India Beats China in Auto Exports Amid `World-Wide Shift' to Smaller Cars India, whose auto market is 19 percent of China’s, has the edge in exports.
Rain Revival Signals `Worst Over' for India Drought, Crops, Official Says A revival in India’s monsoon rains is helping ease dry weather that’s caused drought in more than a third of the country, aiding crops in the world’s second-biggest producer of rice, wheat and sugar, a weather official said.
Uttam Galva to Sell Additional Shares to ArcelorMittal If Open Offer Fails Uttam Galva Steels Ltd. founders will sell shares to ArcelorMittal if an offer by the world’s largest steelmaker to raise its stake in the Indian producer fails after the stock price jumped 21 percent in two days.
Sensex Advances to 15-Month High; Tata Consultancy, Hero Honda Motors Gain India’s benchmark stock index rose to a 15-month high after the finance minister reiterated a Group of 20 Nations statement signaling they would not end stimulus measures and the government said monsoon rains may improve.
G-20 Finance Chiefs Vow to Sustain Economic-Stimulus Plans, Discuss Exit Group of 20 finance ministers agreed to maintain economic stimulus measures after U.K. Prime Minister Gordon Brown warned against a premature end of emergency spending and rescue programs.
Bharat Heavy, Nuclear Power to Name Overseas Partner for Venture This Year Bharat Heavy Electricals Ltd., India’s biggest power equipment maker, and Nuclear Power Corp. of India may name an overseas partner by October for a venture to build atomic plants in the country.
Mukherjee Says India's Growth May Slow This Quarter on Lower Farm Output India’s economic expansion may slow this quarter and next as a shortage of rain reduces harvests, Finance Minister Pranab Mukherjee said.
Indian Oil Shares Surge in Mumbai on Proposal to Issue Free Bonus Shares Indian Oil Corp., the nation’s biggest refiner, climbed to its highest in more than 19 months in Mumbai after saying it plans to give free shares to investors.
India Cotton Exports May Double Next Year As Demand Increases, Group Says Cotton exports from India, the world’s second-biggest grower, may double in the crop year starting October as higher domestic prices encouraged farmers to grow the fiber amid a forecast global production shortfall.
Tata Motors Shares Gain Most in 3 Months in Mumbai on Monsoon's Revival Tata Motors Ltd., India’s biggest truck maker, gained the most in more than three months in Mumbai on optimism that a revival in monsoon rains will aid the economy, spurring demand for commercial vehicles.
Kraft to Pursue $16.7 Billion Cadbury Bid as Chocolate Maker Rejects Offer Kraft Foods Inc., the second-largest food company, said it will pursue a takeover of Cadbury Plc after the British maker of Trident gum and Dairy Milk chocolate rejected a 10.2 billion-pound ($16.7 billion) bid.
Stocks Rise for Third Day on Mergers, G-20 Pledges on Economy; Yen Weakens Stocks rose for a third day as Kraft Foods Inc.’s $16.7 billion offer for Cadbury Plc spurred speculation mergers will increase and the Group of 20 nations pledged to bolster the economy. The yen fell.
UN Calls for New Global Reserve Currency to Fix Broken `Confidence Game' The dollar’s role in international trade should be reduced by establishing a new currency to protect emerging markets from the “confidence game” of financial speculation, the United Nations said.
Greenspan Says Banks Should Be Forced to Boost Capital on Balance Sheets Former Federal Reserve Chairman Alan Greenspan said banks should be forced to hold more capital on their balance sheets, reinforcing a weekend push by finance chiefs from the Group of 20 nations.
Abu Dhabi to Buy Temasek-Backed Chartered Semiconductor for $1.8 Billion Abu Dhabi agreed to buy Singapore’s state-controlled Chartered Semiconductor Manufacturing Ltd. for S$2.5 billion ($1.8 billion) to create a challenger to the world’s second-biggest maker of customized chips.
BTA Creditors Face Losses of Up to 82.25% as Kazakh Bank Restructures Debt BTA Bank creditors face losses of as much as 82.25 percent after Kazakhstan’s biggest bank offered to restructure $10.3 billion of debts following its default earlier this year.
G-20 Finance Chiefs Propose Banks Curb Bonuses, Increase Capital Holdings World leaders gathering in Pittsburgh this month may take the biggest step to curbing the pay and profits of bankers after their economic policy makers narrowed differences over bonuses and capital rules.
source: Bloomberg
