Prices in India Climb to 10-Month High, Highlighting Central Bank Dilemma India’s inflation accelerated to a
ten-month high as food costs soared, making it more likely the
central bank will tighten monetary policy soon to contain prices.
Tanti Says Suzlon Will Refinance $2.8 Billion of Debt by End of January Suzlon Energy Ltd, India’s biggest
maker of wind-turbine generators, plans to complete $2.8 billion
of refinancing by the end of January, Chairman Tulsi Tanti said.
Bank of Baroda `Not Aware' of Talks for Dubai World Agreement, Mallya Says Bank of Baroda, an Indian company
that loaned $200 million to Dubai World, is “not aware” of any
talks for an agreement between the state-owned Middle Eastern
firm and its lenders, Chairman M.D. Mallya said today.
Coffee Crop Forecast Pared by India as Rains Damage Crop, Hamper Harvests India, Asia’s third-biggest coffee
producer, will miss a forecast to harvest a record crop after
excess rain in the biggest growing region damaged plants and
hampered harvests, the Coffee Board said today.
Dewan Housing Finance to Offer Loans at 8% for Some Homes for Two Years Dewan Housing Finance Corp. plans to
offer loans at 8 percent for homes costing up to 500,000 rupees
for the first two years of the mortgage, the company said in a
statement.
Rupee Declines to Five-Week Low on Concern Inflation Will Erode Earnings India’s rupee closed at a five-week
low on concern accelerating inflation will erode investment
earnings and discourage overseas funds from buying local assets.
Reliance Communications `Vehemently' Denies Report on Undersea Cable Sale Reliance Communications Ltd.
spokesman Gaurav Wahi said the company “vehemently” denies a
report that the Indian mobile-phone operator plans to sell its
undersea cable network.
Binani Leads Gains in India Cement Company Shares on Price-Rise Prospects Binani Cement Ltd., an Indian
manufacturer of the building material, rose to its highest level
in more than 1 1/2 years in Mumbai trading on expectations that
cement prices will increase in the first quarter of next year.
Exxon to Buy XTO Energy for $31 Billion in Bet U.S. Gas Demand Will Climb Exxon Mobil Corp., the biggest U.S.
oil company, agreed to buy XTO Energy Inc. for $31 billion in a
bet that U.S. emissions restrictions will spur increased demand
for natural gas.
Citigroup to Repay $20 Billion of TARP Cash, Last Big Bank to Exit Program Citigroup Inc., recipient of the
biggest U.S. bank bailout, struck a deal with regulators to
repay $20 billion to taxpayers and escape government-imposed pay
restrictions.
Global Stocks Rise as Default Swaps, Dollar Drop Following Dubai Bailout Stocks rose as Abu Dhabi bailed out
Dubai’s Nakheel PJSC and Exxon Mobil Corp. agreed to buy XTO
Energy Inc. for $31 billion. The cost to protect U.S. corporate
bonds from default fell to a 12-week low, while the dollar
slipped and oil and Treasuries were little changed.
Mobius Says Dubai Transparency Pledge a `Giant Step,' Worst of Crisis Over Dubai’s pledge to adopt global
standards on transparency and creditor protection is a “giant
step in the right direction” and the worst of the emirate’s
debt crisis is over, investor Mark Mobius said.
Apollo Settles University of Phoenix Whistleblower Suit Over Recruitment Apollo Group Inc. agreed to settle a
whistleblower lawsuit brought by two former employees over the
way it paid recruiters for its University of Phoenix subsidiary.
Morgan Stanley Hires Fleming as New Chief Gorman Revamps Management Team Morgan Stanley’s James Gorman, who
takes over as chief executive officer next month, pushed ahead
with his management overhaul by hiring former Merrill Lynch &
Co. colleague Greg Fleming to lead investment management and
research.
BAE Wins Protest of $3 Billion U.S. Army Truck Award; Oshkosh Shares Drop BAE Systems Plc’s and Navistar
International Corp.’s protests of the Army’s armored-vehicle
production contract with Oshkosh Corp., valued at as much as $3
billion, were upheld today by the U.S. Government Accountability
Office.
source: Bloomberg
