HONG KONG (Reuters) – Australian swap rates rose and bill and interbank futures fell on Monday as strong housing and manufacturing data led the market to price in a higher chance of a rate increase at Tuesday’s review.
NEW YORK (Reuters) – American International Group Inc agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout money, sources familiar with the matter said.
Saudi Arabia has assured to step up its crude oil supply to India from about 25.5 million metric tonne (mmt) a year to about 40 mmt a year, an official statement from the Indian government said quoting Saudi Arabian minister of petroleum and mineral resources Ali bin Ibrahim Al-Naimi. The assurance was made to petroleum minister Murli Deora who met his Saudi Arabian counterpart on Sunday, the statement added. Deora said India expects to double crude oil supply by Saudi Arabia as three grass-root refinery projects at Bhatinda, Bina and Paradip are nearing completion. Saudi Arabia is geared to meet …
Asian Development Bank (ADB) has sanctioned a loan of Rs 300 crore for the implementation of the recommendations made by United Nations World Tourism Organisation (UNWTO) in their project appraisal report. The state had earlier engaged the services of UNWTO to prepare a strategic master plan for developing the tourism sector in the state. In the first phase, the funding will come for the Amritsar, Sultanpur Lodhi and Keshopur wetlands.
LONDON (Reuters) – Britain’s opposition Conservatives may tone down their tough message on the need to rein in the gaping budget deficit after a poll showed they could lose an election due by June.
ATHENS (Reuters) – Greece may soon announce fresh steps to cut its budget deficit, a top official said on Sunday, amid signs that Athens might be close to reaching a deal with European Union governments to ease the Greek debt crisis.
BERLIN (Reuters) – Europe’s single currency project is facing its toughest period since its launch over a decade ago and it is essential that Greece tackle the roots of its troubles to restore confidence, German Chancellor Angela Merkel said.
The government has assured India Inc that it would come out with a revised direct taxes code (DTC) draft and seek their comments before finalising it. We will prepare a revised draft (of DTC) and that will be placed in the public domain for getting comments … but that will be for a shorter period, Finance Minister Pranab Mukherjee said while addressing the concerns of India Inc at a joint post-Budget meeting organised by industry chambers FICCI, CII and Assocham here on Saturday. The government, he further said, will consider suggestion of the industry to raise savings limit for personal …
TOKYO (Reuters) – Toyota Motor Corp said its president would hold a news conference in Beijing on Monday as the automaker looks to limit the damage from a massive global recall on the fast-growing Chinese market.
NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said fourth-quarter profit surged, helped by derivatives bets tied to global stock markets, though operating profit fell 40 percent as the weakened economy weighed on several businesses.