Indian Economy Expands Faster-Than-Expected 5.8%, Easing Pressure on Singh India’s economy grew more than estimated in the last quarter, making it easier for re-elected Prime Minister Manmohan Singh to steer the country through the global recession.
Singh May Lift 5-1/2 Year Cap on Fuel Prices in First Market-Opening Move India may lift a 5 1/2-year cap on pump prices of gasoline and diesel, the first market-opening move by Prime Minister Manmohan Singh since his election victory this month. Shares of refiners surged.
Boeing Says Congress Election Victory May Boost India's Defense Spending Boeing Co., the second-biggest U.S. defense contractor, said India’s military revamp and warmer ties with the U.S. after recent elections may boost India’s spending on defense equipment including helicopters and fighter jets.
Stocks, Rupee Advance as India's Economy Grows Faster Than Expected 5.8% Indian stocks rose, capping their best month in 17 years, after a government report showed faster- than-expected economic growth last quarter. The rupee rallied.
India's Budget Deficit Widens to Seven-Year High, Putting Ratings at Risk India’s budget deficit widened to a seven-year high as the government increased spending, putting the nation’s credit ratings at risk.
Indian Oil Swings to $1.4 Billion Quarterly Profit After Getting Bonds Indian Oil Corp., the nation’s biggest refiner, swung to a profit in the fourth quarter after getting bonds from the government as compensation for selling fuels below cost and boosting income from other business.
Sensitive Index Climbs, Set for Best Month in 17 Years, on India's Growth India’s benchmark stock index rose to the highest in more than a week after UBS AG and Standard Chartered Plc said the economy is showing signs of recovery. Reliance Industries Ltd. and Larsen & Toubro Ltd. led gains.
Sensitive Index May Climb Another 5% Before Slumping, Kotak's Prasad Says India’s Sensitive stock index may extend its election rally by another 5 percent before slumping on earnings concerns, according to Kotak Securities Ltd.
Mortgage-Bond Yields Drop After Spurt Raised Concerns Over Home-Loan Rates Yields on Fannie Mae and Freddie Mac mortgage bonds tumbled, likely pushing down interest rates on new home loans after a recent jump that added to signs the housing market and economy may not soon recover.
Confidence Among U.S. Consumers Increases to Highest Level Since September Confidence among U.S. consumers rose this month to the highest level since September, while business activity shrank at a faster pace than forecast as the auto slump rippled through the economy.
Dollar Slips to $1.41 per Euro as Economic Prospects Reduce Safety Demand The dollar declined beyond $1.41 against the euro for the first time this year as evidence the global recession is easing sent investors in search of assets with higher returns.
General Motors UAW Members Approve Amendments to Contract by 74% Majority General Motors Corp. workers represented by the United Auto Workers ratified amendments to their labor contract, voting 74 percent in favor.
Bond Vigilantes Confront Obama Credibility as Bernanke Housing Aid Falters They’re back.
Harrah's, Leap Lead $21.9 Billion in May Junk-Bond Sales, a Two-Year High Harrah’s Entertainment Inc., the world’s biggest casino company, and Leap Wireless International Inc. led companies selling $21.9 billion of speculative-grade bonds in May, the most since June 2007, as the riskiest borrowers raise cash to repay bank loans.
VIX Is More Likely to Reach 40 Than Decline to 20, Macro Risk Survey Says The VIX, the benchmark gauge for U.S. stock option prices and a barometer of Wall Street uncertainty, is more likely to reach 40 than drop to 20, investors said in a Macro Risk Advisors LLC survey.
source: Bloomberg
