State Bank of India Has Slowest Profit Growth in Three Years as Loans Slow State Bank of India, the nation’s
largest, posted its weakest pace of profit growth in three years
following losses on surplus funds invested in government bonds.
Mahindra Has Biggest Decline in Five Months After Profit Misses Estimates Mahindra & Mahindra Ltd., India’s
largest maker of sport-utility vehicles and tractors, had its
biggest decline in more than five months after posting less-
than-expected third-quarter profit.
CVC's Venture Pays $771 Million to Acquire Matahari Department-Store Unit Meadow Asia Company Ltd., a unit of
U.K. buyout firm CVC Capital Partners Ltd., paid 7.2 trillion
rupiah ($771 million) to buy the department store unit of PT
Matahari Putra Prima, Indonesia’s biggest retailer.
Overseas Investors Sell Most Indian Equities in 15 Months as Shares Drop Overseas investors sold a net 20.6
billion rupees ($446 million) of Indian stocks on Jan. 22, the
biggest one-day sale in more than 15 months, as stocks dropped,
according to the nation’s market regulator.
Stocks Fall, Posting Longest Losing Streak in 12 Weeks; Mahindra Declines Indian stocks fell for a fifth day,
the longest losing streak in 12 weeks, as Mahindra & Mahindra
Ltd.’s lower-than-expected profit underscored concerns that
valuations are excessive.
Jet Airways Has First Profit in Three Quarters as Costs Slump; Shares Gain Jet Airways (India) Ltd., the
nation’s biggest airline by market value, posted its first
profit in three quarters after a decline in costs masked a drop
in sales. The shares rose.
Bonds Decline Most in a Week Before Central Bank Meeting on Interest Rates India’s 10-year bonds fell the most
in a week on speculation the central bank will act to curb money
supply at its policy meeting on Jan. 29 to cool inflation.
Doosan Heavy Wins $1.09 Billion Order to Build Electricity Plant in India Doosan Heavy Industries &
Construction Co. won a $1.09 billion contract from GMR Energy to
build a coal-fired power plant in India, its largest overseas
order since May 2007.
Mumbai to Sell Offices in Reclaimed Marshland for $94 Million on Demand Mumbai, India’s financial capital,
plans to sell office space in an emerging business district at a
minimum price of 4.35 billion rupees ($94 million) in a deal
that may test demand for property amid an economic recovery.
Hindalco Profit Falls on Lower Copper-Refining Fees, Rising Power Costs Hindalco Industries Ltd., India’s
largest aluminum producer, reported a 22 percent drop in profit
in its third quarter because of rising power costs and lower
copper-refining fees.
Wall Street Firms Cut Compensation, `Buckling' to Pressure From Washington Goldman Sachs Group Inc., Morgan
Stanley and JPMorgan Chase & Co.’s investment bank slashed their
compensation in the fourth quarter, responding to political
pressure that will probably persist as details of bonuses for
their top executives emerge in coming weeks.
U.S. Futures Gain as Investors Say Drop Overdone; Dollar, Treasuries Fall U.S. stock-index futures rose and
European equities pared losses as investors said last week’s
global decline was overdone. The dollar and Treasuries fell.
Goldman Sachs Said to Limit London Partners' Pay, Bonuses to $1.6 Million Goldman Sachs Group Inc., the most
profitable securities firm in Wall Street history, will cap the
salary and bonuses of its London partners at 1 million pounds
($1.6 million) amid anger about the size of investment bankers’
pay, said a person familiar with the situation.
Bernanke Confirmation Predicted by White House, Senate Republican Leader Ben S. Bernanke will keep his job as
Federal Reserve chairman, the White House and the Senate’s
senior Republican predicted two days after wavering support
among some Democrats helped drive stock prices lower.
Doll in Sync With Biggs Queries Roubini Exit Strategy With Davos Wise Men The bears of Davos are brandishing
their claws again, even as investors declare it’s time for them
to hibernate.
Corporate Bond Sales Cut in Half as Yield Spreads Widen: Credit Markets Corporate bond sales are falling
and
borrowing costs are increasing for the first time in eight weeks
amid investor concern the pace of economic recovery is flagging.
source: Bloomberg
