IN BRIEF (Page 14)

Prius stays on top in Japan

Toyota's Prius remains the top-selling car in Japan despite the automaker's global recall woes that included braking problems with the hit hybrid.

More than 27,000 of the gas-electric hybrids were sold in February, making the Prius the best selling model for the 10th straight month, according to Japan Automobile Dealers Association figures released on Thursday. The continued popularity of the Prius comes despite Toyota's recall debacle affecting 8.5 million vehicles around the world, including the third-generation Prius in Japan, recalled for a glitch in antilock braking.

Reliance won't up $14.5b bid

Reliance Industries Ltd has no plans to increase its bid for bankrupt chemicals maker LyondellBasell Industries AF following the rejection of its $14.5 billion offer, two people briefed on the matter said.

Market conditions didn't justify raising the offer further, the people said declining to be identified because they aren't authorized to speak to the media. Chairman Mukesh Ambani, Asia's richest man, may be prompted to spend Reliance's $3.5 billion of cash elsewhere, analyst Victor Shum said. "Paying any more than Reliance have offered makes the deal unattractive," Shum of energy consultants Purvin & Gertz Ltd said.

Lender eyes wealthy Indians

Deutsche Bank AG, Germany's biggest bank, plans to double the assets it manages for wealthy Indians living overseas to $10 billion in three years and will hire more bankers in Asia to capture the growing market.

The Frankfurt-based bank, which currently employs more than 60 people to serve this market, will boost staff by at least 50 percent, said Salman Mahdi, who runs global private wealth management for South Asia from London. There's an estimated 25 million to 30 million people of Indian origin living overseas, with as much as $70 billion to invest, Mahdi said.

Citigroup thanks US for bailout

Citigroup Inc CEO Vikram Pandit thanked American taxpayers for the $45 billion bailout the bank got in late 2008 that helped it stave off a deposit run.

"This investment built a bridge over the crisis to a sound footing on the other side, and it came from the American people," Pandit told a congressional panel overseeing the government's bank-bailout program, according to a copy of his prepared remarks. "I want to thank our government."

GDF Suez FY profit edges up

French utility GDF Suez SA said on Thursday that profits were little changed last year and that it is well placed to benefit from the economic recovery.

The company said that excluding contributions by companies sold as part of its 2008 merger, net profit rose 0.3 percent in 2009 to 4.5 billion euros ($6.15 billion).

Bloomberg NEWS-AP

(China Daily 03/05/2010 page14)