NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
India's $2.25 billion stake sale in NTPC on Thursday: official
(Reuters) - The Indian government expects to raise around 120 billion rupees ($2.25 billion) by selling a 9.5 percent stake in state power utility NTPC Ltd (NTPC.NS) in a share auction on February 7, Disinvestment Secretary Ravi Mathur said.
The floor price for the offer will be announced on Wednesday, he said.
Share sales in state companies has been a key element of the government's plan to bring down its fiscal deficit to 5.3 percent of gross domestic product by March-end to avoid a credit downgrade from global ratings agencies.
The government aims to raise $5.6 billion by selling shares in the 2012/13 fiscal year to March. Last week, it raised $585 million through a 10 percent stake sale in state explorer Oil India Ltd (OILI.NS).
It expects to sell shares in four other state companies before March-end, Mathur told reporters.
(Reporting by Prashant Mehra in MUMBAI; Editing by Anupama Dwivedi)
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