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.

Commercial Banks, Government expenditures, Joint ventures, INSURANCE CARRIERS, China, Banking industry, Insurance industry, Economic policy, Company joint venture, Canara Bank, HSBC Insurance Holdings Ltd., Oriental bank of Commerce

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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.

Parent-to-subsidiary activities, Subsidiary-to-parent activities, Cyclic crudes and intermediates, Petroleum chemicals industry, Petrochemicals industry, Reliance Industries Ltd., Subsidiaries, divisions and units

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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.

Financial management, Communications, Broadcasting and Telecommunications, Telephone Communication, Finance, Telecommunications services industry, Telecommunications industry, Communications industry, Company financing, Financial report

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