BANKING / India footprint to further swell following the deal
StanChart will pick up AmEx Bank for $860 m UK banking giant Standard Chartered, on Tuesday, announced it will acquire US-based American Express Bank for about $860 million a deal that will give it the much-needed additional branch licenses in India.
STRATEGIC GROWTH FOCUS
Deal excludes card, travel biz American Express Company (AXP), which, on Tuesday, agreed to sell its banking business American Express Bank to UKs Standard Chartered, said the sale does not include its primary card and travel-related businesses.
STICHING UP SYNERGETIC GARMENT RETAIL BUSINESS
Trent to run Benettons Sisley stores Trent, a Tata Group company, on Tuesday, forged an alliance with Benetton Group for management of Sisley stores across key cities in the country.
Decision on four other proposals deferred
Ten SEZs get Centres clearance The Board of Approval (BOA) of Special Economic Zones (SEZs), on Tuesday, accorded formal approval to 10 SEZ projects including three Mukesh Ambani-promoted IT zones in Navi Mumbai and one SEZ project in engineering sector in Karnataka.
Day of Bajaj bike & Suzuki scooter Bajaj Auto Limited, on Tuesday, announced the regional launch of its new XCD 125 bike, powered with the digital twin spark swirl induction (DTS-Si) engine. Priced at Rs 41,000 (ex-showroom), the new bike, the company claims gives a mileage of 109 km per litre.
The Joint Managing Director of Suzuki Motorcycle India Katsumi Takata sits on the newly launched mid-sized scooter Access 125 as VP, Sales and Marketing Atul Gupta (R) looks on during a press conference in Bangalore on Tuesday. PTI
The power game in Karnataka is headed for a climax. In October, the credibility of JD(S) will be put to test when it has to hand over power to BJP. Will the JD(S) do so? If yes, will B S Yediyurappa become the chief minister?
Deccan Herald invited readers to send in their predictions. Many argued that JD(S) would hand over the baton to BJP, but it would still be advantageous to JD(S) in the new dispensation.
Others were sure that BJP won’t gain power but will win public sympathy.
