Cairn India Rajasthan Field May Cut Nation's Oil Import Bill by Up to 7% Cairn India Ltd., a unit of U.K.- based explorer Cairn Energy Plc, may produce enough crude from its field in Rajasthan state to slash the South Asian country’s oil import bill by as much as 7 percent.
Gold Imports by India Fall to Zero in March on Weak Rupee, Record Prices Gold imports by India, the world’s biggest buyer, have been near zero for a second month in March as a weak currency and record prices deterred jewelry buyers, a traders’ group said.
India Stocks Rise, Posting Best Month in 11; Infosys Advances on U.S. Data Indian stocks rose, driving the benchmark index to its best month since April 2008, on speculation overseas investors stepped up purchases because they expect stimulus measures to help revive the economy.
Volkswagen Adds India Plant as Emerging Markets Dodge Global Recession Volkswagen AG, Europe’s largest carmaker, opened a factory in India as it boosts investments in emerging markets to offset tumbling demand at home.
India Capital Account Shows Deficit for First Time Since 1998 Amid Crisis India’s capital account slipped into a deficit for the first time since 1998 as the global financial crisis and an ensuing recession prompted risk-averse investors to flee emerging markets.
Wockhardt Delays Earnings Release; Seeks to Restructure Loans With ICICI Wockhardt Ltd. will delay its annual earnings release as it seeks to restructure its loans with ICICI Bank Ltd., according to a statement from the company.
India's Coffee Exports Decline 8 Percent as Heavy Rain Reduces Crop Size India’s coffee exports, which make up 70 percent of the nation’s production, declined in the year ending March 31 after excessive rainfall damaged the crop in the nation’s main growing region.
Bonds Advance on Speculation Yields at November High May Attract Investors India’s 10-year bonds gained, snapping a seven-day loss, on speculation yields near the highest in four months attracted investors.
Home Prices in 20 U.S. Cities Decline by Record 19%, Case-Shiller Reports Home prices in 20 U.S. cities fell 19 percent in January from a year earlier, the fastest drop on record, as demand plummeted and foreclosures rose.
Mack Warns Morgan Stanley Brokers of Difficult Year With Recovery Deferred Just when the monthlong rally in bank shares is signaling a thaw in the credit freeze that gripped the world’s financial capitals since August 2007, some of the securities industry’s most experienced executives are predicting no end to Wall Street’s troubles.
Barclays Said to Discuss Sale of IShares Unit to CVC for About $4 Billion Barclays Plc, the U.K.’s third largest bank, is in exclusive talks to sell its iShares unit to CVC Capital Partners Ltd. for about 3 billion pounds ($4.3 billion), people familiar with the discussions said.
Federal Reserve Takes Lead Role in Executing `Stress Tests' of U.S. Banks The Federal Reserve has taken the primary role in determining how much new capital the nation’s biggest banks need to weather the economic slump, people familiar with the matter said.
Riviera Misses Payment, May Seek Bankruptcy as Gambling Revenue Dwindles Riviera Holdings Corp., the operator of Nevada and Colorado casinos, missed a $4 million interest payment and said it may have to seek bankruptcy protection as Las Vegas endures the worst gambling slump on record.
JPMorgan Trounces Competition in Busiest Year for European Rights Offers JPMorgan Chase & Co. has arranged $12.8 billion of rights offers, twice as much as nearest competitor Goldman Sachs Group Inc., in Europe’s busiest year for the share sales.
source: Bloomberg
