 | Iran accusations wipe $16bn
off StanChart´s market value THE market value of Standard
Chartered tumbled $16 billion
on Tuesday after New York´s
bank regulator threatened to
tear up its state banking license
for allegedly hiding $250 billion
in transactions tied to Iran.
The New York State
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| | Qatar Holding to increase stake in QIC |  QATAR Holding, a unit of Qatar´s
sovereign wealth fund, is in talks to
increase its stake in Qatar
Insurance Company (QIC) through
the purchase of new shares in the
firm, the insurer said on Tuesday.
Qatar, the world´s biggest exporter
of liquefied natural gas, currently
owns 12 percent of QIC, according to
Thomson Reuters data. QIC said it
had received an offer from ´strategic
partner´ Qatar Holding. No financial
details were given.
"The board of directors of QIC
welcomed the offer and agreed to
the signing of a memorandum of
understanding, which includes
determining the required number
and price per share (nominal value
and issue premium)," QIC said in a
filing to the Qatar bourse, adding
any deal needs... | | | Chesapeake swears off big
spending, shares jump |
 CHESAPEAKE Energy said
on Tuesday it plans to stop
spending heavily on oil and
gas properties next year in a
strategic shift from land
acquisition to resource
development, helping to
boost the US company´s
shares by over 10 percent.
Chief Executive Aubrey
McClendon has spent heavily
to amass more than 15 million
acres (6 million
hectares) in oil and gas
basins around the United
States, leaving the company
awash in debt and unable to
fund its operations without
bringing in deep-pocketed
partners or selling
properties.
Big investors including
Carl Icahn and Southeastern
Asset Management´s Mason
Hawkins have pressured
McClendon to reduce spending
and sell assets to bridge
an estimated ... | | | CRISIL slashes
India´s growth
forecast to 5.5% |
 RATING agency CRISIL
slashed India´s growth
forecast to 5.5 percent for
the fiscal year ending
March, one of the lowest
estimates on the street, just
two months after pruning
its projection to 6.5 percent
from 7 percent.
Poor monsoon rainfall in
India alongside a weakening
eurozone outlook contributed
to the latest cut in
the growth projection,
CRISIL said on Tuesday.
"The revised growth forecast
assumes that the
stretched fiscal situation
will limit the ability of the
government to give a generous
stimulus to the economy,"
its statement said.
Growth in Asia´s thirdlargest
economy faltered to
a nine-year low of 5.3 percent
in the January-March
quarter, due to stalled economic
reforms and higher
interest rates ... | |
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