The yuan headed for its biggest weekly gain since December 2008 as China set the currency’s daily reference rate at a record high against the dollar, allowing appreciation before the G- 20 meeting tomorrow. Taiwan’s central bank unexpectedly raised its benchmark interest rate for the first time since 2008, joining Asian policy...
Saturday, June 26, 2010
Most Asian stocks rose
Most Asian stocks rose as material companies jumped following Australian Prime Minister Kevin Rudd’s resignation over his proposed tax on mining. Japanese exporters fell on a slump in U.S. housing sales. The dollar declined to a six-week low against the pound as traders increased bets the Federal Reserve will keep interest rates...
Asian stocks fell, dragging the MSCI Asia Pacific Index to its biggest drop in two weeks
The euro declined to a one-week low against the yen on concern that European banks will incur rising loan losses from the region’s debt crisis, hampering the worldwide economic recovery. China’s yuan held this week’s gains against the dollar, even as Asian currencies dropped, on speculation that China’s central bank is allowing...
Asian stocks fell for the first time in nine days after Fitch Ratings
The Chinese yuan weakened 0.24 percent, the biggest decline since December 2008, after the central bank sought more flexibility in the currency. The yen traded near a one-week high against the euro on speculation that European banks will struggle to raise money amid the debt crisis, supporting demand for Japan’s currency as a refuge.The...
Thursday, May 20, 2010
BULL’s EYE – INDUSIND BANK LIMITED
The present price is Rs.198. The returns from the present price is 26% Incorporated in the year 1994, IndusInd Bank is amongst the leading private sector banks in the country. The Bank has a network of 210 branches and 497 ATMs spread over 168 cities across the country. The Bank also has representative offices in Dubai and London....
Emami Limited (Emami) is the flagship company of the Kolkata based Emami Group
Emami Limited (Emami) is the flagship company of the Kolkata based Emami Group. Apart from the FMCG space, Emami Group also has interests in paper, construction, cement and real estate. Emami Limited is engaged in the manufacture of personal and health care products. The company’s top four brands, namely, Navratna, Boroplus, Zandu...
Credit-default swaps soared on German Chancellor Angela Merkel’s plan to ban speculation on European government bonds
The euro slid to a four-year low against the dollar, and stocks and copper tumbled after Germany banned certain bearish investments, fueling speculation that European debt crisis will worsen. Australian consumer confidence tumbled by the most in 19 months after the central bank boosted borrowing costs for the sixth time since October...
Kharif crop is expected to see a shift to cash crops.
ABB announced an open offer to shareholders of ABB India to acquire 22.89 per cent stake in it at Rs.900 a share. Tata Steel and Steel Authority of India Limited have initiated discussions to float a joint venture to produce steel. GAIL has registered a 45 per cent increase in net profit in Q4FY’10. Axis Bank has received bids...
Asia stocks fell the most in a week after Sony Corp.
Approximately 444,000 Americans filed new claims for unemployment last week, according to the weekly jobless claims report from the Labor Department, the lowest number since late March. Claims stood at a revised 448,000 the previous week. Economists surveyed by Briefing.com expected claims to fall to 440,000. It was the fourth...
Friday, April 16, 2010
Posco, the third-largest shareholder in Macarthur Coal Ltd.
Emerging-market bond funds received an unprecedented $1.8 billion in the past week, lifting 2010 inflows to a record, on speculation central banks will raise interest rates, according to EPFR Global. Posco, the third-largest shareholder in Macarthur Coal Ltd., said it supported Peabody Energy Corp.’s revised A$4.1 billion ($3.8...
China’s economic growth accelerated to the fastest pace in almost three years.
China’s economic growth accelerated to the fastest pace in almost three years in the first quarter, adding pressure on Premier Wen Jiabao to sever the yuan’s peg to the dollar and raise interest rates. Gross domestic product rose 11.9 percent from a year earlier. Six banks have been hired by Agricultural Bank of China to arrange...
European governments offered debt-
European governments offered debt- plagued Greece a rescue package worth as much as 45 billion euros ($61 billion) at below-market interest rates in a bid to stem its fiscal crisis and restore confidence in the euro. China’s trade deficit is likely to be only temporary and surging import costs may fuel inflation, bolstering the...
Saturday, April 10, 2010
Most Asian stocks fell, led by Japanese and South Korean exporters
The number of Americans filing new claims for unemployment rose to 460,000 last week from a revised 442,000 the previous week, the Labor Department said Thursday morning. Economists surveyed by Briefing.com had expected 435,000 claims, on average. Continuing claims, a measure of those Americans who have been receiving benefits...
Asian stocks gained, driving the MSCI Asia Pacific.
