The Hindu Business Line : Wednesday, July 13, 2005

Infosys may start hedging euro earnings
HIT by an appreciating rupee against the euro, Infosys Technologies is expected to start hedging its euro-denominated earnings. "We are looking at it seriously," said Mr T.V. Mohandas Pai, Chief Financial Officer, Infosys. The loss of revenues ... More

Exporters facing risk of unhedged euro exposure
WITH the euro depreciating against the rupee, commodity and diamond exporters to European destinations face the prospect of reduced earnings. Since 2003, exporters to Europe have been invoicing their shipments in euros instead of dollars. The ... More

Rupee gains; gilts listless
MUMBAI: The spot rupee gained against the dollar on Tuesday, tracking trends overseas. The rupee opened at 43.51/53 and touched a high of 43.4905, before closing at 43.5350, against Monday's close of 43.56/57. The forward premia market ... More

NBFCS

HSBC group to invest $50.6 m more in India
THE HSBC group would be pumping in $50.55 million into its India operations. The company would be setting up a wholly owned non-banking financial company (NBFC) and increase its holding in two subsidiary companies from the existing 75 per cent to ... More

CREDIT RATING

SSI clients of UCO Bank to be rated by Crisil soon
THE rating scheme devised by the NSCI-Crisil combine will now cover borrowers operating in the small-scale sector being assisted by UCO Bank. An MoU to rate the Kolkata-based bank's SSI clients under the scheme will be signed between the bank ... More

PRIVATE BANKS

ING Vysya plans to launch private banking in Pune
ING Vysya Bank is all set to kick off private banking operations in Pune and is planning to set up an office within a few months to offer wealth management services to high net worth individuals. The bank, which has a portfolio of an estimated ... More

PUBLIC SECTOR BANKS

Mobile top-up at 500 ATMs of Oriental Bank
ORIENTAL Bank of Commerce (OBC) has launched mobile recharge facilities at its 500 ATMs. Customers can now recharge prepaid mobile connections of all operators, including Airtel, Hutch, Idea, Reliance India Mobile, Tata Indicom, BSNL_Excel, ... More

FINANCIAL INSTITUTIONS

IDFC offers to refinance SEB dues to PFC\REC
But says discoms must be privatised
INFRASTRUCTURE Development Finance Company Ltd (IDFC) has offered to refinance the dues of State electricity boards and corporations to Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) Ltd. IDFC officials said they ... More

MONETARY POLICY

Beginnings of an independent central bank
A committee of `wise' men will advise on monetary policy, the RBI announced last week. It has been a considerable time coming. The FOMC, which is charged with the responsibility of determining US interest rates, has been around for as long as ... More

TRADE & LABOUR UNIONS

`Collective bargaining key to protect labour interests'
COLLECTIVE bargaining will continue to be the ideal tool for protecting labour interests in the banking sector despite trade unions having diluted much of their posturing in recent times. "Today, the unions have taken a pragmatic stand. They ... More

IPOS

Yes Bank lists at 44 pc premium
THE shares of Yes Bank Ltd traded at a premium of 44 per cent over the issue price on the first day of listing on the Bombay Stock Exchange. The stock opened at Rs 65 against the issue price of Rs 45 per share. On the NSE, it opened at Rs ... More

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