The Hindu Business Line : Tuesday, September 12, 2006

INSIGHT
The bankrupt superpower
Similar to the Ponzi insurance company reporting surplus cash positions, it may be possible for the US Government to report a balanced budget while running the biggest Ponzi scheme in history. The fact that it is not, shows the depth of the proble m. More

PERSPECTIVE
UWB and issues of bank rescue
An index of financial and non-financial criteria should be developed to identify banks that are capable of acquiring sick banks and resurrecting them in the larger interests of the public. More

FOREX
Rupee slips against dollar
The rupee slid against the greenback on extensive demand for dollars from domestic oil companies. Dealers said that the home currency tracked the movement of yen against the dollar. "Yen weakened against the green back due to ... More

NBFCS
Merrill Lynch buys Shriram Transport loans
$ 100-m deal through last week More

GENERAL INSURANCE
Copyright, trademark, patent infringement cover on the rise
Insurance companies are now finding more takers among pharma and IT firms for insuring infringement of copyrights, trademarks and patents. This covers legal expenses and damages awarded in overseas litigation. Patent insurance is a complex and ... More

PUBLIC SECTOR BANKS
Syndicate Bank's accounts drive
Syndicate Bank has added 1.1 million accounts after it launched a campaign for financial inclusion in July this year. A bank release said that the bank allotted an ambitious target of 500 new account holders to each one of its ... More

FINANCIAL INSTITUTIONS
WBIDFC issue raises Rs 1,000 cr in two days
An infrastructure finance arm of the West Bengal Government has set what is being seen as a new record of sorts in large scale mobilisations from institutional investors: Rs 900-crore plus within the first few hours, ending up in Rs 1,000 crore ... More

GOVT BONDS
Bond market sees correction
After a brisk start, bond prices got corrected on profit-booking. Prices moved in a band of 30 paise. The total traded volume on the order matching system was around Rs 4,265 crore. Dealers said the higher than expected ... More

CREDIT MARKET
HSBC to tap card venture to extend `merchant loans'
Global campaign to promote SME product suite More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates were between 6.00 and 6.10 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 19 bids amounting to Rs 22,695 crore and in the second one-day reverse repo ... More

MERGERS & ACQUISITIONS
ING Vysya Bank `sells off' Bharat Overseas stake
The deal for the takeover of Bharat Overseas Bank Ltd appears to have been consummated, with ING Vysya Bank announcing today that it had "sold off" its stake in the bank. Neither the Chairman and Managing Director of Indian Overseas Bank, Mr T ... More

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Cross Currency Rates

The bankrupt superpower

OMC stocks turn active as crude price dips to 5-month low

Significant surge in IT sector exports likely: STPI Director

`NCDEX world's third largest agri-exchange'

December, not March, to decide wheat output

External debt marginally up at $125 b in 2005-06

Weak global advice triggers downfall in domestic market

Car sales up 16% in August; bikes sales slow down

Looking back
Sep. 3-Sep. 9
RBI working on multi-purpose smart cards

Bonds rally on hopes of low inflation, large capital flows

Bankers seek Tier I status for floating provisions

Anti-money laundering norms hit rural insurance

RBI issues norms for financial entities investing abroad

Premium detariffing could hit India's insurance rating

Gold weakens as dollar strengthens

UWB takeover: Management bandwidth for NPAs must