NATIONAL 12k of a new kind; FII influence waning on bourses Bulls of the Dalal Street once again managed to breach the 12,000 mark today, but the latest drive to this once-beaten milestone had less of foreign support that the Indian equity market has been getting through FII inflows.
Reliance applies for 3G spectrum In GSM services Even before the real 3G mobile services takes off, competition at the trial level is hotting up with Reliance Communications applying for the radio waves for testing of interface for both GSM and CDMA based services.
Sensex regains four-month-high of 12,000 pts The Bombay Stock Exchange benchmark, Sensex, regained a four-month-high level of 12,000 points in afternoon trading as agressive funds continued their buying in blue-chip stocks.
Sensex gains by 97 points during morning trade The stock market continued its upward momentum and inched a little more toward the psychological 12,000 mark for the third straight session today (Sept 14, 2006) with the Bombay Stock Exchange benchmark, Sensex, rising by over 97 points in early trading on funds and retailers buying.
State Government miffed over RBI policy on UWB The State Government is not very happy with the Reserve Bank of India's decision to merge the United Western Bank (UWB) with the Industrial Development Bank of India (IDBI) stating it would affect the Maharashtrian character of the bank.
INTERNATIONAL ADB launches $10 bn Asian currency note programme The Asian Development Bank (ADB) on today (Sept 14,2006)launched a $10 billion Asian currency note programme that would serve as the first regional platform dedicated to issuances of bonds in regional currencies.
"The programme is Asia's first multi-currency bond platform since the 1997 Asian financial crisis that links the domestic capital markets of Singapore and Hong Kong, as well as later Malaysia and Thailand," the Manila-based ADB said.
"Under the scheme, Asian currency bonds are issued in their domestic markets under a single unified framework with a common set of documents governed by English law," the bank said.
For the programme's inaugural issue, ADB said it was floating 300 million Singapore dollars of five-year notes and 1-billion Hong Kong dollars of three-year notes to be printed before the end of the week.
ADB said it also plans to issue 6.5 billion baht of five-year and 10-year bonds shortly once approvals are obtained.
"The programme is a significant milestone for Asian capital market development and for ADB," ADB Vice President Khempheng Pholsena said.
Oil prices higher in Asian trade after picking up "Oil prices were higher in Asian trade today (Sept 14, 2006), picking up after the market consolidated near multi-month lows in recent sessions," dealers said.
