South and Southeast Asia


  • 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.

  • JAKARTA, Oct 1- Indonesian exports and imports fell the most in three years in August, suggesting weakening third quarter growth for Southeast Asia's biggest economy that is likely to lead the central bank to keep benchmark interest rates at a record low all year.

  • 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.

  • *Arrium rejects bid, calling it undervalued and conditional. SYDNEY/ MELBOURNE, Oct 1- A consortium including Noble Group and POSCO urged Arrium.

  • 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.

  • Nippon Steel, Sumitomo Metal join to become No. 2 Monday, 1 Oct 2012 | 3:23 AM ET

    TOKYO-- Japan's largest steelmaker, Nippon Steel Corp., has joined with Sumitomo Metal Corp. to form the world's second-biggest steel maker.

  • Australia shares flat, Chinese PMI cuts gains Monday, 1 Oct 2012 | 3:02 AM ET

    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.

  • Credit Suisse started coverage of PT Garuda Indonesia Tbk. with an' outperform' and a target price of 900 rupiah, saying the national flag carrier's d i scounted stock price, organic revenue growth and cost cuts make the stock attractive.

  • 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.

  • UPDATE 1-NORDIC STOCKS - Factors to watch on Oct 1 Monday, 1 Oct 2012 | 2:38 AM ET

    HELSINKI, Oct 1- The following stocks may be affected by newspaper reports and other factors on Monday:. The EU Commission has informed the Finnish steel company that the divestment of its Swedish melting and coil operations may not be enough to permit the approval of the Inoxum deal with Thyssenkrupp, Outokumpu said.

  • *Japan's business sentiment worsens- tankan. SINGAPORE, Oct 1- Brent crude fell below $112 per barrel on Monday, reflecting investor concerns a shaky global economy may hurt oil demand following fresh evidence of weakness in China and Japan as well as persistent worries about the debt-saddled euro zone.

  • Singapore- listed Thai Beverage has emerged as the best performer among 14 companies in the city-state's consumer staples sector, data from Thomson Reuters StarMine showed. Thai Beverage is up nearly 23 percent over the past month, while the sector index is down marginally in the same period, as of Friday's close.

  • Australia shares finish flat as China PMI weighs Monday, 1 Oct 2012 | 2:19 AM ET

    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.

  • PRESS DIGEST-New York Times business news - Oct 1 Monday, 1 Oct 2012 | 2:19 AM ET

    Oct 1- The following are the top stories on the New York Times business pages on Monday. *A tax break for wage earners for which the White House campaigned hard last winter now finds little support in Washington, as Congress struggles with deficits.

  • 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.

  • NORDIC STOCKS - Factors to watch on Oct 1 Monday, 1 Oct 2012 | 2:14 AM ET

    HELSINKI, Oct 1- The following stocks may be affected by newspaper reports and other factors on Monday:. The Norwegian telecoms group is expected to raise its stake in Vimpelcom by another 3.5 percent on Monday when an option by Egyptian tycoon Naguib Sawiris' Weather Investments expires.

  • 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.

  • While the retailer has benefited from Indonesia's expanding middle class and housing boom, competitive threats are intensifying, it said. 12:33 STOCKS NEWS INDONESIA- Indonesia's Provident Agro plans $31 mln October IPO.