India Won't Increase Borrowings Because of Drought Risk, Ashok Chawla Says India’s government won’t need to borrow more than estimated in the year to March 2010 even as a drought-like situation threatens its budget targets, Finance Secretary Ashok Chawla said.
Monsoon Deficit Narrows in India's Grain Bowl Region After Return of Rains Monsoon deficit in drought-struck northwest Indian states narrowed after rains returned to the country’s biggest grain and sugar cane growing region after a two-week lull, a weather bureau official said.
India May Produce 16 Million to 18 Million Tons of Sugar, Mills' Jain Says Sugar production in India, the second-biggest grower, may be 16 million to 18 million tons in 2009-2010 after recent rains helped the crop, said S.L. Jain, Director General of the Indian Sugar Mills Association.
Sensitive Index Rises as Monsoon Concern Eases; Consumer Companies Advance India’s benchmark Sensex stock index rose, snapping a two-day 4.7 percent drop, led by consumer companies after the government said a revival in monsoon rains is helping ease dry weather that’s caused widespread drought.
India Plans `Simpler' Mining Law to Cut Delay, Attract Overseas Investment India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help double mining’s contribution to the nation’s $1.2 trillion economy to at least 4 percent.
Sugar's 86% Price Jump May Spur Surplus as Plantings Rise, LMC's Todd Says The 86 percent surge in sugar prices this year will encourage farmers worldwide to increase plantings, potentially leading to a large surplus in two years, said Martin Todd, managing director of LMC International Ltd.
Essar Oil Gains in Mumbai After Bidding to Buy Shell Refineries in Europe Essar Oil Ltd. gained in Mumbai trading on speculation its bid to acquire the U.K.’s second- largest refinery from Royal Dutch Shell Plc would enable the company to boost earnings by selling fuels in Europe.
Most Asian Stocks Decline Amid Growth Concerns; James Hardie Shares Surge Most Asian stocks fell, led by commodity companies, as metals prices declined amid concern the global economic recovery will fall short of investors’ expectations.
Indian Rupee Gains After Biggest Drop in 5 Months Spurs Exporter Demand India’s rupee rose on speculation exporters were taking advantage of yesterday’s slide, the biggest drop in more than five months, to repatriate income.
Housing Starts in U.S. Unexpectedly Decline; Single-Family Starts Increase Housing starts in the U.S. unexpectedly fell in July, pulled down by multifamily dwellings, while single-family starts which make up most of the industry rose to the highest level since October.
Global Stocks, Metals Climb as German Confidence Report Signals Recovery U.S. and European stocks advanced and industrial metals climbed after better-than-estimated earnings at Home Depot Inc. and Target Corp. and an increase in German investor confidence.
Swiss Government Said to Consider UBS Stake Sale After Tax Deal With U.S. The Swiss government will probably sell its stake in UBS AG in the days following the settlement of a U.S. lawsuit that sought data on the bank’s American clients, two people familiar with the matter said.
Home Depot's Second-Quarter Profit Falls Less Than Estimated; Sales Drop Home Depot Inc., the largest home- improvement retailer, reported second-quarter profit that fell less than analysts estimated and increased its full-year earnings forecast after reducing operating expenses.
Posen Says European Central Banks May Be the First to Raise Interest Rates Adam Posen, who joins the Bank of England’s Monetary Policy Committee next month, said central banks in Europe may be the first to raise interest rates if economic growth is sustained.
Truell's Pension Corp. Seeks 2010 Public Offering as Plan Deficits Swell Pension Corp. LLP, the British insurer of pension fund payouts started by Edmund Truell, is considering an initial public offering next year as pension plan deficits widen to their largest on record.
Hertz Plans to Photograph Rental Cars to Boost Damage Payments, CEO Says Hertz Global Holdings Inc. is testing photographic equipment that will scan its vehicles for dings and dents before and after a rental to boost damage payments and save time.
source: Bloomberg