Asian stocks gained, driving the MSCI Asia Pacific Index higher for the fifth straight day, as investors bet the Federal Reserve will leave the benchmark U.S. interest rate at a record low. Federal Reserve policymakers are worried that the economic recovery may lose steam going forward, despite recent moderate improvements, according...
The euro fell for a second day against the yen.
The euro fell for a second day against the yen amid concern Greece and other European countries will struggle to raise funds to repay maturing debt. The pending home sales index posted a surprise jump in February, rising 8.2% to 97.6 from a revised 90.2 in January. Economists expected the report from the National Association of...
Asian stocks rose, led by companies reliant on sales in North America
Asian stocks rose, led by companies reliant on sales in North America, as U.S. job reports boosted confidence the global economy is recovering. Former Federal Reserve Chairman Alan Greenspan said there is “a momentum building up” in the U.S. economy and the odds of it faltering have “fallen very significantly.” There is a momentum...
Saturday, April 3, 2010
Japan’s largest manufacturers became the least pessimistic
President Obama unveiled plans to open large swaths of U.S. coastal waters in the Atlantic Ocean and the Gulf of Mexico to oil and natural gas drilling -- a move likely to please the energy industry but upset the administration's environmentalist supporters. Japan’s largest manufacturers became the least pessimistic about the economy...
Peabody Energy Corp.
Peabody Energy Corp., the biggest U.S. coal company, made an unsolicited initial cash proposal to buy Australia’s Macarthur Coal Ltd. for A$3.3 billion ($3 billion) amid surging demand for the fuel in Asia. Most Asian stocks declined amid concerns a rally that took the MSCI Asia Pacific Index to a 10- week high yesterday had overvalued...
Japan’s industrial production fell in February
Japan’s industrial production fell in February and the unemployment rate held at the lowest level since March 2009, underscoring an uneven economic recovery that has yet to end deflation. Asian stocks rose, driving the MSCI Asia Pacific Index to its highest level in 10 weeks, after U.S. consumer spending increased for a fifth month...
Zhejiang Geely Holding Group signed a binding deal to buy Ford Motor Co.'s
Zhejiang Geely Holding Group signed a binding deal to buy Ford Motor Co.'s Volvo Cars unit for $1.8 billion, representing a coup for the independent Chinese automaker which is aiming to expand in Europe. China Construction Bank Corp., the nation’s second-largest lender, more than doubled profit in the fourth quarter as bad loans...
Saturday, March 27, 2010
The euro rebounded from a 10-month low against the dollar .
The euro rebounded from a 10-month low against the dollar after European Central Bank President Jean-Claude Trichet said he welcomed the European Union agreement on an aid plan for Greece. Pacific Investment Management Co., the manager of the world’s biggest bond fund, says bank securities are the best investments in credit markets....
The yen rose from a 10-week low against the dollar
The yen rose from a 10-week low against the dollar on speculation Japanese exporters took advantage of its biggest slide this year to buy the currency before the nation’s fiscal year ends next week. Stocks closed lower Wednesday as the dollar strengthened on fears tied to the growing fiscal crisis in Europe and a dour report on...
The Democratic-controlled Congress approved historic legislation.
The Democratic-controlled Congress approved historic legislation, extending health care to tens of millions of uninsured Americans and cracking down on insurance company abuses, a climactic chapter in the century-long quest for near universal coverage. Widely viewed as dead two months ago, the Senate-passed bill cleared the House...
Sunday, March 21, 2010
The Federal Reserve may raise the discount rate.
The Federal Reserve may raise the discount rate, charged on direct loans to banks, before the next meeting of the Federal Open Market Committee on April 28, economists said. Google Inc. may pull out of China on April 10, China Business News reported today, citing an unidentified Chinese sales agent for the company. Asian stocks...
Stocks rose, sending the Dow Jones Industrial Average to a 17-month high.
The Senate passed a $17.6 billion jobs bill Wednesday and sent it to President Obama to sign it into law. The measure, which includes tax breaks and funding for highway projects, has been much debated in both houses of Congress over the last few weeks. It is seen as being the first in a series of bills designed to help bring unemployment...
US new home construction fell 5.9% to an annual rate of 575,000 in February.
Federal Reserve officials repeated their pledge to keep the main interest rate near zero for an “extended period” and confirmed that emergency measures to prop up the housing market will end as planned this month. Stocks were also supported by news that ratings agency Standard & Poor's did not cut Greece's credit rating after...
China and Japan, the two biggest foreign holders of Treasuries.
China and Japan, the two biggest foreign holders of Treasuries, reduced their positions of U.S. government debt in January as a measure of demand for American financial assets fell to a six-month low. China remained the biggest owner abroad of Treasuries, even as its holdings dropped by a net $5.8 billion to $889 billion, according...
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