Mukherjee Forecasts 8% GDP Growth This Fiscal Year, May Withdraw Stimulus India’s economy may grow as much as
8 percent in the current financial year, Finance Minister Pranab
Mukherjee said, adding he will consider removing some fiscal
stimulus steps in the next two months.
National Aluminium to Triple Capacity in 6 Years on India, Overseas Demand National Aluminium Co., India’s
second-biggest producer, plans to almost triple production
capacity in the next six years as demand rises in Asia, Europe
and North America.
India's Stocks Rise Most in Seven Weeks as Government Raises GDP Forecast India’s benchmark stock index rose
the most in seven weeks after Finance Minister Pranab Mukherjee
said economic growth may accelerate at a faster pace.
NTPC Jumps on Report Government May Allow Electricity Sale at Market Rates NTPC Ltd., India’s biggest power
producer, rose the most in six months in Mumbai trading on a
report that the state may allow the sale of some electricity at
market rates.
India May Raise Interest Rates by End-January, Morgan Stanley's Ahya Says India’s central bank will probably
raise interest rates at the end of January and won’t take any
immediate steps to tame food-price inflation that touched an 11-
year high this month, Morgan Stanley economist Chetan Ahya said.
GVK Power Evaluating Option to Buy Siemens' 40% Stake in Bangalore Airport GVK Power & Infrastructure Ltd., an
Indian builder of airports and power plants, is evaluating an
option to purchase the 40 percent stake owned by Siemens AG in
Bangalore International Airport Ltd. GVK’s shares rose.
India's Cash Iron-Ore Export Price for China May Gain 5% as Demand Rises India’s iron-ore prices for cash
sales to China may gain about 5 percent next month as demand
rises in the world’s biggest buyer of the steelmaking material.
Rupee Weakens on Concern Indian Importers to Accelerate Dollar Purchases India’s rupee weakened for a second
day on speculation local importers will step up dollar purchases
to settle month-end bills after the greenback touched a 15-week
high against a basket of major currencies.
Ten-Year Bonds Advance a Third Day After Official Quashes Rate Speculation India’s benchmark 10-year bonds rose
for the third day after a government official quashed
speculation the central bank will raise interest rates before a
January policy review.
Sales of New U.S. Homes Unexpectedly Fell in November to Seven-Month Low Purchases of new homes in the U.S.
unexpectedly fell last month, indicating a recovery from the
worst housing slump since the Great Depression will be slow to
develop.
Stocks Erase Gain, Dollar Drops as Home Sales Data Raise Recovery Concern U.S. stocks erased their gain, the
dollar weakened and Treasuries rallied after sales of new
American homes unexpectedly fell last month, spurring concern
about the durability of the economic recovery. Oil advanced
following a bigger-than-forecast decrease in inventories.
Morgan Stanley Names 212 Managing Directors, Its Biggest Class Since 2007 Morgan Stanley appointed 212 new
managing directors, the most to achieve the company’s highest
rank for executives since 2007.
Fortress's Intrawest Said to Be in Talks on $1.4 Billion LBO Loan Payment Intrawest ULC, a Vancouver-based
ski-resort operator owned by private-equity firm Fortress
Investment Group LLC, is in talks with lenders about a debt
payment due today on a $1.4 billion loan, according to two
people with direct knowledge of the situation.
John Paulson-Backed OneWest Turns Remains of IndyMac Into Rescuer of Banks The former IndyMac Bancorp, one of
the biggest casualties of the U.S. mortgage meltdown, has
recovered so much under new owners and a new name that
regulators used it to absorb another failed California lender.
Ford Will Sell Volvo Cars to China's Geely; Sale to Be Completed by June Ford Motor Co. agreed with China’s
Zhejiang Geely Holding Group Co. on most terms for a sale of the
U.S. automaker’s Volvo Car Corp. unit in the second quarter.
Batista's OGX Jumps After Making Oil Discovery Off Brazil's Atlantic Coast OGX Petroleo & Gas Participacoes SA
rose to the highest in more than a week after it said an
offshore Brazilian well could hold up to 2 billion barrels of
recoverable oil in what may be the company’s biggest discovery.
source: Bloomberg
