Unilever shares tumble 8 percent after Kraft ditches bid
LONDON Shares in Anglo-Dutch consumer goods group Unilever dropped 8 percent on Monday after U.S. rival Kraft Heinz Co abruptly ditched its surprise $143 billion merger proposal.
ZTE Corp 000063.SZ, China's second-largest telecom equipment maker, said it plans to launch more products in India to help increase smartphone revenues by 30 percent this year, while naming a new chief executive for its operations in the country.
ZTE India named Xu Dejun as CEO to replace Cui Liangjun, who will move to the company's headquarters in Shenzhen, China.
It also said 2012 sales for its India operations rose over the last two years to $700 million. The year-ago sales figure was not immediately available.
ZTE, which is also the world's fourth-biggest handset maker, and rival Huawei Technologies Co Ltd HWT.UL (002502.SZ) have diversified from selling just telecom network gear, where growth has slowed, into consumer electronics gadgets such as smartphones and tablet PCs.
The Indian telecom network gear market has struggled in the past one year after a Supreme Court order to revoke permits of several smaller cellular carriers.
(Reporting By Aradhana Aravindan in MUMBAI; Editing by Sunil Nair)
SINGAPORE The following are some highlights of Singapore's budget proposals for the fiscal year that begins April 1.
Gold prices held steady on Monday, with investors looking ahead to a clutch of speeches from U.S. Federal Reserve officials later in the week for clues on the timing of possible interest rate hikes.