India & Pakistan
Tata Motors Turns to Profit in Second Quarter on Cost Cuts at Jaguar Unit Tata Motors Ltd., the Indian
truckmaker that owns Jaguar Land Rover, turned to a profit in
the second quarter after it cut costs at the luxury car unit and
earned returns from investments in group companies.
Indian Stocks, Rupee, Bonds Decline on Concern Dubai May Default on Debt India’s stocks, currency and bonds
fell on concern investors may shy away from riskier emerging
market assets over losses stemming from Dubai’s attempt to
reschedule its debt.
India Studying Effect of Dubai's Debt Delay Plan on $1.2 Trillion Economy India, the world’s top recipient of
migrant remittances, is examining the effect Dubai’s attempt to
delay debt repayments may have on Asia’s third-largest economy,
central bank Governor Duvvuri Subbarao said.
Mobius Says Dubai Debt Concern May Trigger Emerging-Markets `Correction' Templeton Asset Management Ltd.’s
Mark Mobius said Dubai’s attempt to reschedule debt may cause a
“correction” in emerging markets, compounded by Vietnam’s
currency devaluation and an “avalanche” of initial share sales.
Yen Strengthens to 14-Year High, Prompting Speculation Japan to Intervene The yen strengthened to a 14-year
high against the dollar, climbing past 85 to the greenback and
prompting speculation Japan will intervene in markets to
preserve the nation’s export-led economic recovery.
Abu Dhabi Commercial Bank May Have Most Dubai World Loans at $1.9 Billion Abu Dhabi Commercial Bank PJSC may be
owed $1.9 billion by Dubai World, making it the largest creditor
outside the emirate to the state company seeking to reschedule
debt, said two people familiar with the companies.
Gold Declines for Second Day as Dollar Strengthens on Dubai Debt Concern Gold declined for a second day,
extending its retreat from an all-time high as a stronger dollar
damped demand for the precious metal as an alternative asset.
Credit-Default Swap Reforms Roiled as Aiful, Cemex, Thomson Test Payments Wall Street’s system for determining
payments on derivatives linked to the debt of defaulted
companies is showing cracks less than a year after securities
firms changed practices to avoid “Draconian” regulation.
Reliance Capital Plans to Acquire Controlling Stake in Quant Capital Group Reliance Capital Ltd. plans to
acquire a controlling stake in Mumbai-based Quant Capital Group,
according to a statement to the National Stock Exchange.
Ranbaxy Shares Climb to Highest in a Year as Valtrex Sales Begin in U.S. Ranbaxy Laboratories Ltd., India’s
biggest drugmaker, rose to its highest level in more than a year
in Mumbai trading after it began selling a generic version of
GlaxoSmithKline Plc’s Valtrex drug in the U.S.
Pakistan Concerned Obama's Afghan Strategy May Harm Security, Gilani Says Pakistan is concerned that President
Barack Obama’s new Afghanistan strategy may cause Taliban
militants to stream across the border and destabilize its
southwest, Prime Minister Yousuf Raza Gilani said.
Sri Lanka Completes Return of Civil War Refugees to Northen Jaffna Area Sri Lanka said it completed the
return of Tamil civilians displaced in the war with Tamil Tiger
rebels to the northern Jaffna district as part of plans to
settle almost 122,000 people in camps by the end of January.
Greenhouse-Gas Pledges by China, U.S. May Drive Climate Deal in Copenhagen Pledges by China and the U.S. to set
numerical targets for their greenhouse-gas emissions through
2020 may reignite stalled progress for a global climate
agreement at negotiations next month in Copenhagen.
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