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...after militants with suspected ties to Iran and Syria bombed the U.S. embassy and the Marine base in Beirut, Reagan abruptly withdrew the soldiers and abandoned Gemayel. Syria forced Gemayel to abrogate his deal with Israel, and Hizballah, the Lebanese Shiite Muslim group founded by Iran, began a guerrilla war that eventually forced out the Israelis in 2000. That triumph that made Hizballah the most powerful faction in Lebanese politics, enabling it to trigger this summer's war with a cross-border raid into Israel and more recently threaten to topple Siniora's government...
...Dealogic, which tracks global M&A activity, Indian companies this year have spent twice as much on overseas acquisitions as foreign companies have invested in India. "There is a real bullishness" among the leaders of Indian industry, says Sabeer Bhatia, the Indian-born co-founder of Hotmail, the Web-based e-mail system acquired by Microsoft in 1997. "Every single Indian CEO is looking outwards to see how he or she can expand their own base and expand into newer markets...
...slowly open up the economy. Anticipating an eventual onslaught from outsiders, the country's more far-sighted industrialists decided to modernize their operations. As a result, the most efficient businesses were able to reap outsized profits as India's economic growth began to accelerate, explains Delphine Cavalier, a Paris-based economist at BNP Paribas, which has advised Indian companies on M&A activity in Europe. "Today, with competition now mounting in India, those same groups are seeking to protect that profitability by taking their activity abroad, knowing that continued economic growth in India will provide a strong base for years...
...large, complex organizations. "They're not like start-ups," says Bhatia, "so they say, 'you know, our balance sheet is actually stronger than some of our counterparts in London, or Europe, or America. We might as well buy these brands and make use of our low-cost manufacturing base to branch out into other markets outside of India...
...access and certain advanced technologies." It's much faster to buy what you need than spend years building it up yourself. By purchasing Corus, for example, low-cost steel producer Tata Steel hopes to get access to technology to make more sophisticated products, as well as a European client base. By bidding for Daewoo, Videocon seeks a foothold in East Asian markets and an extended global marketing-and-sales network. There are other compelling reasons to go abroad. International exposure may be essential for Indian companies to maintain high sales-growth rates. Because of a host of problems at home...