The News Review:
- Corporation Bank’s forex derivatives exposure at Rs 180 cr
- RBI should come out with clear stand on forex derivatives
- Money supply growth gains on inflow
- Understanding Muqtada al-Sadr: Pepe Escobar Interview w/Patrick…
Corporation Bank’s forex derivatives exposure at Rs 180 cr
Economic Times – Apr 27, 2008
“The notional amount of
the exposure in the derivatives market is Rs 180 crore. Mark-to-market (losses)
is around Rs 20 crore, which is the customers’ burden,” Chairman and Managing
Director B Sambamurthy said
here. The bank has entered into
forex derivatives market on behalf of two large corporates clients who already
have exposure in the market, he
said. There is no possibility
of court cases by the clients who are large business houses, he said, adding “we
are going slow on these exotic instruments and have not entered into any such
contract since September
2006″.
RBI should come out with clear stand on forex derivatives
Hindu – Apr 27, 2008
In addition to ICICI Bank and Axis Bank (formerly UTI Bank), several small and medium enterprises have filed cases in different High Courts against Yes Bank and Kotak Mahindra Bank that are trying to recover losses from the corporates. Although SBI has suffered huge losses, it is not facing court cases from clients. Companies in all these cases are resisting recovery of losses incurred by banks. Pointing out that only a small number of companies have filed court cases with regard to derivatives losses, senior partner of law firm Titus and Co, Diljeet Titus, said “RBI should come out with clean and unambiguous clarification in this regard with retrospective effect in order to ensure than bank-client relationship is maintained.
Money supply growth gains on inflow
Taipei Times – Apr 27, 2008
94 percent in January, the Directorate General of Budget, Accounting and Statistics reported on April 7. To help stem inflation, the central bank has allowed the NT dollar to appreciate gradually since the beginning of the year and raised its benchmark interest rate for the 15th straight quarter on March 28. The NT dollar has seen its value rise 6. 49 percent against the US dollar this year and closed at NT$30. 34 on the Taipei Forex Inc on Friday. The benchmark TAIEX has also advanced 5. 19 percent over the same period and closed at 8,947.
Understanding Muqtada al-Sadr: Pepe Escobar Interview w/Patrick…
OpEdNews – Apr 27, 2008
Hopefully 140000 will make it. MOst of them dragged into Iran serving as Guests. Immense Disadvantage for the US: Hardware lost ,Airspace lost ,Oil Rvenue control lost,Devaluation $$ a fraction of EURO respectively the six Forex. 3) With SEN McCain it will play out with the exact same result , just a few years down the road. Hardware turned over to the Sunni's. Borders will redraw wherever the frontlines bleed themselves to death.