India's Central Bank Signals Higher Borrowing Costs on Inflation Threat India’s central bank indicated it may raise borrowing costs as the “accommodative” policy it started in October threatens to stoke inflation.
Sensex Advances for Sixth Day; Bharti Airtel Leads Gain on Merger Report India’s benchmark stock index rose for a sixth day, its longest winning streak in more than four months. Bharti Airtel Ltd. gained on reports that it may agree to a potential $23 billion merger deal sooner than expected.
Tata Steel Swings to First-Quarter Loss on Production Cuts in Corus Unit Tata Steel Ltd., India’s biggest producer, posted an unexpected loss in its first quarter because of lower prices and production cuts at unit Corus.
India to Complete 3G Wireless Spectrum Auction in 3 Months, Minister Says India, the world’s second-largest mobile-phone market by users, aims to complete an auction of licenses for high-speed wireless services within three months, Communications Minister Andimuthu Raja said.
UBS Sets India's Sensex Index Target at 20,000 by March 2011 on Economy India’s Bombay Stock Exchange Sensitive Index may rise to 20,000 by March 2011, helped by a recovery in the economy and company earnings, UBS AG said.
Harley-Davidson to Start Selling Motorcycles in India as U.S. Growth Slows Harley-Davidson Inc., the biggest U.S. motorcycle maker, plans to start sales in India from next year as it seeks growth in emerging markets to offset a slump in domestic demand.
Monsoon Rains in India 5% Below Average in Week Ended Aug. 26, Bureau Says India’s monsoon rainfall, the main source of irrigation for the nation’s 235 million farmers, was above average in most parts of the country, helping crops of rice, sugar cane and soybeans reeling from moisture stress.
India Swaps Exaggerate Risk of 2009 Central Bank Rate Increase, DBS Says India’s swap rates are exaggerating the risk of the central bank raising borrowing costs, providing investors an opportunity to profit by receiving fixed payments, DBS Group Holdings Ltd. said.
Citigroup Appoints Duttagupta as Head of Asia Wealth Management Business Citigroup Inc., the world’s biggest financial services company, named Debashish Duttagupta as head of its wealth management business in Asia.
Indians to Shop More This Festive Season Amid Signs of Economic Recovery Indian consumers, undeterred by scanty rainfall, will buy more refrigerators, microwaves and TVs this festival season amid signs the world’s second-fastest growing economy is recovering from the global recession.
FDIC List of Problem U.S. Banks Rises to 416, Putting Reserve Fund at Risk The U.S. added 111 lenders to its list of “problem banks,” a jump that suggests rising bank failures may force the Federal Deposit Insurance Corp. to deplete a reserve fund that shrank 40 percent this year.
Economy in U.S. Shrank 1% in Second Quarter, Less Than Economists Forecast The U.S. economy took a first step toward recovering from the worst recession since the 1930s in the second quarter as companies reduced inventories, spending started to climb and profits grew.
Boeing Advances After Saying 787 Will Still Be Profitable With 2010 Launch Boeing Co. jumped the most since December in New York trading after saying it still expects the 787 Dreamliner program to be profitable following a $2.5 billion third-quarter charge for the delayed plane.
Lloyds May Sell Part of Fund Management Unit, Weighs Scottish Widows IPO Lloyds Banking Group Plc may sell part of its fund management business, including a possible initial public offering of Scottish Widows, to raise cash after its bailout, two people familiar with the talks said.
AIG May Raise Less Than $2 Billion Target in Sale of Taiwan Insurance Unit Bidders for American International Group Inc.’s Taiwanese life insurance unit may offer less than the U.S. insurer’s $2 billion target, three people with knowledge of the matter said.
Lacker Says Fed May Not Need to Buy All $1.25 Trillion of Mortgage Bonds The Federal Reserve may not need to buy the full $1.25 trillion in mortgage-backed securities the central bank has authorized by year-end as the economy improves, Richmond Fed President Jeffrey Lacker said.
Royal Bank, Toronto-Dominion, National Beat Estimates on Trading Revenue Royal Bank of Canada and National Bank of Canada reported record profits and Toronto-Dominion Bank’s earnings topped analysts’ estimates as Canadian lenders benefited from surging trading revenue and a housing market rebound.
source: Bloomberg
