Indian Hotels Gains Control of Mumbai Sea Rock Property for $143 Million Indian Hotels Co., which runs the Taj Group of hotels, acquired control of Hotel Sea Rock in north Mumbai for 6.8 billion rupees ($143 million), to boost the rooms it can offer travelers to the country’s commercial hub.
India Industrial Output Unexpectedly Rises as Rate, Tax Cuts Revive Demand India’s industrial production unexpectedly rose for the first time in three months, suggesting interest-rate cuts and government stimulus measures are helping resuscitate demand in Asia’s third-biggest economy.
Stocks in India Fall, Paring Weekly Advance; State Bank, Bharti Lead Drop Indian stocks fell with State Bank of India leading financial companies lower for a second day on concern inflation will rebound from the lowest in three decades, prompting higher interest rates.
Rupee Completes Worst Week in 3 Months as Oil Reignites Deficit Concerns India’s rupee completed its worst week since March on concern crude oil prices near an eight-month high will boost import costs.
Indian Steel Demand May Rise 10%, Double Previous Estimate, Rastogi Says India’s steel demand may gain as much as 10 percent this fiscal year, almost double the pace previously estimated, as the government spends more on infrastructure, Steel Secretary Pramod Rastogi said.
Infosys Says It's Ready to Boost U.S. Staff in Case of `Hire American' Law Infosys Technologies Ltd., India’s second-largest provider of software services, plans to boost hiring in the U.S. if a proposal to restrict the country’s work visas becomes law, said B. G. Srinivas, a company executive.
Oil & Natural Gas Declines After Forecasting Gas Losses of $630 Million Oil & Natural Gas Corp., India’s biggest explorer, fell in Mumbai after Chairman R.S. Sharma said the company may have had 30 billion rupees ($630 million) of losss selling natural gas at below cost last fiscal year.
Consumer Sentiment in U.S. Rises a Fourth Month; Import Prices Gain on Oil Confidence among U.S. consumers rose for a fourth straight month in June, reinforcing signs of an impending end to the recession, while prices of imported goods jumped as oil costs climbed.
U.S. Stocks Erase Declines as Bank of America, Utility Companies Advance U.S. stocks erased their decline as Bank of America Corp. led the Dow Jones Industrial Average higher and utilities and health-care companies drove a gain in the Standard & Poor’s 500 Index.
BlackRock to Buy Barclays Fund Unit, Become World's Biggest Money Manager BlackRock Inc., started 21 years ago in a one-room office by former mortgage-bond trader Laurence Fink, agreed to buy Barclays Plc’s investment unit for $13.5 billion to become the world’s largest money manager.
Ping An Insurance Plans to Acquire Stake in Shenzhen Bank for $3.2 Billion Ping An Insurance (Group) Co., shifting its focus to the Chinese market after losing $3.3 billion on an investment in Fortis, plans to buy a 22 billion yuan ($3.2 billion) stake in Shenzhen Development Bank Co.
Merck's Singulair Is Among Asthma Medicines Cited by FDA for Suicide Risk The asthma drugs Singulair, Accolate, and Zileuton were linked to reports of “neuropsychiatric events” including suicide in some patients, the U.S. Food and Drug Administration said today.
Lehman Forced to Pay Barclays $6 Million for Its Own Desks, Chairs, Phones Lehman Brothers Holdings Inc., nine months after selling its brokerage to Barclays Plc while in bankruptcy, is still in disputes with the British bank over who owns what, including the investment bank’s own furniture.
El-Erian Says BRICS Pre-Summit Dollar Muscle May Leave Investors 'Hostage' Leaders of Brazil, Russia, India and China will probably use their first summit next week to press the case that their 15 percent share of the world economy and 42 percent of global currency reserves should give them more clout.
source: Bloomberg
