Indian shares choppy; Reliance, DLF drop

MUMBAI, July 29 (Reuters) – Indian shares were trading 0.2
percent lower on Thursday ahead of the expiry of monthly
derivatives contracts and subdued cues from Asian markets.

Energy major Reliance Industries (RELI.BO) dropped 0.5
percent after sliding 3.1 percent in the previous session, and
traders said they were cautious of the near-term trend.

“A lot of short positions are being rolled over in Reliance
Industries, indicating a bearish outlook,” said Kunal Sukhani,
manager of institutional equities at Asian Markets Securities.

The stock, which has the heaviest weight on the main BSE
index .BSESN, has come under pressure following a delay in
the company’s plan to reach full gas output from its field off
India’s east coast.

The oil secretary said late on Wednesday Reliance would be
able to pump natural gas at full capacity from its deep-sea
field during the year to March 2013, indicating a delay of
almost two years. [ID:nSGE66R0KK]

By 11:09 a.m. (0539 GMT), the 30-share BSE index was
trading down 0.2 percent at 17,921.28 points, with 19 of its
components declining.

“Market is volatile because of derivatives expiry,” said
Sukhani, referring to the monthly contracts on the National
Stock Exchange.

DLF (DLF.BO) dropped 1.4 percent after the largest listed
property developer’s 3.8 percent rise in quarterly profit
failed to cheer investors. [ID:nBMA008118]

Param Desai, a research analyst with Angel Broking, said
the profit was tad below expectation as interest and
depreciation costs weighed.

Financials were mixed as near-term monetary tightening
fears weighed, but the demand for loan outlook was seen higher
on the back of robust economic growth.

A Reuters poll showed the central bank was likely to raise
rates more aggressively in the rest of the fiscal year, after
tightening policy more than expected on Tuesday.
[ID:nBMA008098]

Top lender State Bank of India (SBI.BO) dropped 1.2 percent
while rivals ICICI Bank (ICBK.BO) and HDFC Bank (HDBK.BO) were
up 0.1 percent and 0.2 percent respectively.

Foreign funds have invested $9.2 billion in Indian equities
so far this year and has helped the benchmark index gain 2.6
percent in the period.

In the broader market, gainers and losers were almost equal
in number on volume of 113 million shares.

The 50-share NSE index .NSEI was down 0.2 percent at
5,387.25.

Elsewhere, the MSCI’s measure of Asian markets other than
Japan .MIAPJ0000PUS was barely changed while Japan’s Nikkei
.N225 was down 0.7 percent.

STOCKS ON THE MOVE

* HCL Technologies (HCLT.BO) was up 2.8 percent at 383.25
rupees after the software services firm said quarterly net
income rose marginally as demand for outsourcing increased.
[ID:nSGE66R0DZ]

* Hexaware Technologies (HEXT.BO) dropped 1.5 percent to
83.40 rupees as its April-June net profit slumped 63.5 percent.
[ID:nBMB011147]

MAIN TOP THREE BY VOLUME

* Aster Silicates (ASTS.BO) on 9.5 million shares

* Karuturi Global (KART.BO) on 4.2 million shares

* Shree Ashtavinayak (SACV.BO) on 2.3 million shares

FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bond report
[IN/]
* Euro dips vs yen on Japan exporter selling
[FRX/]
* Oil steady near $77 after sharp US petroleum stocks gain
[O/R]
* Asia shares retreat from highs, dollar dips
[MKTS/GLOB]
* Wall St falls on economic outlook
[.N]
* For closing rates of Indian ADRs

UPDATE 1-Saudi Dar Al-Arkan Q2 net falls on lower land sales

RIYADH, July 20 (Reuters) – Saudi-based real estate developer Dar al-Arkan 4300.SE said second-quarter earnings fell by almost 30 percent on declining sales of building-ready land, its main revenue source.

