ONGC Expects Overseas Oil Production to Decline 9% This Year as Fields Age Oil & Natural Gas Corp., India’s biggest energy explorer, said its overseas crude output will fall this year as fields age, and an increase is likely after new areas in Brazil and Myanmar start production by 2012.
India's Economy Can Achieve 9% Growth Amid Global Recession, Singh Says India’s economy can rebound to a 9 percent growth rate amid the global recession, powered by higher government spending, Prime Minister Manmohan Singh said.
National Aluminium Expects to Win Permit to Mine Bauxite in Andhra Pradesh National Aluminium Co., India’s biggest alumina maker, may win a license in the next three months to mine bauxite in Andhra Pradesh, securing raw material for its planned $800 million alumina plant in the southern state.
Indian Stocks Rise to 10-Month High on Prime Minister's Economic Outlook Indian stocks rose to a 10-month high, led by Larsen & Toubro Ltd., after Prime Minister Manmohan Singh said the economy can rebound to a 9 percent growth rate amid the global recession.
Satyam Computer Surges by Daily Limit After Reporting Profit, Orders Satyam Computer Services Ltd. jumped by the daily limit in Mumbai trading after the software maker reported remaining profitable and retaining clients following the disclosure of India’s biggest corporate fraud.
Coffee Exports to Reverse Recent Drop on Bigger Crop Prospects, Board Says Coffee exports from India, Asia’s third-biggest supplier, may match 2008-09 levels on expectation of a bigger crop, helping reverse a decline in shipments seen in the first two months of the season, the Coffee Board said.
Rupee Advances, Reversing Earlier Loss, as Recovery Optimism Lifts Stocks India’s rupee gained as a rally in local stocks added to optimism overseas investors are boosting purchases of local assets, betting on an economic recovery.
Indian Refiners Decline After Report of Delay in Lifting Fuel Price Curbs Indian oil refiners fell in Mumbai trading after a newspaper reported that the government may defer lifting curbs on retail prices of gasoline and diesel.
U.S. Lets 10 Banks Repay $68 Billion of TARP Funds, Easing Treasury's Grip The U.S. Treasury approved 10 banks to buy back $68 billion of government shares, reducing officials’ authority to intervene in everything from lending and hiring strategies to compensation policies.
General Motors Says Former AT&T Chief Whitacre to Be Automaker's Chairman General Motors Corp. said Edward E. Whitacre Jr., former chairman and chief executive officer of AT&T Inc., will become GM’s new chairman.
Stocks in U.S. Fluctuate as Gain of Texas Instruments Offset by P&G's Drop U.S. stocks fluctuated as a better- than-estimated forecast at Texas Instruments Inc. and higher oil and metal prices lifted technology and commodity companies, offsetting a drop in consumer shares.
Buffett Doubled Berkshire's Municipal-Bond Stake Amid `Unthinkable' Yields Warren Buffett’s Berkshire Hathaway Inc. doubled its municipal-bond holdings in nine months amid record swings in the value of the securities that the billionaire investor labeled “unthinkable.”
Federal Reserve Plans to Retreat From Seeking Authority to Sell Own Bills The Federal Reserve has backed off from seeking a new tool to forestall inflation, refraining from asking Congress for the power to issue its own debt, according to a person familiar with the matter.
Widest Libor Spread Spurs Switch in Loan Benchmark for US Power, Univision US Power Generating Co. cut its interest costs by about $6.25 million last quarter after taking advantage of an option that allows borrowers to peg loan rates to shorter-maturity benchmarks.
Arcandor Ends 128-Year History, Files for Insolvency as Merkel Rejects Aid Arcandor AG, owner of the century-old Karstadt department-store chain, filed for insolvency after attempts to win government help foundered, jeopardizing 43,000 German jobs.
source: Bloomberg
