India's Economic Growth May Remain Weak on Inflation, Central Bank Says India’s economic growth may remain
weak this year as inflation accelerates, the central bank said,
pointing out the “challenge” it faces to set interest rates.
Tata Motors Profit Doubles, Beating Estimates, on Sales of Trucks, Nano Tata Motors Ltd., India’s largest
truckmaker, reported second-quarter net income more than doubled
as economic growth boosted truck sales and the introduction of
the Nano car revived demand.
Bonds Gain on Speculation Indian Central Bank to Keep Rates at Record Lows India’s 10-year bonds gained for the
first time in three days on speculation the central bank will
keep its benchmark interest rates at record lows following a
quarterly policy review tomorrow.
Ranbaxy Posts Profit on Smaller Currency Loss, Demand in Emerging Markets Ranbaxy Laboratories Ltd., India’s
biggest drugmaker, posted a third-quarter profit that beat
analysts’ estimates on lower costs and a smaller foreign-
currency loss.
Zee News Climbs Most Since Listing in Mumbai on Higher Quarterly Earnings Zee News Ltd., the best performer on
the BSE500 Index today, had its biggest gain since it started
trading in 2007 after saying second-quarter net income rose 15
percent.
Rupee Drops Before Indian Interest-Rate Decision, Importers' Bill Payments India’s rupee fell before the
central bank’s decision tomorrow on interest rates while
importers bought dollars to settle month-end bill payments.
Stocks Fall, State Bank Leads Drop Ahead of India's Interest Rate Decision India’s benchmark stock index fell
as State Bank of India Ltd. led declines among lenders before a
monetary policy meeting tomorrow.
Government Asks Indian States to Bear Any Increase in Minimum Cane Price India’s federal government, revising
the minimum sugar cane price mills have to pay farmers, asked
the state administrations to bear the difference if they raised
the tariff level.
Touradji Beaten by Commodity Indexes Shows Hedge Funds Losing Edge in 2009 Hedge fund managers are trailing
benchmark commodity indexes by the widest margin in four years
after copper doubled and oil surged 58 percent.
ING Will Divest Insurance Units, Sell $11.3 Billion of Stock to Repay Aid ING Groep NV plans to raise 7.5
billion euros ($11.3 billion) in a rights offering and sell its
insurance units as the biggest Dutch financial services company
seeks European Union approval for a taxpayer-funded bailout.
Treasuries Decline as U.S. Prepares Record $123 Billion of Note Auctions Treasuries fell, with 10-year note
yields touching their highest level in two months, as the U.S.
prepared to sell a record $123 billion of notes to fund its
stimulus program and record deficits.
Dubai Bond Premium Surges Sevenfold in First Sale This Year, Investors Say Investors in Dubai’s planned bond
sale are demanding a premium at least seven times higher than
before the Persian Gulf business hub sought help from the
country’s central bank.
Central Banks Hitting Asset Bubbles Reveal No Faith in Greenspan Economics Central bankers from Washington to
Oslo are taking greater account of accelerating asset prices to
avoid the policy mistakes that inflated two speculative bubbles
in a decade and led to the worst financial crisis since the
Great Depression.
U.S. Stocks Are 40% Above Fair Value, Headed for Declines, Smithers Says The U.S. Standard & Poor’s 500 Index
is about 40 percent overvalued and headed for a drop as central
banks pull back on securities purchases that pushed up asset
prices, according to economist Andrew Smithers.
Moffat's Galleon Arrest Stuns Ex-IBM Colleagues Who Recall Sumo Suit, Kilt Bob Moffat, the International
Business Machines Corp. executive arrested in the Galleon
insider trading case, used to start meetings with trivia about
“This Day in History.” He’d ask if anyone knew what day it
was, and then rattle off a few notable events.
Buffett Laments Own `Abysmal Failure' in Controlling Bank Pay at Salomon Billionaire Warren Buffett, who earns
$100,000 a year in salary for running Berkshire Hathaway Inc.,
said he should have done more to restrain bankers’ pay when he
was chairman of Salomon Inc.
source: Bloomberg
