Bharat Heavy Profit Gains on Increased Orders for Generators, Turbines Bharat Heavy Electricals Ltd., India’s biggest power-equipment maker, posted a 13 percent gain in fourth-quarter profit on orders for turbines and generators.
Geneva Whispers About New Money From Mumbai as Madoff Scandal Hits Locals The only good news whispered among Geneva’s financiers, who are reeling from billions of dollars lost to Bernard Madoff and the unraveling of once-impregnable bank secrecy laws, might be the warmer reception Swiss moneymen are getting from Bangalore to Singapore.
Reliance Plans to Spend Additional $5.9 Billion on Krishna-Godavari Basin Reliance Industries Ltd., India’s most valuable company, may spend an additional $5.9 billion on developing fields around areas from where it started producing gas to ease shortages faced by fertilizer and power producers.
India Inflation Holds Near 20-Year Low, Providing Room for April Rate Cut India’s inflation held near the slowest pace in at least two decades as commodity prices cooled and demand slowed, increasing the chance of an interest-rate cut by the central bank this month.
Maruti Sales Gain 22 Percent to Record in March on Exports, Lower Rates Maruti Suzuki India Ltd., maker of half the cars sold in the country, posted record sales in March as it boosted exports and cheaper interest rates helped lift domestic demand for WagonR and Swift hatchbacks.
Rupee Climbs to Five-Week High as India's Stock Gains Damp Risk Aversion India’s rupee strengthened for a third day on speculation a global stocks rally will damp risk aversion and revive investment in emerging-market assets.
Global Economic Slide May Be Subsiding as G-20 Leaders Gather for Summit Leaders of the most powerful nations are meeting amid signs that the world economy is stabilizing after months of freefall.
Stocks Rise to Five-Month High in India Led by Reliance Industries, ONGC Indian stocks rose, with the benchmark index climbing to near a five-month high, after U.S. Treasury Secretary Timothy Geithner said global economies are showing “traction” amid widening stimulus efforts.
Trichet Says ECB Can Still Cut Benchmark Interest Rate Further From 1.25% European Central Bank President Jean-Claude Trichet said policy makers are ready to lower their benchmark interest rate further and will probably keep the deposit rate at its current level.
Stocks, Commodities Rally as G-20 Weighs Stimulus; Yen, Treasuries Decline Stocks rallied around the world, oil and metals rose and the yen dropped as Group of 20 leaders met to discuss stimulus plans amid mounting evidence the worst of the global recession may be over.
FASB Eases Fair-Value Rules Amid Pressure From Lawmakers, Financial Firms The Financial Accounting Standards Board, pressured by U.S. lawmakers and financial companies, voted to relax fair-value rules that Citigroup Inc. and Wells Fargo & Co. say don’t work when markets are inactive.
China's Manufacturing Output Expands First Time in Six Months on Stimulus China’s manufacturing expanded for the first time in six months, spurred by the government’s 4 trillion yuan ($585 billion) stimulus package.
Buffett's Berkshire Penalized in Bond Market as Citigroup Borrows for Less Billionaire Warren Buffett’s Berkshire Hathaway Inc. is being penalized in the bond market, paying more to borrow than bailed-out companies including Citigroup Inc.
GM Director Bowles Said to Have Offered to Leave as U.S. Seeks New Board General Motors Corp. director Erskine Bowles offered to resign as the Obama administration seeks changes on the board of the government-supported automaker, a person with knowledge of the matter said.
Chrysler Dispute With Parts Maker Forces Closure of a Second Ontario Plant Chrysler LLC, under a 30-day deadline from the U.S. government to restructure, stopped production at a second Ontario factory because of a dispute with an auto parts supplier.
source: Bloomberg
