Indian Oil Plans to Spend $2.8 Billion to Boost Capacity as Demand Climbs Indian Oil Corp., the nation’s biggest refiner, will increase spending 23 percent to boost capacity even as it borrows more to cover losses from selling fuels below the cost of crude oil.
Coffee Output to Reach Record After India's Summer Rainfall Boosted Crops India’s coffee output, the third- biggest in Asia, will increase 17 percent to a record next season after summer rains over the nation’s main growing region boosted crop prospects, the state-owned Coffee Board said.
India Said to Extend Duty-Free Imports of Raw Sugar by 8 Months to March India, the world’s biggest sugar consumer, may extend duty-free imports of raw sugar by eight months to March, bolstering local supplies and global prices, an industry official said.
Sensex Index Rises, Paring First Weekly Drop in 15; Larsen, Infosys Climb Indian stocks rose, paring the benchmark index’s first weekly decline since early March, as Larsen & Toubro Ltd. led construction companies higher on speculation the government will boost public-works spending.
Deshmukh Says India Is Considering Selling a 10% Stake in Bharat Heavy India is considering selling a 10 percent stake in Bharat Heavy Electricals Ltd., the nation’s biggest electrical equipment maker, Heavy Industries Minister Vilasrao Deshmukh said.
India's Inflation May Stay in `Negative Territory' a Few Months Then Surge India’s inflation is likely to stay in “negative territory” for several months before surging above the central bank’s target early next year, economists say.
Emerging Markets Stocks to Rise 32% More, Morgan Stanley's Garner Says Developing-nation stocks may rise 32 percent in the next 12 months as a faster-than-expected earnings recovery fuels a long-term bull market, Morgan Stanley said.
India Cabinet Extends Stock Limits on Sugar by Six Months to Control Price India, the world’s second-biggest sugar producer, extended limits on the quantity of sweetener traders can hold by six months to Jan. 8, 2010, to control prices and curb hoarding, Home Minister Palaniappan Chidambaram said in New Delhi today.
Financier R. Allen Stanford Is Indicted by U.S., to Appear in Court Today R. Allen Stanford, under investigation in an alleged $8 billion fraud involving sales of certificates of deposit through his Antiguan bank, was indicted by a federal grand jury on fraud charges.
Stocks in U.S. Advance, Trimming Week's Decline; Alcoa, Apple Shares Climb U.S. stocks rose for a second day, trimming the first weekly decline in more than a month for the Standard & Poor’s 500 Index, amid growing speculation the recession is easing. Shares in Europe and Asia also climbed.
Antiguan Regulator Leroy King Aided Stanford Fraud, SEC Says in Complaint The U.S. Securities and Exchange Commission said Leroy King, as chief of Antigua’s Financial Services Regulatory Commission, helped R. Allen Stanford conduct a Ponzi scheme in exchange for bribes.
Home Refinancing Program May Expand to Those Who Owe More Than House Value President Barack Obama’s program to help more homeowners refinance may be expanded to include borrowers who owe more than 105 percent of their homes’ values, Federal Housing Finance Agency Director James Lockhart said.
Unemployment Exceeds 10% in Quarter of U.S. States, Threatening Recovery More than one-quarter of American states now have unemployment rates higher than 10 percent, and all but two saw a further deterioration in their job markets in May.
Billionaire Halabi's Real Estate Companies Default on $1.9 Billion of Debt Billionaire investor Simon Halabi’s real estate companies defaulted on 1.15 billion pounds ($1.9 billion) of bonds backed by nine London office buildings as the recession cut the value of the properties by about 50 percent.
Bair Pushes for Expanded FDIC Role in Assessing Companies' Systemic Risk Federal Deposit Insurance Corp. Chairman Sheila Bair said a proposed council to monitor firms for systemic risk needs greater powers, and suggested she will lobby Congress to expand her agency’s authority.
source: Bloomberg
