Obama in a deal that would mark the biggest India-US defence deal ever.
The two countries are in talks for India to acquire 10 Boeing Co's C-17 Globemaster III planes, senior government officials said on Wednesday, adding the parties hope to make the announcement during Obama's visit.
"The $5.8 billion deal along with all potential support services and spares is the biggest-ever defence deal between the two countries till now," a senior government official told Reuters.
Another official said the actual announcement could be made during President Obama's visit.
India and US are building a strategic alliance and security experts say New Delhi's growing ties with Washington are s
Workers pushing a cart at the CWG venue in New Delhi
Several big name athletes have pulled out of the Commonwealth Games and Scotland delayed its departure to New Delhi on Wednesday, adding to woes of an event meant to showcase India's ability to stand up with China on the world stage.
Some countries have effectively given Delhi a few days to clean up the Games village or face the prospect of national withdrawals from an event which is so far only showcasing Indian traveller-tale cliches of filth, chaos and corruption.
A portion of false ceiling in the weightlifting venue caved in on Wednesday, a day after the collapse of a footbridge by the main stadium, injuring 27 workers, highlighted problems facing organisers as they race to complete work.
Nobody was injured at the weightlifting venue.
\"National Shame\" was the headline of one Indian newspaper.
\"There have been dogs roaming around the village, the apartmen
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