India Reduces Cotton Production Forecast on Excess Rain, Delayed Sowing India, the world’s second-biggest cotton producer, may gather 10 percent less fiber than forecast previously after delayed sowing and excess rain damaged the crop in the nation’s biggest growing areas.
Asian Stocks Gain on Speculation Governments Will Widen Stimulus Measures Asian stocks rose for the first time in five days, led by banks and electronics companies, on optimism governments will widen efforts to end the financial crisis and revive global growth.
Gail, NTPC to Lease Out Part of India LNG Terminal on Lower Utilization GAIL (India) Ltd. and NTPC Ltd. plan to lease out part of their new liquefied natural gas import terminal in India to companies including BG Group Plc as reduced demand leads to lower utilization.
Sensitive Index Climbs on Speculation India May Cut Rates to Boost Growth Indian stocks rose, snapping a two- day decline, as ICICI Bank Ltd. led financial companies higher on expectation the central bank may cut interest rates to boost economic growth.
Indian Railways Cuts Some Passenger Fares, Unveils New Routes Before Polls Indian Railways, the state-run network that carries 15 million people daily, cut some passenger fares and unveiled new routes ahead of elections.
Tata Capital Said to Get Investors Orders for 5 Billion Rupee Bonds Sale Tata Capital Ltd., the financial services unit of India’s Tata Group, secured investor orders for 5 billion rupees ($103 million) of notes offered in its first public bond sale, a person familiar with the matter said.
Indian Rupee to Drop to Record on Foreign Direct Investment, HSBC Predicts India’s rupee will weaken almost 10 percent to a record low of 54 to the dollar by the end of the year as the worldwide credit crisis curbs foreign direct investment, HSBC Holdings Plc said.
Reliance Infrastructure Plans to Spend $144 Million to Repurchase Shares Reliance Infrastructure Ltd., India’s third-largest utility, said it plans to spend 7 billion rupees ($144 million) to repurchase shares.
Stocks in Europe, Asia, U.S. Futures Rise on Measures to Revive Economies Stocks in Europe and Asia advanced, sending the MSCI World Index higher for the first time in four days, on speculation governments will expand efforts to revive the economy. U.S. index futures climbed.
Stimulus Package Aims Two-Phase Jolt at U.S. Economy With Taxes, Spending The stimulus plan emerging from Congress may jolt the U.S. economy in successive waves: relief to cash-strapped consumers, businesses and states, then a job- creating lift from spending on roads, utilities and public transit.
Europe's Economy Shrinks Most Since 1995 as ECB Considers Deeper Rate Cuts Europe’s economy contracted the most in at least 13 years in the fourth quarter, compounding pressure on the European Central Bank to reduce interest rates to the lowest ever next month.
Merkel May Have to Nationalize Hypo After J.C. Flowers Negotiations Stall German Chancellor Angela Merkel may be forced to nationalize Hypo Real Estate Holding AG after a first round of talks with U.S. investor J.C. Flowers & Co. LLC failed to yield agreement on the sale of his stake in the lender.
G-7 Takes `Back Seat' as Financial Crisis Pushes G-20 Nations to the Fore The Group of Seven, whose finance chiefs convene this weekend in Rome, is ceding its traditional power to rebuild the world economy to a broader body of governments that now wield greater sway over global growth.
PepsiCo Fourth-Quarter Profit Falls on Writedowns, Costs for Restructuring PepsiCo Inc., the world’s second- largest soft-drink maker, said fourth-quarter profit fell 43 percent on writedowns and costs for restructuring.
Geithner Is Hampered by Staff Deficit as Wall Street Demands Faster Action Treasury Secretary Timothy Geithner, under intensifying pressure from Wall Street and Congress to complete his financial-rescue plan, is being handicapped by a dearth of staff experts critical to the effort.
source: Bloomberg
