Sensex Climbs for Fifth Day After Mukherjee's Comments on Borrowing Costs India’s benchmark stock index rose for the fifth day after Finance Minister Pranab Mukherjee said policy makers need to keep borrowing costs at a record low to aid a nascent economic recovery.
Drought to Keep India's Cooking Oil Purchases at Record for Second Year India, the biggest vegetable oils buyer after China, may import record volumes for a second year after a drought in almost half the country damaged oilseed crops, a processors’ group said.
India `Waking Up' to Extended Period of High Economic Expansion, UBS Says India may be “waking up” to an extended period of high-trend economic expansion that will cause incomes to triple over the next decade, according to UBS AG.
Reliance Communications to Shortly File Prospectus for Infratel Share Sale Reliance Communications Ltd., India’s second-largest wireless carrier, will soon seek regulatory approval for an initial share sale of a 10 percent stake in its Reliance Infratel Ltd. unit, Chairman Anil Ambani said, without providing a timeline.
Rupee Strengthens to Six-Week High as Indian Stocks Draw Funds From Abroad India’s rupee advanced to the strongest closing level in six weeks on optimism foreigners will pour more money into the nation’s shares, lured by the economy’s relatively fast growth.
Indian Companies Pay More Tax, Suggesting Faster Pace of Economic Recovery Taxes paid by Indian companies more than doubled in the three months through September, suggesting growth in Asia’s third-biggest economy may be strengthening.
Asia to Expand Faster Than Expected as Growth in India Revives, ADB Says The Asian Development Bank raised its economic growth forecast for the region on strengthening expansions in China, India and Indonesia, and said it’s too early for governments to withdraw stimulus policies.
NTPC to Sign Gas Agreement With Reliance in Two Days for North India Units NTPC Ltd., Asia’s biggest power utility by value, will sign an agreement to buy natural gas from Reliance Industries Ltd. in two days to increase fuel supplies to plants other than those facing lawsuits.
Cipla to Sell Shares to Institutional Investors for 263.75 Rupees Apiece Cipla Ltd. plans to sell shares to institutional investors for at least 263.75 rupees, according to a sale document filed to the National Stock Exchange today.
Kagara, Cudeco May Be Targets For Indian Companies After Change in Law Kagara Ltd. and CuDeco Ltd. are among companies that may be targets for Chinese and Indian companies after Australia changed its foreign investment laws to attract overseas funds, Citigroup Inc. said.
Home Prices in U.S. Increased 0.3% in July, Less Than Economists Estimated U.S. home prices rose 0.3 percent in July from the previous month, less than analysts’ estimates, in a sign that the housing recovery is tenuous.
Stocks in U.S. Advance, Extending Global Rally, as Dollar Falls, Oil Gains U.S. stocks rose, extending a global advance in equities, on signs the world economy is improving and analyst upgrades of companies from Macy’s Inc. to Hewlett-Packard Co. The dollar fell to a one-year low against the euro, while oil, gold, copper and Treasuries gained.
Bank of America Will Pay for Merrill Guarantees as SEC to Sue Over Bonuses Bank of America Corp., seeking to reduce its need for federal support after two bailouts, will pay $425 million to cancel an unused government guarantee of Merrill Lynch & Co.’s assets.
Singapore Investment Fund Cuts Citigroup Stake, Realizes $1.6 Billion Gain The Singapore government pared its stake in Citigroup Inc. to less than 5 percent, realizing a $1.6 billion profit as the city-state’s investment companies reduce holdings in European and U.S. banks.
Cadbury Said to Have Asked Takeover Panel to Force Kraft to Submit Offer Cadbury Plc, the world’s second- biggest candy maker, asked U.K. regulators to force Kraft Foods Inc. to make a formal takeover bid or walk away from its proposal, according to two people familiar with the situation.
Ford Said to Build Third China Factory as Economic Growth Spurs Car Sales Ford Motor Co. will build a third car factory in China as the nation’s economic growth spurs auto demand, two people familiar with the plans said.
AIG Extends Rally After Lawmaker Says Bailout Terms Should Be Reconsidered American International Group Inc., the insurer bailed out by the U.S., extended its rally for a second day, exceeding the company’s highest closing share price this year.
source: Bloomberg
