Standard & Poor's Upgrades India Ratings Outlook to Stable from Negative India’s credit rating outlook was
raised to “stable” from “negative” by Standard & Poor’s on
optimism faster growth in Asia’s third-largest economy will help
the government cut its budget deficit.
Bollywood Actor Amitabh Bachchan-Endorsed Suit Maker to Sell Shares in IPO Reid & Taylor (India) Ltd., the
suit maker endorsed by Bollywood star Amitabh Bachchan, plans to
sell shares for the first time to add stores and expand overseas,
its biggest shareholder said.
Morgan Stanley Hires Ex-Axis Bank Chief Nayak to Head Indian Operations Morgan Stanley hired P. Jayendra
Nayak, former chief executive officer of Axis Bank Ltd., to run
its Indian operations almost two months after country head
Narayan Ramachandran resigned.
Food Inflation Slows to 4-Month Low Helped by Bigger Winter Crops in India India’s food-price inflation slowed
to a four-month low as bigger winter crops boosted supplies of
sugar and wheat.
India to Offer Potash Sellers More Than China for Imports to Ensure Supply India, the world’s biggest potash
importer, will offer a higher price than China for overseas
purchases of the fertilizer to ensure supplies, two government
officials said yesterday.
Punj Lloyd's Offices Around India Said to Be Searched by Tax Authorities Punj Lloyd Ltd.’s offices in India
are being searched by the income tax department, according to an
official familiar with the inquiry.
Asian Casino, `Vice' Stocks Will Trump Diamonds, Asset Plays, Nomura Says Gambling, tobacco and alcohol
stocks will trump diamonds and gold as the best “hedge”
against excessive inflation or deflation in Asia, according to
Nomura Holdings Inc.
Sugar Output Target Raised in India as Yield Rises in Cane-Growing States Sugar output in India, the world’s
biggest consumer, may rise more than previously forecast as
yields improve in the main cane-growing states, Farm Minister
Sharad Pawar said.
India One-Year Swaps Overstate Interest-Rate Risk, Standard Chartered Says India’s swap rates overstate the
amount by which the central bank will likely raise borrowing
costs, providing investors an opportunity to profit by receiving
fixed payments, Standard Chartered Plc said.
Consumer Prices, Leading Index Point to U.S. Expansion Without Inflation The U.S. economy will keep
expanding without a pickup in inflation that would require the
Federal Reserve to raise interest rates, reports today
indicated.
Papandreou Gives EU One Week to Seal Aid Plan as Germany Pushes IMF Option Greek Prime Minister George
Papandreou set a one-week deadline for the European Union to
craft a financial aid mechanism for Greece, challenging Germany
to give up its doubts about a rescue package.
U.S. Stocks Fluctuate on Economic Data, Speculation on Fed Discount Rate U.S. stocks fluctuated as
speculation the Federal Reserve will increase its discount rate
tempered gains spurred by further evidence that the economy is
strengthening without stoking inflation.
El-Erian Says IMF Will Assist Greece Following `Game of Chicken' in Europe The International Monetary Fund
will come to the rescue of debt-strapped Greece after a “game
of chicken,” according to Mohamed El-Erian, co-chief investment
officer at Pacific Investment Management Co.
`Build America' Sales Halted in Florida on Concern IRS to Block Subsidies Florida temporarily suspended sales
of Build America Bonds on concern that the Internal Revenue
Service may block federal interest-cost subsidies, said Ben
Watkins, who oversees the state’s debt sales.
CIT's Thain Will Exclude Aircraft Finance From Asset Sales, Executive Says CIT Group Inc., the commercial
lender being restructured by Chief Executive Officer John A.
Thain, will retain its aircraft finance unit during the coming
round of asset sales, an executive told an industry gathering.
Sindicatum Capital May Try to Raise $100 Million for Clean Energy Projects Sindicatum Carbon Capital Ltd., the
developer of clean-energy projects that’s partly owned by
Citigroup Inc. and Cargill Inc., may raise about $100 million in
equity to boost investments, the chief executive officer said.
source: Bloomberg
