Shirish Apte named Citi CEO for Asia-Pacific

October 14th, 2009 NEW DELHI - Thai hotel chain Amari Wednesday said it planned to invest $44.1 million in the Asia-Pacific region by 2010 as part of its growth strategy. The group, which currently has 11 properties in key destinations across Thailand, including Bangkok, Phuket and Pattaya, plans to operate 40 more properties in Asia-Pacific by 2018.

September 23rd, 2009 Report: Citigroup to scale back US footprintNEW YORK — Citigroup Inc., one of the biggest recipients of government bailout funds, is looking to scale back its U.S. retail footprint to just six major metropolitan areas and limit most lending to wealthy customers, according to a published report.

September 11th, 2009 Fmr Merrill dealmaker to lead BofA global bankingNEW YORK — Bank of America has named Andrea Orcel, one of the bank's top remaining Merrill Lynch holdovers, as its executive chairman, Global Banking & Markets. Orcel will be responsible for strategy and working with other major corporations, along with investors and governments around the world.

September 3rd, 2009 Citi shareholders OK increase in outstanding stockNEW YORK — Citigroup Inc. said Thursday that shareholders approved a plan to increase the number of outstanding shares so it can complete a debt exchange program that gives the government a minority stake in the banking giant.

August 24th, 2009 BANGALORE - Premier Farnell, the leading multi-channel, high service distributor supporting millions of engineers and purchasing professionals worldwide, today announced that it has significantly expanded its portfolio of Tyco Electronics' lighting products in Asia Pacific as part of its successful global partnership with Tyco Electronics. In Asia Pacific, Premier Farnell will be Tyco Electronics' franchised high-service, low-volume distribution partner for over 400 lighting products.

August 18th, 2009 MUMBAI - The installation, testing and commissioning of the 6,700 km TGN-Intra Asia (TGN-IA) cable system was complete, telecom service provider Tata Communications and undersea communications technology leader Tyco Telecommunications announced Tuesday. "The fully operational 6,700 km TGN-IA system links Hong Kong, Singapore, Tokyo, Vietnam and the Philippines, providing route diversity throughout the Asia Pacific region, Tata Communications said in a regulatory statement.

August 13th, 2009 Obama to attend APEC conference in SingaporeWASHINGTON — President Barack Obama will attend a meeting of Asian and Pacific leaders in Singapore in November. White House spokesman Robert Gibbs announced the trip Thursday.

August 11th, 2009 Brightpoint shares climb after Citi upgradeNEW YORK — Shares of Brightpoint Inc. got a boost Tuesday after an upgrade from a Citi Investment Research analyst upgraded the cell phone distributor and said it should benefit from a cyclical recovery in the handset market.

July 28th, 2009 WASHINGTON - Citigroup Inc's Indian American chief executive Vikram Pandit says he hopes to continue expanding the bank's business in the two biggest engines of growth in Asia, China and India, despite tough local restrictions. The bank wouldn't retreat from fast-growing Asian businesses even as the financial crisis has forced it to shrink its balance sheet by about 25 percent, he told Wall Street Journal in an interview at Citigroup's Hong Kong headquarters Monday.

July 17th, 2009 NEW YORK — Citigroup Inc. surprised Wall Street Friday, reporting a $3 billion second-quarter profit instead of the big loss analysts expected.

July 6th, 2009 Citi names 2 senior execs to lead Asia operationsHONG KONG — Citigroup Inc. said Monday it was naming two senior executives to lead its Asia Pacific operations after the previous head of the region resigned.

June 11th, 2009 NEW DELHI - Undeterred by the slowdown, Indians continued to spend online in the last quarter of 2008 to emerge as the third highest spenders on the Internet in the Asia Pacific region, a report released Thursday by electronic payments giant VISA said. The report said Indian online shoppers increased their purchases by 42 percent, or by about $1,000 per shopper to $3,450, compared to the $2,420 spent in the previous quarter.

June 9th, 2009 NEW DELHI - Bharti Airtel, one of India's leading telecom service providers, has been adjudged the best service provider in the Asia-Pacific region by telecom research and consultancy firm Frost and Sullivan. The company has bagged top honours for overall service quality and has been adjudged the service provider of the year in the "Best of the Best" category, Airtel said in a statement Tuesday.

March 17th, 2009 WASHINGTON - Vikarm Pandit, the Indian American CEO of Citigroup, received a 2008 compensation valued at $10.8 million, the ailing bank that got billions of dollars in federal aid has disclosed. New York-based Citi disclosed in a regulatory filing Monday that Pandit, who said late last year he plans to take just $1 a year in salary until the bank returns to profitability, received $958,333 in salary last year, up from the $250,000 he received in 2007.

February 7th, 2009 HYDERABAD - The seventh Routes Asia 2009, a premier event for the airlines and airports, will be held here March 29-31. GMR Hyderabad International Airport Ltd (GHIAL) is hosting the event aimed at sustaining and developing air services.