Sensex Index Rises, Erasing Earlier Loss; Software Companies Lead Advance India’s benchmark stock index rose the most in a week, reversing earlier losses. Sterlite Industries (India) Ltd. and Hindalco Industries Ltd. led commodity producers higher after metals prices jumped.
Essar Group of India Plans to Raise as Much as $1 Billion by Selling Bonds Essar Group, the Indian partner of Vodafone Group Plc, plans to raise as much as $1 billion by selling bonds, according to an e-mail obtained by Bloomberg News.
Gold Futures Advance to Record in New York on Inflation, Dollar Concern Gold rose to a record on speculation that currencies will depreciate, spurring inflation and boosting the appeal of the precious metal for investors seeking to preserve their wealth.
Bonds Slide After Central Bank's Subbarao Signals Tighter Monetary Policy India’s 10-year bonds fell, driving up yields from their lowest level in more than a week, after central bank Governor Duvvuri Subbarao signaled he may need to tighten monetary policy before advanced economies.
Subbarao Says India Central Bank Faces Dilemma on Timing of Rate Increases India faces a dilemma on when to raise borrowing costs to contain inflation pressures as the economic recovery “remains weak,” central bank Governor Duvvuri Subbarao said.
Rupee Rises to One-Year High as Central Bank Signals Higher Interest Rates India’s rupee rose to a one-year high after the central bank signaled it may start to raise interest rates to damp inflation, boosting the appeal of the nation’s high-yielding assets.
Reliance Industries Says Reliance Natural Doesn't Have Rights to Trade Gas Reliance Industries Ltd., the operator of India’s biggest natural gas field, said Reliance Natural Resources Ltd. doesn’t have contractual rights to trade in the fuel following the split of the Ambani family business.
Hindustan Dorr Climbs By Daily Limit After Winning $28 Million Smelter Job Hindustan Dorr-Oliver Ltd., an Indian engineering company, climbed by its daily limit in Mumbai after winning a 1.3 billion-rupee ($28 million) order to help expand a smelter for a unit of London-based Vedanta Resources Plc.
ONGC Videsh in Talks to Buy Stake in Iran's South Pars Natural Gas Field India’s Oil & Natural Gas Corp. is in talks with Iran’s state-owned Petropars Ltd. to buy a stake in South Pars, the country’s largest natural gas field, as it seeks to offset declining production at its aging domestic wells.
Gangavaram Port Plans to Borrow 7 Billion Rupees to Add Berths on Demand Gangavaram Port Ltd., the Indian port part-owned by Warburg Pincus LLC, may borrow as much as 7 billion rupees ($147 million) from banks to add two berths.
U.S. Stocks Extend Global Rally After Australia Rate Increase; Gold Rises U.S. stocks rose, extending a global rally, as investors speculated third-quarter earnings will top estimates and Australia’s central bank raised interest rates on signs of economic strength. The dollar weakened, boosting oil prices and sending gold to a record.
Gold Jumps to Record $1,045 an Ounce as Outlook for Inflation Fuels Demand Gold rose to a record on speculation that currencies will depreciate, spurring inflation and boosting the appeal of the precious metal for investors seeking to preserve their wealth.
U.S. Economy Is on the Mend, Housing Is Poised for Rebound, LaVorgna Says The U.S. economy is on the mend and housing is poised for a rebound, said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York.
Goldman Profit Joined by Intel Give Earnings a `Pulse' After Record Drop Goldman Sachs Group Inc., JPMorgan Chase & Co. and Intel Corp. may lead companies worldwide to the first profit increases in more than two years this quarter, ending the longest earnings recession on record.
Reverse-Mortgage Abuse May Trigger Next Financial Crisis, Law Center Says Reverse mortgages may be the next subprime crisis, according to the National Consumer Law Center.
Kyle Bass Buying Mortgage-Backed Bonds, Junk Debt on Hyperinflation Risk Kyle Bass, the hedge-fund manager who made $500 million in 2007 betting against subprime securities, is buying shorter-term debt and precious metals, anticipating hyperinflation will lead to higher interest rates.
Emerson Electric Will Acquire Avocent for $1.2 Billion, Add IT Management Emerson Electric Co., the maker of power and cooling systems for data centers, agreed to buy Avocent Corp. for about $1.2 billion to add devices used to monitor computer networks.
source: Bloomberg
