Indian Potash `Very Close' to Signing Uralkali Deal at $460 a Metric Ton Indian Potash Ltd. said it is “very close” to signing a purchase agreement with the trading joint venture of OAO Uralkali, Russia’s second-largest producer of the fertilizer raw material, at about $460 a metric ton.
Indian Lawmakers Approve Budget as Finance Minister Vows to Cut Deficit India’s parliament approved this year’s budget as Finance Minister Pranab Mukherjee vowed to trim the fiscal deficit after economic growth picks up.
Pakistan Requests $4 Billion More From IMF as Taliban War Slows Investment Pakistan has requested $4 billion more in International Monetary Fund aid as part of an effort to shore up its economy amid a war with Taliban insurgents, said Shaukat Tarin, finance adviser to the prime minister.
Steven Spielberg, Billionaire Anil Ambani Plan $825 Million Film Funding Steven Spielberg and Indian billionaire Anil Ambani plan to spend $825 million to produce films, Ambani’s Reliance BIG Entertainment said.
Daiichi Sankyo to Delay Offer for 20% of India's Zenotech on Court Order Daiichi Sankyo Co., Japan’s third- largest drugmaker, will delay its offer to buy 20 percent of India’s Zenotech Laboratories Ltd. on an order by the Madras High Court because of a dispute over price.
Rupee Climbs for a Second Day as Global Growth Prospects May Spur Inflows India’s rupee rose the most in more than two weeks as a stocks rally added to speculation improved prospects of global economic growth will spur capital inflows.
Ten-Year Bonds Decline as India Says Unlikely to Lower Weekly Debt Sales India’s 10-year bonds fell for a second day after the government said its weekly debt sales are unlikely to drop below 150 billion rupees ($3.1 billion).
India to Maintain Import Tax on Palm Oil to Ensure Prices are Affordable India, the world’s largest buyer of vegetable oils after China, has no plans to increase duties on imports of palm oil to ensure supplies at “affordable” rates, Commerce Minister Anand Sharma said.
National Commodity Bourse Seeks At least $10 Million From Investors Abroad The National Multi-Commodity Exchange of India plans to raise at least 500 million rupees ($10 million) selling shares to private equity investors and commodity bourses overseas.
Stocks in U.S. Advance on Intel Outlook, Industrial Output; Exxon Climbs U.S. stocks rose, extending a global rally, after Intel Corp. forecast sales that beat analysts’ estimates and New York manufacturing shrank at the slowest pace in more than a year. Treasuries fell for a third day and the dollar and yen also dropped.
U.S. Factory Gauges Top Estimates in Signal Manufacturing Is Stabilizing Industrial production shrank less than forecast and a New York regional factory gauge showed the smallest contraction in more than a year, signaling manufacturing is on the verge of stabilizing.
Bank of America Urged by Oversight Chairman to Pay Up for Merrill Backstop Bank of America Corp., the largest U.S. bank by assets, benefited from implied federal backing on about $118 billion of Merrill Lynch & Co. assets and owes the government compensation, the chairman of a House of Representatives committee studying the purchase of Merrill said.
Paulson Says Talks With Bank of America on Merrill Deal Were `Appropriate' Former Treasury Secretary Henry Paulson said letting Bank of America Corp. scuttle its takeover of Merrill Lynch & Co. last year was “unthinkable,” and his remarks about ousting management were “appropriate.”
Franklin Resources Said to Drop Out of Talks to Buy AIG Investment Unit Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, has dropped from talks to buy an American International Group Inc. investment unit, according to two people familiar with the matter.
Former Credit Suisse Broker Eric Butler Hit With New Fraud Charges by U.S. U.S. prosecutors filed new charges against former Credit Suisse Group AG broker Eric Butler, who is scheduled to go to trial next week for fraudulently selling clients subprime mortgages linked to auction-rate securities.
Reliance Industries Gasoline Cargo Due in New York as Fuel Prices Decline Reliance Industries Ltd., the Mumbai-based refiner seeking to compete overseas, has sent its first shipment of gasoline in two years to the U.S. from its new plant, a shipbroker said.
source: Bloomberg
