Dow -0.44% to 12968. S&P -0.42%. Stoxx 50 +0.2%. Germany +0.4%. Spain -0.7%. France +0.26%. London +0.08%.
India has frozen aid to the Maldives as its government on Monday decided to take control of the international airport. The Male government had asked GMR to vacate and remove all property from the airport within 30 days. (ET) Meanwhile, Axis Bank has sent a legal notice to the Maldives government to recover its $350 million loan given to GMR. [stockquote]GMRINFRA[/stockquote] [stockquote]AXISBANK[/stockquote]
MphasiS has acquired Florida, US-based data analytics company Digital Risk, for $200 million (Rs. 1100 crore) in an all-cash deal. MphasiS’ purchase of Digital Risk will offer an exit route for private equity firm Century Capital, which owned about 40% in the company. (ET) [stockquote]MPHASIS[/stockquote]
Will European insurance companies be forced to dump €500bn of equities? Solvency II rules stipulate the capital requirements insurers’ must meet to hold various asset classes. It is widely seen as pushing them to diversify their portfolios away from equities in order to cut their capital requirements and reduce volatility. (FT)