Reliance May Seek Oil Fields Abroad to Cut Risk of `Too Much' India Focus Reliance Industries Ltd. may buy oil fields in the Gulf of Mexico and Brazil to hedge the risk of investing in India where a dispute over pricing of gas is shaving $100 million off monthly sales.
MTN Should Keep S. African Character to Win Approval to Merge With Bharti MTN Group Ltd. should keep its South African features to win approval to combine with India’s Bharti Airtel Ltd., a communications ministry spokesman said.
Oil India Raises 27.8 Billion Rupees in IPO; Shares to Debut on Sept. 30 Oil India Ltd., which got $16 billion of bids in an initial public offering last week, raised 27.8 billion rupees ($570 million) selling shares at 1,050 rupees apiece.
Sensex Drops for First Time in Seven Days; Metal Producers Lead Declines India’s benchmark stock index fell from a 15-month high, its first drop in seven days, as Sterlite Industries (India) Ltd. led declines among metal producers after copper prices slumped.
India to Start Auction for High-Speed Mobile-Phone Service Permits Dec. 7 India, the world’s second-largest wireless market by users, said it will start accepting bids for licenses to offer high-speed services on Dec. 7, a move that may help boost revenue at Bharti Airtel Ltd. and other carriers.
Indian Oil Spending $12 Billion to Expand Refineries, Build Chemical Units Indian Oil Corp., the nation’s biggest refiner, is currently implementing 600 billion rupees ($12 billion) of projects including capacity expansion at crude processing plants and building chemical units.
Rupee Drops Most in a Month as Global Funds Trim Holdings on Dip in Stocks India’s rupee weakened the most in a month versus the dollar on speculation losses in the nation’s benchmark share index will discourage investors from adding to their holdings of local assets.
Deutsche Raises Indian Sensex Stock Index Target by 14% as Monsoon Revives India’s Bombay Stock Exchange Sensitive Index may rise to 16,500 by September 2010, as a revival in rainfall and farm output lowers the risk of a “sharp” decline in economic growth and company earnings, Deutsche Bank AG said.
Bank of America Settlement With SEC Over Merrill Bonuses Rejected by Judge Bank of America Corp.’s $33 million settlement with the U.S. Securities and Exchange Commission over Merrill Lynch & Co. bonuses was rejected by a federal judge, who said the case must now go to trial on Feb. 1.
U.S. Stocks Fluctuate as Shares of Utilities, Industrial Companies Advance U.S. stocks fluctuated as gains in utilities and industrial companies helped the market overcome an early slump spurred by concern the recent rally outpaced prospects for earnings growth.
Dollar Diminishing Makes U.S. Trader Favorite for Funding High-Yield Bets Betting against the dollar is becoming the trade investors can’t afford to ignore.
Citigroup's Parsons Says Bank to Repay TARP Funds, Provide `Decent Return' Citigroup Inc. will be able to repay funds from the U.S. Troubled Asset Relief Program and taxpayers will make a profit, Chairman Richard Parsons said.
U.K. Banks to Post Further $215 Billion Loss on Weak Economy, Moody's Says U.K. banks are less than half way through posting 240 billion pounds ($398 billion) of losses on loans and securities, a reflection of the country’s economic weakness, according to Moody’s Investors Service Ltd.
Lilly to Eliminate 5,500 Jobs by 2011 as Drugmaker Aims to Save $1 Billion Eli Lilly & Co. will shed about 5,500 jobs, or about 14 percent of its workforce, and reorganize to save $1 billion in costs, the company said today.
Germany Said to Get $11 Billion of Orders for $4 Billion Dollar-Bond Sale Germany received more than $11 billion of orders for its $4 billion bond sale, its first issue in the currency since 2005, according to a banker familiar with the transaction.
source: Bloomberg
