Diamond Exporters Seek $4 Billion From Currency Reserves as Exports Slump India’s diamond processors, who polish 11 out of every 12 of the world’s gems, are seeking $4 billion from the government amid a slump in jewelry exports that’s forced companies to lay off thousands of workers.
India's Inflation Slows to 30-Year Low as Weak Economic Growth Saps Demand India’s inflation slowed to a three- decade low as the weakest economic growth in seven years sapped domestic demand.
India to Name NHPC Independent Director, Paving Way for IPO by September The Indian government will “soon” appoint an independent director to the board of NHPC Ltd., paving the way for the country’s largest hydroelectric generator to sell shares by September, the power secretary said.
Sensitive Index Falls, Led by State Bank of India, Infosys on Valuations India’s stocks fell for the first time in three days, led by State Bank of India, on concern the gauge’s 32 percent rally over the past month has made the shares too expensive.
India May Not Cut Rates as Higher Spending Rekindles Inflation, HSBC Says India’s central bank may not add to six interest rate cuts since October as higher government spending boosts demand and rekindles inflation in Asia’s third- biggest economy, HSBC Bank said in a report.
Infosys Is in Talks With Six Clients to Buy Technology Units, Win Orders Infosys Technologies Ltd., India’s second-largest provider of software services, is in talks with five to six clients to buy their technology units, B. G. Srinivas, a senior vice president, said in an interview.
India's Monsoon Delay Unlikely to Hurt Sugar, Soybean Crops, Officials Say A delay in the progress of India’s monsoon towards the nation’s biggest sugar cane and cotton areas is unlikely to hurt crop prospects, industry officials said.
National Exchange to Gain as Indian Economy Grows, Norwest Venture Says The National Stock Exchange of India Ltd., the world’s biggest market for single-stock futures, will outpace growth at global rivals as the economy expands, its newest overseas investor Norwest Venture Partners said.
U.S. Retail Sales Rise First Time in Three Months as Car Bargains Sought Retail sales rose in May for the first time in three months as U.S. shoppers returned to showrooms seeking bargains from ailing carmakers, with little sign of an underlying rebound in spending.
Stocks in U.S. Advance as Retail Sales, Jobs Data Top Estimates; GE Gains U.S. stocks climbed, recouping yesterday’s losses, as better-than-estimated reports on jobless claims and retail sales bolstered confidence the economy is recovering and oil’s rally to a seven-month high lifted energy shares.
Hedge Funds Ride Convertibles Resurgence as Canyon, Citadel Recoup Losses Convertible bonds that punished hedge funds in 2008 are driving returns at Canyon Partners and Citadel Investment Group LLC and helping companies from JetBlue Airways Corp. to Alliance Data Systems Corp. raise capital.
AIG Said to Remove Logo From Employee Badges, Cards on Harassment Concern American International Group Inc., the insurer bailed out by the U.S., has removed its logo from employee badges and corporate charge cards after some workers were harassed, said two people familiar with the situation.
World Bank Says Global Economy to Shrink 3%, More Than Previous Estimate The World Bank, established in the wake of World War II to help eradicate poverty, cut its global economic outlook for this year, citing rising unemployment and weak production.
Highbridge Co-Founder Swieca to Leave by Year-End as JPMorgan Raises Stake Henry Swieca, co-founder of Highbridge Capital Management LLC, plans to leave the $21 billion hedge-fund firm by the end of the year, all but ending his 25-year partnership with childhood friend Glenn Dubin.
source: Bloomberg
