Federal Reserve
Bernanke says Fed likely to reduce bond buying this year
Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year. Full Article | Instant View
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
India's Fortis Healthcare surges on plans to sell unit stake
Microsoft reverses position on Xbox One
Microsoft says that users of its forthcoming Xbox One game console will be able to play games offline without an Internet connection, and will be able to lend or sell used disc-based games. Full Article
MUMBAI |
MUMBAI Dec 17 (Reuters) - Shares in India's Fortis Healthcare rose as much as 7.5 percent on Monday on the company's plans to sell its 64 percent stake in a dental clinics business in Australia for A$270 million ($285 million).
The stake sale to British medical services group Bupa will help Fortis focus on high-end healthcare operations in Asia, it said in a statement late on Sunday.
The entire proceeds will be used to reduce the group's debt, Fortis group Chief Executive Vishal Bali told news channel CNBC TV18. The deal is expected to be completed in March 2013, Fortis said. (Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters