India Seeks to Ban Over-the-Counter Oil Derivatives; Hedging Costs to Rise The Reserve Bank of India may ban
over-the-counter oil swaps and options trading in an attempt to
prevent losses that could bankrupt companies.
India Has No Plan to Curb Inflows to Prevent Asset Bubble, Subbarao Says India, which yesterday capped
interest rates at which local companies can borrow abroad, has
no plans yet to curb foreign capital, central bank Governor
Duvvuri Subbarao said.
Barclays Halts Sale of India Exchange-Traded Notes After Suspension Order Barclays Bank Plc suspended sales of
its exchange-traded notes linked to Indian stocks after the
country’s capital markets regulator ordered the bank’s local
unit to stop selling or trading offshore derivatives.
Government Bonds Decline a Second Day as Inflation May Spur Rate Increase India’s bonds fell for a second day
after the central bank signaled it may need to raise interest
rates should increases in food prices persist.
Indian Food Prices Rise at Fastest Pace Since 1998, Raising Inflation Risk India’s wholesale food prices rose
at the fastest pace in 11 years, underscoring the central bank’s
concern that it may need to use monetary policy to stabilize
inflation expectations.
VW's Polo Push in India Means Fighting for Customers With Partner Suzuki Volkswagen AG, the German carmaker
that yesterday unveiled a deal with Suzuki Motor Corp. to help
crack the Indian market, may end up fighting for sales with its
new partner.
Satyam Computer Shares Advance After Settling Dispute With U.K.'s Upaid Shares of Satyam Computer Services
Ltd., the software company at the center of India’s biggest
accounting probe, rose in Mumbai trading after it agreed to
settle a dispute with U.K.’s Upaid Systems Ltd.
Sensex Rises in India on Borrowing Rules Led by Bharti Airtel, Jaiprakash India’s benchmark stock index rose,
led by Bharti Airtel Ltd. and Jaiprakash Associates Ltd., after
the central bank extended rules allowing telecommunication
companies and builders to raise funds abroad.
ArcelorMittal, Posco Factory Delays May Thwart India Steel Output Target India’s steel production may fall
short of the government target as mills planned by companies
including ArcelorMittal, Posco and Tata Steel Ltd. face delays,
Steel Minister Virbhadra Singh said.
Pimco Buying Abu Dhabi, Qatar Bonds After Dubai Triggers Slump, Gomez Says Pacific Investment Management Co.,
which runs the world’s biggest bond fund, is buying the debt of
Abu Dhabi, Qatar and Ras Laffan Liquefied Natural Gas Co., said
Michael Gomez, co-head of emerging markets at the fund manager.
Sarkozy Said to Consider Tax on Bank Bonuses, Following U.K. One-Time Levy French President Nicolas Sarkozy is
considering a tax on 2009 banker bonuses exceeding 27,000 euros
($39,800), following the U.K. government’s introduction of a
similar levy, said two French government officials.
Stocks in U.S. Advance as Jobless, Trade Data Point to Economic Recovery Stocks rose in the U.S. and Europe
and bonds and the yen dropped on signs central banks are
confident enough in the strength of the economic recovery to
remove stimulus measures. The Australian and New Zealand dollars
strengthened.
Geithner Says Treasury Faces Long-Term Losses From Insurer AIG, Automakers Treasury Secretary Timothy Geithner
said today the government is unlikely to recoup its investments
in insurer American International Group Inc. or the automakers
General Motors Co. and Chrysler Group LLC.
Stiglitz Urges Congress to Use `Powell Doctrine' Against 10% Jobless Rate Nobel Prize-winning economist Joseph
Stiglitz urged U.S. lawmakers to use “overwhelming force” to
cut a 10 percent unemployment rate that’s forecast to rise.
Argentina Authorizes Swap of Defaulted Bonds in Plan to Tap Credit Markets Argentine President Cristina
Fernandez de Kirchner authorized the Economy Ministry to go
ahead with its planned swap of $20 billion of defaulted debt.
VIX May Double in 2010 as Stock Gain Slows, Gluskin Sheff's Rosenberg Says The benchmark index for U.S. stock
options may almost double in 2010 on investors’ concern that the
Standard & Poor’s 500 Index’s rally outpaced prospects for
economic and earnings growth, according to David Rosenberg.
U.K. Banks Must Set Aside $47 Billion Against Trades Under FSA Proposals U.K. banks must find as much as 29
billion pounds ($47.3 billion) of additional capital by 2011 to
put against their trading books under proposals published by
Britain’s financial regulator.
source: Bloomberg
