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.
China may resume a “managed float” of the yuan, while avoiding an abrupt revaluation that would wreck its exports, according to Fan Gang, an adviser to the country’s central bank. Toyota is trying to buy back a lot of the sales it lost during the recall crisis earlier this year -- in the form of fat incentives for consumers. But the aggressive incentive program from the Japanese automaker -- including zero-interest financing, subsidized leases and free maintenance for previous Toyota owners -- will come at a steep cost. Food inflation fell to its lowest in four months at 16.22% for the week ended March 13, 2010. The Government may infuse Rs.4000 crore into regional rural banks over the next two years. Steel prices are expected to move up on the back of rising input costs and low finished goods inventory. Bharti Airtel has formed two special purpose vehicles or SPVs to execute the acquisition of assets of Zain Telecom. L&T has bagged six orders worth Rs.1181 crore from various domestic and international agencies. The Essar Group will acquire an Indonesian coal mine for USD208 million. The reserves of the coal mine are to the tune of 64 million tonnes.
State Bank of India, the country’s largest bank, is planning to extend the deadline for its teaser home loan rate. Tata Motors is selling a third of its stake in Telcon, JV with Hitachi, for Rs.1000 crore. GMR Energy is planning to raise Rs.1600 crore from a group of private equity players led by Singapore-based Temasek Holdings and other banks. Gitanjali Gems has planned to divest 25 per cent of its holding in each of its brands from September 2010. DB Corp will expand its foot print across the states of Bihar, Jammu and Jharkhand.