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S&P puts 15 euro zone nations on negative watch
Standard and Poor’s has put 15 eurozone nations, including the area’s six AAA-rated countries, on “CreditWatch negative” due to deepening economic and political turmoil in the region, meaning there is 50 percent chance for
Read More »Over half of Indonesia’s forex reserves in US dollars
About 55 percent of Indonesia’s foreign exchange (forex) reserves are in US dollars, giving the central bank more flexibility to intervene in the market, a media report said quoting a senior Indonesian central bank
Read More »South Korea’s economic growth revised up in Q3
South Korea’s economic growth was revised up to 0.8 percent in the third quarter due to brisk exports and rising government expenditures, the central bank said Tuesday. Real gross domestic product (GDP), the broadest
Read More »US stocks rise higher on European hopes
US stocks rallied in early trading Monday as investors were expecting European leaders to take decisive measures to tackle the contagious debt problems, agency reported. French President Nicolas Sarkozy and German Chancellor Angela Merkel
Read More »Wipro leading IT service provider in Saudi Arabia
Global software major Wipro has emerged as a leading IT service provider in Saudi Arabia with a commanding position in the kingdom, the IT bellwether said Monday. Entering the region a decade ago in
Read More »Swedish firms to raise investment, tap new sectors
Swedish companies, both old and new in India, are likely to invest around $400 million (SEK 2.7 billion) in the next two years, especially in sectors such as auto, engineering and Information Technology, and
Read More »India’s oil refining capacity to rise to 238 mn tonnes by 2013
India will raise its petroleum refining capacity by over 22 percent from the current 194 million tonnes to 238 million tonnes by 2013, Minister of State for Petroleum R.P.N. Singh said Monday. “India’s refining
Read More »Sensex closes flat, retail stocks fall
Indian equities closed flat Monday with investors taking a breather after last week’s rally. Amid some profit booking, a benchmark index traded in a tight range before recouping most of the intra-day losses and
Read More »Experts demand rules for stake dilution in insurance firms
The government should come out with rules such as setting a time frame for dilution of excess stake held by promoters of life insurance companies as many of these firms are about to complete
Read More »Australian vehicle sales improve in November
New vehicle sales in Australia were up 1.5 percent in November, compared to the same month last year, figures released Monday by the Federal Chamber of Automotive Industries (FCAI) showed. The FCAI said 88,654
Read More »Chinese railway passenger traffic grows
China’s railways carried 1.72 billion people in the first 11 months of the year, up 10.9 percent year-on-year, the Ministry of Railways (MOR) said Monday. The figure accounts for 90.5 percent of the ministry’s
Read More »Australian inflation index falls slightly in November
Australia’s consumer prices fell slightly in November, mainly due to a decrease in the cost of fruit and vegetables, automotive fuel and holiday travel and accommodation, according to the TD Securities-Melbourne Institute inflation gauge
Read More »Sensex closes on dull note
A benchmark index for Indian equities Monday pared most of its intra-day losses and closed on a dull note. The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,812.3 points, closed at
Read More »New Zealand building activity hits 10-year low
Construction work in New Zealand fell to its lowest level in 10 years in the quarter to the end of September, the government statistics agency announced Monday. Building activity fell 2.3 percent in the
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