Singh's Opening of India May Ignite Investment, Put $20 Billion in Coffers Indian Prime Minister Manmohan Singh, who began his second term this week, may set a record for selling state assets as he revives efforts that were foiled by his former communist allies, bankers and analysts said.
Capital, Deutsche Bank Get $401 Million Windfall in a Week After DLF Soars Capital Research Management Co. and Deutsche Bank AG are among investors that made a $401 million paper profit buying DLF Ltd. stock from the founders of India’s biggest developer last week before a record rally in stocks.
Sensex Rises, Posting Biggest Weekly Advance in 17 Years on Singh's Win Indian stocks rose, with the benchmark index posting its steepest weekly gain in 17 years, on speculation the ruling party will accelerate economic reforms after its biggest election victory in two decades.
India Can Show Economic Turnaround This Year, Reducing Need for Stimulus India’s “modest” dependence on exports will help the economy weather the global recession and recover this year, reducing the need for further stimulus, central bank Governor Duvvuri Subbarao said.
Bonds Fall for Second Day as Investors Pare Holdings Before India Auction India’s 10-year bonds fell for a second day on speculation some investors sold the securities to raise cash for purchases at a government debt auction today.
Rupee Completes Biggest Weekly Rally in 13 Years as Stocks Jump on Singh India’s rupee completed the biggest weekly advance in 13 years on optimism Prime Minister Manmohan Singh, armed with a fresh mandate, will revive efforts to sell state assets and attract foreign investment.
Seligman Technology Shuns India for China, Echoing Rogers's Policy Concern J&W Seligman & Co.’s global technology fund is shifting investments into China and out of India after it beat 90 percent of peers over the past year by owning some of the subcontinent’s biggest companies.
Geithner Calls for `Very Substantial' Change in Wall Street Pay Practices Treasury Secretary Timothy Geithner called for major changes in compensation practices at financial companies and said the Obama administration’s plan to help realign pay with performance will be rolled out by mid-June.
MasterCard Is Said to Lose Debit-Card Users to Visa After JPMorgan Shift MasterCard Inc., the world’s second- largest electronic payments network, will lose more than half of a $59 billion portfolio of U.S. debit-card users after JPMorgan Chase & Co. decided to shift more business to Visa Inc., two people familiar with the matter said.
Stocks in U.S. Rise as Sears Profit Overshadows Government-Funding Concern U.S. stocks gained as an unexpected profit at Sears Holdings Corp. overshadowed concern the government faces higher interest rates to finance the bailout of the financial industry, which sent Treasuries lower and weakened the dollar.
New York Fails to Reward Taxpayers With Discounts Missed in Debt Financing While New York’s Legislature and governor attempted earlier this year to close a $17.7 billion budget gap by raising taxes and eliminating 8,700 jobs, the comptroller’s office gave away almost $1.4 million from taxpayers in the bond market.
Steinhardt Says U.S. Stock Rally Won't Last, Economy Still a `Scary Place' Michael Steinhardt, whose hedge funds returned more than 20 percent a year for almost three decades, said the steepest U.S. stock market rally since the 1930s will probably end.
Evercore Partners Founder Altman Names Schlosstein to Replace Him as CEO Evercore Partners Inc. Founder Roger Altman hired Ralph Schlosstein to replace him as chief executive officer of the 13-year-old New York investment bank.
Hedge Fund Insurance Costs Climb as Lehman, Madoff Spur Manager Scrutiny The cost of insuring hedge funds against negligence has risen as much as 20 percent in the past six months after Lehman Brothers Holdings Inc.’s bankruptcy and Bernard Madoff’s Ponzi scheme increased the threat of lawsuits.
source: Bloomberg
