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News Headlines
Inflation eases, RBI seen keeping rates on hold (Reuters)
Headline inflation eased in line with expectations to its lowest level in a year for Nov.,
giving the RBI room to leave interest rates on hold at its policy review later this week.
RBI to raise rates by 25 bps by end FY11( Reuters)
The Reserve Bank of India (RBI) is expected to stay pat on rates at its review on
Thursday, with analysts anticipating the current tight liquidity conditions in the
banking system to ease by end-March, a Reuters poll showed.
Swaps Doubling Signal Traders Prepared for January Rate Rise: India Credit
(Bloomberg Finance LP)
India’s central bank will probably resume Asia’s fastest round of interest-rate
increases next month, after pausing tomorrow, on signs money-market traders are
bracing for a revival in inflation.
Govt to raise petrol prices, may follow with diesel (Reuters)
India's state-run oil retailers will raise petrol prices starting Wednesday by the most
in six months and New Delhi also plans to lift diesel prices, possibly stoking inflation
and adding to the government's political woes.
Coal Imports May Rise 78% to China, India, Drive Up Prices: Energy Markets
(Bloomberg Finance LP)
China and India may increase imports of coal by 78 percent to 337 million metric tons
next year, further driving up prices from the highest in two years and diverting
supplies from Europe to Asia.
Govt may allow FDI in multi-brand retail in 3 months (Reuters)
The government may allow foreign direct investment in multi-brand retail in the next
three months.
India selects 37 companies to build solar power plants (Reuters)
India has selected 37 companies to build solar power projects, as the country moves
forward with an ambitious plan that seeks to significantly scale up production from
near zero to 20 gigawatts by 2022.
Life insurers post Rs 20,143-crore loss in 2009-10 (BS)
Life insurance companies suffered a cumulative loss of Rs 20,143 crore in 2009-10,
according to the Insurance Regulatory and Development Authority (Irda).
Marico sees Q3 margins under pressure as input costs rise (Reuters)
Consumer products maker Marico Ltd sees pressure from rising input costs
impacting the firm's margins in the third quarter of the current fiscal.
PTC India aims IPO of financial unit in FY11 (Reuters)
Power trader PTC India aims to launch an initial public offering of its PTC Financial
Services unit in the fiscal year to end March 2011, joining a growing list of companies
that are tapping the markets in Asia's third largest economy by listing a unit.
RCom, China bank to sign $1.9-bn deal (BS)
Reliance Communications has struck a deal with China Development Bank (CDB) for
a $1.93-billion syndicated loan, a major part of which will be utilised to refinance the
company’s short-term debt, which it had incurred to pay for 3G spectrum.
Alstom, Bharat Heavy, Toshiba Are Said to Win Orders for Turbines in India
(Bloomberg Finance LP)
Bharat Heavy Electricals Ltd. , Alstom SA and Toshiba Corp. are among power
equipment makers that are set to win orders for 11 turbines from Indian state-run
power producers, according to two people familiar with the matter.
Bharti Airtel Plans to Expand Mobile Coverage in Madagascar 25% Next Year
(Bloomberg Finance LP)
Bharti Airtel Ltd. plans to expand its mobile network coverage in Madagascar by
about 25 percent in 2011 to attract customers in rural areas.
Fed Retains $600 Bln Bond-Buying Plan to Boost Econ. (Bloomberg Finance LP)
Federal Reserve officials kept their plan to expand record monetary stimulus, saying
the economic expansion hasn’t been strong enough to reduce joblessness.
China to raise inflation target in dovish signal (Reuters)
China will set a 4 percent target for consumer inflation next year, up from this year's
3 percent objective, state television said on Tuesday, an indication that the
government will desist from aggressive tightening even as price pressures mount.
South Korea Says Economic Growth to Slow Toward 5% in 2011 as Exports
Cool (Bloomberg Finance LP)
South Korea’s economic growth will probably slow to around 5 percent next year
after a 6.1 percent expansion in 2010 as export gains moderate, the nation’s finance
ministry said.
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