India's Industrial Production Surges, Making Policy Tightening More Likely India’s industrial production rose
the most in 22 months, suggesting the central bank may have
scope to make an early exit from emergency stimulus measures.
Anil Ambani Seeks Reconciliation With Brother Mukesh in Gas Field Lawsuit Indian billionaire Anil Ambani
sought to resolve a dispute with his older brother Mukesh Ambani
over a natural gas contract from the nation’s biggest field a
week before the Supreme Court starts hearing their lawsuit.
Sensex Advances After Singh's Comments on Growth; Software Developers Lead India’s benchmark stock index rose
the most in more than six weeks after the nation’s industrial
production staged its steepest advance in 22 months and Prime
Minister Manmohan Singh said economic growth will accelerate.
Oil Explorers Bid for Half of India Blocks in Auction; Reliance Shuns Sale Energy explorers bid for only half
the oil and gas blocks in an Indian auction as Reliance
Industries Ltd., operator of the nation’s largest field, shunned
the sale, setting back efforts to cut dependence on imports.
Reliance Communications Says Hasn't Received Report of Special Audit Reliance Communications Ltd. said
it’s in full compliance of license terms and conditions after a
television station reported that India’s second-largest mobile-
phone operator may have understated revenue for two years.
Soybeans Production to be 14 Percent Less Than Forecast, Trade Group Says India, Asia’s third-biggest soybean
meal exporter, likely gathered 14 percent fewer oil seeds than
forecast previously, a processors’ group said.
India Central Bank Has No Rupee Target; Seeks to Curb Swings, Thorat Says India’s central bank sets no target
level for the rupee and only seeks to limit volatility in the
“market-driven” exchange rate, Deputy Governor Usha Thorat
said in Singapore today.
Stocks in U.S., Europe Gain on Philips Profit; Yen Drops, Crude Oil Rises U.S. and European stocks rose,
sending the MSCI World Index to near a one-year high, on
speculation improving corporate earnings will extend a seven-
month rally in equities. Oil and metal prices advanced.
Dollar Reaches Breaking Point at Banks Shifting Record Reserves Into Euro Central banks flush with record
reserves are increasingly snubbing dollars in favor of euros and
yen, further pressuring the greenback after its biggest two-
quarter rout in almost two decades.
Mating in London Today Means 4,000 People Meeting Over the Price for Metal “Copper! Copper!” shouts a trader
at 4:59 p.m. in the London Metal Exchange’s dealing ring, where
frowning men in blue suits and pink ties jab fingers and scream
at each other in the last 60 seconds of trading.
Philips Posts Unexpected Profit as Consumer Unit Earnings More Than Double Royal Philips Electronics NV,
Europe’s biggest consumer-electronics maker, unexpectedly posted
a profit in the third quarter as operating earnings at the
consumer unit more than doubled.
Barclays Said to Consider Sales of CLO Holdings to Cut Risk of Writedowns Barclays Plc, the U.K.’s second-
largest bank, is considering further sales of credit assets,
including collateralized loan obligations, to reduce the risk of
writedowns, according to a person familiar with the situation.
Writedowns on Mortgage-Collection Servicing Make Even JPMorgan Vulnerable The four biggest U.S. banks by
assets may have to take writedowns on $55 billion of mortgage-
collection contracts after marking them up by $11 billion in
the second quarter, casting a shadow over earnings.
Lakshmi Mittal's Indiabulls Power Receives $1.4 Billion of Offers in IPO Indiabulls Power Ltd., a utility
partly owned by billionaire Lakshmi Mittal, got more than 66.4
billion rupees ($1.4 billion) of bids, or 6 times the shares on
offer in its initial public offering.
source: Bloomberg
