Asia Bizz » investment http://asiabizz.com Uncovering Asian Business, Technology & Finance Sat, 04 Feb 2012 16:25:04 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 AFII joins French Hotel Development Consortium http://asiabizz.com/1196/afii-joins-french-hotel-development-consortium/ http://asiabizz.com/1196/afii-joins-french-hotel-development-consortium/#comments Wed, 03 Mar 2010 09:28:49 +0000 sharjil s http://asiabizz.com/?p=1196

AFII has joined a French Consortium developing luxury hotel projects in France and Belgium.

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AFII Corporate Advisors Limited, an Indian boutique investment bank, will be supporting investments into the projects being adopted by the group that include some prime assets in France and Belgium with current projects of over €500 Mn.

AFII intends to tell the India Story through these developments and is in talks with some major Indian Operators for designing and managing these properties. Other members in the consortium include Redman Capital and Naos Groupe from France.

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Indian shares snapped a two-day falling streak to close 0.8 percent higher on Saturday buoyed by overnight gains on Wall Street, but BSE investors remained cautious about European debt and the global recovery.

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The Bombay Stock Exchange benchmark Sensex resumed higher by 142 points and touched an intraday high of 15,951.07 points before ending at 15,915.65, a net rise of 124.72 points or 0.79 per cent from its last close, when it crashed by 434 points on global cues.

Significantly, all the sectoral indices ended in the green, with the worst hit sectors in the past two sessions– realty, metals, oil & gas and IT counters– leading the rally.

The National Stock Exchange’s 50-share Nifty also shot up by 38.60 points or 0.82 per cent to finish at 4,757.25 from its previous close, after opening over 42 points.

US stocks rose yesterday on speculation that the European Union may propose a solution for Greece’s budget deficit. The Dow Jones Industrial Average closed flat after rising 163 points intraday due to last hour profit booking, while Nasdaq gained 0.74 per cent andthe S&P 500 0.29 per cent.

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