Bizbits

Dow closes above 10,000
New York: The Dow Jones Industrials closed above the 10,000 level for the first time on Monday, marking a milestone in the eight-year bull market. Blue-chip stocks surged 184.54 points, or 1.88, to 10006.78, in a broad advance driven by oil and financial stocks. The average stands more than 300 above its level of October 1990, reflecting both rare economic health and rich valuations. An unprecedented mix of low interest rates, robust earnings and a roaring US economy has provided the fuel for the Dow8217;s rise to 10,000.

Kleinwort Benson8217;s new India chief
Mumbai: Drsdner Kleinwort Benson DrKB has announced two key appointments to the global equities business line. Christopher Barrow, currently the MD of Dresdener Kleinwort Benson Securities India will be returning to the UK in April to take up a key position in London. The move follows a 2-year term in India, during which time Christopher has established a strong Indian equities presence.Christopher, who will remain a director of Indian securities company after his move to London will be replaced in India by Richard Wallance who is now head of the securities unit in Korea.

CNG compressors to go on stream
Mumbai: Canada8217;s Consul and Trade Commissioner in Mumbai, Ron bOLLMAN, will inaugurate one of three Canadian built compressed natrual gas CNG compressors on Wednesday at the city gate petrol pump near Anik Depot in Wadala, Mumbai. The state-of-art CNG compressors have been supplied by Canada8217;s Jordair Compressors Inc to Mahanagar Gas Ltd.

CA to purchase Platinum for 3.5 bn
New york: In one of the largest transactions in the software industry, infotech major Computer Associates International CA will acquire US-based Platinum Technology through a cash tender offer valued at over 3.5 billion. CA will purchase all outstanding shares of Platinum8217;s common stock for 29.25 per share.