Reliance Power Starts 1st Unit; Plans to Add Capacity to 3,000 MW by 2012 Reliance Power Ltd., which raised $3
billion in India’s biggest initial share sale last year, started
its first power station as it seeks to build capacity and supply
a fifth of the nation’s electricity. Shares gained.
Jindal Power Plans India's Biggest Utility IPO After Reliance in 2008 Jindal Power Ltd., controlled by
India’s richest woman, plans to raise 72 billion rupees ($1.5
billion) in the nation’s biggest initial public offering by a
power company in two years.
India Stocks Post Longest Winning Streak in Seven Weeks on Growth Outlook India’s stocks rose for a fourth
day, the longest winning streak in seven weeks, after Prime
Minister Manmohan Singh said economic growth may accelerate.
Oil & Natural Gas Plans $857 Million Interest-Free Loan to Overseas Unit Oil & Natural Gas Corp. will lend 40
billion rupees ($857 million) to its overseas unit investing in
a gas project off Myanmar’s coast as India’s biggest explorer
seeks to meet rising fuel demand at home.
India Raises Exports Tax on All Grades of Iron Ore; Sesa Goa Stock Slumps India imposed a 5 percent duty on
exports of iron-ore fines and doubled the tax on overseas sales
of lumps to 10 percent, to increase the supply of the material
to domestic steelmakers.
Rupee Declines as Indian Importers Buy Dollars to Meet Month-End Payment India’s rupee dropped on speculation
importers bought dollars to meet month-end payments.
Ten-Year Bonds Slide After Central Bank Says Food Costs May Fan Inflation India’s bonds fell the most in more
than a week on speculation the central bank will raise interest
rates to keep inflation in check as food costs surge.
Nathaniel Rothschild, Paulson Said to Be Investing in Rusal $2 Billion IPO Companies controlled by Malaysian
billionaire Robert Kuok, and Nathaniel Rothschild may buy shares
in United Co. Rusal’s $2 billion Hong Kong initial public
offering, said three people familiar with the plan.
U.S. Consumer Sentiment Gains a Second Month as Job-Market Pessimism Wanes Confidence among U.S. consumers
rose in December for a second month as pessimism over the
outlook for jobs diminished.
Home Prices in 20 U.S. Cities Rose for Fifth Consecutive Month in October Home prices in 20 U.S. cities rose
in October for a fifth consecutive month, putting the housing
market and economy farther along the path to recovery.
Mining, Energy Stocks Rise on Economic Outlook; Sugar Reaches 20-Year High Mining and energy companies led an
advance in stocks and currencies of commodity producers
strengthened as investors anticipated faster economic growth
next year. Treasury five-year note yields traded at the highest
level since August.
Goldman Sachs Wins Most Fees on U.S. IPOs as Citigroup Drops From Top Five Goldman Sachs Group Inc. won the
biggest share of the $923 million in fees from U.S. initial
public offerings this year, while Citigroup Inc. fell out of the
top five after its revenue plummeted more than 50 percent.
Biggs, Faber Unite in Predicting Dollar Rally as S&P 500 Extends 67% Surge Barton Biggs and Marc Faber, who
recommended buying stocks in March when investors were dumping
them, are again united as they predict gains for U.S. equities
and the dollar.
UBS Said to Search New York Area Office Market for Space as Prices Decline UBS AG, Switzerland’s biggest bank,
is searching for as much as 800,000 square feet of New York-area
office space, making it the biggest tenant shopping the market
as rents fall, two people familiar with the plans said.
GM May Wait Until After Year-End to Decide Future of Saab, Aakerlund Says General Motors Co. is prepared to
wait beyond the end of this week before deciding on the future
of the Saab brand as it reviews remaining bids, according to
Paul Aakerlund, a board member at the Swedish carmaker.
source: Bloomberg
