Reliance IPO to be India's biggest

India's Reliance Power Ltd is set to launch an initial public offering to raise up to $2.97 billion in the country's biggest IPO, three investment banking sources close to the deal said yesterday.

Biz people

Ernst to get $2.6m severance

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Business International

Dollar may extend 2-year euro decline

The dollar may extend a two-year decline against the euro on speculation a slowing economy will make US assets less attractive to investors.

Islamic bonds offer way to sidestep slump

Islamic bond sales jumped 70 percent last year as borrowers led by Gulf Arab companies sidestepped the credit market slump triggered by record defaults on US home loans.

Citigroup, Merrill Lynch win top spots

Citigroup Inc and Merrill Lynch & Co were the world's top underwriters of stocks and bonds in 2007, measured by volume and reported fees, despite being at the epicenter of the global credit crisis.

PHH calls off its sale to Blackstone

PHH Corp, the New Jersey-based mortgage and vehicle leasing company, scrapped its $1.8 billion sale to General Electric Co and Blackstone Group LP because Blackstone failed to get financing for the transaction.

Kerkorian's Tracinda to buy Delta Petroleum stake

Kirk Kerkorian's Tracinda Corp agreed to buy a 35 percent stake in Delta Petroleum Corp for $684 million in a deal that will help the US oil and gas producer accelerate drilling.

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Made in china Supplement

Core competency powers leading truck maker ahead

China National Heavy-Duty Truck Group Co Ltd (CNHTC) has achieved dramatic growth in recent years.