India May Receive Near Normal Rains, Driving Slowest Growth in Six Years India’s monsoon, critical to the country’s $1.2 trillion economy, will probably be near normal, helping counter the slowest economic growth in six years.
Sensitive Index Posts Sixth Weekly Gain as Global Recession Concern Eases Indian stocks rose, with the benchmark index posting its sixth weekly gain, after U.S. company earnings beat estimates and better data from the world’s biggest economy lifted confidence the global recession is easing.
Indian Rupee Strengthens a Sixth Week as Investors' Risk Appetite Builds India’s rupee rose for a sixth week as a global stocks rally spurred investor demand for higher- yielding assets, helping the nation attract funds.
Reliance Gives Up Jamnagar Refinery Export Status to Sell Fuels in India Reliance Industries Ltd., India’s most valuable company, surrendered the export-oriented unit status of its refinery to sell fuels locally.
Carlyle Will Keep Pace of Spending in China, India Amid Economic Slowdown Carlyle Group will keep its pace of spending in China and India, taking equity investments in companies linked to basic consumer products, education, medical services and energy to grow amid a global slowdown.
India Defers Largest Oil Field Auction on Confusion Over Gas Tax Break India postponed its largest auction of oil and gas fields on concern that the absence of a tax break for natural gas production will keep domestic and overseas bidders away.
Hero Honda Expects Sales to Gain 7.5% This Year on India Motorcycle Demand Hero Honda Motors Ltd., India’s biggest motorcycle maker, expects sales this year to climb 7.5 percent to a record as it boosts output to meet demand from the country’s growing middle class.
Delta Air Returns Customer Call Centers to U.S. From India Amid Complaints Delta Air Lines Inc., the world’s largest carrier, stopped routing customer service calls to India and brought them “back in house” in the U.S. because customers were unhappy, Chief Executive Officer Richard Anderson said.
Citigroup $1.6 Billion Earnings Beat Estimates on Trading, Accounting Rule Citigroup Inc., the U.S. bank rescued by $45 billion in U.S. taxpayer funds, ended a five- quarter losing streak with a $1.6 billion profit on trading gains and an accounting benefit for companies in distress.
GE Profit Tops Estimates as Engine, Energy Sales Offset Real Estate Losses General Electric Co.’s first- quarter profit fell less than analysts estimated as demand for energy equipment and jet engines tempered the effects of real- estate losses and rising consumer-credit defaults at GE Capital.
U.S. Consumer Sentiment Rises More Than Forecast on Signs Recession Easing Confidence among U.S. consumers improved in April for a second month amid signs the longest recession in the postwar era may be easing.
Treasury Seeking to Retain Interest in Banks Through Ownership of Warrants The Treasury intends to retain an ownership interest in many U.S. banks even after the lenders buy back preferred stock the government currently holds as part of its rescue effort.
New York Fed Names Economist Sack to Head Markets Group, Succeeding Dudley The Federal Reserve Bank of New York named Brian Sack, an economist with Macroeconomic Advisers LLC, as its new markets director, succeeding New York Fed chief William Dudley in the post.
GM May Still Need $4.6 Billion in U.S. Loans This Quarter, Henderson Says General Motors Corp., operating with $13.4 billion in U.S. loans, will probably still need $4.6 billion in additional aid this quarter, Chief Executive Officer Fritz Henderson said.
Cathay Pacific Cuts Capacity for First Time Since SARS on Plunging Travel Cathay Pacific Airways Ltd., Hong Kong’s largest carrier, will cut capacity for the first time since the 2003 SARS outbreak and ask all staff to take unpaid leave as it battles plunging travel demand.
source: Bloomberg
