The Hindu Business Line : Friday, October 19, 2007

FINANCIAL SERVICES
Weizmann branch in Mangalore
The Mumbai-based Weizmann Forex Ltd has opened a branch in Mangalore. A press release said here that Weizmann Forex Ltd opened its 91st branch at Legacy Commercial Complex at Bendoorwell in Mangalore recently. Plans are afoot to increase the ... More

FOREX
Montek backs move on capital inflows
New Delhi, Oct. 18 The Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, has defended the recently proposed measures of the Government aimed at moderating the capital inflows, stating that these were in the right ... More

Rupee appreciation works to neighbours’ advantage
Pakistani rupee, taka remain stable against dollar More

Rupee falls tracking Sensex
The rupee plunged further against the dollar on Thursday, tracking the fall in the domestic stock market. The home currency opened at 39.46/47, fell to an intra-day low of 39.82, finally closing at 39.77/78, against Wednesday’s close of ... More

STOCKS
Bank stocks are biggest losers, Bankex dwindles 573 points
Rising interest rates and upcoming RBI policy cited as reasons More

HOUSING FINANCE
UCO Bank festival offer on loans
UCO Bank has announced festival discount on its home loans under UCO Shelter. For all new housing loans up to Rs 20 lakh, the bank will charge with immediate effect 0.25 per cent less than the normal rates. The discount will be available up to ... More

CONSUMER FINANCE
Two-wheeler sales skid on interest rate hike
More

GENERAL INSURANCE
Non-life insurers book sizeable trading profits
Improved capital beefs up solvency ratios More

Iffco-Tokio , KEIC ink pact
Korea Export Insurance (KEIC) has signed a cooperation agreement with Iffco-Tokio General Insurance to cover local transaction risks of Korean exporters in India. “As per the agreement, Iffco-Tokio is entitled to apply contract terms of ... More

RBI & OTHER CENTRAL BANKS
‘India least likely to be hit by US slowdown’
India is the least likely among Asian economies to be affected by the impending modest US-led slowdown, said a report by Lehman Brothers. Titled “India: Everything to Play For”, the report said that as long as the US GDP ... More

ADB moots SPVs for water supply
Hyderabad, Oct. 18 Asian Development Bank (ADB) has mooted special purpose vehicles (SPVs) for developing water supply systems in municipal areas.“We have been supporting India at macro level in developing infrastructure, ... More

PRIVATE BANKS
TMB opens Arakonam branch
The Tuticorin-based Tamilnad Mercantile Bank (TMB) has opened its 192nd branch at Arakonam in Vellore district. Mr Dharmendra Pratap Yadav, District Collector, inaugurated the fully computerised branch with ATM and locker facility. The Managing ... More

FOREIGN BANKS
HSBC package for rich customers
Mumbai, Oct 18 HSBC has launched an enhanced version of the ‘HSBC Premier’ service for its mass affluent customers.The new HSBC Premier offers cross-border banking services where customers can take their accounts, credit ... More

FINANCIAL INSTITUTIONS
IIFCL in talks with multilateral institutions
Keen to raise resources for infrastructure lending More

INTEREST RATES
No scope for rate cuts on loans: PNB
New Delhi, Oct 18 Punjab National Bank (PNB) expects to register 18-19 per cent growth in its topline as well as bottomline this fiscal, its Chairman and Managing Director, Dr K.C. Chakrabarty, has said.He also ruled out any reduction ... More

GOVT BONDS
Bond prices end higher
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CORPORATE BONDS
Punjab & Sind to raise Rs 1,000 cr
New Delhi, Oct. 18 Punjab & Sind Bank plans to soon raise a sum of Rs 1,000 crore through Certificate of Deposit, which is a debt instrument. A statement issued by the bank said that ICRA has assigned A1+ rating to PSB’s ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
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MERGERS & ACQUISITIONS
Macquarie buys 50% stake in Religare arm
Mumbai, Oct. 18 Religare Enterprises Ltd, a financial services company, and Australia’s Macquarie Bank Ltd have signed a Joint Venture Agreement to expand Religare’s wealth management business. Under the joint venture, ... More