India Plans to Spend an Extra $6.6 Billion to Cap Food, Fertilizer Costs India’s finance ministry sought
parliament’s approval to spend an extra 309.4 billion rupees
($6.6 billion) to cap prices of food and fertilizers.
Sensex Index Rises to Two-Month High; Tata Motors Advances With Car Sales India’s benchmark stock index rose
for the first day in three after November passenger car sales
rose the most in five years.
Car Sales in India Rise Most in Five Years on Cheaper Loan Rates, Economy India’s passenger car sales rose the
most in more than five years in November as cheaper loan rates
and economic expansion lifted demand for Maruti Suzuki India Ltd.
hatchbacks and Tata Motors Ltd.’s Nano.
Ten-Year Bonds Advance a 2nd Day as Central Bank Signals No Policy Shift India’s benchmark bonds rose for a
second day, the longest winning streak in more than a week,
after central bank Governor Duvvuri Subbarao signaled policy
makers aren’t about to raise interest rates.
Rice Stockpiles to Help India Avoid `Large-Scale' Purchases, USDA Reports India, the world’s second-biggest
rice producer, will have sufficient stockpiles to avert “large-
scale” imports, the U.S. Foreign Agricultural Service said.
Volkswagen Will Hire 1,300 Workers at India Plant, Add Polo Car Production Volkswagen AG plans to double the
number of workers at its new factory in India to 2,500 by the
end of next year as Europe’s biggest carmaker aims to take on
Maruti Suzuki India Ltd. and Tata Motors Ltd.
Rupee Declines to Two-Week Low as Importers Buy Dollars, Higher Oil Costs India’s rupee fell, closing at its
lowest level in more than two weeks, on speculation some
importers bought dollars to guard against a loss in the nation’s
currency that would make goods more expensive in local terms.
Ranbaxy Plans to Sell Stake in Japanese Joint Venture to Nippon Chemiphar Ranbaxy Laboratories Ltd. will sell
its share in a Japanese joint venture to partner Nippon
Chemiphar Co., 18 months after the Indian company became a unit
of Japan’s third-largest drugmaker.
Coal India Unit to Increase Production on Higher Demand From Steelmakers Bharat Coking Coal Ltd., a unit of
India’s biggest coal producer, said it aims to increase
production by almost 8 percent in the next financial year to
meet demand for the steelmaking raw material.
J Kumar Infraprojects Plans to Raise 1.01 Billion Rupees, Document Shows J. Kumar Infraprojects Ltd. plans to
raise as much as 1.01 billion rupees selling 5.6 million shares
to large investors, according to a share-sale document.
Stocks, Gold Fall as Rating Companies Highlight Deficit Risk; Yen Advances Stocks, gold and oil fell while
Treasuries and the dollar rallied after Dubai World’s Nakheel
PJSC lost $3.65 billion, Fitch Ratings downgraded Greece’s
credit and German industrial production unexpectedly dropped.
Morgan Stanley Ousts Petrick as Trading Head, Names Porat as Finance Chief Morgan Stanley reassigned two senior
executives to run the institutional securities unit, the largest
division, and ousted sales and trading chief Mitch Petrick after
his division’s revenue fell short of rivals.
Barclays's Diamond Criticizes Proposed Bonus Tax, Sees Regulator Missteps Barclays Plc President Robert Diamond
said plans to impose a windfall tax on bankers’ bonuses are
unwarranted, and that the U.K. risks regulatory missteps that
would put London at a competitive disadvantage.
U.S. CEOs More Optimistic About Economy, Business Roundtable Index Shows Optimism among chief executive
officers about the U.S. economy rose to a one-year high as more
said they expect stronger sales and plan to boost spending while
limiting hiring.
Mortgage-Modification Plan Will Fail as Equity Issue Ignored, Amherst Says The U.S. loan modification program is
“destined to fail” because it doesn’t confront the real
problem of negative home equity that is driving foreclosures,
Amherst Securities Group LP’s Laurie Goodman told Congress.
Frank Supports Adding Mortgage `Cram-Down' to Financial Regulations Bill The mortgage “cram-down” bill that
stalled in Congress earlier this year will be attached to
broader legislation and voted on this week, House Financial
Services Committee Chairman Barney Frank said.
McDonald's November Sales Trail Analysts' Estimates as Asia Results Fall McDonald’s Corp. fell the most in
more than four months after global November sales showed the
smallest monthly gain in at least five years, missing analysts’
estimates.
source: Bloomberg
