Reserve Bank of India Says Inflation a `Major Concern' Amid Rising Demand India’s central bank said inflation
has emerged as a “major concern” amid strengthening consumer
demand, signaling the possibility of raising borrowing costs.
Tata Steel Net Income More Than Doubles on Rising Car, Construction Demand Tata Steel Ltd., India’s biggest
producer, reported its first quarterly profit increase this
financial year on higher demand from automakers and builders.
Sensitive Index Fluctuates; Larsen Slides on Concern Credit Costs May Rise India’s benchmark stock index was
little changed, surrendering an earlier advance, on concern
policy makers will increase credit costs tomorrow to contain
accelerating inflation.
Infosys Benefiting From Financial Services Recovery, Gopalakrishnan Says Infosys Technologies Ltd., India’s
second-largest software exporter, is benefiting from a strong
rebound in the financial services industry, Chief Executive
Officer Senapathy Gopalakrishnan said.
Religare Mutual Plans to Start Gold-Backed Fund to Tap Investors' Demand Religare Mutual Fund, an Indian
money-manager with 158 billion rupees ($3.4 billion) in assets,
plans to start a gold-backed fund in the world’s biggest user of
the precious metal.
Cairn India Third-Quarter Net Beats Estimates on Higher Crude Oil Output Cairn India Ltd., operator of the
nation’s biggest onshore crude oil field, reported a 23 percent
increase in third-quarter profit, beating estimates, after
boosting production.
BTS Plans $150 Million India Clean Energy Fund to Fuel Asian Top Economies BTS Investment Advisors, a private
equity fund based in Zurich and Mumbai, plans to start a $150
million fund to invest in Indian clean energy companies amid
rising interest in green power to fuel Asia’s top economies.
Rupee Rises Against Dollar on Speculation India Stock Gains to Fuel Demand India’s rupee rose against the
dollar on speculation gains in regional stocks will encourage
overseas investors to buy local assets.
Power Grid Corp. Gains in Mumbai on Plan to Sell 10% Stake to Fund Project Power Grid Corp. of India Ltd.,
the nation’s biggest electricity transmission company, rose
as much as 2.3 percent in Mumbai trading on a plan to sell a
stake to fund a project.
Ford Reports $2.7 Billion Annual Profit After Record Loss, Beats Estimates Ford Motor Co., the only major U.S.
automaker to avoid bankruptcy last year, reported annual net income of $2.7 billion after a record 2008 loss and forecast a
pretax operating profit for 2010.
Stocks, High-Yield Currencies Gain on Fed Outlook; Bonds Fall, Crude Rises Stocks rose, with the MSCI World
Index snapping its longest losing streak in almost a year, and
high-yielding currencies and oil gained after the Federal
Reserve said the U.S. economy is in a recovery.
U.K. Government's `Huge' Bank Sales Will Surpass Thatcher's Privatizations The British government is seeking to
raise more cash by selling its 71.5 billion-pound ($116 billion)
stake in three crippled banks than Margaret Thatcher generated
by disposing of state-owned businesses during her entire 11
years in office.
Blackstone's Schwarzman Warns of Tighter Credit After Criticism of Banks Banks may start to rein in lending,
putting the economic recovery at risk, if politicians keep
attacking them and regulatory uncertainty persists, Blackstone
Group LP Chief Executive Officer Steven Schwarzman said.
Nokia's Quarterly Prices Rise 65%, Topping Analysts' Estimate; Shares Soar Nokia Oyj, the world’s biggest maker
of mobile phones, said fourth-quarter profit rose 65 percent,
beating analysts’ estimates, as it unexpectedly reclaimed market
share in smartphones.
Lockheed Martin Raises 2010 Earnings Forecast Less Than Analysts Predicted Lockheed Martin Corp., the world’s
largest defense company, raised its 2010 profit forecast less
than analysts estimated and said fourth-quarter earnings
increased less than 1 percent.
Brazil Yields to Drop as Pimco, BofA Say Traders Overestimating Rate Rises Brazilian local bond yields will
plunge this year because traders are overestimating interest-
rate increases in Latin America’s biggest economy, Bank of
America Corp. and Pacific Investment Management Co. said.
source: Bloomberg
