The Hindu Business Line : Wednesday, May 21, 2008

No justification in ban on futures trading: Assocham
Mumbai, May 20 Futures trading is a price discovery mechanism and there is no indication of it causing inflation in the country, said the President of Associated Chambers of Commerce and Industry of India, Mr Venugopal N. Dhoot. Mr ... More

FARM CREDIT
Tractor makers see sales taking a knock
Chennai, May 20 The announcement by State Bank of India, the largest bank in the country, suspending new loans for buying tractors and farm equipment has evoked mixed response amongst financiers and manufacturers. Tractor ... More

Most banks comfortable with tractor loans
State Bank of India seems to have been an exception with regard to a bitter experience in the tractor financing business. Ask any other bank about whether it had a similar experience and the answer is NO.Andhra Bank is comfortable with ... More

‘Monthly repayment helps’
Hyderabad, May 20 Even as some public sector banks are alarmed over the quality of loans in tractor finance, microfinance company Spandana Spoorthy Innovative Financial Services Ltd is upbeat. It believes the key to ensuring prompt ... More

‘SBI’s move will hit farm sector’
New Delhi, May 20 The country’s largest bank, State Bank of India’s decision to stop disbursals on farm loans during peak agriculture season would affect the farm machinery business, the President of Tractors Manufacturers ... More

CLIMATE & WEATHER
Cyclone watch in Arabian Sea called off
The European Centre for Medium-Range Weather Forecasting (ECMWF) has withdrawn the cyclone watch in the Arabian Sea apparently in the face of invading westerly systems sweeping the northern fringes of the basin one after the other. The ... More

CULTIVATION
Govt yet to announce minimum support price for kharif crops
Pre-monsoon sowing has already commenced More

AQUACULTURE
Work on aqua-tech park under way
Thiruvananthapuram, May 20 The detailed project report for setting up an aqua-technology park near Kochi has been finalised and the preliminary work on the project is under way.The Minister for Fisheries and Registration, Mr S. Sharma, ... More

INSIGHT
Food crisis: The blame game
More

FLORICULTURE
Floriculturists seek tax waiver for greenhouse
Floriculturists and greenhouse manufacturers have appealed to the Centre to treat greenhouses as agricultural input and exempt them from a cascade of taxes. While the Government is supporting floriculture, the greenhouse, which the ... More

RUBBER
Spot rubber stays firm
Kottayam, May 20 Spot rubber finished steady on Tuesday. The market lacked the follow-up support from major consuming sectors though there was no visible selling pressure from growers or dealers. RSS 4 closed unchanged at Rs 122.75. Traders ... More

GOLD & SILVER
High prices hit gold sales in Q1, says WGC
Mumbai, May 20 Not unexpectedly, worldwide physical demand for gold (jewellery, coins and bars) suffered a setback in the first quarter of 2008, with volume down 16 per cent to about 701 tonnes.In dollar denominated value terms, demand ... More

Good response to MCX Gold Guinea
Mumbai, May 20 Considering the high open interest, the newly launched futures trading in MCX Gold Guinea (8 gm gold coin) seems to be attracting good response from investors.The contract, launched on May 8, Akshaya Tritiya day, is ... More

METALS
Base metals weighed down by supply, production concerns
Greater risk would be power shortage, logistics problems More

GENERAL INSURANCE
Commerce Ministry sets store by crop insurance for plantations
Full funding by the Centre key to smooth implementation More

COMMODITY MARKETS
Turmeric futures hit upper circuit on firm demand
Mumbai, May 20 Turmeric futures in NCDEX on Tuesday hit the upper circuit of 4 per cent at Rs 3,753 a quintal following firm demand in the spot markets and easing arrivals.Pepper and barley futures also hit the upper circuit at 3.64 per ... More

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