One of the large Oil & Gas company in China is making its initial public offering of shares. Its clearly unlocking value and getting ready for more expansion in terms of organic and aquisition strategy.China Daily reports today

PetroChina, one of China’s biggest oil and gas producers, will raise 66.8 billion yuan (8.9 billion U.S. dollars) in the biggest share sale of the year, the China Securities News reported Tuesday.

The oil producer will sell four billion shares at 16.7 yuan apiece, according to a statement today.

The share sales are bigger than Shenhua, the country’s biggest coal producer, which sold 66.6 billion yuan worth of sharesin September. PetroChina’s will also rank among the world’s biggest initial public offerings (IPOs) this year.


PetroChina has attracted a record 3.37 trillion yuan in applications for its Shanghai listing, topping Shenhua’s 2.66 trillion yuan.

The statement shows that a total of 484 investors will attend the off-line allotment, more than Shenhua’s 465 investors and China Construction Bank’s 432. Read the rest of this entry »

Everytime we talk about Amchi Mumbai there is a big nostalgia for all ex-mumbaikars (as they call the residents of Mumbai). The city is known for its hustle and bustle life. There is tremendous amount of energy there and its known for its Financial Markets, Commodities markets, Bollywood, Corporate Houses, Fashion, Underworld…There is nothing wrong in saying Mumbai is putting together New York, LA and Paris in one city.

About 20M live in this city and daily there is a huge influx from all over India to earn a livelihood. Every person who has made it big here has come from outside the city. Naturally the city is choking and the muncipal budget to maintain and better the conditions is a paltry sum and add to it some corruption on top of it.

PM Manmohan Singh wants to change this and he had given a directive to his congress CM to comeout with a plan to make it a world class city and a financial hub. It is glad to know the CM has declared a plan today.

As reported by PTI news in Mid-Day,..

The Maharashtra government has drawn up an ambitious US $60 billion (Rs 2.25 lakh crore) action plan for makeover of Mumbai, aimed to convert India’s commercial capital into a global financial hub.

“Our government is serious on transforming Mumbai into a global financial centre and the plan is aimed at transforming the Mumbai Metropolitan Region (MMR) into a modern urban centre,” he said in an interview to PTI in Mumbai today, on the eve of his Democratic Front government completing three years. Read the rest of this entry »

( VIVO4; NYSE: VIV) is the largest mobile phone service provider in Brazil and in South America with over 28 million users. It originated from the merger of several Brazilian mobile phone operations under a joint-venture owned equally by Portuguese Portugal Telecom and Spanish Telefónica. Most of its network is IS-95/cdmaOne based, although there are parts of it which are still analog AMPS and parts (resulting from acquisition of other companies) which are TDMA (IS-136) based. The network is being gradually converted to CDMA2000.In 2006, after years being the only CDMA network, Vivo announced a GSM network, and that it would operate in both CDMA and GSM^[1].

The Vivo brand was launched on April 13th 2003. Until 2006, the group was composed of six holding companies which, as announced in November 2005, merged into a single holding company, Vivo Participações S.A.. The operation was concluded on February 22nd 2006. Read the rest of this entry »

As the Sensex crossed 20,000 today,..Mukesh Ambani’s market value of his wealth rose to $63.2 B. he has surpassed Bill Gates, Carlos Slim helu and Warren Buffet. This has been achieved despite the split with his brother Anil Ambani. With India growing substantially in the next decade his wealth is going to only increase.

PTI news in Times of India reports

Following a strong share price rally on in his three group company, India’s most valued firm Reliance Industries, Reliance Petroleum and Reliance Industrial Infrastructure Ltd, the net worth of Mukesh Ambani rose to $63.2 billion (Rs 2,49,108 crore).

In comparison, the net worth of both Gates and Slim is estimated to be slightly lower at around $62.29 billion each, with Slim leading among the two by a narrow margin.

Warren Buffett, earlier the third richest in the world, also dropped one position with a net worth of about $56 billion.

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Ambani’s wealth of about Rs 2,49,000 crore includes about Rs 2,10,000 crore from RIL (50.98 per cent stake), Rs 37,500 crore from RPL (37.5 per cent) and Rs 2,100 crore from RIIL (46.23 per cent).

Mukesh Ambani - Richest Man in the world

Tatas and Jack Naseer, former CEO of Ford, led One Equity are likely to be narrowed for the second round of the bids out the six contenders.

All interested parties have toured the plants and have done their homework on the opportunites of new Jaguar model.

