Jahangir Aziz, Head of EM Asia Economic Research at JP Morgan, says the Reserve Bank of India is unlikely to raise interest rates on Tuesday, but could make a move in the first quarter of 2015.» Read More
NEW YORK- Millions of people across the eastern United States awoke on Tuesday to scenes of destruction wrought by monster storm Sandy, which knocked out power to huge swathes of the nation's most densely populated region, swamped New York's subway system and submerged streets in Manhattan's financial district.
New data reveal a staggering increase in billionaires’ wealth as a percentage of national income in India to a whopping 22 percent in 2008.
NEW YORK/ REHOBOTH BEACH- Sandy, one of the biggest storms to hit the United States, pounded the east coast on Tuesday, flooding large parts of New York City, bringing transport to a halt and interrupting the presidential campaign.
MUMBAI, Oct 30- India's central bank left interest rates on hold on Tuesday but cut the cash reserve ratio for banks, defying pressure from the government to lower rates for the first time since April but also indicating it may ease policy in early 2013..
--Acorda Therapeutics Inc: rescheduled third-quarter financial results and conference call to Oct. 31 from Oct. 30. --Advent Software Inc reschedules third-quarter results and conference call to Oct. 30. --AGCO Corp rescheduled third-quarter results to Oct 31, 8 am Eastern Time from Oct. 30.
*StanChart shares down 0.6 pct in London. HONG KONG/ LONDON, Oct 30- Standard Chartered said it was aiming for a wider year-end settlement with U.S. authorities investigating its Iran- linked transactions.
Sandy, one of the biggest storms ever to hit the United States, has had no impact on trading in Asia, but the closure of markets in the United States could curb volume and increase volatility. Gold hit a low around $1,704 an ounce and was at $1,711.70 by 0713 GMT, up $2.46.
*MSCI Asia ex- Japan inches up 0.1 pct. TOKYO, Oct 30- Asian shares rose modestly but momentum was curbed by a giant, powerful storm that will keep U.S. markets shut, while the dollar slid to an intraday low against the yen after the Bank of Japan unveiled further easing steps.
*StanChart shares up a touch in weak Hong Kong. HONG KONG, Oct 30- Asia- focused bank Standard Chartered Plc said its operating profit grew by a mid-single digit rate in the first nine months of the year, keeping it on track for a 10th straight year of record earnings.
MUMBAI, Oct 30- India's central bank left interest rates on hold on Tuesday but cut the cash reserve ratio for banks, defying pressure from the government to lower rates for the first time since April but also indicating it may soon ease policy further.
*StanChart shares down 1.1 pct in Hong Kong. HONG KONG, Oct 30- Asia- focused bank Standard Chartered said its operating profit grew by a mid-single digit rate in the first nine months of the year, putting it on track for a 10th straight year of record earnings.
From protests and mass rallies to burning of government effigies, Indian shop owners say Wal-Mart is not welcome in India. But do these businesses have reason to fear the world's biggest retailer entering their market?
SINGAPORE, Oct 30- Gold edged down on Tuesday, heading for its biggest monthly loss since May, after disappointing corporate earnings prompted investors to sell holdings to cover losses in other markets, which have been hurt This week's focus will be Friday's U.S. non-farm payrolls report, which could shed light on the nascent labour market recovery and influence an increasingly tight election between Republican Mitt Romney and Democrat Barack Obama.
Oct 29- Enterprise technology maker JDA Software Group Inc is exploring a sale and has hired JPMorgan Chase& Co to advise on the process, people familiar with the matter said.
Taimur Baig, Director & Chief Economist, Global Markets Research, Deutsche Bank says RBI's decision to hold rates steady is within expectations, adding that the central bank was right to place inflation as the top priority.
N Chandrasekaran, CEO of Tata Consultancy Services, India's largest IT services company, discusses his upbeat outlook for the country's economy.
*Canada already engaged in other major trade talks. OTTAWA, Oct 29- Canada and Japan will launch their first full round of bilateral trade negotiations next month, Trade Minister Ed Fast said on Monday, the latest in a series of bilateral talks Canada has begun with trade partners with multilateral efforts stalled.
HONG KONG, Oct 30- Rising bad loans in some of Asia- focused Standard Chartered's main markets such as India could take some of the shine off an otherwise strong quarterly trading update on Tuesday- which is likely to say the bank is on track for a 10th straight year of record profits.
MUMBAI, Oct 30- India's central bank faces growing pressure to cut interest rates later on Tuesday for the first time since April after the finance minister pledged to rein in the country's fiscal deficit.
Sameer Goel, Head of Rates & FX Research Asia, Deutsche Bank explains why he thinks a rate cut by the RBI may not happen now, but in 2013. He adds that the markets should give government reforms time to take effect.