The Hindu Business Line : Friday, July 02, 2004

FINANCIAL SERVICES
Doha Bank, Geojit launch wealth management in Qatar
GEOJIT Financial Services Ltd in association with Doha Bank launched India Wealth Management Services for non-resident Indians living in Qatar. The complete wealth management services include equity trading services, mutual funds and investment ... More

INVESTMENTS
Banks await RBI nod for gold investment products
Gold-backed investments offer risk-free savings. A study has shown gold as the second-most preferred saving instrument. More

INSIGHT
Treasury operations to weigh on banks' Q1
TREASURY income, which has boosted banks' profits for the past two years, may have caused a dent on the bottom line of some of them in the first quarter of this financial year. According to analysts, all banks dealing in the debt markets will ... More

Basel II Framework rests on 3-pillared approach
WITH credit culture, both individual and corporate, spreading like the bush-fire, promoting adequate capitalisation of banks and providing improvement in risk management in order to reinforce the stability of the global financial system are never ... More

FOREX
Rupee moves up; bonds unchanged
MUMBAI: The domestic currency appreciated for a second day in a row, closing six paise stronger on Thursday at 45.88/90 per dollar. The improvement in the domestic currency is largely due to the supply of dollars in the early trading hours ... More

STOCKS
Fed rate hike pushes up banking stocks
THE banking stocks on Thursday spurted on major bourses on re-emergence of interest from a section of investors on the back of moderate Fed rate increase. According to brokers and dealers, the market had already discounted 25 basis points rise ... More

FINANCIAL PERFORMANCE
Centurion Bank loss widens on higher provisioning
FOLLOWING higher provisioning, Centurion Bank has posted a net loss of Rs 105.14 crore for the year ended March 2004, compared to a net loss of Rs 25.36 crore in the previous year. The bank made provisions of Rs 117 crore during the year under ... More

LIFE INSURANCE
LIC targets Rs 11,500-cr premium income
THE Life Insurance Corporation of India (LIC) is targeting a premium income of Rs 11,565 crore during the current financial year, from the sale of three crore and ten lakh policies, according to Mr S.B.Mathur, Chairman, LIC. In the current ... More

DEBT MARKET
Debt markets unaffected by Fed rate hike
IT was business as usual for the domestic debt markets on Thursday, which remained largely unaffected by the 25-basis-point hike in the US Fed rate on Wednesday. Dealers said that the rate hike had already been discounted by the market as ... More

FINANCIAL INSTITUTIONS
PFC to charge 7.25% for Nagarjuna group project
THE Power Finance Corporation (PFC) has fixed the lending rates for the 1015 MW power project promoted by the Nagarjuna group at 7.25 per cent. Sources said that the consortium members project debt financing include the Rural Electrification ... More

RIGHTS ISSUE
GIC Housing proposes 1:2 rights issue — Net at Rs 11.11 cr; to pay 15 pc
GIC Housing Finance Ltd plans to go for a rights issue in the ratio of one share for every two shares held. The company's board has approved the proposal but the pricing of the issue and other details are yet to be decided. The board has, ... More