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UN must change and reflect contemporary reality: Krishna
Noting that the global order has changed dramatically since the establishment of the United Nations some 65 years ago, External Affairs Minister S M Krishna has asserted that the world body should also change and reflect the contemporary reality. generic levitra

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Indian ADRs lose $4 bn in a week
Indian stocks trading on American bourses lost $3.85 billion (around Rs 18,000 crore) from their total market valuation last week, with HDFC Bank and Sterlite Industries leading the pack.

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Hello commerce
Anand Sharma, Union minister for commerce and industry, must have got used to people addressing him in various ways. But Minister of State for Railways E Ahmed stunned him last week when he was about to enter Parliament. Ahmed was talking to someone outside gate number 4 when Sharma stepped out of the car. “Hello commerce, hello commerce,” Ahmed called Sharma. Sharma acknowledged the joke and responded with a warm smile.
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Bond yield may rise further

The yield on government bonds may continue to move up, on apprehension that Reserve Bank of India (RBI) may harden the monetary policy stance soon to manage inflationary expectations. - Sunil Jain: The great Bhopal whitewash">Sunil Jain: The great Bhopal whitewash - Analysts" corner - Gold rally takes a breather - No Impact of Dubai crisis on India: Zoellick - Bhopal pants amid apathy - RBI hints at phased end to easy money The prices of bonds may fall sharply if fears of tight monetary policy persist, dealers said. On Friday, the G-Sec market fell sharply by 30-50 paise, amid rumours that the central bank may raise the reserve requirement.The benchmark 10-year 6.90 per cent 2019 paper closed at Rs 96.10, implying a yield of 7.47 per cent. Yield had closed at 7.19 per cent last Friday (November 27). The Centre and 19 state governments have lined up bond auction plans to raise Rs 28,500 crore from the market next week. The government, after raising Rs 10,000 crore on December 4, will again tap the market on December 11, to raise Rs 10,000 crore again through bond sale. Call rate may remain soft The interest rates in inter-bank overnight lending market are expected to remain soft on comfortable liquidity in the system. The overnight call rates moved between 3.10-3.35 per cent. On Friday, the absorption by RBI under Reverse Repo operation fell sharply to Rs 63,080 crore from Rs 1,25,920 crore yesterday. It did not infuse any amount under repo operation. Rupee to remain range-bound The rupee may move in a range, tracking trends in flow of capital in the stock market and fluctuation in the value of the dollar in global currency market. On Friday, the rupee weakened considerably, to close at Rs 46.30 against the dollar. The forward premium rates eased over previous day’s levels. The six-month forward premium was 2.79 per cent. The portfolio inflows, mostly from foreign institutional investors, of more than $19 billion have helped the rupee rise more than 13 per cent this year from a record low of 52.2 in early March 2009. In the currency futures market rupee contract for December 29 was priced at 46.34 in last trade.


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