Business Daily from THE HINDU group of publications
Tuesday, September 16, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, September 16, 2008 ePaper | Mobile/PDA Version | Audio |
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MONEY & BANKING INVESTMENT BANKING: Lehman Brothers files for bankruptcy Lehman Brothers Holdings Inc today filed for bankruptcy protection, making it the largest casualty of the global credit crisis, and given its assets at the time of filing, Lehman surpassed WorldCom as the biggest U.S. Bankruptcy filing till ... MERGERS & ACQUISITIONS: BankAm to buy Merrill Lynch for $ 50 billion Merrill Lynch & Co. agreed late on Sunday to sell itself to Bank of America Corp for roughly $50 ... FOREX: Rupee falls to below 46; bonds gain Mumbai, Sept. 15 As news of Lehman Brothers’ filing for bankruptcy sent the stock markets into a churn, the rupee breached the 46- level against the dollar on Monday, for the first time in two years. Widening arbitrage in the ... GOVT BONDS: Oil cos strapped for cash No bond issue since March despite rising subsidy overdues. Bangalore, Sept. 15 With the delay in allocation of subsidy bonds this year, oil companies are once again strapped ... EVENTS: ‘Commercial banks should address inclusion issue’ Provide extension services, including advice on agri activities. New Delhi, Sept. 15 Former Reserve Bank of India Governor, Dr C. Rangarajan, on Monday suggested that rural branches of commercial banks must go beyond providing credit and give ... PRIVATE BANKS: SIB launches group savings scheme South Indian Bank has launched the ‘Group Salary Savings Account’ (GSSA) for the salaried class. Dr V.A. Joseph, Chairman and Chief Executive Officer of South Indian Bank said the product was designed for both employers and ... FOREIGN BANKS: ‘Exposure to Lehman limited’ UniCredit, Italy’s biggest bank by market value, has very limited exposure to Lehman Brothers, the US investment bank that has filed for bankruptcy protection, UniCredit’s CEO said on Monday. “The exposure of UniCredit group ... FIXED DEPOSITS: KVB hikes deposit rates Karur Vysya Bank Ltd has increased the interest on domestic term deposits effective from today. According to Mr P.T. Kuppuswamy, Managing Director and Chief Executive Officer, the rates have been increased from 25 to 75 basis points for various ... SOCIETY & DEVELOPMENT: SBI, Patna circle gesture State Bank of India, Patna Circle, has donated Rs 2 crore to Bihar Chief Minister’s Relief Fund for providing relief to the people affected by the recent Kosi river flood. Mr A. Krishna Kumar, Chief General Manager, and Mr Samir Saran, ... SHORT TERM INSTRUMENTS: Call rate closes higher The inter-bank call rate closed higher at 10.50-10.60 per cent, against the previous close of 9.80-10.00 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 41 bids worth Rs 51,815 ... FINANCIAL SERVICES: Morgan Stanley enters wealth management biz Mumbai, Sept. 15 Morgan Stanley on Monday announced the commencement of its private wealth management business in India. It would offer investment products and services to high and ultra-high networth individuals from Mumbai, Kolkata, New ... CO-OPERATIVES: Shamrao Vithal in talks to acquire AP-based co-op bank Mumbai, Sept. 15 Mumbai-based Shamrao Vithal Co-operative Bank (SVCB) is planning to acquire an Andhra Pradesh-based cooperative bank, Mr Suresh S. Hemmady, the bank’s ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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