Albert notes

UPDATE 1-India’s Sun Pharma offers to buy remaining stake in Taro

Oct 18 (Reuters) - Sun Pharmaceutical Industries Ltd , India’s top drugmaker by market value, said on Tuesday it offered to buy all of the outstanding shares it does not already own in its Israeli unit Taro Pharmaceutical Industries for $24.50 apiece.Sun Pharma owns about 66 percent of Taro, according to the Indian firm’s website.Sun Pharma said in a statement to the stock exchanges that its offer was 25.96 percent higher than the most recent closing price of Taro’s common stock.Taro shares jumped 23.1 percent to $23.95 by 1354 GMT. Ahead of the announcement, Sun shares closed 1.2 percent lower in a weak Indian market.

Posted 7 months ago
#UPDATE #1Indias #Sun #Pharma #offers #to #buy #remaining #stake #in #Taro

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Sri Lanka stx at 10-mo low on foreign selloff

* Rupee steady amid heavy importer demandCOLOMBO, Oct 18 (Reuters) - Sri Lanka’s stock market fell for a sixth straight session on Tuesday to a 10-month low in thin turnover due to forced selling to clear margin debt and liquidity fears.The island nation’s main share index closed 1.07 percent or 68.99 points down at 6,388.52, lowest since Dec. 21, 2010. It has fallen 5.8 percent since Oct. 1. The bourse is Asia’s fifth-best performer with a year-to-date loss of 3.7 percent after being on the top for most of 2011.The recent fall has pushed the index deep into oversold territory. The relative strength index on Tuesday fell to 18.86 from Monday’s 21.63, well below its lower neutral range of 30.The bourse witnessed a net foreign outflow of 35.5 million rupees on Tuesday and thus far in 2011, offshore investors have sold 17 billion, and sold a record 26.4 billion in 2010.Bourse data showed foreign investors sold over 80,000 shares of conglomerate John Keells Holdings and 30,800 of Bukit Darah while buying nearly 300,000 of Dialog Axiata .Keells fell 0.6 percent to 198.50 rupees, Bukit Darah fell 0.14 percent to 1068.50 rupees while Dialog fell 1.23 percent to 8 rupees.Losers outperformed gainers by 185 to 34 on Tuesday, Thomson Reuters data showed.Turnover was at 1.3 billion Sri Lanka rupees ($11.8 million), less than last year’s average of 2.4 billion and this year’s 2.6 billion.Tuesday’s total volume was 73.2 million against a five-day average of 59.3 million. The 30-day and 90-day average trading volumes were 134.5 million and 124.3 million. Last year’s daily average was 67.9 million.The rupee closed flat at 110.18/20 a dollar for a 13th straight day, as a state bank continued dollar sales at 110.20 rupees in spite of heavy importer dollar demand, dealers said.FACTORS TO WATCH: - If central bank can maintain a narrow dollar trading range - How much the central bank buys in repo auctions - Rupee depreciation due to heavy importer dollar demandDATAColombo Stock Exchange:Stock Market Volume (Shares)Current Volume Average Volume 30 Days73,233,298 134,527,399Yield and Price of Sri Lanka’s sovereign bonds:Maturing year Tenure amount Reuters yield2012 5-yr $500 mln 5.663-5.1582014 5-yr $500 mln 5.856-5.3612020 10-yr $1,000 mln 6.5104-6.36062021 10-yr $1,000 mln 6.4964-6.3559* For Sri Lankan treasury securities benchmarks and data, please click and* For interbank lending rate or call money rate or* For secondary market rates, please see <0#LKBMK=>. ($1 = 110.200 Sri Lanka Rupees)

Posted 7 months ago
#Sri #Lanka #stx #at #10mo #low #on #foreign #selloff

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Rambus asked about shredded records in Nvidia case

