Mukherjee Says Budget Deficit a `Risk Worth Taking' to Boost Indian Growth India’s Finance Minister Pranab Mukherjee told industry leaders that the widest budget deficit in 16 years will be a “risk worth taking” to stimulate economic growth.
Stocks in India Rebound as Macquarie Raises Target; Maruti, Grasim Advance Indian stocks rose, rebounding from their biggest loss in six months, after Macquarie Group Ltd. raised its target for the benchmark index and said markets “overreacted” to the government budget yesterday.
Rupee Advances to One-Week High on Speculation Exporters Bought Currency India’s rupee gained the most in a week versus the dollar on speculation exporters converted overseas earnings into the local currency after it had the steepest drop in six weeks yesterday.
India's May Iron-Ore Exports Increase on Higher China Demand, Group Says India’s iron-ore exports rose in May after falling for two months as China, the world’s largest consumer of the steel-making raw material, increased purchases.
Soybean Farmers in Central India May Complete Sowing as Rains Gather Pace Soybean farmers in India, the world’s biggest buyer of vegetable oils after China, may complete sowing as rains gather pace over the biggest growing areas.
Bonds Decline for Second Day as India Increases Debt-Sale Target to Record Indian bonds declined for a second day after the government raised its annual debt-sale target by 25 percent to a record, seeking to bridge a budget deficit that’s set to reach the widest in 16 years.
India's Supreme Court Schedules Reliance Gas Dispute Hearing on July 20 India’s Supreme Court will hear a dispute over the sale of natural gas by Reliance Industries Ltd. to Reliance Natural Resources Ltd. on July 20 as the five-year wrangle between the Ambani brothers enters the final stage.
Macquarie Raises India's Sensex Target, Says Markets Overreacted to Budget Macquarie Group Ltd. raised its April 2010 target for India’s benchmark stock index by 20 percent, saying markets “overreacted” yesterday after the government forecast its widest budget deficit in 16 years.
India Proposal to Double Import Tax on Gold, Silver May Lead to Smuggling India’s plan to double import duty on gold may lead to smuggling of bullion into the world’s biggest consumer, undermining efforts by the government to raise funds to build infrastructure and ensure food for the nation’s poor.
Asian Stocks Fall for Fifth Day; Commodity Shares Decline, Utilities Rise Asian stocks fell, sending the MSCI Asia Pacific Index to its first five-day drop since October, as commodity shares fell on lower oil and metal prices. Utilities and technology companies advanced.
Oil, Gas, Commodity Market Speculation May Face Restrictions by U.S. CFTC U.S. regulators say they may clamp down on oil and gas price speculators by limiting the holdings of energy futures traders, including index and exchange-traded funds.
Stocks in U.S. Retreat on Earnings Concern; Discover, Exxon, Chevron Drop U.S. stocks fell, erasing yesterday’s gain, as energy shares slid on lower oil prices and concern grew that earnings will fail to justify the four-month surge that lifted the Standard & Poor’s 500 Index as much as 40 percent.
Goldman May Lose Millions From Software Theft, More Competition, U.S. Says Goldman Sachs Group Inc. may lose its investment in a proprietary trading code and millions of dollars from increased competition if software allegedly stolen by a former employee gets into the wrong hands, a prosecutor said.
Home-Equity Delinquencies in U.S. Set Record as Economy Ravages Borrowers Late payments on home-equity loans rose to a record in the first quarter as 18 straight months of job losses and a slumping economy left more borrowers unable to pay their debts, the American Bankers Association reported.
Debt Burden Accelerates Global Power Shift as G-8 Countries Lose Influence The world’s most affluent nations will take decades to work off the biggest buildup in debt since World War II. The political costs may be permanent, laid bare at this week’s Group of Eight summit of leading industrial powers.
Lear Files for Bankruptcy Protection After Creditors Back Reorganization Lear Corp., the world’s second- largest maker of car seats, sought bankruptcy protection after winning support from the majority of creditors for a reorganization plan.
SEC Said to Trim Management Ranks at Enforcement Unit to Limit Bureaucracy The U.S. Securities and Exchange Commission is eliminating supervisory jobs in the enforcement division as it seeks to reduce bureaucracy and speed response to financial-market threats, people familiar with the plans said.
source: Bloomberg