Second-quarter net profit was broadly in line with analysts forecasts at 437 million riyals ($117 million), down 29.3 percent from 618.3 million riyals a year earlier, Saudi Arabia’s largest property developer by market value said in a statement to the Saudi bourse.

Analysts surveyed by Reuters had expected on average net profit of 431 million riyals.

“The decline in second-quarter net profit… is due to a decrease in the areas of sold land,” the company said without giving any figures.

Land sales generate the the bulk of revenues and profit for the firm: They accounted for 90 percent of its revenues during the first quarter and 96 percent of its gross profit for the period.

The repercussions of the global financial crisis have led to a drop in the amount of liquidity that goes into land speculation in Saudi Arabia, resulting mainly in a decline in the volume of transactions, industry sources say.

By end-June, earnings per share fell to 0.77 riyals down from 0.97 riyals a year earlier while net operating income fell 26.4 percent to 492 million riyals. (Reporting by Souhail Karam; Editing by Andrew Callus)

Reliance Ind. close to selling Mumbai plot-report

June 27 (Reuters) – Reliance Industries Ltd (RELI.BO), India’s largest listed company, is close to selling a 2.5 acre (1 ha) commercial plot at Mumbai’s Bandra Kurla Complex to property developer Wadhwa Group, the Business Standard paper said on Sunday.

Energy

The deal is expected to be around 10 billion rupees ($215 million) in size, and will take a month to conclude, the paper said, citing a person involved with the talks.

The plot is part of the 18.5-acre piece of land Reliance Industries had bought in 2006 from Mumbai Metropilitan Regional Development Authority for 11.04 billion rupees in an auction, the paper said.

Reliance Industries is also in the running for a service contract from Petroleos Mexicanos, the national oil company of Mexico, for the latter’s new refinery project, the Business Line paper said on Sunday, quoting Mexico’s Secretary of Energy, Georgina Kessel Martinez. ($1= 46.2 rupees) (Reporting by Aniaruddha Basu; Editing by Ron Popeski)

Socialite bequeaths “30 pieces of silver” to daughters as “blood money”

Melbourne, April 26 (ANI): A former mayor is said to have bequeathed each of her daughters with “30 pieces of silver of the lowest denomination of currency” or 30 five cent pieces, claiming it was “blood money due to Judas”.

Valmai Roche, who died last year, aged 81, left 1.50 dollars from her 3.5 million dollars estate to each of her daughters, as she believed that they had conspired over the death of her mother, reports News.com.au.

According to the Advertiser, two of Roche’s daughters say their mother was “delusional” and they are challenging her will in the South Australian Supreme Court.

Roche left the same amount to her ex-husband, John Roche, a former property developer who was Adelaide City Council Lord Mayor from 1975-77.

Before her death, Roche’s mother, Dorothy Maud Haber, was being cared for in a nursing home. The documents do not say how or when she died.

The daughters, Deborah Hamilton, Fiona Roche and Shauna Roche, were also left equal shares in their mother’s jewellery, on condition they read and correctly answered questions related to her personal diaries from January, 1974, until the date of her will, which was signed in October 1981.

The will left the remainder of her estate to the Knights of the Southern Cross – a Catholic charity for men.

Roche also “specifically excludes” her children and former husband “from any further benefits” because her daughters “have been adequately provided for . . . and because of their estrangement” during her later years.

She made only one addition to her will. In 1987, she left a French Empire style desk to daughter Fiona.

Documents before the court do not provide a formal valuation of Roche’s estate, but it is estimated at 3.5 million dollars.

Hamilton, who alleges her mother held “fixed, false and incorrigible views”, also said her mother’s “delusions” rendered her incapable of “making a reasonable and proper disposition of her estate”, making her will invalid.

The matter returns to court next month. (ANI)

Socialite bequeaths “30 pieces of silver” to daughters as “blood money”

Melbourne, April 26 (ANI): A former mayor is said to have bequeathed each of her daughters with “30 pieces of silver of the lowest denomination of currency” or 30 five cent pieces, claiming it was “blood money due to Judas”.

