News Highlights Monday 3 March 2008

The Business Times, P19




Rupee not likely to repeat 12% rise this year: minister
For this year, the Indian government expects its economy to grow close to 9% and inflation to be contained at 4%. However, it does not expect its rupee currency to appreciate as sharply as last year, when the rupee gained more than 12 per cent against the dollar. Just last Friday, the Indian government unveiled its 2008/09 budget, which included plans to write off US$15 billion of small farmers’ debts to banks and cut income taxes. The US$1 trillion dollar Indian economy is the third largest in Asia and the fastest growing major one in the world after China.








The Straits Times, H18




Kim Eng stays upbeat on CDL
Property giant City Developments (CDL) should sail safely through choppy waters, given its big residential bank and strong financial position, says Kim Eng Research. The strategic divestment of some commercial assets could be future catalysts, it adds. CDL, it notes, had a better-than expected record net profit of S$725 million last year.