India to Sell $9.44 Billion of Additional Debt to Fund Stimulus Packages India’s government will sell 460 billion rupees ($9.44 billion) of additional debt in four parts between Feb. 20 and March 20, Economic Affairs Secretary Ashok Chawla said in New Delhi today.
Sensitive Index Climbs for a Third Day on Speculation India May Cut Rates Indian stocks rose for a third day, as ICICI Bank Ltd. led lenders higher after a government adviser said the central bank may cut interest rates to spur the economy.
India Iron-Ore Prices May Double to $90 a Ton on China Revival, Group Says India’s iron-ore export prices are expected to double from last year’s low as China, the world’s biggest steel producer, raises purchases, an industry group said.
Rupee to Advance as India's Growth Withstands Global Slump, Westpac Says India’s rupee will strengthen 1 percent to 48 per dollar this year as the nation’s economic growth withstands a global slump, Westpac Banking Corp. said.
India Evaluating Technical Aspects of Lockheed, Boeing's Fighter Jets Bid India’s government is evaluating bids by Lockheed Martin Corp., Boeing Co. and four other companies to supply 126 fighter jets worth $11 billion in the largest military contest in play worldwide.
Hailstorm May Hit India's Wheat Areas, Damaging Crops, Weather Bureau Says Hailstorms may lash the main wheat- growing regions in India, the world’s second-biggest producer, threatening crop prospects, the weather bureau said.
Asian Material, Consumer Stocks Fall After Obama Says U.S. Faces `Crisis' Asian stocks fell for a second day, led by materials and consumer companies, as Japanese bond risk at a record and signs of declining profit countered optimism that U.S. stimulus measures will ease the financial crisis.
Ten-Year Bonds Extend Loss as Debt Sales For Stimulus More Than Estimated India’s bonds extended losses after the government said it will sell 460 billion rupees ($9.44 billion) of additional debt in four parts between Feb. 20 and March 20 to fund economic stimulus packages.
UBS to Eliminate Jobs, Predicts Return to Profit in 2009 After Record Loss UBS AG, Switzerland’s largest bank, plans to eliminate an additional 2,000 jobs at its securities unit and expects to be profitable in 2009, after posting a record loss last year.
Obama Signals U.S. Open to Expanding Financial Rescue to Restore Stability President Barack Obama signaled he would be open to seeking an expansion of the $700 billion financial-rescue program should the plan fail to restore stability to the U.S. banking system.
Geithner Bank Rescue May Determine Effectiveness of Economic Stimulus Plan The unprecedented stimulus package that President Barack Obama is trying to wrestle through Congress may end up being wasted unless the administration can find a way to restart stalled credit markets.
Russian Regional Banks Seek Government Role in Talks on $400 Billion Debt Russian regional lenders asked the government to moderate talks initiated by foreign financial firms concerned that banks and companies will struggle to repay some of the $400 billion of debt due in the next four years.
Fannie, Freddie May Need More Than $200 Billion in U.S. Aid, Lockhart Says Fannie Mae and Freddie Mac, the mortgage-finance companies seized by regulators, may need more than the $200 billion in funding pledged by the U.S. government if the housing market continues to deteriorate, Federal Housing Finance Agency Director James Lockhart said.
Schaeffler Said to Consider Debt-for-Equity Swap Should German Aid Falter Schaeffler Group, the bearings maker strained by 11 billion euros ($14 billion) in debt from buying Continental AG, may consider a debt-for-equity swap if it fails to get German government aid or other fresh capital, people close to the talks said.
source: Bloomberg
