Economy News
Spain region, Greek exit warnings rattle euro zone
- Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances.
India's FX reserves fall to $290 bln in May 18 week: RBI
REUTERS - India's foreign exchange reserves fell to $290 billion as of May 18 from $291.802 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly statistical supplement on Friday.
Rupee likely to rise to 52/dollar in 6 mths: BarCap
Reuters Market Eye - USD/INR is expected to hover around 56 and 54 to a dollar in one and three months respectively, with an upside risk, before retreating only modestly to around 52 and 51 in six and 12 months, say analysts at Barclays Capital.
Bankia, Catalonia pile on Spanish debt worries
MADRID - Financial troubles at a big Spanish bank and one of the country's richest regions, Catalonia, piled on problems on Friday for the Madrid government and for investors who question whether it can pay its debts without help from euro zone allies.
Goldman Sachs, BofA-ML cut India GDP forecast
MUMBAI - Analysts at Goldman Sachs and Bank of America-Merrill Lynch cut their growth forecasts for India, following up on a Morgan Stanley downgrade earlier this week that had sparked much concern in domestic markets.
What would Greek exit mean for the U.S. economy?
WASHINGTON - Uncertainty over the fate of the euro currency is already dampening U.S. economic growth and any significant worsening of the crisis would deal a blow to a recovery that is gradually gathering steam.
Chinese WTO suit strikes back at U.S. duties
GENEVA - China launched a complaint at the World Trade Organization on Friday against U.S. import duties on 22 Chinese products that the United States says are unfairly priced or subsidised, including solar panels and steel products.
Govt's Friday meet on diesel prices in doubt: official
NEW DELHI - A planned meeting by a committee of ministers to discuss raising diesel and other fuel prices may not happen following widespread protests and political backlash to a petrol price rise, a finance ministry official said on Thursday.
China urged to act on growth as exports show spark
BEIJING - China should step up efforts to spur economic growth, including cutting the amount of cash that banks must hold as reserves, a central bank adviser said on Friday, even as the government saw tentative signs of a recovery in exports.
RBI: selling dollars to oil cos an option
MUSSOORIE - The Reserve Bank of India (RBI) may consider directly selling dollars to oil marketing companies in an attempt to arrest a further fall in the rupee, which has hit record lows for seven consecutive sessions.
Markets
- Asia
- U.S.
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- Sectors
| DOW | 12,454.83 |  -74.92 |
-0.60% |
| S&P 500 | 1,317.82 | -2.86 |
-0.22% |
| NASDAQ | 2,837.53 | -1.85 |
-0.07% |
| TR US Index | 119.59 | -0.22 |
-0.19% |
Sector Summary
| Energy | -0.07% |
| Basic Materials | -0.51% |
| Industrials | -0.40% |
| Cyclical Goods & Services | -0.06% |
| Non-Cyclical Goods & Services |  +0.23% |
| Financials | -0.42% |
| Healthcare | +0.15% |
| Technology | -0.16% |
| Telecoms | -0.08% |
| Utilities | +0.36% |
Under pressure, govt to review steep petrol hike
NEW DELHI - India's coalition government opened the way for a partial rollback of the steepest petrol hike in the country's history after two days of street protests and dissent from within its own ranks over the unpopular measure.
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