Business Daily from THE HINDU group of publications
Saturday, July 19, 2008
ePaper | Mobile/PDA Version | Audio
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Business Daily from THE HINDU group of publications Saturday, July 19, 2008 ePaper | Mobile/PDA Version | Audio |
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MONEY & BANKING
FINANCIAL PERFORMANCE:
Allahabad Bank’s net profit slips 53%Provisioning for treasury investments weighs down Q1. Kolkata, July 18 Allahabad Bank’s net profit dropped by almost 53 per cent to Rs 93.36 crore for the quarter ended June 30, 2008, down from Rs 200.40 crore in the corresponding ... 
FOREIGN BANKS:
Rabobank launches $100 m PE fundTo focus on food, agri-business sectors in India. New Delhi, July 18 Dutch-based Rabobank on Friday announced the launch of a $100-million private equity fund that would target investment opportunities in food and agri-business sectors in ... 
OUTLOOK:
Difficult times ahead, says Deepak ParekhIDFC sees slowdown in infra growth. Chennai, July 18 Indian economy is “entering into difficult and dangerous times” with high inflation and high cost of funds, Mr Deepak Parekh, Chairman, IDFC Ltd, said ... RBI & OTHER CENTRAL BANKS: RBI moves forex assets to ‘safer’ avenues Mumbai, July 18 The Reserve Bank of India appears to have shifted its foreign currency assets to safer investment ... GENERAL INSURANCE: General insurers bound to deduct tax on interest on compensation: HC Chennai, July 18 General insurance companies engaged in motor vehicle insurance business are bound to deduct income-tax at source (TDS) on interest paid on compensation awarded by Motor Accidents Claims Tribunal in respect of claims under ... OVERSEAS INVESTMENTS: BoB to open 10 new branches overseas Ahmedabad, July 18 Bank of Baroda, the fourth largest public sector bank with a customer base of 30 lakh, will open 10 new branches overseas this year as it completes its centenary on July 20, the Chairman and Managing Director, Mr M.D. ... SOCIETY & DEVELOPMENT: Helping rag-pickers to become entrepreneurs GRAMEEN BANK INITIATIVE. Mangalore, July 18 After bringing rag-pickers under the banking network a year ago, the Dharwad-headquartered Karnataka Vikas Grameen Bank (a regional rural bank sponsored by Syndicate Bank) has now taken a step ... FOREX: Forex reserves up $123 m on revaluation Mumbai, July 18 The foreign exchange reserves rose by $123 million to $308.520 billion for the week ended July 11, according to the figures released by Reserve Bank of India’s Weekly Statistical ... INTEREST RATES: OBC hikes PLR by 50 bps New Delhi, July 18 Oriental Bank of Commerce (OBC) has revised upwards its prime lending rate (PLR) by 50 basis points to 13.75 per cent effective July 15. ... GOVT BONDS: Bond yields fall TRADE & LABOUR UNIONS: Bank unions call for strike on August 20 Coimbatore, July 18 The All India Bank Employees Association (AIBEA) has given a call for an all-India strike on August 20 to press its demands against privatisation attempts in banks, mergers and consolidation, and the unrestricted entry of ... SHORT TERM INSTRUMENTS: Call rates steady FOREX: Rupee gains due to easing of oil prices The rupee appreciated against the US dollar on Friday, for the third day in a row, thanks to the easing of crude oil prices in the global market and gains made by the domestic equity market. The currency opened higher at 42.71/73 and closed at ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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