India's Sensex to Rebound From 2009 Slump on Stimulus, HSBC's Duggal Says Sanjiv Duggal, the HSBC Holdings Plc investment director who oversees the world’s largest India fund, said the Sensitive Index will rebound from a near three- year low on cheaper valuations and government stimulus plans.
India May Subsidize Wheat Exports as Stockpiles Mount, Weighing on Prices India, the world’s second-biggest wheat grower, may subsidize exports to run down stockpiles at government warehouses that may reach a seven-year high, likely pressuring global prices, a U.S. growers’ group said.
Sell Singapore Dollar, Buy India Rupee on Exports, Standard Chartered Says Investors should sell Singapore’s dollar against the Indian rupee as the city-state’s exports collapse, while domestic consumers bolster demand in the world’s second most-populous nation, Standard Chartered Plc said.
India May Ask Sugar Mills to Boost Local Sales as Prices Reach 3-Year High India, the world’s second-biggest sugar producer, may ask mills to increase domestic sales as it seeks to cool prices that have climbed to a three-year high amid declining production.
Asian Stocks Advance on Bank Recovery Optimism, Gains in Commodity Prices Asian stocks gained for a third day, the longest winning streak in seven weeks, as Australia said it may lower interest rates and Standard Chartered Plc reported a “strong” start to 2009.
Rupee Trades Near March High on Weekly Net Stock Purchases by Global Funds India’s rupee traded near this month’s high as weekly share purchases by overseas investors exceeded sales for the first time since mid-February.
Bharat Petroleum Sells 950 Million Rupees of Bonds to Pay for Oil Imports Bharat Petroleum Corp., India’s second-largest state refiner, sold 950 million rupees ($18.5 million) of bonds to the country’s central bank to fund its purchases of crude oil.
Bernanke May Need `Massive' Asset Purchases to Counter Deeper Contraction Chairman Ben S. Bernanke and Federal Reserve policy makers may have to ramp up their purchases of mortgage securities and other assets after the economy and job market deteriorated further since they last met.
Housing Starts in U.S. Unexpectedly Rise Amid Surge in Condo Construction Housing starts in the U.S. unexpectedly snapped the longest streak of declines in 18 years in February, adding to signs that the pace of the economy’s decline may be easing.
U.S. Stocks Fluctuate After Gain in Housing Starts; Centex Shares Advance U.S. stocks drifted between gains and losses as an unexpected rebound in homebuilding offset Alcoa Inc.’s dividend cut and a disappointing forecast from the nation’s biggest steelmaker.
Madoff Fraud Victims, Stanford Investors Can Claim Theft Losses, IRS Says Investors allegedly defrauded by Bernard Madoff and R. Allen Stanford will be allowed to claim theft losses as deductions on their tax returns, Internal Revenue Service Commissioner Douglas Shulman said.
Chrysler's Nardelli Tells CNBC Automaker Seeks More Aid for Finance Unit Chrysler LLC, surviving on federal loans, asked the U.S. Treasury for more aid for its finance arm to stimulate auto lending, the carmaker’s chief executive officer told CNBC.
MGM Mirage, General Motors Lead Wave of Filing Delays as Valuations Slump Casino owner MGM Mirage said it needed more time to complete its annual report to assess its finances. Newsprint maker AbitibiBowater Inc. attributed its delay to an impairment charge, and General Motors Corp. was slowed by debt refinancing.
source: Bloomberg
