Reliance Industries Sells $764 Million of Shares to Fund Bid for Lyondell Reliance Industries Ltd., India’s
biggest company by market value, sold stock for the second time
this month to help fund its bid for bankrupt Netherlands-based
LyondellBasell Industries AF, its biggest acquisition attempt.
Sensex Index Falls as Reliance Industries Sells Stock to Fund Lyondell Bid India’s benchmark stock index fell
for the third day. Reliance Industries Ltd., operator of the
nation’s largest refinery, led the drop after selling shares.
ArcelorMittal Seeks Approval to Search for Minerals in India's Jharkhand ArcelorMittal, the world’s largest
steelmaker, sought approval to search for manganese and iron ore
in the east Indian state of Jharkhand, according to the
country’s Ministry of Mines.
Stocks `Less Interesting' After India's Rally in 2009, Credit Suisse Says Indian stocks are becoming “less
interesting” as their valuation gap relative to the rest of
Asia shrinks, Credit Suisse Group AG said.
NMDC Said to Plan Regulatory Filing for $3.1 Billion Share Sale on Jan. 25 NMDC Ltd., India’s biggest iron-ore
producer, plans to file share-sale documents to regulators on
Jan. 25 for its proposed 140 billion rupee ($3.1 billion) offer,
according to two company executives.
OCBC Recommends Rupee Options as Rising Yields Set to Boost India Currency India’s rupee, the best-performing
Asian currency last quarter, will extend gains in the coming six
months and investors should use currency options to benefit,
according to Oversea-Chinese Banking Corp.
Mustard Output in India May Fall on Weather, Boosting Palm Oil, Group Says The mustard seed harvest in India
may be smaller than a year earlier as dry weather reduced the
planting area of the winter-sown crop, said an official at the
nation’s biggest group of oilseeds processors.
Ten-Year Bonds Little Changed on Rate Outlook; Yields Near Month's High India’s 10-year bond yields held
near this month’s high on speculation the central bank will
raise borrowing costs to slow inflation.
Rice Export Prices May Remain at $600 a Ton on Crop Damage, Economist Says Rice export prices will probably be
sustained at about $600 per metric ton after drought and floods
damaged crops in India and the Philippines, an agricultural
economist said. Rice futures rallied in Chicago.
Obama Seeking Ways to Recoup Bank-Bailout Funds for Taxpayers, Gibbs Says President Barack Obama’s budget, set
for release in the next several weeks, likely will include
provisions to ensure that the taxpayer money put into bailing
out the financial system is repaid, White House press secretary
Robert Gibbs said.
Bank Profits Tripling Leaves Stocks Cheapest With 15% Discount to S&P 500 No U.S. industry has faster profit
growth than banks and brokers, and no group is more hated by
investors.
Dollar Declines, Treasuries Rise as Traders Cut Bets Fed Will Raise Rates The U.S. dollar fell and Treasury
two-year notes rose as investors added to bets that the Federal
Reserve will keep interest rates at a record low to spur growth.
Metals rallied after China’s imports surged to a record.
Geithner Retains Support of Obama, Democratic Leaders Amid AIG Controversy Treasury Secretary Timothy Geithner
retains the confidence of President Barack Obama as he faces
questions about why the Federal Reserve Bank of New York tried
to withhold details of the government’s financial-industry
rescue, administration officials said.
Chavez's Return to `Corrupt' 1980s-Style Currency to Spark Inflation Surge President Hugo Chavez, struggling to
stem an outflow of dollars and rein in a budget deficit, has
adopted a multiple-tiered exchange-rate system that fueled
corruption, food shortages and inflation in the 1980s.
Societe Generale Hires Former BofA Economist Cuadrado for Latin America Societe Generale SA, France’s
second-largest bank by market value, hired Alejandro Cuadrado as
a Latin America economist.
Thain Says Fee for Being `Too Big to Fail' May Be Part of Reform Solution John Thain, the former chief
executive officer of Merrill Lynch & Co., said a “fee” may be
necessary to solve the problem of banks becoming so great a risk
to the financial system that they need government aid.
source: Bloomberg
