Sensex Index Gains; ACC Leads Cement Makers Higher as Bharti Airtel Falls India’s benchmark stock index rose.
ACC Ltd. led cement producers higher on the expectation higher
prices of the commodity may help narrow the industry’s
underperformance compared to the broader market.
Sugar May Climb 36% on India Production Shortfall, Bajaj Hindusthan Says Sugar may jump 36 percent to a 29-
year high after a drought damaged crops in India, forcing the
nation to import for a third year, according to Bajaj Hindusthan
Ltd., the country’s top producer.
Wipro to Increase Fixed Price, Goal-Based Orders to Boost Profit Margin Wipro Ltd., India’s third-largest
software exporter, said it aims to get 50 percent of its sales
in three years from orders where it shares risk with clients
seeking to cap their costs to boost its own profitability.
Satyam Fraud Was $606 Million Bigger Than Raju Claimed, Crime Agency Says Satyam Computer Services Ltd.’s
accounting fraud was 40 percent larger than what the Indian
software company’s former chairman previously said, according to
the nation’s Central Bureau of Investigation.
Ambani's $12 Billion LyondellBasell Bid Mimics Valero, Tosco Expansions Reliance Industries Ltd.’s bid for
bankrupt LyondellBasell Industries AF would give India’s biggest
company a low-priced U.S. refinery, mimicking successful
strategies by Valero Energy Corp. and the former Tosco Corp.
Government 10-Year Bonds Advance on Crude Oil Drop, India's Rate Outlook Indian bonds gained for a second day
on speculation the central bank will refrain from raising
interest rates and inflation will slow due to a drop in crude
oil prices.
Indian Lenders Must Find Funding for Roads, Extend Banking, Subbarao Says Indian banks need to find ways to
fund infrastructure projects, extend financial services to more
rural and poor people, manage their risk and improve efficiency,
central bank Governor Duvvuri Subbarao said.
Dubai World Seeks to Delay Repayment of Debt; Default Risk Rises to Record Dubai World, with $59 billion of
liabilities, will seek to delay debt payments, sending
contracts to protect the emirate against default surging by the
most since they began trading in January.
Consumer Spending, New-Home Sales in U.S. Top Forecasts as Economy Revives Consumer spending and sales of new
homes climbed more than forecast while claims for jobless
benefits dropped to the lowest level in a year, putting the
U.S. economy on stronger footing heading into 2010.
Fed Adopts Stricter Rules on Regional Directors' Ties to Financial Firms The Federal Reserve Board changed
its policy on the eligibility of directors for its 12 regional
Fed banks, after questions were raised about the tenure of
former New York Fed Bank board chairman Stephen Friedman.
Stocks, Commodities Gain, Dollar Falls on Optimism Recovery Strengthening Stocks and commodities advanced,
while the dollar approached a 14-year low against the yen, as
reports on home sales, jobless claims and consumers spurred
optimism that the economic recovery is strengthening.
Brazil's Real Is `Most Overvalued' Currency as Cash Pours In, Goldman Says Brazil’s real is the “most
overvalued” currency as a “wall of money” coming into Latin
America’s biggest economy may overwhelm government efforts to
curb its rally, said Goldman Sachs Group Inc.
Goldman Sachs Is Said to Hire Back Kasper Christoffersen After Two Years Goldman Sachs Group Inc., the most
profitable securities firm in Wall Street history, hired back
Kasper Christoffersen almost two years after he left to join a
hedge fund in London.
GM Said to See No New Bidders for Saab as Board Decision Nears on Shutdown General Motors Co. doesn’t expect to
find new bidders for Saab and may shut the bankrupt unit after
Koenigsegg Group AB canceled a planned acquisition, people
familiar with the matter said.
source: Bloomberg
