Monsoon in India

Last year there was drought in India. This year monsoon will begin with a erratic note.

The waters in Indian Oceans are warmer warning that monsoon in India may not be so good, the waters in Pacific Ocean around the equator are cooler indicating a fantiastic monsoon.

However, the monsoon will begin in July and will speed up in August and September. The monsoon will be normal but to clear forecast can be in May only.

Experts say that plantings could begin later then normal as the farmers would want to see some consistent rains first. There will be a normal monsoon for all South Asia.

In jun-Sep most of the rainfall of the season is received in almost all over india. But that of monsoon arrival is of importance for commercial crops.

The share of agriculture in India's overall economic output has fallen significantly in past few years.

Baseball Team for Sale

The Club's creditors may not accept the proposed sale of the Texaz Rangers baseball team to Hall of Fame Pitcher Nolan Ryan and attorney as agreed in Jan. The team owner Thomas Hicks may be bankrupt unless the terms approved or another buyer is not found. 

The major creditor Monarch Alternative Capital may block Hicks Sports Group LLC, which defaulted on $525 million of debt last year. 

Hicks was a chairman of private equity firm Hicks, Muse, Tate and Furst Inc from 1989-2004. He is being forced to sell the frenchise at the signed amount of $252 million. 

Hicks is also intending the sale of 18-time English soccer champion Liverpool, which is co-owned by him. He is also exploring a possible sale of the Dallas Stars of the National hockey League.

Negotiations with creditors are onging and resolution could be reached. If creditors block the sale and pursue a bankruptcy filing, the club will be the second major league team to enter bankruptcy within  a year. In October, the Chicago Clubs joined owner Tribune Co. in Chapter 11 as part of that team’s sale. Hicks can't sell the team without creditor's approval. 

Hicks cut the deal with a separate sale of 153 acres of land, ballpark for cash, notes and a stake in the team.

Citigroup’s Mark Robinson Said to Quit as CEO of South Asia

Citigroup Inc.’s South Asia CEO Mark Robinson has quit after less than 18 months in the position.

Robinson will be replaced by Pramit Jhaveri, head of global banking at Citigroup’s Indian unit and vice chairman for Asia investment banking, Robinson will be CEO of South and South East Asia for Australia & New Zealand Banking Group Ltd.

Jhaveri will take the helm at Citigroup’s India unit as the U.S. company aims to remain the top-ranked manager of share sales in the nation for a second straight year. 

The U.S. company, which has operated in India for more than 100 years, is likely to announce the move by next week. Robinson took over as South Asia head for Citigroup in November 2008, replacing Sanjay Nayar, who left to join Kohlberg, Kravis, Roberts & Co. Robinson had been with the U.S. company for more than 25 years, and had previously overseen operations in Russia.

Robinson, who resigned in the first week of March, will oversee operations in 10 countries including India for ANZ.