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Top Stories |
PM confident of 9-10 per cent growth in two years
Expressing confidence that the country will return to 9-10 per cent economic growth within a couple of years, Prime Minister Dr Manmohan Singh invited the Indian diaspora to participate in the development of the country of their origin. Inaugurating the Pravasi Bhartiya Diwas celebrations, he pointed out that infrastructure, agriculture, health and education were the key priorities for the second term of his government.
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Indian Financial Institutions |
SBT's online fund transfer facility
State Bank of Travancore (SBT) has introduced ‘SBT Xpress Remit' online fund transfer facility. Xpress Remit enables speed transfer of funds from the US and the UK. The product has been designed in association with SBI Global Link Services.
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Products & Alliances |
Harley-Davidson, ICICI Bank tie up
Harley-Davidson India and ICICI Bank inked an MoU for a broad spectrum of banking services. Motorcycle enthusiasts will be able to avail themselves of ICICI Bank's financing options to buy Harley-Davidson products. The financing options will be for up to 85 per cent of the product value for five years at an interest rate of 11 per cent.
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Insurance |
Several insurers fall short of obligations: IRDA
Two non-life insurers, Cholamandalam MS General Insurance and Star Health Allied Insurance, fell short of meeting the stipulated solvency ratio, according to the Insurance Regulatory Development Authority (IRDA). Life Insurance Corporation of India (LIC) and HDFC Standard Life Insurance failed to meet their rural sector obligations during the year under consideration while Bharti Axa General Insurance and Apollo DKV Health Insurance failed to meet their social sector obligation, IRDA said.
Life insurers' losses mount 43 per cent in FY09
The life insurance industry posted a loss of Rs 4,878 crore in the financial year 2008-09, as against a loss of Rs 3,413 crore in 2007-08, according to data released by the Insurance Regulatory and Development Authority (IRDA) in its annual report. Losses incurred by the industry were 43 per cent higher as compared to the earlier fiscal.
Good returns likely even without stimulus: Bajaj Allianz
This year is expected to yield good returns from both equity and bond markets even if the economic stimulus packages are withdrawn, says Mr Sashi Krishnan, Chief Investment Officer, Bajaj Allianz Life Insurance Co. The bailout package in India constituted only 1 per cent of the GDP, which was much less than what it was in other countries, he pointed out.
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Book Review |
Profit Power Economics
The ideas of Mia de Kuijper, author of this book are steeped both in academics and the corporation world. Critical to her exposition is the notion of “profit power,” which is derived from “power nodes.” She has identified 12 such nodes. Profit power flows from holding on to proprietary assets and internalising them. The book attempts to ride two horses — economic theory and management guide.
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8.1.2010
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| Currency |
Rate (Rs.) |
Change |
| USD |
45.80 |
0.07 |
| Euro |
65.56 |
0.38 |
| GBP |
73.06 |
0.20 |
| Yen (100) |
49.07 |
0.69 |
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8.1.2010 16.00
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Index |
Change |
| NIFTY |
5244.75 |
-18.35 |
| SENSEX |
17540.29 |
-75.43 |
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Market Updates |
Sensex ends 75 points down
The Bombay Stock Exchange benchmark Sensex ended the session on Friday down by 75.43 points at 17,540.29 in a volatile trade due to profit-booking and heavy selling in IT and Teck stocks. The Nifty closed the session down by 18.35 points at 5,244.75.
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