Eswar Prasad, Senior Professor of Trade Policy at Cornell University, discusses the improvement in ties between U.S. President Obama and Indian Prime Minister Modi.» Read More
India's new drive to reform its economy will spur growth in private investment and income, U.S. Treasury Secretary Timothy Geithner said on Tuesday, welcoming recent steps that have ended more than a year of policy paralysis in New Delhi.
NEW DELHI, Oct 9- India's new drive to reform its economy will spur growth in private investment and income, U.S. Sitting beside P. Chidambaram, whose appointment as India's finance minister in August helped trigger the rash of reforms, Geithner said the new policies offered "a very promising path to improving growth outcomes for the Indian economy".
gains 1.2 percent, while HDFC Bank. *Pharmaceutical stocks such as Cipla. *Cipla gains 1.5 percent while Lupin.
With Citic Pacific drawing a stunning USD7bn in a book on a USD700m deal, it would seem that investors have a risk-on tone in the primary markets to spite a 1.5 bp-2bp widening in the secondary markets.
MUMBAI, Oct 9- India's National Mineral Development Corp has cut iron ore prices by 2-11 percent for October from September, catering to steelmakers who face domestic shortages of the key ingredient and have had to turn to expensive imports.
Oct 09- Fitch Ratings has affirmed Russia- based diamond producer OJSC ALROSA's Long-term Issuer Default Rating and senior unsecured rating at' BB-' and Short-term IDR at' B'. Fitch assesses Alrosa's link with its controlling shareholder, the Russian Federation, as medium, which provides a one-notch uplift to the company's standalone ratings.
BEIJING/ HONG KONG, Oct 9- China's leading telecom equipment makers accused in a U.S. congressional report of being a potential security risk may face fresh scrutiny in other markets, while American firms operating in China could be vulnerable to retaliation.
NEW DELHI, Oct 9- India's recent reform measures are "very significant" and will fuel private investment in the economy, U.S. Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday.
Oct 9- China's leading telecom equipment makers accused in a U.S. congressional report of being a potential security risk may face fresh scrutiny in other markets, while American firms operating in China could be vulnerable to retaliation.
NEW DELHI, Oct 9- The Indian government is likely to give an unconditional guarantee for Air India's 74 billion rupee bond sale, a government source said. The source said the aviation and finance ministries were in final talks regarding the guarantee.
NEW DELHI, Oct 9- India plans to ask Germany's Lufthansa AG to help Air India join Star Alliance, aviation minister Ajit Singh said on Tuesday, as it renews its push to become a member of the airlines network after failing to do so last year.
India's benchmark 10- year bond yield. IMF cuts India's growth forecast to 4.9 percent this year, down from 6.1 percent in July, and says the central bank should hold rates unless inflation experiences a sustained fall. India's benchmark 5- year OIS down 1 basis point at 6.96 percent.
MUMBAI, Oct 9- India's National Mineral Development Corporation has cut iron ore prices by 2-11 percent for October from September after a request from domestic steel makers, which have been slashing capacity due to lack of the raw material, a company source told Reuters.
MUMBAI, Oct 9- The State Bank of India is seeing early signs of a revival in loan growth, A. Krishna Kumar, Managing Director, national banking group, said on Tuesday, adding that there was limited scope for further reduction in the bank's interest rates.
NEW DELHI, Oct 9- India proposes to ask airlines to provide detailed business plans three years before they purchase planes, the country's aviation minister Ajit Singh said on Tuesday.
Oct 9- Sesa Goa Ltd:. *India's Sesa Goa Ltd says remains on track to deliver the first. shipment from Liberia iron ore project in FY 2014.
The Reserve Bank of India said on Tuesday it accepted all 26 bids for 652.95 billion rupees at its one-day repo auction, through which it injects liquidity into the banking system. DATE APPLICATIONS APPLICATIONS FIXED RATE RECEIVED ACCEPTED.
Treasury Secretary Timothy Geithner was meeting Tuesday with Indian Finance Minister Palaniappan Chidambaram in New Delhi to discuss ways to improve economic ties between their two countries. Last month, the Cabinet agreed to allow foreign retail giants, such as U.S.-based Wal-Mart, into the Indian market.
The International Monetary Fund’s (IMF) sharp downgrade of its growth outlook for India sparked concerns over the future direction of Asia’s third largest economy, with one expert saying a hard landing could be on the cards.
MELBOURNE, Oct 9- Australian shares climbed 0.5 percent to a fresh 14- month high on Tuesday, with miners boosted by a jump in iron ore prices that helped offset concerns about global economic growth. No. 3 iron ore miner Fortescue Metals Group. rose 3.6 percent and Northern Iron.