Robinsons Retail Holdings Inc., the largest Philippine initial public offering, retreated in its Manila debut amid concern the devastation from Super Typhoon Haiyan will weigh on Southeast Asia’s fastest-growing economy.
India’s plan to pump cash into state- owned banks is brightening the prospects of two-wheeler makers as Prime Minister Manmohan Singh woos voters with cheaper loans in the world’s second-biggest market.
Now that J.C. Penney Co. Chief Executive Officer Mike Ullman has slowed the sales decline and amassed enough cash to fund two years of operations, he faces his biggest challenge since returning as CEO: a holiday season marked by price wars and penny-pinching consumers.
King Canute had it easy. Indian Finance Minister Palaniappan Chidambaram has battled currency markets for two months, trying to stem the collapse of the Indian rupee from 55 to a dollar in May to 65 this week. He has found commanding currency markets even harder than commanding the ocean waves.
Prospects for better economic growth in the U.S. and Europe are prompting analysts to raise their ratings for Indian software stocks, signaling a 31 percent rally in an industry index this year will continue.
TTK Prestige Ltd., India’s largest kitchen appliances maker, dropped for a third day, heading for the steepest decline in more than two months, as some investors judged the stock’s surge this year excessive.