Central Bank Leaves India's Interest Rates Unchanged on Inflation Concerns India’s central bank kept borrowing costs unchanged, signaling an end to its deepest round of interest-rate cuts on concern that inflation will “creep up” from October.
Anil Ambani Calls India's Oil Ministry Biased in Row With Brother Mukesh Anil Ambani, chairman of Reliance Natural Resources Ltd., accused India’s petroleum ministry of siding with his brother Mukesh Ambani’s Reliance Industries Ltd. in a row over gas, saying it was “partisan and biased.”
Adani Power IPO Oversubscribed on Bids from Credit Suisse, T. Rowe, CLSA Indian billionaire Gautam Adani’s power company said investors including Credit Suisse and T. Rowe Price International Inc. demanded more than three times as many shares as offered in its initial sale to fund new generators.
Sensitive Index Declines After Indian Central Bank Leaves Rates Unchanged India’s stocks fell for a second day. ICICI Bank Ltd. led lenders lower after the central bank kept interest rates unchanged at a meeting today, while Tata Motors Ltd. surged after earnings beat analysts’ estimates.
Rupee Weakens as India's Importers Increase Dollar Purchases After Rally India’s rupee weakened for the first time in four days on speculation the nation’s importers increased purchases of foreign currency to settle month-end payments.
Indian Government to Sell Small Stakes in State-Run Units, Mukherjee Says The Indian government plans to sell small stakes in state-run companies while retaining majority control, Finance Minister Pranab Mukherjee said.
Ten-Year Bonds Advance as Reserve Bank of India Pledges to Keep Ample Cash India’s 10-year bonds rose after the central bank pledged to maintain ample cash in the banking system to boost growth, easing concern that it would start withdrawing its accommodative monetary policy.
Sugar May Reach 28-Year High on Global Deficit, India's Biggest Mill Says Raw sugar prices may reach a 28-year high in the next six months as a production shortfall in India, the world’s biggest user, worsens a global deficit for a second year, the nation’s largest producer said.
Stocks in India May Drop by Maximum 5% After Gains, Sahara's Sridhar Says Indian stocks may face a “small correction” of not more than 5 percent following their gains this year, according to A.N. Sridhar, a fund manager at Sahara Asset Management Co. in Mumbai.
Home-Price Declines in 20 U.S. Cities Moderate, Case-Shiller Index Shows Home prices in 20 U.S. metropolitan areas climbed in May from the previous month for the first time in three years, another sign the market is stabilizing.
U.S. Stock Futures Decline on Office Depot, Coach Profit; Citigroup Drops U.S. stock futures dropped after a two-week rally pushed the Standard & Poor’s 500 Index to its most expensive level relative to earnings since September and companies from Office Depot Inc. to Coach Inc. posted worse- than-estimated results.
AIG Unit Keeps $2.4 Billion From Asset Sales as Taxpayers Wait for Payment American International Group Inc., the insurer dismantling itself to repay U.S. loans, used $2.4 billion from asset sales to shore up a property-casualty unit instead of paying down its government credit line.
Viacom Profit Drops 32% on Falling Advertising Sales, Box-Office Revenue Viacom Inc., owner of MTV Networks and the Paramount Pictures film studio, said second-quarter profit fell 32 percent because of an advertising slump and declining movie revenue.
Currency-Trading Volumes May Take Years to Recover as Risk Appetite Slumps Currency-trading volumes may take years to recover after a plunge in risk appetite sparked by the global financial crisis drove away hedge funds and speculators, according to foreign-exchange analysts.
source: Bloomberg
