India Increases Royalty Charged on Mining Iron Ore, Copper, Bauxite India increased the royalty it charges from mining companies on iron ore to 10 percent to help the nation’s states earn more revenue.
Indian Stocks Fall Most in Six Weeks Led By Metal Producers as Prices Slip India’s benchmark Sensex stock index fell the most in six weeks, led by Sterlite Industries (India) Ltd., after metal prices dropped on concerns a recent rally in commodities isn’t justified by economic prospects.
Rupee Approaching `Important' Level, Signaling Losses: Technical Analysis India’s rupee is testing a key level that indicates the currency may slide further against the dollar, Standard Chartered Plc said, citing trading patterns.
Monsoon Rain Revival Helps India Cane, Soybean Crops, Weather Bureau Says A revival in India’s monsoon rains is helping ease dry weather that’s caused drought in a third of the nation’s districts and dented sowing of rice and sugar cane, a weather bureau official said.
Sharma Will Explore New Overseas Markets to Fight India's Exports Decline India will seek new customers for overseas sales as recessions in the U.S. and Europe damp demand for the nation’s products, Trade Minister Anand Sharma said.
Sensex Index May Fall 15% as Drought Reduces India's Farm Output, Spending Indian stocks may decline as much as 15 percent on concern that lower monsoon rainfall will slash farm output and cut consumer spending, Bank of America Merrill Lynch said.
Sugar Mills Agree to Boost Supplies to Calm Prices, Minister Pawar Says India, importing sugar for the first time in three years, said mills agreed to boost the availability to cool record prices, Farm Minister Sharad Pawar said.
Rupee Drops to Lowest in Four Weeks on Concern Global Recovery Is Slowing India’s rupee fell the most in 5 1/2 months after a drop in foreign direct investment into China and an unexpected decline in U.S. consumer confidence spurred a slide in regional stocks.
Sugar Price Advancing to 40 Cents Is `Wishful Thinking,' ISO's Baron Says Bets sugar will climb 80 percent to 40 cents a pound are “wishful thinking” because a further jump in prices will force importers to slow buying, said Peter Baron, Executive Director of the International Sugar Organization.
Stocks Drop Around World on Economy Concern; Yen, Dollar, Treasuries Gain Stocks fell around the world, led by China, while the yen and dollar advanced and Treasuries rose as investors speculated that a rally in riskier assets has outpaced prospects for economic growth.
Fed Extends TALF Program to Bolster Lending for Commercial Property, Autos The Federal Reserve extended by three to six months an emergency program aimed at restarting credit markets, a move that may cushion the commercial real- estate industry from rising defaults and falling prices.
New York-Area Manufacturing Grows First Time Since 2008 as Recession Wanes Manufacturing in the New York region grew in August for the first time in more than a year, reinforcing signs the worst recession since the 1930s is nearing an end.
Lowe's Falls After Missing Estimates as Consumers Curb Remodeling Projects Lowe’s Cos., the second-largest U.S. home-improvement retailer, fell as much as 11 percent in New York trading after posting profit that trailed analysts’ estimates and narrowing its full-year forecast.
Citigroup May Pressure Hall, Phibro Traders to Take Pay in Stock Not Cash Citigroup Inc., under pressure from the Obama administration to reduce executive compensation, may try to persuade energy trader Andrew Hall to accept stock instead of cash in 2010 after paying him about $100 million last year, people familiar with the matter said.
Lehman Collapse `Alarmed and Surprised' Gieve After Rescue of Bear Stearns Lehman Brothers Holdings Inc.’s collapse in 2008 surprised former Bank of England Deputy Governor John Gieve because the rescue of Bear Stearns Cos. led him to assume U.S. officials would save investment banks.
source: Bloomberg
