India & Pakistan

Financial News

India Joins Russia, China in Questioning Dominance of U.S. Dollar Reserves Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said he is urging the government to diversify its $264.6 billion foreign-exchange reserves and hold fewer dollars.

Indian Railways to Buy New Wagons, Build Coaches to Upgrade Infrastruture Indian Railways, Asia’s oldest rail network, will buy new wagons and build more coaches to upgrade infrastructure and compete with highways to carry goods in the world’s second-fastest-growing major economy.

Monsoon Covers Entire Country 12 Days Earlier Than Normal, Aid Plantings India’s monsoon covered the entire country today, 12 days before the normal date, aiding a revival in sowing of rice, corn and oilseeds delayed by below average rains last month, the weather bureau said.

Pakistan Stocks Fall After Bomb, Paring Best Weekly Gain in Three Months Pakistan stocks fell, paring their best weekly gain in three months, after a suicide bomb attack killed one person and injured 29 in the garrison city of Rawalpindi yesterday.

Satyam Gaining Customers as Company Recovers From Fraud, CEO Gurnani Says Satyam Computer Services Ltd., the company at the center of India’s biggest corporate fraud probe, is regaining customers after its takeover by Tech Mahindra Ltd., Chief Executive Officer Chander Prakash Gurnani said.

Mukherjee May Increase Spending on the Poor in Indian Government's Budget India’s Finance Minister Pranab Mukherjee may increase spending on power, roads and aid to the poor in next week’s budget to bolster growth in Asia’s third- largest economy.

India's Rupee to Decline 6% on Delayed Global Recovery, Bank Julius Says India’s rupee will drop almost 6 percent in six months as a delayed global economic recovery spurs capital outflows, according to Bank Julius Baer & Co.

India Expects to Raise $386.6 Million From NHPC, Oil India Share Offerings India expects to raise as much as 18.54 billion rupees ($386.6 million) from selling shares in NHPC Ltd., the nation’s largest hydroelectric power generator, and Oil India Ltd., a minister said.

General News

Indian Industry Seeks Tax Cuts, Exemptions in Mukherjee's Budget: Table Following is a table showing the expectations of Indian industry from the budget for the financial year ending March 31 to be presented by Finance Minister Pranab Mukherjee in parliament on July 6.

U.S. Marines Push Deeper Into Taliban Stronghold in Southern Afghanistan U.S. troops pushed deeper into a Taliban stronghold in southern Afghanistan in a bid to root out insurgents and stabilize the region, after one Marine was killed on the operation’s first day.

Pakistan's Swat Refugees Face Threat of Disease, Need Assistance, UN Says Pakistan’s 2 million refugees displaced by fighting in the northwestern Swat Valley are facing the threat of disease as they cope with damaged water and sewage systems in towns and villages, the United Nations said.

Asian Indexes 

Asian Currencies