RESULTS FROM IT COS SET TO EXCEED TARGETS

First-quarter results for India’s largest software services companies are expected to exceed the most bullish markets estimates, reflecting a windfall from the weaking of the rupee against the US dollar and the euro.

Livemint

Asian markets salute steep Fed cut with rally

Asian shares rallied on Wednesday with Hong Kong jumping 7 percent after the Federal Reserve's biggest interest rate cut in over two decades tempted investors to beaten-down equities, but recession fears lingered. The dollar extended its losses against the euro in early Asian trade after the Fed's emergency 75 basis-point interest rate cut wiped out the U.S. currency's yield advantage over the euro. Industrial metals, such as copper recovered some lost ground after hefty falls this week on fears a U.S. recession could derail demand, while safe-haven government bonds extended gains to fresh multi-year highs.

The Economic Times
http://economictimes.indiatimes.com/
Asian_markets_salute_steep_Fed_cut_with_rally_/
articleshow/2723158.cms

Rupee to continue rise against the dollar in 2008

The Indian rupee, that has appreciated about 12% against the dollar in 2007, will continue to rise against the dollar in 2008 but move in the 38-41 band to a dollar.After nearly three decades, the rupee has appreciated 12% against the greenback and about 6% against a basket of six major world currencies belonging to the US, the UK, Japan, Euroland, China and Hong Kong. The rupee began the calendar year 2007 at Rs44.26 a dollar.

Mint
http://www.livemint.com/2007/12/28000330/
Rupee-to-continue-rise-against.html