MARKET EYE-Indian shares up; Reliance, DLF gain
* The BSE index gains 0.14 percent and the 50-share NSE index is up 0.18 percent. * Shares in Reliance Industries extend gains to 3 percent, after the company said it will invest over $5 billion in the next three to five years jointly with UK partner BP to boost declining output at a key natural gas field off India's east coast. * Oil marketing companies trading higher, with traders saying that oil and gas stocks are likely to benefit from government reforms in the sector. * Indian Oil Corp up 1.1 percent, Bharat Petroleum Corp gains 3 percent and Hindustan Petroleum Corp is up 2.8 percent. * DLF shares gain 3.7 percent, hitting their highest level since Jan. 11, 2011, on continued hopes of an earnings recovery and on a CLSA upgrade. The property developer gained 8.6 percent in the previous two sessions. (email@example.com; firstname.lastname@example.org)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article