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India and China sought to draw a line under a military standoff along part of their disputed border, agreeing to accelerate talks on a settlement and boost trade that they said would help drive the world economy.
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Indian Prime Minister Manmohan Singh’s latest skirmish with corruption risks setting back efforts to spur growth, worsening a legislative logjam under a government set to pass the fewest bills ever in a full term.
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European Union car sales rose in April for the first time since September 2011, adding to signs that the 27-nation bloc’s recession may be short-lived.
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Indian bonds completed the biggest weekly gain in 11 months on speculation slowing inflation will give the central bank room to add to three interest-rate cuts this year.
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Larsen & Toubro Ltd., India’s biggest engineering company, plans to sell the nation’s first corporate inflation-linked bonds to lure investors in a country where price increases have averaged 7.2 percent in the past year.
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Gold premiums in India, the world’s biggest buyer, more than doubled on speculation that government restrictions on bullion imports by banks to rein in a record current-account deficit would reduce supplies.
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Reserve Bank of India Governor Duvvuri Subbarao said the slowest inflation since 2009 will be factored into monetary policy decisions next month. Benchmark bond yields dropped to a three-year low and stocks surged.
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India’s main opposition party stepped up pressure on Prime Minister Manmohan Singh to resign, with protests outside his home after he sought to end a political crisis by firing two ministers over graft allegations.
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The debut of electronic trading in India’s corporate bonds seeks to expand volumes now 20 percent of those in South Korea and improve transparency amid global probes into manipulation of interbank markets.
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Reserve Bank of India Governor Duvvuri Subbarao said the slowest inflation since 2009 will be factored into monetary policy decisions next month.
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