Indian Wholesale Prices Climb a Fourth Straight Week, Creating `Quandary' India’s wholesale prices rose for a
fourth week, making it harder for central bank Governor Duvvuri
Subbarao to keep interest rates low and boost economic growth
without fanning inflation.
Most Indian Stocks Advance; Tata Steel Gains, Bharti Falls for Fourth Day India’s stocks rose after Finance
Minister Pranab Mukherjee said on CNBC-TV18 the nation’s
economic growth will accelerate. Reliance Industries Ltd. gained
after it gave bonus shares to investors.
Essar Considers Selling Stakes in Oil, Shipping Units in Global Expansion Essar Group, which runs India’s
second-largest private refiner, may sell stakes in its oil and
shipping units as part of a global expansion plan, said Prashant
Ruia, the group’s chief executive officer.
Larsen & Toubro Raises $600 Million From Sale of Shares, Convertible Bonds Larsen & Toubro Ltd., India’s biggest
engineering company, raised $600 million selling shares and
bonds to institutional investors to fund expansion in its
emerging businesses, including railways and defense.
Preuksa's India Sales May Help Thai Developer Boost 2010 Revenue, CEO Says Preuksa Real Estate Pcl, Thailand’s
second-biggest developer, expects to add 1 billion rupees ($22
million) to revenue in 2010 from home sales in India, Thongma
Vijitpongpun, the company’s president, said.
Rupee Rises to 13-Month High on Speculation India Growth to Lure Investors India’s rupee advanced to the
strongest level in almost 13 months on speculation faster
economic growth will help draw funds from abroad.
Ahluwalia Sees No Case for Ending Stimulus Until India Growth Reaches 7% India sees no case for withdrawing
economic stimulus, and policy makers should wind down an
accommodative monetary policy only when economic expansion
reaches 7 percent, a key government adviser said.
Drought May Reduce Rice Production in India by 18%, FAO's Calpe Predicts Drought in India may slash rice
output in the world’s second-largest grower by about 18 percent
this year, cutting global supplies available for importers, a
United Nations official said.
SRF to Spend $214 Million on Chemicals Factory to Boost Margins, Ram Says SRF Ltd., an Indian tire cord and
chemicals maker, plans to spend about 10 billion rupees ($214
million) on a new factory to make fluorine-based products for
sales overseas.
U.S. Stocks, Commodities Rise on Alcoa Earnings, Decline in Jobless Claims U.S. stocks gained after Alcoa Inc.
started the third-quarter earnings season with an unexpected
profit and jobless claims decreased more than forecast.
Commodities climbed as the dollar weakened, while Treasuries
were little changed.
Initial Jobless Claims in U.S. Decrease 33,000 to 10-Month Low of 521,000 The number of Americans filing
first- time claims for unemployment benefits fell last week to
the lowest since January, a sign the labor market is
deteriorating more slowly as the economy emerges from the
recession.
ECB, Bank of England Leave Rates Unchanged to Support Economic Recoveries The European Central Bank and the
Bank of England kept their benchmark interest rates at record
lows to support a recovery from the worst economic slump since
World War II.
Retail Sales in U.S. Climb for the First Time in 13 Months on Discounting U.S. retail sales rose for the first
time in 13 months as September results at American Eagle
Outfitters Inc. and Kohl’s Corp. topped analysts’ estimates and
discounts drew shoppers back to stores.
Thirty-Year Mortgage Rates in U.S. Drop to Near-Record 4.87%, Freddie Says Mortgage rates for 30-year fixed
U.S. home loans fell for the second consecutive week, pushing
borrowing costs to near record lows.
Fleckenstein Expects to Resume Shorting U.S. Stocks in 2010 as Rally Ends William Fleckenstein, the investor
who closed his 12-year-old short-selling fund in December, said
he expects to resume betting on declines again next year.
Eskom Said to Get South African Backing for 45% Annual Power Rate Increase South Africa’s government will back
an application by Eskom Holdings Ltd., the state power company,
to raise electricity prices by 45 percent annually for the next
three years, a person familiar with the proposal said.
source: Bloomberg