Valmai Roche, who died last year, aged 81, left 1.50 dollars from her 3.5 million dollars estate to each of her daughters, as she believed that they had conspired over the death of her mother, reports News.com.au.

According to the Advertiser, two of Roche”s daughters say their mother was “delusional” and they are challenging her will in the South Australian Supreme Court.

Roche left the same amount to her ex-husband, John Roche, a former property developer who was Adelaide City Council Lord Mayor from 1975-77.

Before her death, Roche”s mother, Dorothy Maud Haber, was being cared for in a nursing home. The documents do not say how or when she died.

The daughters, Deborah Hamilton, Fiona Roche and Shauna Roche, were also left equal shares in their mother”s jewellery, on condition they read and correctly answered questions related to her personal diaries from January, 1974, until the date of her will, which was signed in October 1981.

The will left the remainder of her estate to the Knights of the Southern Cross – a Catholic charity for men.

Roche also “specifically excludes” her children and former husband “from any further benefits” because her daughters “have been adequately provided for . . . and because of their estrangement” during her later years.

She made only one addition to her will. In 1987, she left a French Empire style desk to daughter Fiona.

Documents before the court do not provide a formal valuation of Roche”s estate, but it is estimated at 3.5 million dollars.

Hamilton, who alleges her mother held “fixed, false and incorrigible views”, also said her mother”s “delusions” rendered her incapable of “making a reasonable and proper disposition of her estate”, making her will invalid.

The matter returns to court next month. (ANI)

Australia Lend Lease retail share sale 46 pct covered

SYDNEY, March 29 (Reuters) – Australian property developer Lend Lease (LLC.AX) said on Monday the retail portion of a A$806 million ($729 million) rights issue was 46 percent covered and the balance would be sold Monday through a bookbuild process.

Financials

The company last month launched a deeply discounted rights offer to finance new projects and stop its credit rating falling into junk status.

Lend Lease is offering five new shares for every 22 held at A$7.70 apiece. RBS and Merrill Lynch are underwriting the rights issue. (Reporting by Narayanan Somasundaram; Editing by Balazs Koranyi)

Opposition slams ‘objectionable’ land acquisition plan

Sweeping powers to acquire land are being considered for a new authority to drive urban renewal in Sydney.

The New South Wales Government is looking to create a new development authority to streamline planning processes for development along public transport corridors.

The authority would have the power to compulsorily acquire land and on-sell to private developers.

That is a break from current practice where land can only be compulsorily acquired for public use.

Aaron Gadiel from the Urban Taskforce, a property developer’s group, says it will help contribute to the renewal of Sydney and promote public transport use.

“The key is we do need to ensure that land holders are fully compensated,” he said.

The opposition’s planning spokesman Brad Hazzard says it is an objectionable plan.

“It should not be done. it means our home is no longer our castle,” he said.

The state’s Planning Minister Tony Kelly says the price of land and homes in Sydney will skyrocket unless housing shortages are addressed.

He says any acquisition of land would be done only if there is to be a greater community benefit.

“At the moment it’s too difficult to consolidate those small parcels of land to make it economical to actually develop the land, to provide this housing for the future,” he said.

“So this is one of the options being considered by the government.”

The Premier Kristina Keneally says any move to allow compulsory land acquisition for development will have appropriate safeguards.

Lake Macquarie considers airport investment

The Mayor of Lake Macquarie says he supports Newcastle airport remaining in community ownership but he would have to be convinced of the benefits of investing in the facility.

Last night, Newcastle councillors agreed to a $10 million loan to finance future growth at the airport, which is jointly owned by Newcastle and Port Stephens councils.

Councillors also agreed to approach other Hunter councils to invest and Lake Macquarie Mayor Greg Piper says it is something that could be considered.

