Saturday, 13 August 2011 18:54
Posted by Muhammad Iqbal
NEW DELHI: State Bank of India expects a stronger second quarter after provisions for sour loans coupled with treasury losses led to a second straight drop in quarterly profit for the country's top lender.
SBI, which with its associates controls about a quarter of Indian bank loans and deposits, has been aggressively making provisions in recent quarters, as its Chairman Pratip Chaudhuri has vowed to clean up its balance sheet since he took over in April.
SBI ...
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SYDNEY: Insurance Australia Group said China's Bohai Property Insurance was on track to make operating profits by financial year 2014.
IAG earlier said it will buy a 20 percent stake in Bohai for around $107 million to make its foray into China.
Copyright Reuters, 2011
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NEW DELHI: State Bank of India expects a stronger second quarter after provisions for sour loans coupled with treasury losses led to a second straight drop in quarterly profit for the country's top lender.
SBI, which with its associates controls about a quarter of Indian bank loans and deposits, has been aggressively making provisions in recent quarters, as its Chairman Pratip Chaudhuri has vowed to clean up its balance sheet since he took over in April.
SBI ...
NEW YORK: Benchmark US Treasuries ended Friday with the largest one-week gain in two-and-a-half years as hopes over the economy sank and investors speculated a new round of federal stimulus was likely.
Ten-year note yields plunged 30 basis points this week and at one point tested their record lows set in December 2008, as investors flooded the market as one of the few remaining safe havens even after losing its top credit rating by Standard & ...
TOKYO: Japanese government bond futures inched up on Friday, supported by bargain hunting around the key 142 line, but superlongs underperformed the market on expectations that increased debt sales to finance post-quake rebuilding will push up JGB yields.
September 10-year JGB futures edged up 0.08 point to 142.20 by the midday break. The lead contract earlier fell as low as 141.93, which is just above the 20-day moving average of 141.90. Market participants say this level ...
WASHINGTON: The Investment Company Institute on Thursday issued the following money market mutual fund assets report:
"Total money market mutual fund assets increased by $52.78 billion to $2.621 trillion for the week ended Wednesday, August 10, the Investment Company Institute reported today. Taxable government funds increased by $38.29 billion, taxable non-government funds increased by $18.19 billion, and tax-exempt funds decreased by $3.71 billion.
Retail: Assets of retail money market funds increased by $11.74 billion to $942.58 billion. ...
LUXEMBOURG: The European Central Bank (ECB) will keep buying Italian, Spanish and other stressed eurozone government bonds until a new financial rescue system is ready to take over, a top official said Thursday.
"As soon as the European Financial Stability Facility receives the means it has been promised, then there will be no reason for the ECB to be in the market," Central Bank of Luxembourg governor Yves Mersch said in an interview released by his ...
