India's Economy May Expand 7.1% This Year, at Weakest Pace Since 2003 India’s economy may grow at the slowest pace since 2003 this year, undermining Prime Minister Manmohan Singh’s re-election bid in two months.
Sensex Advances to Highest in a Month on India Growth Forecast, Banks Gain Indian stocks rose to the highest in a month, led by ICICI Bank Ltd. and other lenders after the government forecast the economy will expand more than economists predicted and the central bank suggested interest rates may drop.
Bonds Due 2018 Drop Before Government, RBI Meeting on Additional Borrowing India’s bonds dropped as concerns mounted that the government will increase debt sales to meet additional expenditure as the economy expands at the slowest pace in six years.
India's Finance, Central Bank Officials to Meet Tomorrow on Borrowings Indian finance ministry and central bank officials will meet tomorrow to discuss additional borrowings for the current fiscal year, Economic Affairs Secretary Ashok Chawla said in New Delhi today.
Piramal Healthcare Rises in Mumbai on Report of Glaxo Acquisition Interest Piramal Healthcare Ltd. rose in Mumbai trading after a report said GlaxoSmithKline Plc is interested in buying the Indian maker of generic drugs.
Rupee Strengthens a Fifth Day as Stocks Advance May Attract Foreign Funds India’s rupee rose for a fifth day, its longest winning streak in almost two months, as stock gains fueled optimism funds will return to buy the nation’s assets.
Oil & Natural Gas to Hire Deepwater Drilling Rigs to Speed Up Exploration Oil & Natural Gas Corp., India’s biggest oil producer, has invited bids to hire deepwater drilling equipment in contracts that may cost about $700 million a year as it speeds up exploration plans. The shares rose.
Geithner Aims to Bring in Private Investment in Plan for Toxic Bank Assets Treasury Secretary Timothy Geithner is seeking to draw investors into the U.S. financial-rescue program, aiming to add private funding as a new component of proposals to address the toxic debt clogging banks’ balance sheets.
General Motors, Chrysler May Be Placed in Bankruptcy to Protect U.S. Loans General Motors Corp. and Chrysler LLC may have to be forced into bankruptcy by the U.S. government to assure repayment of $17.4 billion in federal bailout loans, a course of action the automakers claim would destroy them.
U.S. Stocks Fluctuate as Insurers, Energy Producers Rise; Whirlpool Falls U.S. stocks drifted between gains and losses as speculation the government will aid Hartford Financial Services Group Inc. spurred a rally in insurers and higher oil prices lifted energy shares, offsetting declines in consumer companies.
Barclays Second-Half Profit Beats Estimates as Lehman Makes `Strong Start' Barclays Plc reported second-half profit that exceeded analysts’ estimates, and President Robert Diamond said the investment bank had an “extremely strong” start to 2009 after buying Lehman Brothers Holdings Inc. assets.
Central Bankers Surrender Independence as Global Crisis Defeats Rate Cuts The global financial crisis is forcing the world’s central bankers to surrender some of their prized independence. Regaining it won’t be easy.
Amazon to Sell $359 Kindle 2 Electronic Book With Stephen King Exclusive Amazon.com Inc., the world’s largest Internet retailer, introduced a new version of the Kindle, the electronic book reader that’s sold out two years in a row.
Goldman Chief Blankfein Says Banks Shouldn't Abandon Mark-to-Market Rules Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said the financial industry shouldn’t abandon the “mark-to-market” accounting rules that some banks blame for aggravating global economic woes.
source: Bloomberg
