Indian Railways to Buy New Wagons, Build Coaches to Upgrade Infrastruture Indian Railways, Asia’s oldest rail network, will buy new wagons and build more coaches to upgrade infrastructure and compete with highways to carry goods in the world’s second-fastest-growing major economy.
Tendulkar Urges Government to Diversify Foreign Reserves, Reduce Dollars Suresh Tendulkar, economic adviser to Indian’s Prime Minister Manmohan Singh, is urging the government to diversify its foreign exchange reserves and hold fewer dollars, he said today.
Monsoon Covers Entire Country 12 Days Earlier Than Normal, Aid Plantings India’s monsoon covered the entire country today, 12 days before the normal date, aiding a revival in sowing of rice, corn and oilseeds delayed by below average rains last month, the weather bureau said.
Sensitive Index Advances for a Second Week on India's Investment Proposal India’s stocks rose, driving the benchmark index higher for a second week, led by Larsen & Toubro Ltd., after the government pledged investment in the nation’s railways and left freight and passenger fares unchanged.
Satyam Gaining Customers as Company Recovers From Fraud, CEO Gurnani Says Satyam Computer Services Ltd., the company at the center of India’s biggest corporate fraud probe, is regaining customers after its takeover by Tech Mahindra Ltd., Chief Executive Officer Chander Prakash Gurnani said.
Mukherjee May Increase Spending on the Poor in Indian Government's Budget India’s Finance Minister Pranab Mukherjee may increase spending on power, roads and aid to the poor in next week’s budget to bolster growth in Asia’s third- largest economy.
Rupee Has First Weekly Gain Since May as Indian Spending May Boost Growth India’s rupee completed its first weekly advance since May on speculation government spending will fuel growth in Asia’s third-biggest economy.
India Expects to Raise $386.6 Million From NHPC, Oil India Share Offerings India expects to raise as much as 18.54 billion rupees ($386.6 million) from selling shares in NHPC Ltd., the nation’s largest hydroelectric power generator, and Oil India Ltd., a minister said.
Emerging Markets' Global Equity Share Hits Record; China Tops $3 Trillion Developing countries’ share of worldwide equity value climbed to a record as the fastest- growing economies lured investors amid the first global recession since World War II.
Most Stocks Fall; MSCI World Has Longest Weekly Losing Streak Since March Stocks fell in Europe and Asia, extending the MSCI World Index’s longest weekly losing streak since March, as reports on retail sales and the service industry added to concern the first global recession since World War II will persist. U.S. markets were closed for the July 4 holiday.
European Bonds Post Fourth Weekly Advance as Economic Recovery Sputters European 10-year bonds advanced for a fourth week, the longest winning streak this year, as signs that the economic recovery is faltering stoked demand for the relative safety of fixed income.
Treasury Debt-Purchase Plan May Be Smaller Than Anticipated at $20 Billion The U.S. Treasury Department may begin its program to spur purchases of mortgage-backed securities from banks with about $20 billion in public and private money, down from as much as $100 billion when it was announced in March, two people familiar with the matter said.
HSBC Swiss Private Bank Asked Clients to Give Up Secrecy Protection Rights HSBC Holdings Plc’s Swiss private bank last September asked clients and independent money managers to surrender their right to banking secrecy protection in order to keep securities invested in 28 countries.
GM Says Beijing Auto Submitted Opel Bid as Magna Talks Remain `On Track' General Motors Corp. said Beijing Automotive Industry Holding Co. submitted an offer for its Opel division, giving the bankrupt U.S. automaker more options in the event negotiations with Magna International Inc. fail.
Private-Equity Firms Say FDIC Rules Will Thwart Takeovers of Failed Banks Private-equity firms said the Federal Deposit Insurance Corp. may be diminishing the appetite for future bank takeovers by demanding buyout groups put more capital at risk.
source: Bloomberg
