In the US, the America Online-Time Warner deal, valued at $160 billion, led the charge to a 64 per cent volume increase which was totally valued at $578 billion. What is noteworthy is that, while deals, in value terms, represented a huge jump, the total number of deals slumped to its lowest level since the third quarter of 1995 as a result of the drop in value of the "old economy" stocks. This drop in market value, however, saw an increase in management buyouts and companies going private. The total number of companies going private increased fivefold, totally valued at $10.3 billion, up from $1.88 billion in the first quarter of 1999.

What also contributed to the increase in the value of the deals is the spurt of such mergers and deals in Europe. Senior financial analysts attribute this surge to the realisation in Europe that earnings growth is what will drive stock prices. And if this cannot be done organically, then mergers and acquisitions is the only way out.
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Exports record 11 per cent growth
New Delhi: Exports from India showed a 11.12 per cent growth during the period April 1999 to February 2000, representing a value of $33 billion. Due to the depreciation of the rupee, the growth in rupee terms was 14.14 per cent.

Imports in the first eleven months of fiscal 1999-2000 stood at $42 billion, representing a growth of 10.07 per cent. A large part of this increase in imports was accounted for by the increase in crude oil.
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