* Other judge: ITC may use wrong standard to take cases By Diane Bartz WASHINGTON, Oct 6 (Reuters) - Chip technology company Rambus Inc (RMBS.O) was quizzed in court about destroyed documents and its own use of its patents as graphics chip maker Nvidia Corp (NVDA.O) sought relief from expensive licensing fees. The two sides squared off on Thursday before the U.S. Court of Appeals for the Federal Circuit over whether Nvidia infringed Rambus patents for controlling and managing the flow of computer data to and from a chip’s memory. The U.S. International Trade Commission, which hears patent cases involving imports, had previously found Nvidia infringed Rambus chip patents and issued an order barring the importation of any chip made with the infringing technology. Nvidia licensed the Rambus technology at royalty rates of between 1 percent and 2 percent depending on the type of memory controller involved, to allow its chips to enter the country, but the legal battle has continued. The ITC had found that Nvidia infringed three patents but did not infringe two others. Both sides appealed to the circuit court and the arguments were consolidated. Part of the battle has centered on whether Rambus destroyed documents to avoid having them used against it in litigation. Rambus has acknowledged document destruction but said it was part of ordinary business practices. Judge Kathleen O’Malley, part of a three-judge panel that heard the case, took issue with an attorney for Rambus who said the company produced the documents that were requested and that all relevant documents were preserved. “You admit you have no idea what was destroyed! You have no record of what was destroyed!” she said. “Remember, you saved the ones that helped you and destroyed the ones that hurt you,” O’Malley said at another point. The appeals court previously ruled in cases between Rambus and Micron Technology (MU.O) and Hynix Semiconductor (000660.KS) that Rambus destroyed documents inappropriately. The cases have been remanded back to lower courts for further consideration. The battle is a key one for Nvidia, whose core business relies on the sale of specialized graphics cards. Judge Raymond Clevenger on Thursday repeatedly asked whether Rambus had proved that it used the patents that it was seeking to defend. Companies may not sue at the International Trade Commission unless they show that they are using the patent domestically. Rambus licensed the patents, and used that to proceed with the lawsuit. Clevenger said district courts cannot order production or importation of infringing products to cease since the Supreme Court said in a 2006 decision that an injunction should not necessarily follow a finding of infringement. “It’s a factor we should think about,” he said. Rambus and others go to the ITC to file patent complaints because the trade commission, unlike U.S. district courts, can bar the importation of devices made with infringing technology. The case against Nvidia and others that was before the International Trade Commission is number 337-661. The U.S. Court of Appeals for the Federal Circuit case numbers are 2010-1483 and 2010-1556.

Posted 7 months ago
#Rambus #asked #about #shredded #records #in #Nvidia #case

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Iranians charged in U.S. over assassination plot

Arbabsiar, a naturalized U.S. citizen, was arrested in late September. Shakuri is still at large.The plot was disrupted by the Federal Bureau of Investigation and Drug Enforcement Administration.U.S. officials said one overarching question is whether elements of the Iranian government were behind the plot. Court documents identified Shakuri as a member of the Quds Force, a branch of the Iranian Islamic Revolutionary Guard Corps.Shakuri approved the plan to try to kill the Saudi ambassador during telephone conversations with Arbabsiar, the complaint said.In July and August, Arbabsiar paid $100,000 to a DEA informant for the murder of Saudi ambassador Adel Al-Jubeir, court documents said.Arbabsiar was arrested late last month at New York’s John F. Kennedy International Airport. After his arrest, court papers said, Arbabsiar confessed to authorities.The men are charged with one count of conspiracy to murder a foreign official, two counts of foreign travel and use of interstate and foreign commerce facilities in the commission of murder for hire and one count each of conspiracy to use a weapon of mass destruction and conspiracy to commit an act of terrorism.

Posted 7 months ago
#Iranians #charged #in #US #over #assassination #plot

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Floods in Pakistan damage 3.7 percent of total crop area: FAO

Nearly 92,000 livestock have perished and at least 5 million surviving animals were at risk, it said.Over 2.75 million people were in immediate need of food assistance in the monsoon affected areas of Pakistan, the FAO said citing a joint assessment by the UN and government.

Posted 7 months ago
#Floods #in #Pakistan #damage #37 #percent #of #total #crop #area #FAO

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