The Hindu Business Line : Thursday, May 22, 2008

FARM CREDIT
Tractor makers welcome SBI decision
Chennai, May 21 The Tractors Manufacturers Association has welcomed State Bank of India’s decision to continue disbursing tractor loans.The President of the Tractors Manufacturers Association (TMA), Mr L.D. Mittal, told More

OVERSEAS BORROWINGS
IIFCL’s UK arm gets 10 proposals for forex loans
Net up 306% at Rs 14.1 crore in 2007-08 More

RURAL MARKETING
Western Union finds good biz in rural, semi-urban areas
Chennai, May 21 Western Union Services India (Pvt) Ltd, the money transfer company, finds about 60 per cent of its business emerging from rural areas and semi-urban pockets in India, Mr Anil Kapur, Managing Director, said. That is ... More

FOREX
Rupee weakens further
The rupee weakened against the dollar on Wednesday as oil companies bought dollars and due to short covering by banks. The rupee opened at 42.74/75 and closed at 42.80/82, about 20 paise lower than the previous close of 42.61/62. Oil touched a ... More

TECHNICAL ANALYSIS
Rupee pauses at support
The relentless rally in crude prices, that is nudging $130, continued exerting pressure on the rupee. The Indian currency recorded a trough at Rs 42.92 last Friday. However, exporters selling at lower levels aided in retracting the currency ... More

LIFE INSURANCE
IDBI Fortis Life plans more branches
Mumbai, May 21 IDBI Fortis Life Insurance will set up 100 branches by the end of the fiscal, said Mr G.V. Nageswara Rao, Managing Director and Chief Executive Officer.The company, which started operations in March last, currently has 30 ... More

GOVT BONDS
Bond prices fall
Bond prices fell around 25 paise as the price of crude soared. Total traded volumes on the order-matching system were at Rs 3,070 crore (Rs 3,100 crore). Dealers said that there was lack of trading interest. There was caution ahead of the Rs ... More

CREDIT MARKET
SBI withdraws circular, opens tractor loan counter
Move follows opposition from manufacturers, politicians, farm lobby More

SHORT TERM INSTRUMENTS
Call rates unchanged
More

MERGERS & ACQUISITIONS
IFCI takes control of Foremost Factors
New Delhi, May 21 IFCI Ltd has acquired 46.65 per cent shareholding of Mohan Exports Group in Foremost Factors Ltd (FFL) in a transaction valued at about Rs 11.6 crore. With this move, IFCI’s shareholding in FFL has increased to 96.49 ... More

EVENTS
Good response to ‘coin mela’ in Mangalore
Mangalore, May 21 The ‘coin mela’ organised by the Kanara Chamber of Commerce and Industry (KCCI) here on Wednesday evoked good response where nearly Rs 7.5 lakh of small denomination currency coins were distributed in 45 minutes ... More