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India & Pakistan


Financial News

India Rejects Genetically Modified Vegetable, Hampering Monsanto Expansion India’s government rejected the nation’s first genetically modified food after protests by farmers, hampering the expansion of seed makers including Monsanto Co. in the world’s second-most populous nation.

Bharat Heavy to Boost Exports as Rivals Larsen, Toshiba Expand in India Bharat Heavy Electricals Ltd., India’s biggest power equipment maker, plans to double exports as expansions by rivals such as Larsen & Toubro Ltd. and Toshiba Corp. threaten a supply glut in its main market.

Asian Stocks Climb as Greece Concern Eases; BHP, Nissan Advance on Profit Asian stocks rose after European officials said they may help Greece grapple with its budget deficit, easing concern a sovereign default will cripple a global economic recovery.

India to Complete Building First Oil Storage Tank by Middle of Next Year India will complete building its first crude oil storage terminal by the middle of next year as it seeks to insulate the country against price fluctuations and ensure fuel supplies.

Rain Ends Pakistan Drought; Wheat Output May Rise, Weather Department Says Rain and snowfall across Pakistan this week ended drought-like conditions and may increase wheat output, the weather department said.

National Commodity Exchange's Turnover to Surge 68%, CEO Ramaseshan Says India’s National Commodity & Derivatives Exchange Ltd., partly owned by Goldman Sachs Group Inc., said it expects turnover to surge 68 percent this year as the global economy recovers.

Renault, Mahindra in Talks to Restructure Indian Joint Automaking Venture Renault SA, France’s second-biggest carmaker, will set up its own distribution network in India as the manufacturer discusses reorganizing its joint venture with partner Mahindra & Mahindra Ltd.

Temasek Said to Start Multibillion Investment Company With Its Own Money Temasek Holdings Pte, Singapore’s state investment firm, is setting up a wholly owned multibillion dollar investment company with its own money, three people with knowledge of the matter said.

Rupee Gains as Exporters Sell Dollars to Take Advantage of Three-Day Drop India’s rupee strengthened, snapping a three-day loss, on speculation exporters sold dollars to take advantage of the local currency’s decline to its lowest level this year.

General News

Sri Lanka's Rajapakse Dissolves Parliament to Set Early Election, AFP Says Sri Lankan President Mahinda Rajapakse dissolved the national parliament, preparing a path for a national election two months ahead of schedule, Agence France Presse reported, citing presidential spokesman Lucien Rajakarunanayake.

Chidambaram Says India Made `Significant' Advance in Anti-Maoist Campaign India has made significant progress in its campaign to wrest control of parts of eastern and central states from Maoist rebels, and extra forces will be deployed, the home minister said.

Somali Pirates Say India-Operated Ship Freed for $3.1 Million, AFP Reports Somali pirates said an Indian- operated ship and its crew of 26 were freed for payment of a $3.1 million ransom, Agence France-Presse reported.



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