Boeing schedules 787 Dreamliner delivery for Q1 2010

USA ECONOMIC DATA

October Trade Balance -$57.2 bln vs -$53.5 bln consensus, prior revised to -$56.6 bln from -$56.5 bln

Import Prices m/m -6.7% vs -4.9% consensus; y/y -4.4% vs -2.0% consensus

U.S. Oct. trade gap with China record $28.0 bln

U.S. exports fall more sharply than imports in Oct.

U.S. Oct. gap above consensus of $54.5 bln

U.S. Oct. trade gap widens 1.1% to $57.2 bln

U.S. initial jobless claims rise 58,000 to 573,000

U.S. weekly initial claims highest since Nov. 1982

U.S. continuing jobless claims rise 338,000 to 4.4 million

U.S. continuing claims highest since Dec. 1982

Jump in continuing claims is most since 1974

U.S. Nov. import prices fall record 6.7% vs. 5% expected

U.S. Nov. nonfuel import prices fall record 1.8%

U.S. Nov. imported crude oil prices fall record 25.8%

U.S. Nov. export prices fall record 3.2%

U.S. import prices down 4.4% in past year

U.S. trade gap in October widens to $57.2 bln

S.Africa central bank cuts repo rate by 50 bps to 11.5%

India to unveil 2nd economic stimulus package next week

India's government will unveil a second fiscal stimulus package next week in a bid to boost growth and cushion labor-intensive industries that rely on exports from the slump in global demand, Commerce and Industry Minister Kamal Nath said. The minister's comments come in the wake of weak infrastructure output growth, which slowed to 3.4% in October from a 4.8% expansion in September. Core sector output forms a quarter of industrial output, data for which are due Friday and widely expected to be dismal. "We have announced the first part of the stimulus package. We are now considering another package next week and it will continue. There will be more installments," Nath told reporters. Nath said the new round of fiscal measures will focus on sectors that generate high employment such as textiles, engineering goods and agriculture. "The emphasis will be on providing them credit and incentives for exports," he said, adding that he expects exports to grow between 16% and 20% this fiscal year.

INT RATE CUTS & USA BUDGET

Taiwan's benchmark rate falls to 2% effective Friday

Taiwan central bank cuts key rate by 0.75-percentage point

Swiss National Bank cuts rates by half-point to 0.5%

South Korea slashes interest rate by one point to 3%

Brazil's central bank leaves interest rate steady at 13.75%

U.S. Nov. budget deficit $164.4 bln vs $98.2 bln yr-ago

Goldman Sachs to cut 250 jobs in Europe:

One person familiar with the matter said as many as 220 employees in London would be fired, and the layoffs would amount to about 4% of the bank's 5,500 staff in Europe, the Journal reports. A spokesman for Goldman Sachs said the job cuts were "part of the overall headcount reduction previously announced

Govt. grants Rs 100 bn bonds to 23 fertilizer co`s

The government on December 10, issued special bonds for Rs 100 billion (USD 2 billion) to 23 fertilizer companies as compensation for subsidizing prices in the current financial year.

A finance ministry statement said the government had issued 7%, 2022 special bonds to the fertilizer firms and these bonds would not be eligible as statutory requirements of banks for investment in government securities.

Steel Strips Wheels bags export order from Italian Co

Steel Strips Wheels announced on Thursday it has received an export order for supply of 46,000 wheel rims valued at Rs 24 million p.a. from Italy based Piaggio for their light commercial vehicle - Porter / Quargo model.

ONGC Videsh to raise Rs 50 bn from Indian banks

Oil and Natural Gas Corporation (ONGC`s) overseas investment arm, ONGC Videsh (OVL) would raise around Rs 50 billion through a combination of loans from domestic banks and its parent company

Solar Explosives bags 3 years order from Coal India

Solar Explosives has received 3 years order from Coal India, in the recently concluded tender. As a result of this tender there will be significant increase in the turnover of Solar Explosives.

PNB chooses Infosys` Finacle for rural banking

Infosys Technologies on December 11 announced that Punjab National Bank (PNB), one of the 500 largest public sector banks in India, has chosen Finacle from Infosys to power its rural banking, core banking initiative.

Infosys shall deploy a tailored version of Financle core banking solution across PNB`s six regional rural banks (RRB`s) covering 1,300 branches.

World Bank declares USD 2 bn lending program

The World Bank (WB) has announced the creation of a USD 2 billion fast-track lending program to aid the world`s poorest nations.

The WB`s executive board approved the creation of the lending facility to speed up grants and long term, interest-free loans to seventy-eight poor countries.

The new program, the international development association financial crisis response fast-track facility, allows the WB to provide rapid funding for social safety nets, infrastructure, education and health.

MMTC plans to sell 1,250 tons of RBD palmolein

MMTC plans to sell 1,250 tons of RBD palmolein

The last date for submission of tender is December 16 and the decision on bids would be taken by December 19, the MMTC said. Bidders can quote for the entire quantity, it said.

MMTC is a state-owned international trading company engages in import and export of precious metals, minerals, metals, coal and hydrocarbons, agro products and fertilizers

Toyota may cut production by 1 million vehicles in 2009

Toyota Corp is planning to cut output by more than one million vehicles next year in anticipation of weak global demand, according to Japanese media reports. The automaker, Japan's largest by sales, is planning to sell about 7.5 million vehicles in 2009, or about 10% fewer than this year

Sprint downgraded;

Sprint Nextel Corp. shares fell in late trading Wednesday following a downgrade of the company's debt to junk status

AIG's loss creation $10 billion

AIG may stand to lose another $10 billion on bets it made in its financial products unit, according to a report in Wednesday's Wall Street Journal.

XL shares slump on report insurer is for sale

Bermuda-based giant reportedly hires Goldman to help sell itself

XL Capital Ltd. lost a third of its market value Wednesday, leaving shares at their lowest level in at least a decade after a report the Bermuda-based insurance giant is trying to sell itself.


XL Capital Ltd. lost a third of its market value Wednesday, leaving shares at their lowest level in at least a decade after a report the Bermuda-based insurance giant is trying to sell itself.


The company was undone by a foray into insuring structured products. In 1999, it formed bond insurer XL Capital Assurance, which sold guarantees on debt such as municipal bonds.