“We would generally invest in quite secure and reliable investments and we would have to be convinced of the business case to do that. So it is something we would consider I think, but no indication at this stage that we would be likely to invest in the regional airport,” he said.

But Hunter property developer Hilton Grugeon says the poor management performance of local councils is proof that they should get out of managing Newcastle airport.

Mr Grugeon says the airport will need a lot more money and he is doubtful Newcastle and Port Stephens councils will be able to meet the investment demands.

“When you look at the poor records these councils have in managing their own business, cast your mind back to the rock on the esplanade, why would you have them investing our money, ratepayers’ money into a business that they don’t need to be there?” he said.

China Vanke sees 2010 contracted sales up 20-30 pct

HONG KONG, Mar 1 (Reuters) – China Vanke (000002.SZ), the
country’s largest listed property developer, said on Monday it
expected contracted sales to rise at least 20 to 30 percent this
year from 2009′s 63.4 billion yuan ($9 billion).

Vanke’s executives made the forecast during a news conference
to announce its 2009 results.

Fourth-quarter net profit at Vanke Co Ltd (200002.SZ) rose 35
percent, beating forecasts, as residential sales picked up
strongly.
($1=6.825 Yuan)

Brit woman thinks she has finally found Mr. Right in sixth hubby!

London, Sep 11 (ANI): A Brit woman, who has spent 31-years looking for Mr Right, thinks that she has finally found him in her sixth husband.

Lady Rosemaris Chanie-Cridge, 50, a former dancer and actress, saw her five previous marriages last between 18 months and ten years, with her choices ranging from a wealthy property developer to a Texan Marine named Butch Gayheart.

Now, Lady Rosemaris, who has kids Sabrina, 23, Krystle, 24, and 14-year-old Joshua by two different men, says that she has found her true love in plumber Gary Cridge, 40, who she met last year when he came to fix her washing machine.

“I really have found my Mr Right after all these years. Each time I thought the marriage was going to last. I said my vows with sincerity,” the Sun quoted her as saying.

She met her first husband, 25-year-old Michael Robins, at the age of 17 and they wed two years later.

“He was extremely attractive, I fell in love immediately,” she said.

They had a church wedding in Ealing, West London, in 1978, but the marriage broke down after two years.

“I was devastated – I thought that marriage was for life. My parents split up when I was three. I became obsessed with the idea that my marriage would be different,” she said.

She then wed former Marine Harry ‘Butch’ Gayheart, 25, in 1983 but split after two years.

“He proposed after a month. He was so romantic and seemed to offer the love I craved,” she recalled.

Property developer Gordon O’Shea, 40, became her third husband, but the marriage did not last when he decided to give his money away and go to Africa to work as a missionary.

They divorced in 1989 after 18 months of marriage.

Lady Rosemaris met Goran Koroliga at a cocktail party in LA and they wed in 1990, but split after two years.

Her fifth marriage, to Max Jesson in 1997, lasted a decade and left her “absolutely devastated” when it ended.

But Lady Rosemaris, of Banstead, Surrey, believes her new love will last forever after marrying Gary in May.

“I told him about my past. A lot of men would have felt intimidated, but it didn’t matter to him,” she said.

“When I said my vows, they seemed extra special. I always knew true love was out there. I’ve finally found the man of my dreams,” she added. (ANI)

Muralitharan to play Twenty20 cricket for Queensland Bushrangers

Melbourne, Aug.27 (ANI): Champion Sri Lankan off-spinner Muthiah Muralitharan will join West Indian Dwayne Bravo as the Queensland Bushranger’s second international recruit for the national Twenty20 competition.

While both players are not eligible to play in October’s Champions League international Twenty20 tournament and are committed only for this season’s month-long Big Bash, they would be eligible to turn out at next year’s Champions League if the team qualifies, reports Fox Sports.

In addition, the 37-year-old off-spinner could reshape Victoria’s Twenty20 bowling attack, which in recent seasons has been well-served by the likes of pacers Dirk Nannes, Shane Harwood and Clint McKay.

