Andrew Holland, CEO of Ambit Investment Advisors breaks down the market impact of India's recent state elections for CNBC's Cash Flow.» Read More
NEW DELHI, Oct 1- India could amend controversial rules on tax avoidance within 20 days, the finance minister said on Monday, potentially ending months of uncertainty after the prime minister ordered a panel to clarify the tax proposals that had hurt investor confidence. In a move seen as targeting Vodafone, India passed a law in May to seek taxes from such deals.
MUMBAI, Oct 1- Indian shares rose on Monday led by infrastructure stocks after the government continues to promote projects in the sector, while software services exporters such as Infosys recovered from recent falls. Ambuja Cements gained 4.2 percent, while Infosys Ltd added 2.9 percent.
*India will allow insurance companies to invest in infrastructure projects, Finance Minister P. Chidambaram said on Monday. gains 3.3 percent while NCC Limited. *Cement makers also gain: Ambuja Cements.
Athens needs the lenders to approve a proposed package of spending cuts and tax hikes to receive the next installment of emergency loans intended to keep Greece from defaulting on its massive debts. Britain's FTSE 100 rose 1 percent to 5,801.13. In Asia, markets in China, Hong Kong and South Korea were closed for public holidays.
Oct 1- Sadbhav Engineering Ltd:. *India's Sadbhav Engineering Ltd says got contract worth 437.9. million rupees from Sardar Sarovar Narmada Nigam Ltd.
COPENHAGEN, Oct 1- Danish freight forwarder DSV. has agreed to buy Dubai- based Swift Freight, it said on Monday, with the aim of expanding in the Middle East and Africa.
NEW DELHI, Oct 1- Labour unrest forced India's ailing Kingfisher Airlines Ltd to cancel flights on Monday, the latest blow for a carrier scrambling to find an investor and sending its shares down by their daily limit of 5 percent.
NEW DELHI, Oct 1- India's insurance regulator will consider relaxing norms for insurance companies investing in debt instruments, to encourage investments in securities other than those that are AAA-rated, Finance Minister P. Chidambaram said on Monday.
NEW DELHI, Oct 1- India will set final rules on tax anti-avoidance within 20 days after considering recommendations made by a government panel, Finance Minister P. Chidambaram said on Monday.
NEW DELHI, Oct 1- India will allow insurance companies to invest in infrastructure projects, Finance Minister P. Chidambaram said on Monday, in a move that may help meet huge funding requirements as Asia's third largest economy seeks to build roads and improve the power sector.
India's benchmark 10- year bond yield. India's benchmark 5- year OIS down 1 bp at 7.04 percent, while the 1- year rate also falls 1 bp to 7.62 percent. India's one-day cash rate at 8.05/ 8.10 percent versus its previous close of 7.95/ 8.00 percent.
*India's Canara Bank Ltd says Sunder Rajan Raman, Chairman and MD retired on September 30.
Oct 1- Steel Strips Wheels Ltd:. *SSWL sales up by 24% in September, 2012. *India's Steel Strips Wheels Ltd says sold 0.925 million Steel rims.
TOKYO-- Japan's largest steelmaker, Nippon Steel Corp., has joined with Sumitomo Metal Corp. to form the world's second-biggest steel maker.
SYDNEY, Oct 1- Australian shares ended flat on Monday, giving up early gains after data showing China's manufacturing sector remained in contraction in September fuelled investor worries about weak global growth. Mining and steel maker Arrium.
*Deutsche Bank upgrades India's Financial Technologies. *Deutsche cites increased revenue from software maintenance solutions, as well as transaction volumes in exchanges MCX and MCX-SX, in which Financial Tech owns stakes. *Financial Tech also holds a 33 percent stake in India's largest energy exchange.
MUMBAI, Oct 1- State-owned refiner Indian Oil Corp plans to meet investors in Singapore on Wednesday for a possible benchmark Singapore dollar bond sale, a source with direct knowledge of the deal said. The firm has picked Standard Chartered and DBS for the offshore bond sale, said the source.
SYDNEY, Oct 1- Australian shares finished flat on Monday, after data showing that while China's manufacturing sector had improved somewhat in September, it remained in contraction, heightening investors' worries about weak global economic growth.
New Delhi, Oct 1- India's Kingfisher Airlines Ltd. "A section of employees of Kingfisher Airlines has not been reporting for work over the last fortnight and over the past two days, they have been threatening and even manhandling the other employees who are reporting for work," Kingfisher spokesman Prakash Mirpuri said in a statement.
NEW DELHI, Oct 1- India's civil aviation regulator is "examining" the situation at Kingfisher Airlines. after the ailing carrier was forced to cancel several flights on Monday due to employee unrest, an official at the regulator told Reuters.