The News Review:

- Forex – Dollar pushed back lower on weak US data, ECB’s Weber…
- Forex – US dollar mixed in Sydney morning trade after gaining…
- Sulzer Q1 orders beat forecasts; strong demand, forex effect to…
- Somalia: Mogadishu’s Main Forex Stalls Reopened
- FOREX:Ringgit Hits New High Of 3.14 Against US Dollar
- PSU banks may post poor result in Q4; pvt sector may do better
- Analyst Actions: IBM, Omniture, Polycom

Forex – Dollar pushed back lower on weak US data, ECB’s Weber…
Forbes – Apr 17, 2008
data and hawkish comments on inflation by a European Central Bank official. The Philly Fed’s manufacturing index of current business activity unexpectedly declined to -24. 9 in April from -17.

Forex – US dollar mixed in Sydney morning trade after gaining…
Forbes – Apr 17, 2008
(0025 GMT) the dollar was at 102. 44 yen, compared with 102.

Sulzer Q1 orders beat forecasts; strong demand, forex effect to…
Forbes – Apr 17, 2008
135 billion Swiss francs, up 11. 1 percent year on year, driven by growth in its pumps division as well as a favourable currency impact. Analysts surveyed by Thomson Financial News had forecast sales to reach 1.

Somalia: Mogadishu’s Main Forex Stalls Reopened
AllAfrica.com – Apr 17, 2008
The bureaus closed two days ago after an anonymous note dropped at the market last Sunday ordered those dealing in foreign exchange to fix the exchange rate at $100 to 1,500,000 Somali shillings; it said they should also accept mutilated local currency. GA_googleFillSlot(”AllAfrica_Story_Inset”);The warning came at a time when the 3,000,000 Somali shillings were exchanging for $100, and forex bureaus were not accepting damaged local currency. The note warned that anybody who disobeyed the orders would pay the price. It said lowering the exchange rate and taking damaged local currency would help the poor and provide relief against soaring inflation and high prices, especially of foodstuffs.

FOREX:Ringgit Hits New High Of 3.14 Against US Dollar
Bernama – Apr 17, 2008
00 mark against the U. dollar by year-end pushed the ringgit to touch a new 10-year high level of 3.

PSU banks may post poor result in Q4; pvt sector may do better
Economic Times – Apr 17, 2008
In
addition, the public sector banks will face pressure on their net interest
margin (NIM) due to the prime lending rate (PLR) cuts announced in February. Many leading banks including
State Bank of India, PNB and Canara Bank lowered their Prime lending rate by 50
basis points with a view to stimulating the credit demand. Besides, there is a potential
risk of losses on forex derivatives. Private bank stocks have been
reeling under the negative news flows regarding the forex derivative sales and
subsequent legal suits filed against them by small corporates. The Mark to Market (MTM)
losses in the system are estimated to be in the range of $3-5 billion. Private
banks maintain that the problem accounts are small in size and will have limited
impact.

Analyst Actions: IBM, Omniture, Polycom
BusinessWeek – Apr 17, 2008
48 estimate and $1. He notes forex only benefits revenue, not EPS. more than holding its own and bookings are solid.