Euro debt worries stay
Euro debt worries stay
An employee uses an electronic machine to check an Indian currency note in Mumbai
Housing Development Finance Corp, India's largest mortgage lender, expects the RBI to cut the cash reserve ratio, rather than interest rates, at its monetary policy review on January 24, Chief Executive Keki Mistry said.
The Reserve Bank of India has raised interest rates 13 times since March 2010 by a total of 375 basis points in its bid to control headline inflation that has been steadfast above 9% for a year.
A woman labourer sweeps at the construction site of a residential complex in Kochi
HDFC, India's largest mortgage lender, expects property prices across the country to correct between 5-15% on average, its Chief Executive Keki Mistry told reporters on Monday./b>
Indian developers have seen a sharp slowdown in sales as rising interest rates deter residential buyers and funding for builders becomes scarce as economic growth slows in Asia's third-largest economy.
A shopkeeper shows gold bangles to a customer at a jewellery shop in Mumbai
India gold traders stocked up on Monday afternoon, continuing to benefit from a 7% fall in prices from the beginning of December, while silver retraced from its 1-week low to be flat.
* The most-active February gold on the Multi Commodity Exchange was down 0.17% at Rs 27,714 per 10 grams, reversing from an early low of Rs 27,593.
Billionaire financier George Soros speaks at a Reuters Newsmaker event in New Yor
The debt crisis in Europe is more dangerous than the global financial turmoil in 2008, billionaire investor George Soros said on Monday.
Soros, who made investment history by earning $1 billion with a bet against the British pound two decades ago, said the prospect of a "deflationary vicious cycle" could affect the real economy.
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