India Must Tighten Monetary Policy to Curb Prices, Ex-Governor Jalan Says India’s central bank needs to drain
cash from the economy to check speculation in commodities,
former Governor Bimal Jalan said, after food price inflation
climbed to an 11-year high this month.
Sensitive Index Decliness to Six-Week Low, Led by Construction Companies India’s stocks fell to a six-week
low, led by Jaiprakash Associates Ltd. and other construction
stocks after former Governor Bimal Jalan said the nation’s
central bank needs to drain cash from the economy.
Reliance Snaps Eight-Day Losing Streak as Investors Buy `Underperformer' Reliance Industries Ltd. snapped an
eight-day losing streak in Mumbai trading as investors bought
the underperforming shares, undeterred by a report that India’s
regulator has asked the government to act against the explorer.
Oil Gains After Nigeria, Iraq Pipeline Attacks, U.S. Dollar Pares Advance Crude oil rose for a second day
after attacks on energy facilities in Nigeria and Iraq, OPEC’s
third- and seventh-largest oil producers.
Gold Advances After Third Weekly Decline Increases Demand From Investors Gold climbed for a second day as the
metal’s longest losing streak since June and a weaker dollar
boosted investor demand.
India's Uranium Need to Grow 10-Fold by 2020, Nuclear Power's Ghai Says India’s need for uranium will
increase 10-fold by 2020 as Asia’s third-largest energy consumer
boosts nuclear power generation, the country’s monopoly atomic
generator forecast today.
Ten-Year Government Bonds Decline on Rate Outlook, Yields at 14-Month High India’s 10-year bonds fell, pushing
yields to their highest close in 14 months, on speculation the
fastest food price gains since 1998 will prompt the central bank
to raise borrowing costs.
India to Hold 3G Auction on Schedule in January, Give Spectrum by August India’s auction of airwaves for
third-generation mobile-phone services will be held as planned
in January and winners will get spectrum by August 2010,
Telecommunications Minister Andimuthu Raja said today.
Dollar Near 3-Month High on U.S. Economy Optimism, Europe Credit Concern The dollar traded near a three-month
high against the euro as signs that the world’s largest economy
is gaining traction and lingering credit concerns in Europe
buoyed demand for the greenback.
India's Rupee Drops as Dollar Rebound Speculation Stokes Importer Demand India’s rupee fell for a second day
on speculation local importers stepped up dollar purchases amid
expectations the greenback will add to this month’s gains versus
the major currencies.
Treasury Yield Curve Steepens to Record on Outlook for Economic Recovery The difference between 2- and 10-
year Treasury notes widened to a record as investors bet an
accelerating economic recovery will fuel inflation and damp
demand for government debt as the U.S. borrows record amounts.
Stocks Climb, Bonds Fall on Global Economic Recovery; Carbon Permits Drop Stocks rose and bonds dropped around
the world on evidence that the economic recovery is gathering
momentum. Carbon-permit prices fell as leaders agreed not to set
binding emissions targets at the Copenhagen climate summit.
Credit Suisse Names Sim Global Head of M&A in Shake-Up of Advisory Groups Credit Suisse Group AG, Switzerland’s
biggest bank by market value, named Boon Sim global head of
mergers and acquisitions in a shake-up of its teams advising U.S.
and European companies on takeovers.
Dubai World Didn't Present Standstill Offer to Restructure Debt at Meeting Dubai World did not present a
“standstill” offer to banks at a meeting today as the state-
owned holding company provided part of a plan to restructure
about $22 billion of debt, a Dubai World spokesman said.
Last-Minute Shopping May Counter U.S. Snowstorm; Sales Forecast Unchanged Last-minute shopping in the days
leading up to Christmas may make up for lost weekend sales on
the U.S. East Coast after record snowfalls shut stores early and
kept shoppers at home, the National Retail Federation said.
Dollar Strength Signaled in Stock Correlation First Time Since Lehman Died The dollar is rallying in tandem
with stocks and commodities for the first time since before
Lehman Brothers Holdings Inc.’s bankruptcy last year sparked the
financial crisis, signaling the worst may be over for the
greenback.
E*Trade Names Druskin Interim CEO After Failing to Find Layton Successor E*Trade Financial Corp. named Robert
Druskin as chairman and interim chief executive officer after
failing to find a permanent replacement on time for Donald
Layton, who helped save the online brokerage from collapse.
source: Bloomberg
