MARKETS / FINANCE

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NCDC asked to augment storage capacity

In order to enable cooperative sector to play their role effectively in the development of the economy, NCDC is asked to adapt changes and evolve innovative strategies and business practices. Addressing at the 69th meeting of General Council of the National Cooperative Development Corporation (NCDC), India's Minister of Food and Agriculture, Sharad Pawar asked to it to launch a special and concerted effort to augment storage capacity in the cooperative sector and promote the development of cold ...

RSBL plans Silver ETF for Indian market

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As the uncertainty on the currency derivatives is looming large and gold investments became less yielding in the time of reduced physical demand from consumers, traders have found an attractive investment instrument from silver for their investors as bullion traders are now mulling to launch silver ETFs in India.

Nations on gold production spree, will prices stay?

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The soaring prices of gold prompted all gold producers across the globe to raise their output and that is certain to impact the gold prices in the coming months. Miners from all corers have reported a rise in production as several firms tried to cash in on the rising prices and reduced their hedging in anticipation of better prices in the coming days.
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Stock futures signal gains; housing data eyed

Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.21 percent, Dow Jones futures up 0.21 percent and Nasdaq 100 futures up 0.15 percent.
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Google reroutes China search, Beijing lashes back

Google Inc closed its China-based search service and began redirecting Web searchers to an uncensored portal in Hong Kong, drawing harsh comments from Beijing that raised doubts about the company's future in the world's largest Internet market.
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Geithner calls for housing finance revamp

The U.S. mortgage finance system should be revamped, government guarantees should be clearly defined and risk priced accordingly, Treasury Secretary Timothy Geithner plans to tell Congress on Tuesday.
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China says Google totally wrong on censoring move

China said on Tuesday that Google Inc had violated a written promise and was totally wrong to end censorship of its Chinese-language search portal, signaling a tough line over the Internet dispute.
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Google moves China search service to Hong Kong

Google Inc moved its China Internet search service to Hong Kong in a bid to resolve its dispute with Beijing over censored search results while keeping a foot in the world's largest Internet market.
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E*Trade names new CEO, plans reverse stock split

E*Trade Financial Corp named Steven Freiberg as its new chief executive and said it plans a reverse stock split, betting a former Citigroup Inc executive with consumer experience but a limited online brokerage resume will help it emerge from lending problems.
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Obama pay czar to look back at Wall Street pay

Obama administration pay czar Kenneth Feinberg plans to review past compensation at 419 companies that received bailout funds, including JPMorgan Chase , Goldman Sachs , according to a source close to the Treasury Department.
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Forex - Merkel, EU partners in tug-of-war over Greek aid

* Merkel says no need for EU summit to discuss Greek aid * Greek PM says EU needs mechanism to deter speculators * Juncker sees possible twin-track euro zone/IMF support * Trichet says any help would have to be conditional loan * Euro falls, Greek risk premium leaps amid uncertainty
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Senators form Internet freedom caucus

Several senators have formed a caucus to promote online freedom in Iran, China and other countries as the Obama administration pushes for greater access to an unfettered Internet.
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Barroso presses Merkel on Greek aid, Athens warns

The head of the European Commission challenged German Chancellor Angela Merkel to rise above domestic politics and agree on a financial safety net for debt-stricken Greece to help preserve European monetary union.
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Health stocks outpace market after reform passes

Shares of Medicaid insurers, hospital companies and even drugmakers rose on Monday as many investors concluded that passage of landmark U.S. healthcare legislation will add millions of new paying patients.
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Volume gains sweeten U.S. pill for drugmakers

Global drugmakers face a hit to earnings from 2011, as they are forced to chip in to help pay for healthcare reform, but will benefit in the long run as millions more Americans become customers for their medicines.
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Geithner: Financial reform must shield consumers

Treasury Secretary Timothy Geithner on Monday will reaffirm the Obama administration's demands for a financial reform bill that provides strong protections for consumers and strong constraints on risk taking by big financial firms.
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Tiffany profit falls short; shares drop

Tiffany & Co reported a smaller-than-expected quarterly profit as sales of lower-margin rough diamonds rose faster than its pricier and more profitable jewelry, and its shares fell 2 percent.
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Williams-Sonoma sees growth as customers return

Williams-Sonoma Inc beat quarterly profit estimates and forecast strong results for the current fiscal year on signs that consumers are ready to spend more on home decorating, and its shares rose 10 percent.
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Vietnam to stockpile coffee to boost price

In an effort to boost global coffee demand and price increase, Vietnam said it plans to stockpile the commodity in a large scale. According to country's Agriculture and Rural Development ministry, a plan to extend subsidised loans at 6 percent interest for companies to buy and stockpile coffee at 1.24 dollars per kilogram was awaiting government approval.
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Qatar to up LNG supplies to India by 4 mn tonnes

In a recent announcement, the Indian government today said that Qatar has given its consent to supply additional four million tonnes of liquefied natural gas (LNG) per year to India from 2013 onwards. India currently imports 7.5 million tons of LNG every year from Qatar's RasGas under a long-term deal. Intially, this will be raised by one million tonne in 2011 and then, it will be ramped up to four million tonnes by 2014.

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