India's Plan to Extend Stock-Trading Hours Will Drive Up Costs, Birla Says India’s proposal to narrow the gap between local and overseas securities trading hours may be spurned by investors on concern it will boost costs, Birla Sun Life Asset Management Co. said.
Fitch Withdraws Tech Mahindra's Credit Rating Over Satyam Computer Bid Fitch Ratings has withdrawn its rating of Tech Mahindra Ltd. after it submitted an expression of interest to buy Satyam Computer Services Ltd., the software exporter at the center of India’s biggest fraud inquiry.
Indian Output May Signal Stockmarket `Bottom' in Mid-2009, JPMorgan Says Indian stocks may “bottom” in the middle of the year after the slump in industrial production ends, JPMorgan Chase & Co. said.
Ten-Year Bonds Fall as Higher Money Market Rates May Damp Demand for Debt India’s 10-year bonds fell for a second day as the overnight interbank borrowing rate rose to an 11-week high, raising concern investors will have less money to buy government debt.
Rupee Completes Best Week Since December as Fed Plan Spurs Demand for Risk India’s rupee completed the biggest weekly gain since December on speculation sliding U.S. bond rates will spur global investors to seek higher-yielding emerging-market assets.
Stocks in India Fall, Snapping Two-Day Gain; ICICI Bank Leads Banks Lower India’s benchmark stock index fell for the first day in three, led by ICICI Bank Ltd. and other financial services companies, on concern bad debts may rise, countering gains by commodity suppliers.
India's Wheat Output May Exceed Estimate as Weather Boosts Yield Prospects Wheat production in India, the world’s second-biggest grower, may exceed a government forecast as cool weather in the main growing regions boosts yield prospects, according to Agriculture Commissioner N.B. Singh.
Asian Stocks Are in `Dead Cat' Bounce, Poised to Fall: Technical Analysis A rally in Asian stocks is a “false dawn” and shares are poised to fall, if technical indicators on a regional benchmark index are a guide, Helmsman Global Trading Ltd. said.
Citigroup Shifts Crittenden to Oversee Units for Sale; Kelly Is Named CFO Citigroup Inc., whose biggest shareholder is poised to be the U.S. taxpayer, reassigned Chief Financial Officer Gary Crittenden to oversee the Citi Holdings unit that houses $850 billion of assets the bank plans to sell.
Bonus-Tax Plan Heads to Senate as House Approves 90% Levy Amid AIG Outcry The Senate plans to vote next week on steep levies on employee bonuses after the House overwhelmingly approved a 90 percent tax on bonuses at American International Group Inc. and other companies receiving bailout funds.
Stocks in U.S. Fluctuate as Ford, Merck Recommendations Offset GE Decline U.S. stocks drifted between gains and losses as analyst recommendations to buy shares of Ford Motor Co. and Merck & Co. offset concern General Electric Co.’s finance unit faces more asset writedowns.
Treasury Notes Head for Best Week in 2009 on Fed's Plan to Purchase Debt Treasuries rose and notes headed for the biggest weekly rally since December after the Federal Reserve’s plan to buy as much as $300 billion of the securities led to the largest one-day surge in more than four decades.
Fed's TALF Kicks Off With $4.7 Billion to Help Fund Car, Credit-Card Loans The Federal Reserve’s effort to unfreeze markets for securities backed by loans kicked off with requests for $4.7 billion of financing, a total that officials hope will surge to as much as $1 trillion after investors resolve contract terms with dealers and other concerns.
Russia's FLC Default May Trigger Demand for $250 Million Early Repayment Finance Leasing Co., the state- owned Russian company that defaulted in December, faces demands for early repayment on as much as $250 million of bonds.
Polish Zloty Leads Central European Currencies Higher as EU Increases Aid The Polish zloty led gains among regional currencies as European Union leaders approved an increase in aid to distressed ex-communist economies.
source: Bloomberg
