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When one becomes two
Co-heads: Bankers love to talk about how one plus one is three. But sometimes in investment banks, one plus one equals just one. Morgan Stanley, Credit Suisse and UBS have replaced their sole heads of investment banking in Asia with double-acts in the space of a few weeks. Goldman Sachs’ decision not to replace its departing M&A co-head, leaving one banker in charge of Asian dealmaking, looks positively unfashionable by comparison.

Indian economy may bottom out by 2009-end: report
The Indian economy is expected to bottom out towards end of the calender year, led by recovery in private investments and exports, a report has said.

News of the day

Lanco Solar plans 200 Mw solar PV project in Gujarat
Lanco group, through its newly formed special purpose vehicle Lanco Solar is planning to invest close to Rs 4,000 crore for setting up solar projects in the state.
Home Business

Ispat lines up Rs 2,600cr capex for 2 yrs

Domestic steel producer Ispat Industries today said it has earmarked a capex of about Rs 2,600 crore for two years in major projects. "New projects were hit for a while, but now progressing well. The global financial meltdown delayed the process, but we have been able to overcome it. In a few projects we are very close to financial closing," Ispat Chairman Pramod Mittal said here today on the sidelines of company"s AGM.


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