Wednesday, June 30, 2010
The European Central Bank lent banks 131.9 billion euros (USD 161.4 billion) in three-month funds on Wednesday, below expectations, as banks face the repayment of close to half a trillion euros in 12-month funds.
The ECB said 171 banks borrowed funds at a flat rate of 1% in the operation, which was below expectations in a Reuters poll...
Wednesday, June 30, 2010
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US President Barack Obama urged lawmakers to put a price on carbon pollution in a Senate energy bill on Tuesday at a White House meeting that one senator called a "breakthrough" for the legislation.
Senator Joseph Lieberman, an independent who wrote the bill with Democrat John Kerry, said previously-reluctant senators at the meeting...
Tuesday, June 29, 2010
Our investments are heavily affected by inflation. Assume you have opened a bank deposit offering you 6% interest for one year. Now while closing the deposit account, if the inflation is 8%, you actually end up losing 2% (8-6). It means your investment has lost its value. In order to protect the value of your indexation, you have...
Tuesday, June 29, 2010
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A look at the past 15-20 years record, it is seen that Gold is a hedge against inflation. Over the last 20 years, the average return from Gold has been around 7%. So, if the past trend continues, one could expect around say 6-9% returns from gold in the long-term.
For centuries gold has been the ultimate cushion against the dangers...
Bangalore: Mahindra & Mahindra (M&M), the diversified business group with significant interest in automotive and information technology (IT), is looking at setting up an aircraft financing arm in Australia to boost the sale of aircraft being manufactured by Gippsland Aeronautics, which is now part of the Mahindra group.
The...
New Delhi: The popular perception is that companies in India are taking jobs away from Americans but the numbers on the ground tell a different story.
In the last five years alone, 90 Indian companies have created 16,576 jobs in the US by investing $5.5 billion in new companies and saved over 40,000 jobs by making 372 acquisitions and...
Mumbai: ICICI Bank on Monday said it would announce its base rate on June 30. The bank also recommended a dividend of 120 per cent at its annual general meeting (AGM) on Monday.
"We just concluded our annual general meeting which saw all resolutions being passed unanimously. We have recommended a dividend of 120 per cent," Chanda Kochhar,...
Dubai: Essar Steel is reportedly in talks to acquire Egypt's Kandil Steel. The Indian steel giant is believed to have sent feelers to Kandil Steel and is likely to offer a formal proposal to its management in the near future, a business daily report said, without quoting sources.
Essar Steel Middle East, through its subsidiary, had...
Mumbai/New Delhi: Reliance Infratel, the tower arm of Anil Ambani-led Reliance Communications (RCom), today agreed to merge its 50,000-tower portfolio with GTL Infrastructure in a cash and stock deal, making it arguably one of the largest merger and acquisition transactions in India.
Business Standard was the first to report the likelihood...
New Delhi: Africa’s largest mobile service provider MTN Group is in talks with India’s Loop Telecom to purchase a stake in the company, which owns mobile telephony licences in 21 circles.
Loop Telecom has been looking for a strategic investor for some time now and people close to the development said the telecom operator was willing...
Thursday, June 24, 2010
German businesses have shrugged off Europe's debt crisis with corporate optimism in the continent's largest economy rising to its highest level for more than two years.
The Munich-based Ifo institute reported that its business climate index had risen from 101.5 in May to 101.8 this month - the highest level since May 2008.
The unexpected...
Thursday, June 24, 2010
Comments (0)Tuesday, June 22, 2010
But that euphoria was checked as investors took a more considered view on the impact the move would have on economic fundamentals
Hong Kong: Asian stocks retreated on Tuesday as investors booked profits a day after China’s weekend decision to give its currency more flexibility triggered a risk rally.China’s move on the yuan had set off...
Tuesday, June 22, 2010
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Khazanah may extend offer period for Parkway; Fortis has untill 30 July to decide on counterbid; Indian banks will loan Fortis up to $2 bn
Singapore: RiskMetrics, an independent advisory firm, on Monday recommended that Parkway investors approve a proposal allowing a partial takeover bid by Malaysian sovereign wealth fund Khazanah.
The...
Irda intends to raise the life insurance component in Ulips substantially and make it mandatory
Mumbai: Fresh from its victory in the regulatory turf war over unit-linked insurance policies (Ulips), the Insurance Regulatory and Development Authority (Irda) is set to overhaul the norms governing these popular financial products.
Ulips...
The currency issue is likely to feature at the summit of the Group of 20 nations in Canada on 26-27 June, with many expected to seek further clarification from Beijing
Shanghai: China’s surprise move to relax currency controls ahead of this weekend’s G-20 summit buoyed global markets and sent the yuan to a five-year peak on Monday, but...
Thursday, June 17, 2010
Washington: New US claims for jobless aid rose last week while consumer prices notched their largest decline in nearly 1-1/2 years in May, suggesting interest rates will remain ultra low to nurse the fragile economic recovery.
Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 472,000 as manufacturing,...
Thursday, June 17, 2010
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Investors to get 1 share of parent for every 5 held in unit; merger to enhance efficiency, profitability.
Mumbai: India’s top sugar maker Bajaj Hindusthan Ltd said on Thursday its board has approved merging unit Bajaj Hindusthan Sugar with itself.
Shareholders in the unit will get one share of the parent for every five held, it said...
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