The Hindu Business Line : Tuesday, August 28, 2007

INSIGHT
The caboose of global growth
For the last couple of years, we have argued that the US dollar has to collapse, taking with it the US economy down the precipice. Not too many agreed with what we were saying, but these days the objective evidence of our economic argument has ... More

FOREX
Rupee tad firmer
The rupee slightly appreciated against the dollar on Monday tracking the upswing in the domestic stock market. The home currency opened at 40.93/95, going past the psychological mark of 41. It , however, gave up its gains to touch an intra day ... More

SOFTWARE
Satyam tool for banking, oil& gas
Satyam Computer today announced the launch of two composite solutions on SAP for the banking and the oil and gas industry. Both of these have been certified by SAP and are powered by NetWeaver technology. iDecisions is a banking solution packaged ... More

CREDIT RATING
S&P downgrades Tata Power bonds rating
Mumbai, Aug. 27 The corporate credit rating of Tata Power Co. Ltd and its $300 million senior unsecured bonds have been lowered to BB- from BB+ on Friday by Standard and Poor’s Rating Services. The rating is removed from ... More

GOVT BONDS
Bond prices gain 10 paise
Bond prices rose by ten paise and the yields fell by about two basis points on Monday as central bank refrained from selling debt to drain surplus cash from the system. "The Reserve Bank of India said that there will be no issue of dated ... More

RESTRUCTURING
Plans of ICICI Bank, SBI may face RBI hurdle
Regulator not in favour of intermediate holding company model More

SHORT TERM INSTRUMENTS
Call rates lower
The inter-bank call rates closed at 6.10 - 6.15 per cent on Monday against the previous close of 6.30 - 6.40 per cent. In the first reverse repo auction under LAF, RBI received and accepted seven bids for Rs 7,770 crore. There was no repo ... More

MERGERS & ACQUISITIONS
Centurion- LKB merger okayed
Mumbai, Aug. 27 The Reserve Bank of India has sanctioned the scheme of amalgamation of Lord Krishna Bank Ltd with Centurion Bank of Punjab Ltd, said a press release from RBI. The scheme will come into force with effect from August 29. ... More

ALLIANCES & JOINT VENTURES
Syndicate, UAE Exchange in pact
Syndicate Bank has announced it has signed a Memorandum of Understanding with the Abudhabi-based UAE Exchange Centre for extending remittance facility to the non-resident Indians in the region. Mr. C P Swarnkar, Chairman & Managing Director, ... More

EVENTS
Banks told to go the extra mile
Banks can no longer rely on banking alone, if they have to survive in the present competitive age, and it is the value-added, non-banking services, which really attract the customers, according tothe Chairman and Managing Director of Andhra Bank, ... More

PEOPLE
G. K. Raman passes away
Chennai, Aug. 27 G K Raman, former Managing Director of Sundaram Finance Ltd and a highly respected person in the general insurance and NBFC circles, passed away at Puttaparthi today. He was 76.Born on September 9, 1931, Sri G.K. Raman ... More

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