Rupee Will Strengthen as India's Imports Cool, Bank of America Predicts India’s rupee is likely to strengthen 6 percent this quarter as slower economic growth and cheaper oil reduce the nation’s imports, helping narrow the current-account deficit, Bank of America Corp. said.
Most Asian Stocks Advance on Government Efforts to End Crisis; Rio Gains Most Asian stocks advanced, led by commodity and finance companies, amid optimism government efforts to end the credit crisis will bolster corporate earnings.
Government Bonds Advance on Speculation Indian Central Bank to Cut Rates India’s 10-year bonds gained on speculation the central bank will cut interest rates next week as economic growth and inflation slow.
Jet Airways Shares Surge After Forecast of Profit Return, Funds Raised Jet Airways (India) Ltd., the nation’s largest domestic carrier, gained the most in more than two months in Mumbai trading after the airline forecast a return to profit and raised funds.
Rupee Strengthens For a Second Day on Speculation Fund Outflows Will Slow India’s rupee rose for a second day on optimism government measures to contain the damage from the alleged $1 billion accounting fraud at Satyam Computer Services Ltd. will help restore investor confidence.
Asia-Pacific Corporate Bond Risk Declines, Credit-Default Swap Prices Show The cost of protecting Asia-Pacific bonds against default fell as a U.K. government proposal to insure lenders’ toxic assets and a U.S. bailout of Bank of America Corp. helped boost investor confidence.
Indian Metal Stocks Rise, Led by Sterlite on Demand Optimism; Autos Fall India’s Sensitive Index rose for a second day. Commodity producers advanced after metal prices gained on optimism stimulus packages by the U.K. and the U.S. will help economies ride out the global recession.
Brown Tightens Grip on Financial System, Hands BOE Power to Buy Securities Prime Minister Gordon Brown’s government tightened its grip on Britain’s financial system, guaranteeing toxic assets and giving the Bank of England unprecedented power to buy securities.
EU Reverses Growth Forecast, Predicts First Contraction in History of Euro The euro-area economy will contract this year for the first time since the currency was introduced a decade ago, the European Commission forecast, cutting its outlook for the region.
Obama Advisers Say They Will Focus on Widening Credit in Use of TARP Funds Top advisers to President-elect Barack Obama signaled they will emphasize getting credit to consumers and businesses rather than helping banks as the new administration deploys the second half of the $700 billion rescue fund.
Spain's Debt Downgraded by S&P as Slump Leads to Bulge in Budget Deficit Spain had its AAA sovereign credit rating removed by Standard & Poor’s in the second downgrade of a euro-region government in five days, as the country’s first recession in 15 years swelled the budget deficit.
Stocks in Europe, Asia Rise as Governments Broaden Steps to Ease Recession Stocks in Europe and Asia climbed, sending the MSCI World Index to its second straight day of gains, on speculation U.S. and U.K. government plans to spur lending will prevent the recession from worsening.
Morgan Stanley Hires Supertanker to Store Crude Oil in the Gulf of Mexico Morgan Stanley hired a supertanker to store crude oil in the Gulf of Mexico, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from higher prices later in the year, two shipbrokers said.
source: Bloomberg
