India May Fail to Meet 7.1% Economic Growth Forecast as Harvests Decline India may fail to achieve the government’s 7.1 percent economic growth forecast if crop harvests don’t meet expectations, according to the finance ministry’s top economist.
JSW Steel May Turn Profitable on Rural Demand in India, Lower Coal Costs JSW Steel Ltd., India’s third- biggest producer, may return to profit this quarter from a loss in the previous three months as costs decline and a drop in prices prompts rural homebuilders to replace asbestos with steel.
Sri Lanka Cuts Interest Rates as Economy Grew at Slowest Pace Since 2003 Sri Lanka’s central bank lowered interest rates for the third time in three months after the island’s economy expanded last quarter at the slowest pace since at least 2003.
Cotton Exports May Rebound as `Worst Over' for India's Textile Producers Cotton sales from India, the world’s second-biggest grower and exporter, may rebound starting June as demand for textiles revives and a weak currency makes shipments attractive, the nation’s biggest buyer of the fiber said.
Lodha to Develop Mumbai Township for $185 Million, Targeting Middle Clash Indian developer Lodha Group plans to invest about 9.5 billion rupees ($185 million) to develop a township in a Mumbai suburb targeted at middle-income buyers as the slowing economy reduces demand for luxury apartments.
India's Gold Imports Almost Zero on Climbing Scrap Supplies, Record Prices Gold imports by India, the world’s biggest buyer, have been near zero this month as a weak currency and record prices increase the cost of owning the precious metal, a traders’ group said.
Hemendra Kothari Sells Remaining 10% of DSP Merrill, Quits Chairman Post Bank of America Corp. bought the 10 percent it doesn’t already own of DSP Merrill Lynch Ltd. from the Indian unit’s founder and appointed local President Kevan Watts as head of its combined operations in the country.
Ten-Year Bonds Gain on Speculation Central Bank Purchases Will Cap Yields India’s 10-year bonds rose for the third time in four days on speculation demand for government debt will increase on purchases by the central bank.
Consumer Prices in U.S. Rise More Than Forecast on Gasoline, Vehicle Costs The cost of living in the U.S. rose more than forecast in February, easing concern that the inflation rate will fall below the Federal Reserve’s preferred level.
Fed Officials May Clash Over How to Inject Credit Into Shrinking Economy Federal Reserve policy makers will likely determine today that the U.S. recession is still deepening, while clashing on what to do about it.
Coca-Cola's $2.3 Billion Huiyuan Juice Purchase Blocked by China Regulator China rejected Coca-Cola Co.’s $2.3 billion bid for China Huiyuan Juice Group Ltd., saying the biggest foreign takeover of a Chinese company would have been “negative for competition” in the country’s drinks market.
U.S. Current-Account Gap Narrows to Smallest Since 2003 on Drop in Trade The U.S. current-account deficit narrowed more than forecast in the fourth quarter to $132.8 billion, reflecting a smaller gap in trade of goods.
Hedge Funds Disappeared at Record Pace Last Year as 15% of Industry Closed Hedge-fund liquidations rose to an all-time high last year as managers posted record losses, according to Hedge Fund Research Inc.
source: Bloomberg
