Subbarao Signals Exit From Easy Policy With Order to Buy Government Debt India’s central bank took the first
step toward withdrawing its record monetary stimulus as
inflation pressures build, ordering lenders to keep more cash in
government bonds.
Tata Steel's Profit Falls 50% as Lower Prices Negate Demand From Carmakers Tata Steel Ltd., India’s biggest
producer, posted a 50 percent drop in second-quarter profit that
was worse than analysts’ estimates after lower prices outweighed
increased demand from automakers and builders. The shares fell.
India Allocates Reliance Gas to Fuel-Starved Power Plants, Oil Refineries India selected fuel-starved power
producers and oil refineries as customers for additional natural
gas to be produced from a field operated by Reliance Industries
Ltd., which is fighting a lawsuit over sales from the area.
Wipro Profit Rises 22%, Beating Estimates, on Software Orders; Stock Gains Wipro Ltd., India’s third-
largest software-services exporter, reported second-quarter
profit that beat analysts’ estimates as the global economic
recovery spurred clients to increase orders.
Sensitive Index Drops Most in Two Months as India Signals Tighter Policy Indian stocks fell the most in two
months, led by lenders as the Reserve Bank of India ordered them
to keep more cash in government bonds, signaling tighter
monetary policy.
Cotton Exports From India to Beat Forecast as Farmers Plant Record Area Cotton exports from India, the
second-biggest grower, may be more than forecast this year after
high domestic prices encouraged farmers to plant record acres,
the Cotton Association of India said.
Government Bonds Gain Most in a Month as India Raises Banks' Bond Holdings Indian bonds rose by the most in
more than a month after the central bank ordered local lenders
to boost holdings of state debt following a policy meeting
today.
Citigroup Appoints Richard Macfarlane as India Head of Execution Services Citigroup Inc. named Richard
Macfarlane as head of execution services for India to expand its
equity sales business in the country.
Sesa Goa Plunges on Report India's Government Is Investigating Accounts Sesa Goa Ltd., India’s biggest iron-
ore exporter, plunged the most in 21 months following a report
that India’s Serious Fraud Investigation Office began an enquiry
into its accounts and share price movements.
India Allots Additional Gas From Reliance Field to Power Units, Refineries India selected fuel-starved power
producers and oil refineries as customers for additional natural
gas to be produced from a field operated by Reliance Industries
Ltd., which is fighting a lawsuit over sales from the area.
Consumer Confidence in U.S. Unexpectedly Fell in October on Job Concerns Confidence among U.S. consumers
unexpectedly fell in October for a second month as Americans
fretted about a lack of jobs.
Home Prices in 20 U.S. Cities Rise for Third Straight Month, Survey Shows Home prices in 20 U.S. cities rose
in August for a third consecutive month, bolstering the case
that an economic recovery is at hand.
Stocks in U.S. Fluctuate as Confidence Decline Offsets Home-Price Report U.S. stocks fluctuated after an
unexpected slump in consumer confidence wiped out most of an
early rally spurred by an increase in home prices.
Daimler Sees Profitable Fourth Quarter After Closing Plants, Cutting Hours Daimler AG, the maker of Mercedes-
Benz cars and trucks, predicted operating earnings for the last
three months of 2009 after spending cuts and growth in sales of
the E-Class sedan led to its first quarterly profit in a year.
United Technologies Said to Lead Bidding for GE Surveillance-Systems Unit United Technologies Corp. has
emerged as the frontrunner in the bidding for General Electric
Co.’s fire alarm and surveillance systems unit, said a person
familiar with the matter.
Dubai May Pay Premium of 375 Basis Points in Five-Year Islamic Bond Sale Dubai’s medium-term debt may be
priced to yield 375 basis points above benchmarks as the
sheikhdom seeks to attract investors in its first international
bond sale in more than a year, according to a banker involved in
the deal.
Roubini Sees `Huge' Asset Bubbles Growing in `Mother of All Carry Trades' Investors worldwide are borrowing
dollars to buy assets including equities and commodities,
fueling “huge” bubbles that may spark another financial
crisis, said New York University professor Nouriel Roubini.
source: Bloomberg
