Steel Authority of India, JSW See Sales Gain, Bucking Global Demand Slump Steel Authority of India Ltd., the nation’s second-biggest producer, and JSW Steel Ltd. forecast higher sales as a $14 billion federal program to build houses and roads revives demand.
Bonds Post Biggest 2-Day Rally Since 2001 as India Central Bank Buys Debt India’s benchmark bonds posted their biggest two-day advance since 2001 as the central bank bought existing debt via open-market operations.
IGate Teams Up With Private Equity Firm to Bid for Satyam Computer Stake IGate Corp. has teamed up with a private equity firm to gain funding and legal expertise to bid for Satyam Computer Services Ltd., Chief Executive Officer Phaneesh Murthy said. He didn’t provide details.
JSW Steel to Run Mills at Full Capacity, Start Shops as Rural Demand Rises JSW Steel Ltd., India’s third- biggest producer, said it will run its mills at maximum capacity until at least June to meet higher rural demand and build a nationwide network of sales outlets with as many as 600 branches.
Sensex Climbs to Two-Week High on G-20 Pledge as Banks, Automakers Advance Indian stocks rose, driving the benchmark index to its highest in two weeks, led by banks and carmakers after G-20 officials said their priority is to restore lending and oil prices tumbled.
Tata Power Has No Plan to Sell Stake in Two Indonesia Bumi Resources Mines Tata Power Co., India’s biggest electricity generator outside state control, said it has “no intention” to sell its stake in two Indonesian coal mines owned by PT Bumi Resources, Asia’s third-biggest coal producer.
Rupee Climbs for Second Day as Global Equity Gains May Attract Investors India’s rupee rose to the highest this month on speculation a stock-market rally will spur investment in local assets.
Global Stocks Rally on Outlook for Economies, Banks; Barclays Shares Jump Global stocks climbed for a fifth day as the Group of 20 vowed to clean up toxic assets, Federal Reserve Chairman Ben S. Bernanke said the recession may end this year, and Barclays Plc reported a “strong” start to 2009.
U.S. Industrial Output Slides as Export, Auto Slumps Hit Broader Economy Industrial production fell in February for the fourth consecutive month as auto cutbacks and collapsing exports hurt the broader U.S. economy.
AIG Says $105 Billion of Bailout Funds Flowed to Goldman, SocGen, States American International Group Inc., under pressure to reveal how it spent taxpayer funds since its September bailout, said $105 billion flowed to U.S. states and banks including Goldman Sachs Group Inc., Societe Generale SA and Deutsche Bank AG.
Barclays Discusses Sale of iShares as Bank Tries to Avoid Government Stake Barclays Plc is in talks to sell its iShares exchange-traded funds unit as the U.K.’s third- biggest bank tries to bolster capital without turning over a stake to the government.
Wells Fargo Chief Blames TARP for Payout Cut, Calls Stress Test `Asinine' Wells Fargo & Co. Chairman Richard Kovacevich criticized the U.S. for retroactively adding curbs to the Troubled Asset Relief Program, which he said forced the bank to cut its dividend, and called the administration’s plan for stress-testing banks “asinine.”
Bernanke May Buy Treasuries After King's Gilt Purchases Drive Down Yields Ben S. Bernanke may have something to learn from his former Massachusetts Institute of Technology colleague Mervyn King.
source: Bloomberg