“It could be an all-spin attack, because really we’ve got [Brad] Hodge and [David] Hussey, [Cameron] White, Murali and also [Jon] Holland and [Bryce] McGain,” coach Greg Shipperd said.

The Bushrangers have also overcome the loss of long-time major sponsor Carlton and United Breweries with a three-year agreement with Dubai-focused property developer Dheeraj and East Coast (DEC). (ANI)

Nina Wang’s alleged lover claims her multi-billion-dollar fortune

London, June 30 (ANI): A man claiming to be the lover of Asia’s richest woman, Nina Wang, has insisted that a will that left her multi-billion-dollar fortune to him was not a forgery.

The document is at the centre of a high-profile court battle over the estate of one of Hong Kong’s most colorful personalities, Sky News reports.

Businesswoman Nina Wang, who died at age 69 of cancer in 2007, was ranked in Forbes magazine as the world’s 204th richest person with a fortune of 4.2 billion dollars.

Feng shui adviser Tony Chan, 49, said he and Wang were lovers and she left her money to him out of genuine affection in a 2006 will.

However, a foundation set up by Wang and her late husband has staked a claim to her estate under a separate will made in 2002.

During a testy court hearing, the foundation’s lawyer Lawrence Lok asked Chan if he concocted the will himself or had someone else do so on his behalf.

“Absolutely not. You’re wrongly accusing me. I never thought she would do that. She really loved me very deeply,” he added.

In the years before her death, Wang gave Chan a total of 266 million dollars in 2005 and 2006.

“It was really a gift. Because I feel that she really loved me, that’s why she gave me the money. She had always been giving me money,” Chan said.

He said his relationship with Wang started in 1992, but he kept it secret from everyone except his wife.

Wang inherited her husband’s fortune after an eight-year court battle against her father-in-law. Her husband was abducted in 1990 and, despite the family paying 20 million pounds in ransom, he was never released and his body never found.

Wang went on to build her husband’s company, Chinachem, into a massive property developer. (ANI)

HK shares expected to drop with banks seen hard-hit

HONG KONG, April 21 (Reuters) – Hong Kong shares are expected
to drop on Tuesday amid a global sell-down in banking stocks
after Bank of America (BAC.N) raised concerns about credit
quality deterioration.

The stock plunged more than 24 percent on Monday despite
reporting a rise in profit for the first quarter as its chief
executive warned the bad credit environment was getting worse.

American depository receipts (ADRs) in Hong kong-listed
companies joined the slump on Wall Street overnight with global
lender HSBC (HBC.N) (0005.HK) sliding 7.7 percent, while China
Mobile (CHL.N) (0941.HK), which reported a 5.2 percent increase
in its first quarter net profit on Monday, sank 4.5 percent.

The benchmark Hang Seng Index .HSI closed 1 percent higher
at 15,750.91 on Monday as Chinese stocks led the charge on
expectations of improved corporate earnings in 2009

STOCKS TO WATCH-

* Enric Energy Equipment Holdings (3899.HK), which had
previously made a takeover offer with CIMC Hong Kong for Target
Co China, has reduced its offer for Target Co China to HK$3 per
share from HK$4.49 per share, citing market conditions and
economic environment. For statement please click
here

* China National Resources Development Holdings (0661.HK) on
Tuesday said it had discovered 400,000 tonnes of copper reserves
in its mine in Xinjiang and 500,000 tonnes in the northern and
southern copper belts. For statement please click
here

* Chinese property developer Beijing North Star (0588.HK)
said its first-quarter net profit rose to 171.3 million yuan,
compared with 84.5 million yuan a year earlier. For statement
please click
here

* Xinjiang Xinxin Mining Industry Co (3833.HK) said it had
agreed to acquire a 57 percent equity interest in Zhongxin Mining
for 33.1 million yuan from Xinjiang Investment and Development
(Group) Co . For statement please click
here
———————-MARKET SNAPSHOT @ 2247 GMT ————