From Tata’s point of view this would be a great entry in to the developed markets and also gives a huge opportunity with in their strong base of indian market.

Walt Disney has decided to enter the Russian market through its characters Mickey Mouse and others. As the economy expands in Russia the entertainment industry is surely seeing a demand to make inroads there.

The Walt Disney Company, through its subsidiary and affiliated companies, has been active in Russia for over 15 years. Disney is one of the leading international providers of television entertainment in Russia including hit series such as “Desperate Housewives” and “Lost”, which was Russia’s top US series of 2005. The long-running branded timeslot “DisneyClub” is broadcast six days a week on Channel 1 and showcases the best in Disney animation. Disney is one of the top international film distributors in Russia and one of the top video and DVD distributors. Disney works with local and international licensees to produce a wide range of branded merchandise which is distributed through leading Russian and western retail chains. Since 2002, Disney has been publishing, marketing and distributing a broad portfolio of educational and entertaining multi-platform videogames in Russia. Already, Disney is the market leader in the children’s games segment there.

Recent research by Price Waterhouse Coopers (PWC Global Entertainment and Media Outlook) revealed that the Russian entertainment and media industry was the fastest growing in Europe, with a value in 2004 of over $12.4 billion. Also, according to the Economist Intelligence Unit, the economic important of the Russian middle class has increased from 7% in 2001 to 37% in 2005.

As reported in The Moscow Times,

Her grandfather worked with Fidel Castro and Che Guevara, and she is waging a revolution of her own. Marina Jigalova-Ozkan, head of The Walt Disney Company CIS, is introducing Mickey Mouse and other Disney characters to Russia.

Jigalova-Ozkan learned the value of a good story from her early years. She was born into an elite family and spent several years living in Libya as a child. Her father was a foreign trade official, and her grandfather was a diplomat serving in postwar Berlin, Cuba, Burma and Yemen. Read More…

On Top in Toon Town

Sports is a great sort of entertainment in BRIC countries. Soccer in Brazil, Cricket in India, All form of games in Russia and China. A big way to expose your sports strength is by hosting world events and for sure there is nothing equivalent to Olympics. The next Olympics is going to be at Beijing and China is raring to showcase the world about its talent, infrastructure, event management skills and prosperity.

Xinhua news reports about 1.85 million tickets for the 2008 Olympic Games will go on sale as the second round of booking starts Tuesday, the Beijing Olympics Organizing Committee (BOCOG) said.

“The tickets will be sold on the ‘first come, first serve’ basis in this stage,” Rong Jun, head of BOCOG’s ticketing center, told reporters Saturday.

Read the rest of this entry »

What is the win for US in this deal ? Surely lot of economic benefits and from India point of view , it would be visibly aligned to all the major actions of US. What is important for India ? Surely it needs energy. It needs the political and economic clout to engage the world just like China.

Whats the fear of Left parties ? Really what is it ? Is it patriotism, sovereignity or simply their agenda.

As they say, when you do a deal you look at your own score and not the other party’s score.

The Mumbai Stock Exchange Index, Sensex, touched all time high of 19235 today.This happened due to some solid performance of Capital Goods sector led by Larsen and Toubro recording a massive 73% profit growth from the previous quarter.

Biggest Sensex gainers were Larsen & Toubro (up 11.24%), State Bank of India (5.58%), BHEL (4.84%), Tata Steel (3.88%) and Mahindra & Mahindra (3.69%). Hindustan Unilever (down 1.22%), Dr.Reddy’s Laboratories (0.91%), ITC (0.68%), Wipro (0.57%), Ranbaxy Laboratories (0.47%) and Cipla (0.27%) were the laggards.

It looks like a Diwali run of 20K at the Sensex is imminent. Some time back Mr Rakesh Jhunjhunwala, The Indian Warren Buffet, had quoted that if the Indian companies show growth in their earnings like this for next 6 years or so then  it is likely that Sensex may touch 50,000. Thats a lot of growth and return for the investors.

If you are still thinking where to put your money,…U bet!

Xinhua news reports that Broadway musical comedy “42nd Street” will be performed in Beijing. Economic progress elevates the scope of entertainment and surely Chinese shows and Bollywood shows will also have a mainstream audience.

Broadway musical comedy “42nd Street” will kick off its eight shows in Beijing on Nov. 13, the fifth stop of its China tour. Its performance in four Chinese cities, especially China’s economic hub Shanghai, has been very successful, said the organizer Beijing Oriental Broadway International Theatre Management Co. Ltd, in a press release here Thursday.

Broadway show in China