The Hindu Business Line : Saturday, December 29, 2007

US Fed needs global watch
After the Cold War ended, the US promoted globalisation in a big way. It opened its markets, cut tariffs and promoted cheap imports. The Fed also cut rates and printed more dollars. It thus promoted a global financial architecture by which an unwritt en ‘safety rule’ has been enforced on central banks of other nations to hold their reserves in US securities. This structure is clearly unsustainable, argues S. GURUMURTHY. More

FOREX
Forex reserves fall $232 m
Mumbai, Dec 28 The country’s forex reserves fell by $232 million to $272.722 billion for the week ended December 28, 2007 on revaluation of currency assets. The reserves had fallen by $599 million to $272.954 billion for the week ended ... More

Rupee weakens on global trends
More

YEAR ENDER
BPO sector feels the heat of rupee rise, US sub-prime crisis
Challenges like attrition, wage inflation continue to haunt the industry More

HUMAN RESOURCES
Banking institute signs pact with college
Coimbatore, Dec 28 The Indian Institute of Banking and Finance, Mumbai has signed a pact with the Sri Krishna Arts and Science College here to train students pursuing their UG programme set up career path in banking services.“The ... More

PUBLIC SECTOR BANKS
Bank of Maharashtra to launch Net banking
The Pune-based Bank of Maharashtra is planning to provide Internet banking for its customers in January. The bank has already made a soft launch of this facility and the formal launch is likely to be announced next month. Mr M.D. ... More

FOREIGN BANKS
StanChart not going ahead with unit sale to UBS
Standard Chartered Plc said on Friday that its subsidiary Standard Chartered Bank will not proceed with the planned sale of its India fund management business to UBS AG. “The sale and purchase agreement that was signed with UBS ... More

GOVT BONDS
Bond prices rise, yields fall
More

SHORT TERM INSTRUMENTS
Call rates stay unchanged
The inter-bank call rates closed at 7.50-7.70 per cent on Friday, unchanged from the previous close. In the three-day repo auction, under the Liquidity Adjustment Facility, the Reserve Bank of India received and accepted 24 bids for Rs 33,865 ... More

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Cross Currency Rates

P-Note blues

Union Budget 2007-08

Railway Budget 2007-2008

Economic Survey 2006-2007

Other Top Stories
GHCL sets up global sourcing arm for textiles

Kinetic SYM Flyte launched in Mumbai

StanChart not going ahead with unit sale to UBS

High crude prices haunt oil sector in 2007

Pharma sector's mixed bag of fortunes

A year of airlines consolidation

Tax bouncer from Down Under

Amul milk procurement crosses 100 lakh kg per day

Looking back
Dec. 16-Dec. 22
RBI tells exporters to guard against strong rupee

Changing patterns in global fund flows

Bonds firm on FII profit-taking, drawdown on credit by refiners

Encashment norms for joint term deposit holders eased

US capital outflows fall 66% in July-Sept

India Infrastructure gets tax sops

World Gold Council tying up with micro finance institutions