The Hindu Business Line : Wednesday, May 16, 2007

Rupee falls 9 paise
The rupee weakened by around nine paise on Tuesday due to strong demand from oil importers. The home currency opened at 40.78 and closed at 40.97 against Monday's close of 40.88. "Some nationalised banks were seen buying dollars ... More

FINANCIAL PERFORMANCE
Dhanalakshmi Bank net up 70%
Dhanalakshmi Bank's net profit has grown 70 per cent and touched Rs 16.14 crore (Rs 9.52 crore) for the year 2006-07. The operating profit has, meanwhile, grown 67 per cent to Rs 38.64 crore (Rs 23.09 crore), a press release ... More

LIFE INSURANCE
Aviva Life's growth fund clocks 35% rise
Launches guaranteed returns plan More

GENERAL INSURANCE
Pvt non-life insurers expand share to 35% in 2006-07
Public sector non-life insurers grew by 8.6% More

HDFC parts ways with Chubb
Buys 3.25 crore equity shares of Chubb in insurance venture More

PUBLIC SECTOR BANKS
Lok Sabha passes SBI subsidiary banks' Bill
Move gives `little more headroom' for raising capital More

Franklin ties up with Central Bank of India
Franklin Templeton Investments has signed a memorandum of understanding with Central Bank of India for distributing its products. "One-third of Franklin Templeton's assets in India comes from the banking segment," said Mr Sandeep Singh, ... More

INTEREST RATES
Customers wail as banks hike EMIs on home loans
Lenders prefer not to extend tenor of loans with floating rates More

GOVT BONDS
Bond prices gain 23 paise
Bond prices rose by around 23 paise and yields went down by three basis points on improving liquidity in the banking system. Total traded volumes on the order matching system increased to Rs 3,550 crore (Rs 2,030 crore). "The ... More

MONETARY POLICY
Asset prices thrive on liquidity
One of the first things that Mr Gordon Brown, Britain's Chancellor of the Exchequer, did, after Labour came to power, was to make the BoE autonomous and responsible for ensuring inflation did not exceed target. It has worked well for ten long ... More

SHORT TERM INSTRUMENTS
Call rates ends flat
The inter-bank call rates ended flat on Tuesday. The rate closed at 8.75 - 9 per cent as against the previous close of 8.50 - 9 per cent following the announcement of Market Stabilisation Scheme auction worth Rs 6,000 crore ... More

MERGERS & ACQUISITIONS
Dubai co Legatum invests Rs 100 cr in SHARE Microfin
Legatum, a Dubai-based private firm with investments in international financial markets, has announced an investment of Rs 100 crore ($25 million) to acquire a majority stake in Hyderabad-based micro finance institution, SHARE Microfin Ltd ... More

IPOS
Central Bank of India's IPO in June
Central Bank of India's initial public offer (IPO) will hit the markets in June, said Ms H.A. Daruwalla, Chairman and Managing Director, Central Bank of India, on the sidelines of a press conference. The bank will file for the IPO with SEBI this ... More

PEOPLE
New director for Geojit BNP
Mr Stefan Groening has joined Geojit BNP Paribas as Director, Planning and Control at its Corporate Office, in Kochi. He will be in charge of Compliance, Audit and Control, according to a press release. Mr Groening was earlier in ... More

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Looking back
May. 6-May. 12
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