Forex
Back to square one
CONCERNS over Japanese economy have resurfaced again this fortnight. The events are akin to a horror movie in which the hero vanquishes the villain, only to find him rising again from dead. It's ironic that the pall of gloom should happen a few months af ter Bank of Japan showed confidence of a strong recovery and moved away from the zero interest rate policy.

States
States letter of comfort offers little guarantee
MOST securities issued by the State government undertakings are on a structured obligation basis. This is because, barring exceptions, most of the State Public Sector Undertakings are loss making entities with revenues unable to meet even their expenditu re requirements.

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