Subbarao Warns of `Hard Landing' as Goldman Expects India Rate Increases Reserve Bank Governor Duvvuri
Subbarao said India risks a “hard landing” if inflation isn’t
reined in as Goldman Sachs Group Inc. and Morgan Stanley said
last week’s interest-rate rise isn’t sufficient to curb prices.
India's Most Expensive BRIC Stocks Slide on Interest Rate Rise; Bonds Drop Indian stocks and bonds fell after
the central bank raised interest rates for the first time in
almost two years. Automakers and lenders led the drop.
Bharti Arranges $9 Billion Zain Bid Financing; Debt May Drag on Earnings Bharti Airtel Ltd. moved a step
closer to its proposed $9 billion acquisition of Zain’s African
assets after it arranged funding for 90 percent of the bid, a
level of debt that may drag on earnings for the next year.
India to Seek Tenders for Nine $1 Billion-Plus Road Projects, Nath Says India, Asia’s third-biggest economy,
will seek bids for nine new road projects valued at more than $1
billion each over the next six months as transport bottlenecks
threaten growth.
Inflation at 6% `Acceptable,' Indian Prime Minister Singh's Adviser Says India must aim to slow inflation to
an “acceptable” level of 5 percent to 6 percent, said Montek
Singh Ahluwalia, a top economic adviser to Prime Minister
Manmohan Singh, after policy makers boosted interest rates.
Scania Studies Adding Bus Models With Larsen, Setting Up Assembly in India Scania AB, the Swedish truckmaker
controlled by Volkswagen AG, is considering selling buses in
India to add to its existing line-up of construction trucks.
India Cements, Deccan, United Breweries Gain on Cricket Team Valuations India Cements Ltd. and United
Breweries Holdings Ltd., owners of Indian Premier League cricket
franchises, gained on the BSE 200 Index after an auction of two
new teams fetched higher prices.
Qatar Agrees to Sell Additional LNG to India by 2014 to Meet Rising Demand Qatar agreed to supply an
additional 4 million metric tons of liquefied natural gas a year
to India by 2014 to meet rising energy consumption, the South
Asian country’s Oil Secretary S. Sundareshan said.
Tata Motors to Build Manufacturing Facility in Myanmar for Heavy Trucks Tata Motors Ltd., India’s biggest
commercial vehicle maker, will set up a factory in Myanmar to
build heavy trucks. The plant is expected to start production by
the last quarter of the fiscal year starting April 1, and will
have a capacity of 1,000 vehicles a year, it said in an e-mailed
statement today.
India `Complacent' on Inflation, Putting Pressure on Stocks, Goldman Says India is still “complacent” about
inflation risks and will need to keep boosting interest rates
after the nation’s first increase in almost two years, according
to Goldman Sachs Group Inc.
Biggest U.S. Health Overhaul in 45 Years Passes House in Victory for Obama The U.S. House passed the most
sweeping health-care legislation in four decades, rewriting the
rules governing medical industries and ensuring that tens of
millions of uninsured Americans will get medical coverage.
Stocks in U.S. Halt Global Decline; Dollar Retreats, Commodities Recover U.S. stocks rose and the dollar
erased gains, helping commodities trim losses, as a rally in
drugmakers overshadowed concern higher interest rates and
growing government debt will stifle the economic recovery.
Obama Paying More Than Buffett as Treasuries Show U.S. Losing AAA Stature The bond market is saying that it’s
safer to lend to Warren Buffett than Barack Obama.
Tenet, Express Scripts Gain as Health-Care Industry Reform Passes in House Tenet Healthcare Corp., Express
Scripts Inc. and St. Jude Medical Inc. led health-care stocks
higher after the U.S. House passed the most sweeping industry
overhaul in four decades.
UBS Equities Chief Daniel Coleman Leaves; Neal Shear to Take Over Position Daniel Coleman, UBS AG’s global
head of equities, is leaving after almost 24 years with
Switzerland’s biggest bank and will hand off his
responsibilities to Neal Shear, global head of securities.
Wilbur Ross's American Home Has Bookkeeping Inconsistencies, Moody's Says American Home Mortgage Servicing
Inc., the loan collections company assembled by billionaire
Wilbur Ross, has bookkeeping flaws that may hurt bond investors,
Moody’s Investors Service said.
source: Bloomberg
