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...medicines. Pfizer's biggest product, Lipitor, could lose its patent protection within four years. And Wall Street is losing patience with the pace of new-drug development. Pfizer's share price has slumped more than 30% since 2001. Former CEO McKinnell didn't help matters, appearing aloof to investor concerns while pocketing more than $140 million during his tenure, including a retirement package worth an estimated $83 million. Mending fences with shareholders will be critical for Kindler. They are, after all, paying his salary...
...involving a firm from a neighboring country. This was no routine transaction. Sawiris, CEO of Orascom Telecom Holding SAE, in Cairo, purchased 9.9% of Partner Telecommunications Co. Ltd., in Tel Aviv, considered to be the biggest investment, valued at $150 million, ever made in the Jewish state by an investor from an Arab country. Sawiris expected the rebukes he received from some fellow Arabs for doing business with Israelis even as the Israeli-Palestinian conflict still rages. But he insists that such deals will benefit the region by forming business bridges. "This is a very big step," says Sawiris, sipping...
...took up the technical yet crucial issue of adopting common product standards. "There is a reshaping of the landscape," says Hassan Heikal, CEO of EFG-Hermes Holding SAE, a Cairo investment bank, over cocktails at the Four Seasons First Residence--itself the product of a partnership among a local investor, a Saudi prince and a Canadian hotel mogul. "There is a new breed of CEOs who are willing to go outside their own borders and take risks. I'm very bullish on the Middle East for the next 10 to 20 years." With that, Heikal, considered the whiz...
...capital at the heart of the fast-growing Asian economy and a popular destination for foreign investment. The similarity to recent attacks on transportation networks in Western financial capitals was not lost on residents of Bombay. "First Madrid, then London, now us," says Rakesh Jhunjhunwala, a well-known Indian investor. "The terrorists were trying to attack the financial backbone of India, but it did not work." Indeed, in the aftermath of the bombs, Bombay's people showed resilience and bravery?just as those in Madrid, London and New York did in similar circumstances. The Sensex, India's benchmark stock index...
...much attention that some financial pros believe they're moving markets in certain precious metals, alternative energy, water and other areas. Those pundits suggest that gold ETFs--formed by trusts that hoard the glistening, 400-oz. bars in London vaults--have become reflexive, a term applied by billionaire investor George Soros. Think self-fulfilling prophecy. In this case, it means the new ETFs signaled a shortage of physical gold available, making the metal jump in price and thus luring more new buyers. Gold is up more than 35% since its first U.S. ETF was announced in late...