MARKETS / FINANCE

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India to continue duty free sugar import

India, the largest sugar consumer in the world, is unlikely to reinstate customs duty on raw sugar import despite a fall in sugar prices and the projected higher output this year. The sugar industry urged the government for the restoration of import duty in order to discourage import in the wake of falling sugar prices in the country. While the government decided to continue duty free sugar.

German wheat production to fall this season

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Wheat production in Germany, Europe's second largest producer, is expected to fall this season due to wet weather conditions. According to DRV farm co-operatives association, German winter wheat harvest, essentially all the crop, will fall by 1.3% to 24.59 million tones. The DRV currently expects no record harvest, but good average yields, the co-operative said.
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NSEL offers gold trading in demat form

India-based electronic spot commodity trading bourse, National Spot Exchange Limited (NSEL) is mulling to tap retail segment of gold investors by launching demat gold investment product on its platform on Wednesday, March 17, 2010. The segment, which on lines of cash segment in equities, offers commodities in the demat form in smaller denominations like one gm, two gms, three gms etc.
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What does your hiring audience see in 7 seconds?

Dear Sam: I am struggling to get any attention or response to my current résumé. People look at my résumé and see that I have never held the specific job title I'm applying for, whether it is administrative assistant or receptionist.
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Greek PM warns of debt spiral, hopes to avoid IMF

Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, warning it cannot achieve promised deficit cuts if its borrowing costs remain so high and may have to call in the IMF.
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Teva to buy Ratiopharm for nearly $5 billion

Israel's Teva has won the battle for German generic drugmaker Ratiopharm, paying an enterprise value of 3.625 billion euros to fix the industry leader's weakness in the world's second-largest generics market.
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New jobless claims dip slightly

The number of workers filing new applications for unemployment benefits fell less than expected last week, while consumer prices were unchanged in February on lower energy prices.
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Wall St. set for level open

Wall Street was set for a flat open on Thursday, one day after the Dow pushed to a 17-month high, as data showed consumer prices were unchanged in February and the number of new applications for jobless benefits fell slightly less than expected last week.
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Futures hold steady after jobs, inflation data

Stock index futures remained little changed on Thursday after data showed first-time applications for jobless insurance ticked lower in the latest week, and U.S. consumer prices were unexpectedly unchanged in February.
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Greek worries rattle euro, world stocks dip

World stocks slipped back from recent closing highs on Thursday and the euro fell half a percent against the dollar on worries about Greece not receiving European Union aid.
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Greek PM fears debt cost spiral

Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, warning it cannot achieve promised deficit cuts if its borrowing costs remain high and might have to call in the IMF.
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Stock futures signal dip; Nike eyed

Stock index futures pointed to a slightly lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.2 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures down 0.12 percent.
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Greek PM warns over effect of high borrowing costs

Greece's prime minister warned on Thursday that Athens would not be able to make planned deficit cuts unless it can borrow money more cheaply and said he would prefer not to have to turn to the IMF for help.
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Greece may seek IMF help: report

Greece may seek financial aid from the International Monetary Fund next month because it is growing increasingly pessimistic about the prospect of help from the European Union, Dow Jones Newswires reported on Thursday.
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Microsoft MSN China top exec to leave

A top executive for Microsoft Corp's MSN China will leave the joint venture, Microsoft said on Thursday, in a setback as the firm struggles to compete in China's hotly contested social networking space.
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Comerica repays TARP; Hartford sells $1.95 bln stock

Regional bank Comerica Inc on Wednesday said it has repaid $2.25 billion of federal bailout money, while Hartford Financial Services Group Inc said it sold $1.95 billion of stock to help repay $3.4 billion of its bailout funds.
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New password-stealing virus targets Facebook

Hackers have flooded the Internet with virus-tainted spam that targets Facebook's estimated 400 million users in an effort to steal banking passwords and gather other sensitive information.
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Fed's Bernanke sees U.S. backing Fannie, Freddie debt

Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.
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Bernanke defends Fed small bank supervision role

Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
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TheStreet.com says it's being probed by SEC

Investment news website TheStreet.com Inc said on Wednesday the U.S. Securities and Exchange Commission was investigating the company over the way it recorded revenue at a former subsidiary.
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EA to offer complete online Woods game around Masters

Tiger Woods return to pro golf for the Masters tournament next month is being celebrated by more than fans as EA Sports will launch the final commercial version of its online golf game named after the world's top golfer that week, the company's president said on Wednesday.
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Daily Forecast - 18/3/2010

The Australian Dollar opens higher today at 0.9220. In the absence of any local economic data yesterday, traders were content to play the ranges and the currency was quickly sold when it attempted to dip its toe in the water at US92 cents.
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Bernanke defends Fed's small bank supervision role

Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
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Dow hits 17-month high on energy, financials

Stocks gained on Wednesday, pushing the Dow to a 17-month high, after a benign February inflation reading supported the Federal Reserve's renewed pledge of low interest rates.
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Producer prices fall on lower energy costs

U.S. producer prices in February posted their biggest fall in seven months as energy costs tumbled, validating the Federal Reserve's decision to hold interest rates very low on evidence of tame inflation.

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