Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

ComMin wants 3-year I-T waiver for labour-intensive exports
In an attempt to support exporters hit by the ongoing global economic crisis, the commerce ministry has proposed to its finance counterpart to exempt income tax for a period of three years for certain labour-intensive sectors like handicrafts, leather and textiles.

Markets to remain volatile, say analysts
Dalal Street is likely to remain volatile this week as negative global cues would act as a drag on the trading sentiment of investors, analysts say.

News of the day

Bharat Forge: It's part of life
As if last year wasn’t difficult enough, Baba Kalyani has said quite clearly that the current year would remain a challenging one for his company. The chairman and managing director of Bharat Forge believes it could be a while before inventories are cleared and sales revive, especially in the commercial vehicle (CV) space. The auto parts maker, a victim of the severe depression in the world automobile markets, saw consolidated sales rise just under 3 per cent last year to Rs 4,774 crore.
Business Ideas

Dubai crisis not to impact domestic banks: RBI

The Reserve Bank of India (RBI) today said the domestic banks do not have much exposure to the debt-ridden Dubai World and hence their balance sheets will not be materially affected from the crisis. - "No significant impact of Dubai crisis on exports" - UK banks" total exposure to Dubai World debt at $5 bn: report - Asian banks have little exposure to Dubai: Moody"s - Markets in consolidation mode - Dubai crisis to impact India"s specific sectors - Determining the state of art - finally! In the larger context, the rating agency Moody"s also said the ratings of Asian banks are not likely to be downgraded, unless there is a massive restructuring in Dubai. RBI Deputy Governor Usha Thorat said that the crisis will not impact the country"s banking sector as the exposure "is not significant and not a matter of concern...It is not something that materially affects their balance sheets". Moody"s also said Asian banks have relatively small exposure to Dubai and Dubai World companies. "Therefore, no rating actions have been taken on Asian banks as a result of the requested standstill on select Dubai World debt payments. Nor does Moody"s expects that there will be any need of negative rating action on Asian banks at a later date...." So far as the domestic banks are concerned, Bank of Baroda has an exposure of Rs 5,000 crore in Dubai. State Bank of India too had provided Rs 1,500 crore to some UAE companies. Moody"s said, "The Asian banks have billions of dollars of exposures to the UAE entities, but this represents small per cent of their assets. To date, we have found no Asian banks to have sufficiently high levels of exposure to members of Dubai World group to warrant any ratings actions."


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009