Brazilian flood dampens Inbev quarterly profit

InBev NV, the world's largest brewer, said profit unexpectedly fell in the first quarter after flooding hurt sales in Brazil and power, grain and aluminum prices rose.

ECB keeps its benchmark rate at six-year high

The European Central Bank kept interest rates at a six-year high yesterday to fight inflation, even as the euro's appreciation and fallout from the US housing slump curb economic growth.

IN BRIEF (Page 16)

Carlsberg suffers loss on costs

Carlsberg A/S, the Danish brewer that took over Scottish & Newcastle Plc last month with Heineken NV, reported a first-quarter loss on higher costs for power, malt and aluminum.

Indian govt hopes to open nation's insurance sector

India's government will try to win agreement from coalition allies to ease restrictions on foreign investments in insurance, banking and pensions in its final year in office, Finance Minister Palaniappan Chidambaram said.

Business International

Ambani sells artworks to assist wife's charity

Indian billionaire Anil Ambani will sell 12 artworks to raise cash for a charity run by his wife Tina, a former Bollywood star, Christie's International said.

Roche eyes up diabetes market

Cancer drugs have propelled Roche Holding AG's profit by more than 20 percent a year since 2004. To continue the pace, the Swiss company is racing to break into the fast expanding, $21 billion-a-year diabetes market.

IN BRIEF (Page 16)

Business International

Peace proves profitable for N. Ireland

For years, Northern Ireland was a byword for brutality and fear. But now, the tiny province is selling itself as a central, low-cost land of business opportunity, and investors are buying.

Adidas earnings up on cost cuts

Adidas AG, the world's second-largest sporting-goods maker, reported a 32 percent increase in first-quarter profit after squeezing suppliers for cost reductions and opening stores under its own brand.