Sun Pharma announced that its wholly-owned US subsidiary, Sun Pharmaceutical Industries, has acquired complete ownership of Chattem Chemicals from Elcat

Vikram Pandit, the Indian American chief executive officer (CEO) of Citigroup is likely to be replaced by American Express chief executive Kenneth Chenault,

Principal Financial Group, a leading US based financial group is looking to acquire an asset management company (AMC) in India as it wants to scale up its fund unit operations in the high-potential market,

Bank of Baroda (BoB) and Maruti Suzuki India, have signed a Memorandum of Understanding (MoU) whereby dealers of Maruti cars would advise prospective Maruti car-buyers about the car-loan advantages of the bank and help them in applying for it,

Indiareit, a real estate fund promoted by Ajay Pirmal has acquired about 15% stake in Mumbai-based developer Neptune Group for around Rs 3 billion,

Tilaknagar Ind. to build Rs 800 mm distillery in Ahmednagar

Siemens to invest USD 2 bn for expansion in India operations

Adlabs Films is betting on its combined film service business and movie exhibitions to drive its expansion and is spending Rs 2 billion to expand the two businesses

Maruti Suzuki, India`s largest passenger car company, will start exports from its upcoming dedicated car terminal at Mundra Port in January 2009 to expand its presence across European markets

China`s central bank has cut benchmark lending and deposit rates by 108 basis points (bps) on November 26, the fourth cut since mid-September

City Union Bank, today, November 26 announced that it had opened 4 new branches in South India. (Kollam, Madhurapuri and Sirkazhi in Tamil Nadu and one at Rajaji Nagar in Bangalore-Karnataka.)

The board of directors of Sujana Towers at its meeting held on Nov. 25, 2008, has increase the authorized share capital from Rs 500 million to Rs 550 million.

KLG Systel, today, November 26 announced that its power system solution (PSS) division bagged a contract worth Rs 83.60 million from West Bengal State Electricity Distribution Company.

Bharat Heavy Electricals (BHEL) and Tamil Nadu Electricity Board (TNEB) have formed a joint venture (JV) company for setting up the first supercritical thermal power project in Tamil Nadu.

Mphasis at its meeting held on Nov. 26, 2008, has proposed a final dividend of Rs 2 a share on equity share of Rs 10 each for the 7 month period ended Oct. 31, 2008

The demand in the housing sector in tier-II and tier-III cities in the first half of fiscal year 2009 declined 35% on account of high cost of borrowings, as per Associated Chambers of Commerce and Industry of India (Assocham),

National Multi Commodity Exchange (NMCE) is venturing into the warehousing space by setting up over 10 modern warehouses across the country

Aztecsoft, today, November 26, announced that the shareholders and creditors of the company (both secure and unsecured) will hold a meeting on Dec. 22, 2008 to give their call on the amalgamation scheme of the company with MindTree.

Corus, Europe`s second largest steel producer and a subsidiary of the Tata Steel, sold its 50% stake held in GrantRail Group to its joint venture (JV) partner, VolkerWessels.

USA ECONOMIC DATA ON NOVEMBER 26

U.S. Oct. durable-goods orders fall 6.2% vs. -2.5% expected

U.S. Sept. durable-goods orders revised to -0.2% from 0.9%

U.S. Oct. durable-goods inventories rise 0.4%

U.S. Oct. durable-goods shipments fall 2.4%

U.S. Oct. core capital equipment orders fall 4%

U.S. Oct. durable-goods orders ex-transportation fall 4.4%

U.S. Oct. personal income up 0.3% vs. 0.1% expected

U.S. Oct. consumer spending down 1% as expected

U.S. Oct. PCE core inflation unchanged at 0.0%

U.S. Oct. consumer spending weakest since Sept '01

U.S. 4-wk. avg. continuing jobless claims rise to 3.92 mln

U.S. continuing jobless claims fall 54,000 to 3.96 mln

U.S. 4-wk. avg. initial jobless claims rise to 518,000

U.S. weekly initial jobless claims fall 14,000 to 529,000