Sensitive Index Declines, Led by State Bank of India on Lending Rate Plan India’s benchmark stock index fell,
led by State Bank of India Ltd., on concern a proposed new
interest rate system will intensify competition among lenders.
India Should Keep `Accommodative' Rate Policy, Singh Aide Rangarajan Says India should maintain an
“accommodative” monetary policy until the economy recovers and
inflation flares up, a top aide to the prime minister said,
highlighting political pressures on the central bank to keep
interest rates unchanged next week.
State Bank Sells First Indian Benchmark Dollar Bonds in Almost Three Years State Bank of India Ltd. raised $750
million from the country’s first so-called benchmark dollar bond
sale in almost three years after receiving investor bids for
more than $5 billion of notes.
Reliance Says Reliance Natural Can't Buy Gas Without Government's Approval Reliance Industries Ltd. said
Reliance Natural Resources Ltd. isn’t entitled to buy natural
gas from the nation’s biggest field as agreed when the Ambani
business was split unless the government approves the sale.
Palm Oil Imports May Rise From Record as Mills Slowing Crushing Oilseeds Palm oil purchases by India, the
biggest buyer after China, may increase as duty-free imports
make processing of local oil seeds unprofitable.
Reliance Industries Buying Costlier LNG While Waiting for Fuel Allotment Reliance Industries Ltd., the
operator of India’s biggest gas field, said it’s paying more to
buy liquefied natural gas from the spot market while waiting for
fuel allotments from the government.
Sesa Goa to More Than Triple Iron Ore Output on Rising Demand From China Sesa Goa Ltd., India’s biggest iron-
ore exporter, will more than triple production because of a
rebound in prices and demand from China and diversify into
making steel, Managing Director P. Mukherjee said.
India's Rupee Falls Most in Two Months on Concern Stock Inflows to Cool India’s rupee slid the most in two
months on concern inflows of capital will cool after stock gains
drove valuations of local companies to a 20-month high.
China's `Growth on Steroids' Risks Next Slowdown as Lending Binge Subsides China’s stimulus-induced lending
binge probably propelled growth in the third quarter to its
fastest pace in a year. Now, policy makers have to figure out
how to wean the economy off state support.
Galleon Will Liquidate Hedge Funds, Is Said to Get Approaches About Assets Raj Rajaratnam, the billionaire
founder of Galleon Group charged last week by federal
prosecutors with insider trading, told investors he will
liquidate his hedge funds.
Euro Rises Above $1.50 for First Time Since August '08 on Recovery Outlook The euro climbed above $1.50 for the
first time in 14 months on optimism the global economic recovery
is gathering momentum, increasing demand for riskier assets.
Morgan Stanley Profit Tops Estimates as Risk-Taking Boosts Trading Revenue Morgan Stanley reported its first
profit in a year, surpassing analysts’ estimates as underwriting
fees climbed and an increase in risk-taking boosted trading
revenue to the highest in 12 months.
Wells Fargo Profit Rises as U.S. Home Lender Limits Damage From Defaults Wells Fargo & Co., the nation’s
largest home lender, posted a record third-quarter profit
by limiting loan defaults and wringing savings out of Wachovia
Corp.
Bernanke Says Speeding Up Credit-Card Rules to Dec. 1 May Hurt U.S. Banks Speeding up the effective date of
new credit-card rules to Dec. 1 from next year may result in
“unintended consequences” for banks, said Federal Reserve
Chairman Ben Bernanke.
American, United May Escape EU Price-Fixing Fines in Probe of Cargo Rates AMR Corp.’s American Airlines and
UAL Corp.’s United Airlines are among about a dozen carriers
that may escape price-fixing fines as the European Union scales
back a probe into air cargo rates, two people familiar with the
case said.
King Opens Rift With Brown, Calls for Banks to Be Split to Limit Bailouts Bank of England Governor Mervyn King
opened a rift with Prime Minister Gordon Brown’s government by
signaling the biggest banks could be broken up to prevent
taxpayers having to shoulder the cost of future bailouts.
source: Bloomberg
