Word: abn
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Dates: during 2000-2009
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...three years. While demand for power leaped?electricity consumption grew by 10.5% in 2002, up from 2.6% in 1998?increases in electricity-generation capacity slowed from an 8.4% growth rate in 1998 to 4.4% in 2002. "China underestimated its power demand quite dramatically," says Pierre Lau, an analyst for ABN AMRO in Hong Kong. "They realized the problem a couple of years later, but by then it was too late...
...informality that envelops the diamond trade?there are often no written contracts, many transactions occur in cash, and stones worth millions of dollars are transported with virtually no security. "It's an industry built on trust," says Biju Patnaik, a Bombay-based diamond-industry expert at Dutch bank ABN AMRO. The Palanpuris have also ventured over-seas, setting up small family-run polishing centers in Antwerp and Tel Aviv, and slowly elbowing into the U.S. as diamond sellers. In Manhattan's midtown diamond district, Palanpuri businessmen sitting beneath portraits of their saint, Mahavira, now run shops side by side with...
...Palanpuris and the Hasidim are cordial, Surat's diamond traders admit that India's sudden rise to prominence has caused some resentment in Israel and Belgium. One Israeli analyst frets that Surat's bustling workshops are flooding retail stores with diamonds, which could depress prices for years to come. ABN AMRO's Patnaik points out, however, that the market for diamonds could expand quickly as the burgeoning middle classes of China and India develop more of a taste for diamond jewelry. To make sure they secure a foothold in the Chinese market, some Surat businessmen have even started setting...
...player, Cingular (which upped its bid last week), Vodafone would be buying a firm that's losing market share. The bid deadline was Friday, but no one would confirm a Vodafone offer; some say AT&T's 22 million customers come at too high a price. ABN Amro analyst Jamie Mariani calls the merger idea "nonsense,'' arguing that the $35 billion price tag, plus $8 billion in AT&T debt, would obliterate any benefits. And to make a deal Vodafone would have to wriggle out of its noncompete accord with Verizon, the U.S. leader, by agreeing to dump...
...sales in the U.S. Though domestic sales for Indian drugmakers as a whole are growing at less than 10% a year, their exports soared by 20% last year. "Even the small and midsize companies are looking to go into the U.S.," says Giridhar Iyengar, a pharmaceutical analyst at ABN AMRO. Thanks to their successes in America, Iyengar thinks profits of Indian drugmakers might grow by up to 30% over the next few years...