September 24: News in Pictures
September 24: News in Pictures
Labourers load coal on trucks at Bari Brahamina in Jammu
The government will decide on the price band for Coal India's up to $3 billion initial public offering by the second week of October, a senior official at the state-run firm said on Friday.
Earlier this week the share sale, expected to be the biggest by an Indian firm, received a go-ahead from the markets regulator, sources told Reuters.
A decision on issuing shares to anchor investors will be taken \"before that\", N C Jha, Director (Technical) at Coal India, told reporters on the sidelines of a conference.
The Coal India IPO will open on October 18 and close on October 21.
People walk in front of a partially built residential complex on the outskirts of New Delhi
Infrastructure in India is key to realising the country's potential but bureaucracy, tough financing and hesitant overseas investment have slowed development in the sector, calling into question the future of India as a powerhouse.
The stakes are huge: Asia's third-largest economy has said it needs to double infrastructure spending to $1 trillion in the five-year period starting 2012, but its record is chequered with a history of missed deadlines, red tape, and massive cost overruns.
With an economy growing at 8.5 per cent and a fast-urbanising population of 1.2 billion, the need to speed project approvals, implement new financing models and lure foreign investors is increasingly acute.
While the opportunity is clear in a country with choked roads and frequent blackouts, investors are wary, given the history of missed deadlines and red ta
A Petrobras Oil platform is seen at Guabanara bay in Rio de Janeiro
Brazilian state oil company Petrobras raised $70 billion on Thursday in the world's biggest share offering, giving the company the financial muscle it needs to tap vast offshore oil reserves.
The cash will help fund the world's largest oil exploration plan, which at $224 billion for the 2010-2014 period aims to turn Brazil into a major energy exporter.
The Rio de Janeiro-based company sold 1.87 billion new preferred shares at 26.30 reais each, the company said in a regulatory filing. It sold 2.4 billion new common ¿ or voting -- shares at 29.65 reais each.
Uncertainty that the offering might not come off had brought a prolonged sell-off of Petrobras shares that shaved more than $70 billion off its market value.
But the optimism displayed by investors seeking exposure to one of the world's largest oil finds in recent decades outweighed worries abou
An investor looks at stock information in front of an electronic board at a brokerage house in Huaibei, Anhui province
Investors made a beeline to Asian equities and emerging market bonds in the latest week, sidestepping risks associated with Europe's finances and anticipating the Federal Reserve will provide even more cheap liquidity, EPFR Global said on Friday.
\"Asia's combination of strong regional growth and the generally good fiscal profiles of key markets saw funds investing in that region fare particularly well,\" the fund tracker said in a note.
Asia ex-Japan equity funds had their best week of inflows in more than 15 months for the week ended Sept 22, Japan equity funds snapped a 12-week run of outflows and Pacific equity funds extended a string of weekly inflows to the longest since the second quarter of 2010.
Customers stand inside a gold jewellery showroom in Chennai
India gold buying remained weak for the third consecutive day on Friday as prices overseas hit a new record high and silver at 30-year peak, despite the rupee's rise, which makes the dollar-quoted asset cheaper, analysts said.
\"There are no domestic buyers, some exporters have been covering, there are plenty of orders downwards at $1,280-$1,285 (an ounce),\" said a dealer with a state-run bullion dealing bank.
International spot gold rose to a record high of $1,298.25 per ounce, propelled by continued concerns about global economic health.
However, the rupee's strength curbed the rise in local gold.
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