NMDC Said to Plan $3 Billion Share Sale as India's Government Seeks Funds India’s government plans to sell as
much as 140 billion rupees ($3 billion) of shares in NMDC Ltd.,
the nation’s biggest iron-ore producer, as part of a sell-off of
state assets, said two people familiar with the proceedings.
Reliance Industries, Hardy Oil to Review Record India Gas Finds by March Hardy Oil & Gas Plc and partner
Reliance Industries Ltd. may drill seven wells at two gas fields
that could mark it as the largest in India with reserves
estimated at as much as 20 trillion cubic feet.
Volkswagen Will Pay $2.5 Billion for 19.9% Stake in Japan's Suzuki Motor Volkswagen AG, Europe’s largest
carmaker, agreed to pay 222.5 billion yen ($2.5 billion) for a
19.9 percent stake in Suzuki Motor Corp. and jointly develop
vehicles for emerging markets to challenge global leader Toyota
Motor Corp.
Steel Authority Stake Sale Plan May Get Approval by Month End, Singh Says Steel Authority of India Ltd.’s plan
to sell stake may get cabinet approval by the end of December,
steel minister Virbhadra Singh said in an interview in New Delhi
today.
Sensex Index Declines; Reliance Infrastructure, Lenders Lead the Retreat Indian stocks fell as builders
declined after the government signaled it will shift its focus
to tackling inflation from boosting the economy through spending
on roads, ports and other projects.
Satyam Computer to Pay $70 Million to Settle Dispute With Upaid Systems Satyam Computer Services Ltd., the
software company at the center of India’s biggest accounting
probe, agreed to pay $70 million to settle a dispute with U.K.’s
Upaid Systems Ltd.
Nagarjuna Fertilizers Says to Start Up Cuddalore Oil Refinery in End 2011 Nagarjuna Fertilizers and Chemicals
Ltd.’s oil unit has begun construction on a 6 million ton-a-year
refinery in the south Indian city of Cuddalore that will start
up by the end of 2011.
Indo Borax Home Unit Expects $1.7 Million Profit in Two Years, Jain Says Indo Borax & Chemicals Ltd., a
supplier of raw material to drugmakers, expects its housing unit
to get pretax income of 80 million rupees ($1.7 million) within
two years from a Mumbai project, Vice Chairman Sajal Jain said.
India Has `Enough' Wheat, Rice Stockpiles to Meet Demand, Minister Says India’s stockpiles of rice and wheat
are “enough” to meet demand, Junior Farm Minister K.V. Thomas
told reporters in New Delhi today.
India's Bonds Advance as Central Bank Damps Interest-Rate Hike Speculation India’s bonds rose for a third day,
the longest winning streak in almost two weeks, after the
central bank signaled it isn’t yet ready to raise interest rates
to curb price increases.
Geithner Said to Be Seeking $700 Billion TARP Extension Until Next October Treasury Secretary Timothy Geithner
plans to tell Congress that the Obama administration will extend
the $700 billion financial-rescue program until next October,
according to people familiar with the matter.
U.S. Stock-Index Futures Advance; Exxon Mobil, Chevron, Citigroup Climb U.S. stock-index futures advanced,
indicating the Standard & Poor’s 500 Index may snap a two-day
drop, as a rebound in crude prices lifted oil companies and
banks increased.
Dubai Corporate Bond Rout Shows Mounting Concern That Defaults Will Spread The tumble in bonds of Dubai’s state-
controlled companies to record lows signals growing concern more
borrowers will fall behind on debt payments as Dubai World seeks
to restructure $26 billion of obligations.
Greek Finance Minister Papaconstantinou Says Absolutely No Risk of Default Greek Finance Minister George
Papaconstantinou said there is “absolutely” no risk the
country will default on its debt or seek a European Union
bailout after a credit rating cut caused its bonds to plunge.
Comcast Chief Roberts Said to Meet With U.S. Regulators Over Bid for NBC Comcast Corp. Chief Executive Officer
Brian Roberts, who will seek U.S. approval for his company’s bid
to control General Electric Co.’s NBC Universal unit, met with
regulators yesterday, people familiar with the meetings said.
Clive Capital Closes World's Biggest Commodity Hedge Fund to New Investors Clive Capital LLP closed its $3.98
billion commodities hedge fund, the world’s largest, to new
money after posting its biggest monthly gain since May.
source: Bloomberg