INSTRUMENT LAST PCT CHG NET CHG
S and P 500 .SPX 832.39 -4.28% -37.210
USD/JPY JPY 98.04 0.08% 0.080
10-YR US TSY YLD US10YT 2.8562 — 0.000
SPOT GOLD XAU 884.05 -0.01% -0.100
US CRUDE CLc1 45.8 -0.17% -0.080
DOW JONES .DJI 7841.73 -3.56% -289.60
ASIA ADRS .BKAS 95.58 -4.00% -3.98
————————————————————-

MARKETS SUMMARY
*Wall St sinks on banks’ woes; IBM drops late [nN20421816]
*Oil drops over 8 pct on economic outlook, dollar [nSYD428032]
*Increased anxiety lifts dollar, euro slumps on ECB [nN20408601]
*Treasuries rally as bank fears clobber Wall Street [nN20563843]

(Reporting by Parvathy Ullatil; Editing by Chris Lewis)

J.Lo sets her sights on deluxe hotel in Miami

New York, Apr 15 (ANI): Singer-actress Jennifer Lopez has set her sights on yet another property, as she is contemplating buying a deluxe hotel in downtown district of Miami.

She and husband Marc Anthony checked out suites at the Icon Brickell property, home to the Viceroy Miami.

Jorge Perez, the property developer who showed them around, revealed that Jennifer liked the property so much that she was thinking of making it her own in the near future.

“Jennifer saw Jorge’s condo and loved it so much that she’s considering combining a couple of units to make one big apartment as a weekend getaway,” the New York Daily News quoted Jorge as saying.

Jennifer already owns two homes on the Long Island and Star Islnad in Miami. (ANI)

Mountaineer Edmund Hillary’s home sold for 1.9 million dollars

Auckland (New Zealand), Mar.18 (ANI): The Auckland home the legendary mountaineer Sir Ed Hillary has been sold at an auction for 1.9 million dollars.

Auckland property developer Graham Wall purchased the home in which Hillary lived in for over 50 years.

Wall told media he was not buying the property for himself but on behalf of a client, who he refused to identify.

He said he had “no idea” what the new owner would do with the property.

The two-storied house at 278A Remuera Road had been expected to sell for over two million dollars this afternoon.

The house had a government valuation of 1.93 million dollars but zoning restrictions allowed only one unit to be built on the 1738sq m site, the NZPA reports.

The auction came as Auckland Mayor John Banks said his plan to move the home Sir Ed built and set it up at the Museum of Transport and Technology (MOTAT) will not happen.

Sir Edmund died last year and under the terms of his will the mountain of chattels and memorabilia have been disbursed among the family and the Auckland War Memorial Museum.

The will also said the house should be sold and the proceeds used for his family and charities.

Any plans to turn the house into a museum would be handicapped by it being down a long step right-of-way shared with two other houses.

The house is of a simple 1950/60s look and has none of the character Sir Ed and family put into it.

Out front, in the view out to the Waitemata Harbour, is a tree Sir Ed planted. The now large Himalayan pine tree is protected. (ANI)

UK businessman buys Ronaldo’s number plate, willing to sell it for 150K pounds

London, Jan.20 (ANI): A British businessman has said that he has snapped up Manchester United football star Cristiano Ronaldo’s ideal car number plate, and is keen to treble is earnings from it.

Man United’s Portuguese ace actually made a bid for the registration CR7, which combines his initials and shirt number. But the deal collapsed. Property developer Russell Baldwin, 49, then stepped in to buy it for 50,000 pounds, reports The Sun.

Ronaldo, 23, had planned to fit the plate on his 140,000-pound silver Bentley convertible, but Russell has now put it on a 1996 Ford Escort worth 300 pounds.

Russel believes wealthy Man United fans would pay 150,000 pounds for the plate – but he’d rather sell it to the player. (ANI)