Asia
Stocks, Crude Oil Fall on Indian Rate Increase, Concerns Growth Will Stall Stocks dropped and the oil price
slid for a third day after a surprise interest-rate increase in
India fanned concern the global recovery will stall as economic
stimulus programs are wound back.
Shell, PetroChina to Buy Arrow Energy After Improved Offer of $3.2 Billion Royal Dutch Shell Plc and
PetroChina Co. agreed to buy Arrow Energy Ltd. after increasing
their offer to A$3.5 billion ($3.2 billion), marking China’s
entry to Australia’s coal-seam gas industry.
China's Chen Accuses U.S. of Politicizing Yuan as Its Trade Surplus Sinks China warned the U.S. against
imposing sanctions over the value of the yuan, arguing that the
exchange rate issue has been politicized and that a rise in
protectionism threatens the global economic recovery.
Google's Looming China Exit Adds Pressure to Gain Ground in Japan, Korea Google Inc.’s looming withdrawal
from China adds to pressure to expand in South Korea and Japan,
where the Web-search company has won a fraction of the
popularity it enjoys in the U.S. and Europe.
Citigroup Hires Nomura's Colin Banfield as Asia Mergers, Acquisitions Head Citigroup Inc. hired Nomura
Holdings Inc.’s Colin Banfield as head of mergers and
acquisitions for the Asia-Pacific region, according to two
people with knowledge of the matter.
Japan Said to Plan Unlimited Guarantees for Samurai Bonds to Expand Market Japan may provide unlimited
guarantees for Samurai bond sales by foreign governments as it
seeks to expand the yen capital market, according to two people
with direct knowledge of the matter.
Bharti Arranges $9 Billion Zain Bid Financing; Debt May Drag on Earnings Bharti Airtel Ltd. moved a step
closer to its proposed $9 billion acquisition of Zain’s African
assets after it arranged funding for 90 percent of the bid, a
level of debt that may drag on earnings for the next year.
Temasek-Owned SP AusNet Swaps Loans for Bonds to Reduce Financing Risks SP AusNet, which manages a A$6.3
billion ($5.77 billion) electricity and gas network, is
replacing bank debt with bonds to get cheaper funding and
flexibility to increase loans if bond markets slam shut.
China's Stocks Will Extend Declines on Inflation Risk, Dreyfus' Simon Says China’s stocks will likely extend
declines for the next several months as inflation risks increase
before rebounding by the third quarter, said Hugh Simon, co-
manager of the $1.1 billion Dreyfus Greater China Fund.
India's Most Expensive BRIC Stocks Slide on Interest Rate Rise; Bonds Drop Indian stocks and bonds fell after
the central bank raised interest rates for the first time in
almost two years. Automakers and lenders led the drop.
Rio Tinto's Stern Hu Pleads Guilty to Bribery, Co-Accused's Lawyer Says Rio Tinto Group’s Stern Hu,
detained for almost nine months in China, pleaded guilty today
to charges of bribery in a Shanghai court, a lawyer said.
China Sandstorm Sends Air Pollution to Record Levels in Hong Kong, Taiwan Hong Kong and Taiwan told residents
to reduce outdoor activities as air pollution hit records in the
wake of a weekend sandstorm that swept across northern China.
Cyclone Ului Winds Damage Homes, Cane, Cut Power in Australia's Queensland Cyclone Ului weakened to a
depression after slamming northern Queensland with winds gusting
to 200 kilometers (124 miles) an hour yesterday, damaging houses
and sugar cane plantations and triggering power blackouts.
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