MUMBAI - The BSE Sensex and Nifty rose more than 1 percent on Monday to mark a third consecutive day of gains as buying by insurers supported blue-chips such as HDFC Bank, while higher Asian shares and hopes of progress on key reforms underpinned the broader market.
LONDON - World share markets extended their 'Santa rally' into a fourth day on Monday, as a recovery in beaten-down oil prices and the rouble and more calls for quantitative easing from the ECB helped lift sentiment.
Ten years ago, the boss of Qatar Airways, who takes his first new A350 jet this week, warned Airbus it was flying off course. But it took another two years of sales setbacks and doubts at the highest management level before Airbus agreed to build the A350XWB to be delivered on Monday. That story is revealed here after interviews with customers, suppliers and industry sources. Full Article
With all hope of a first series triumph in Australia gone after defeats in the first two tests, India need to draw on their reserves of pride and motivation to avoid a seventh straight test loss on Australian soil this week. Full Article | Factbox - Australia v India, third test
An Australian court on Monday ordered bail revoked for the partner of a self-styled Sheikh who last week stormed a Sydney cafe at gunpoint, sparking a 16-hour hostage crisis that left three people dead, including the gunman. Full Article | Carins house to be demolished
The recent market correction was overdue. A further correction would be an opportunity for those who missed the rally in the past few months. The markets could get a reality check next year and consolidate before the next big movement. I still believe PM Modi will not fritter away his mandate and deliver on his promise, albeit with a delay, writes Ambareesh Baliga. Article
SpiceJet’s woes are all too familiar. India is cajoling banks to lend to the country’s second largest single-brand carrier when the debt-ridden airline needs more equity. The government’s hope is to save jobs and prevent a repeat of the failure of Kingfisher Airlines. Even if the rescue works, exorbitant fuel taxes and lack of a bankruptcy law will keep the industry stuck in an air pocket. Full Article
Uber’s law flouting could bring its joyride to a screeching halt. The taxi app company is covering its drivers’ fines for illegally picking up passengers. That may be just another business expense to a firm that earned a $40 billion valuation by moving quickly and breaking the rules. But the legal, lobbying and public relations costs of reckless behavior are accelerating fast. Full Article
Saudi Arabia is once again using its “oil weapon”. The kingdom has two targets in its latest oil war: it is trying to squeeze U.S. shale oil - which requires higher prices to remain competitive with conventional production - out of the market. More broadly, the Saudis are also punishing two rivals, Russia and Iran, for their support of Bashar al-Assad’s regime in the Syrian civil war. Commentary
China's Xiaomi is raising over $1 billion from investors including Singapore sovereign wealth fund GIC that would value the smartphone maker at over $45 billion, a person familiar with the deal said. Full Article