India Inflation Slows to 2-Decade Low; Providing Scope for Rate Reduction India’s inflation slowed to a two- decade low, providing room for the central bank to cut interest rates to protect the economy from the global recession.
India Ends Soybean Oil Import Tax, May Boost Cooking Oil Purchases Abroad India, the world’s second-biggest buyer of vegetable oils, scrapped a 20 percent tax on imports of crude soybean oil, aiding sales from South American producers. Soybean oil rose the most in three weeks.
Russia May Buy Stake in Sistema Indian Mobile Unit to Fund Debt Repayment Russia’s government may buy a stake in billionaire Vladimir Yevtushenkov’s Indian mobile-phone unit to help his holding company AFK Sistema pay off debt.
Citigroup to Retain 12% Stake in India's Housing Development, Mistry Says Citigroup Inc. doesn’t plan to sell its stake in India’s Housing Development Finance Corp., said Keki Mistry, managing director of the South Asian nation’s biggest mortgage lender.
Maharashtra State Sugar Production Declines 34% on Planting, Dry Weather Sugar output in India’s Maharashtra state, the country’s largest producer, declined 34 percent this year after farmers reduced the area planted to the crop and dry weather lowered yield.
Bonds Decline on Speculation Investors Sold Before Tomorrow's Debt Auction Indian bonds fell on speculation investors sold securities to free up cash for a debt auction.
Indian Rupee Climbs Most in Four Months as Fed Plan Boosts Appeal of Yield India’s rupee strengthened the most in four months on speculation the U.S. Federal Reserve’s plan to buy $1 trillion of bonds will drive interest rates lower, boosting demand for higher-yielding assets.
`Rambo Fed' Pledges Treasuries, Mortgage-Debt Purchases to Combat Crisis By committing to buy Treasuries and double his purchases of mortgage debt, Federal Reserve Chairman Ben S. Bernanke signaled his determination to avoid a repeat of the Great Depression and his willingness to pump as much cash into the economy as needed to end the current crisis.
U.S. Leading Indicators Fall 0.4% Amid Credit Freeze, Rising Unemployment The index of leading U.S. economic indicators fell in February for the third time in five months, reflecting the worsening conditions that spurred the Federal Reserve to say yesterday it will buy Treasury securities.
Citigroup Plans to Sell $3 Billion in Credit-Card-Backed Bonds Under TALF Citigroup Inc. plans to sell $3 billion in bonds backed by credit card payments eligible for the Federal Reserve’s program to jumpstart consumer lending.
GE Says Finance Arm Will Need No Outside Capital, Expects Profit This Year General Electric Co. said its GE Capital finance unit won’t need more outside funding and at worst will break even under scenarios the Federal Reserve is using to test banks during a global recession and credit crunch.
Chrysler CFO Calls Company Safer Investment Than General Motors for U.S. Chrysler LLC, seeking $5 billion in additional U.S. loans, is in a better position to deal with the recession and is a safer investment for taxpayers than General Motors Corp., said Ron Kolka, chief financial officer.
Bernanke Puts Ceiling on Treasury Yields in Bid to Reduce Consumer Rates Federal Reserve Chairman Ben S. Bernanke may have brought an end to the worst quarterly start for Treasuries since 1980 by establishing a ceiling on yields with plans to buy $300 billion in government debt.
Dollar Rally Crumbles as Fed Ramps Up Printing Presses to Revive Economy The rally that pushed the dollar to the highest levels since 2006 is in danger of crumbling as the Federal Reserve starts buying Treasuries and ramps up its purchases of mortgage debt, adding to a flood of greenbacks.
source: Bloomberg
