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Rupee Edges Lower; India Steps Up 82 Mining Licenses Scrutiny

Chandrasekhar Atreya
28 Dec, 2010
New York City

Mumbai stocks fluctuated in thin volume trading. Uttar Pradesh signed several agreements with major companies to make the state a power-surplus state. India sought to decide the fate of 82 coal mining licenses that are dormant for last three years.

Japan

Chandrasekhar Atreya
28 Dec, 2010
New York City

Tokyo benchmark index declined following weakness in the Chinese stock markets and a stronger yen. Industrial production rises in November for the first time in six months, while unemployment rate stays unchanged. Consumer price index dropped for the 21st month in a row in November.

Shanghai Index in 2-day Decline of 3.6%

Chandrasekhar Atreya
28 Dec, 2010
New York City

Shanghai key indexes dropped 1.7% after losing nearly 2% yesterday. Profits at industrial companies moderated in the first eleven months to November. Guizhou Province signs 47 contracts with state-run firms for 300 billion yuan.

Markets in U.S., Europe Closed Lower; AIG Up 9%

Bikram Pandey
27 Dec, 2010
New York City

U.S. indexes closed lower as snowstorm on the East Coast keep shoppers away. AIG surged after the insurer arranged $4.3 billion in credit line with banks to replace government funding. Asian markets closed lower after China lifted rates. European markets edged lower on weaker outlook for the euro.

European Indexes Weak; UK Home Prices Drop

Arthi Gupta
27 Dec, 2010
New York City

The European indexes declined tracking weak world markets. The Swiss National Bank forecasted slow growth in 2011. The UK home prices fell in December. Rating agencies lowered views on Portugal debt and reaffirmed French debt rating.

World Markets Lower on China Rate Hike; U.S. Blizzard Disruptions

Arthi Gupta
27 Dec, 2010
New York City

U.S. stocks trade lower after Asian markets closed lower and European markets were weaker. Airlines decline after blizzard conditions prevail in several Northeastern states. China lifted rates by 25 basis points on Saturday.

India Movers: GMR Infra, Accurate Transformers, KEC International

Mukesh Buch
27 Dec, 2010
New York City

Dishman Pharmaceuticals is in a deal to sell pharma products of $50 million to European multinational. GMR buy 51% stake in Kakinada SEZ for undisclosed amount. KEC International secured new orders aggregating $250 million. NMDC may increase iron ore price by 3%.

India Holds Borrowing Target

Chandrasekhar Atreya
27 Dec, 2010
New York City

Stocks in Mumbai edged lower as Asian markets closed mixed and markets in China declined. Rupee edged lower. Indian government retained its borrowing target. ONGC starts building a road from Agartala in North East to Bangladesh.

Japan

Chandrasekhar Atreya
27 Dec, 2010
New York City

Tokyo

Shanghai Indexes Drop 2% on Rate Increase

Chandrasekhar Atreya
27 Dec, 2010
New York City

Stocks in Shanghai plunged nearly 2% after China lifted rates over the weekend. The second rate increase in as many months is expected to do little to ward off the rising food and property prices. Tibet registered a sharpest rise in foreign trade in first eleven months to November.

India Movers: CEAT, Max India, Asian Paints, Indian Oil

Mukesh Buch
24 Dec, 2010
New York City

Bang Overseas and Thomas Scott (India) sign a deal. BF Utilities is in negotiation with Goldman Sachs to sell up to 15% stake for 164 km expressway. Indian Hotels allotted additional shares to Tata Sons. CEAT Limited gained after rubber duties were lowered.

Sensex in India Crosses 20,000; India Discusses Foreign Retailers Entry

Chandrasekhar Atreya
24 Dec, 2010
New York City

Mumbai stocks gained in thin trading. The government opens a discussion on direct investment from large foreign retailers as investment drops 38% in the first seven months to October. India looks to limit defense exports to $10 billion as private contractors expand in the nation.

China Targets Lower Growth; U.S. Files WTO Case for Wind Energy

Chandrasekhar Atreya
24 Dec, 2010
New York City

Shanghai stock indexes dropped on liquidity concerns and China targeted economic growth of 8% and inflation at 4% for next fiscal year. Profits at government controlled companies surged 50% in the first 11 months. U.S. files WTO complaint against China

Nikkei Dips on Stronger Yen; Japan, Turkey in $20 Billion Nuclear Plants Deal

Chandrasekhar Atreya
24 Dec, 2010
New York City

Tokyo indexes declined today and in the week as the yen strengthened against the dollar and the euro. Japan and Turkey are expected to sign agreements to build $20 billion nuclear power plants. 91.41 trillion yen budget proposal for 2011 to be approved today.

Australian Dollar Firms on Economic Optimism, Rising Commodities Prices

Chandrasekhar Atreya
24 Dec, 2010
New York City

Sydney benchmark index ended lower trading on thin volumes of declining mining stocks. Australian dollar closed above parity for the second day. New South Wales and Queensland brace for heavy rainfall in the next seven days.

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