India Food Inflation Accelerates for Second Week, Boosting Rates Pressure India’s food inflation accelerated
for a second week, fueling speculation that the central bank may
raise interest rates after ordering lenders to keep more cash
reserves last week.
Sensitive Index Declines on Lower-Than-Expected Offers for NTPC Shares Indian stocks fell the most in a week,
led by construction companies, on concern the government will
raise less than expected from share sales to fund infrastructure
and after it postponed the sale of mobile phone licenses.
Sugar Production Declines in India on Delayed Crushing, Worseing Shortage Sugar output in India dropped in the
first four months of the season that began Oct. 1, worsening a
shortage that’s doubled retail prices in the world’s biggest
consumer of the commodity, a producers’ group said.
Mahindra, Tata Motors Decline After India Panel Suggests More Excise Duty Tata Motors Ltd., India’s third-
biggest carmaker, and Mahindra & Mahindra Ltd., the nation’s
largest sport-utility vehicle maker, fell in Mumbai trading
after a government-appointed panel recommended additional duty
on diesel-powered vehicles.
Rupee Falls as Investors Shun Emerging-Market Assets on Europe Debt Risk India’s rupee fell, snapping a two-
day advance, as the deteriorating public finances of European
nations including Greece and Portugal prompted investors to
favor safer bets than emerging-market assets.
Ashok Leyland Gains as January Truck Sales Surge Threefold to 7,871 Units Ashok Leyland Ltd., India’s second-
biggest truckmaker, rose as much as 4.3 percent in Mumbai after
sales surged threefold in January from a year earlier.
ACC Profit Misses Estimates After Raw Material Costs Surge; Shares Decline ACC Ltd., India’s biggest cement-
maker, reported a lower-than-estimated 42 percent increase in
full-year profit as raw material costs rose. Shares dropped to
the lowest in a month.
Reliance Capital Partners, Real Estate Investor, Buys Stake in Fame India Reliance Capital Partners, a real
estate investment company, bought about 2.7 percent of Fame
India Ltd. yesterday, data from stock exchanges showed.
Dr. Reddy's Laboratories to Retire $216 Million Betapharm Debt in 3 Years Dr. Reddy’s Laboratories Ltd.,
India’s second-largest drugmaker, will be debt-free in three
years, Chief Financial Officer Umang Vohra said today.
Portugal, Spain Lead Worldwide Decline in Stocks, Bonds; Dollar Advances Stocks and bonds fell in Spain,
Portugal and eastern Europe on concern governments will struggle
to fund their budget deficits as spending cuts in Greece trigger
labor strikes. The dollar extended gains and equities slid in
New York after U.S. jobless claims unexpectedly increased.
U.S. Productivity Climbs 6.2%, Capping Biggest One-Year Gain Since 2003 The productivity of U.S. workers kept
surging in the fourth quarter as companies squeezed more out of
remaining staff to boost earnings.
Trichet Says ECB Confident Greek Deficit Can Be Cut; Keeps Key Rate at 1% European Central Bank President Jean-
Claude Trichet said he’s confident Greece can get its budget
deficit under control and signaled officials have no plans to
raise their key interest rate from a record low of 1 percent.
Toyota 2010 Prius Brakes Investigated by U.S. Government, Following Japan Toyota Motor Corp.’s Prius hybrid car
is under investigation by the U.S. Transportation Department for
reports of defective brakes in its 2010 model.
Kraft Foods Said to Plan $4 Billion Debt Sale to Pay for Cadbury Takeover Kraft Foods Inc., the world’s second-
largest food company, plans to issue debt to pay for its
takeover of Cadbury Plc as borrowing costs for companies rise.
Nassim Taleb Says Betting on Decline in Treasuries Market Is `No Brainer' Nassim Nicholas Taleb, author of
“The Black Swan,” said “every single human being” should bet
U.S. Treasury bonds will decline, citing the policies of Federal
Reserve Chairman Ben S. Bernanke and the Obama administration.
Cisco May Hire 3,000 as Customers Increase Spending on Network Equipment Cisco Systems Inc., the biggest maker
of networking equipment, predicted accelerating sales growth and
said it will boost its workforce by as much as 3,000 as
customers resume spending to deal with surging data traffic.
source: Bloomberg
