French bank BNP Paribas expects annual synergies of euro900 million by 2012 from the acquisition of Belgian lender Fortis, raising its earlier savings target of euro500 million. The acquisition would make BNP Paribas as a top financial institution by deposits across the 16 euro using nations.
Global firms are making huge investments in India's consumer market, despite the overall weakness in the Asia's third-largest economy.
In the recent past, consumer goods giant Unilever announced its decision to invest $5.4 billion to increase its stake in its Indian arm Hindustan Unilever Ltd.
Available figures suggest that foreign companies collectively spent around $9.86 in mergers and acquisitions in India this year. The figure is the highest in Asia.
AirAsia's CEO Tony Fernandes on Wednesday revealed the identity of the person who will pilot the Malaysian airline's India operations.
Fernandes, the promoter of AirAsia, had announced in March that the airline had selected a very smart boy from Madras, with an amazing CV, as the CEO for AirAsia India.
Revealing the identity of the AirAsia India CEO, he yesterday said the CEO is 32-year-old, Chennai-born Mittu Chandilya, who is currently based in Singapore.
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