The News Review:
- Forex - Dollar mixed as rally shows signs of fatigue
- 5 Most Important Events for the Forex Market This Week
- The Telegraph - Calcutta (Kolkata) | Business | Business Briefs
- Weak rupee to boost IT cos’ topline
- ‘Let the rupee appreciate to check inflation’
- Asian currencies decline amid rising oil, inflation
- Daily Times - Leading News Resource of Pakistan
Forex - Dollar mixed as rally shows signs of fatigue
Forbes - May 18, 2008
dollar was trading mixed against major currencies on Monday as investors searched fordirection after a rally last week showed signs of fatigue on Friday when weak data cast doubts on the view the Federal Reserve had finished with its rate-cutting cycle. The rally was spurred by the belief that the Fed was through with monetary easing and would start to tighten by the end of the year. (0030 GMT) the dollar was at 104.
5 Most Important Events for the Forex Market This Week
Daily FX - May 18, 2008
However, traders should also keep an eye on Tuesday’s German ZEW survey of investor sentiment and Thursday’s release of UK retail sales. • German ZEW Survey – May 20Sentiment amongst Germany’s investors is expected to improve slightly in May, according to the ZEW survey. The figure is scheduled to be released at 05:00 EDT, and this release tends to be a significant market-mover for the.
The Telegraph - Calcutta (Kolkata) | Business | Business Briefs
Calcutta Telegraph - May 18, 2008
70 billion for the week ended May 9. The forex reserves had declined for three consecutive weeks before rising again. In the week before, forex reserves fell $371 million to $312. 50 billion, according to the Reserve Bank data. Foreign currency assets during the reporting week increased $200 million to $302.
Weak rupee to boost IT cos’ topline
Economic Times - May 18, 2008
The rupee has depreciated by
6. 76% against the dollar since the be-ginning of this fiscal. The report, authored by Harit
Shah, said India?s biggest IT services exporter, TCS, would top its
revenue guidance for the fiscal by 3. 8% at a conversion rate of Rs 41 and by
6.
‘Let the rupee appreciate to check inflation’
Economic Times - May 18, 2008
For the long term, the
government should opt for starting second green revolution which will be based
on “knowledge agriculture” to step up the agri production in the country, Dhoot
said. There is a critical need
to invest more in rural infrastructure and promote more public investment in
agriculture to reduce demand-supply
gap. Dhoot said that the
current high rate of inflation is due to sharp rise in international prices of
crude oil and the farm products, forex inflows into the country and stagnation
in the country’s foodgrain
production. “Internationally,
the real prices have reached the highest since the mid 1970s,” he said. Quoting the food price index
calculated by Food and Agriculture Organisation of the United Nations, Dhoot
said the prices rose by 40 per cent during 2007 as compared to nine per cent the
year before. Rice was up 227
per cent, wheat by 293 per cent, repeseed oil by 129 per cent, he
said. While, crude palm oil
prices have gone up by 104 per cent, soya bean oil by 111 per cent and crude
sunflower oil by 155 per
cent.
Asian currencies decline amid rising oil, inflation
Taipei Times - May 18, 2008
3713 against the US currency. The New Taiwan dollar was little changed against the US currency this week. The NT dollar gained NT$0. 220 from Thursday to close at NT$30. 660 against the greenback on Friday, according to Taipei Forex Inc. Elsewhere, the Indonesian rupiah fell 0. 6 percent in the week to 9,290, the Philippine peso declined 0.
Daily Times - Leading News Resource of Pakistan
Daily Times - May 18, 2008
The Lahore High Court had remanded the case for retrial to give an opportunity to the dependents of the accused in whose name he had allegedly accumulated illegal assets. Rauf International An accountability court will indict Dr Haroon, the chief executive of a forex company Rauf International, and others on December 13. The court gave copies of reference to Dr Haroon, his wife Mehreen Haroon, a visiting lecturer of the National College of Arts, and father Dr Bashir Ahmad. They are accused of misappropriating Rs 46 million from investors. Khyber Tractors One prosecution witness testified against former Khyber Tractors Private Limited officials Khalid Sharif, Asif Sharif and Hammad Khalid before proceedings were adjourned until December 9. The National Accountability Bureau (NAB) alleges that the accused defrauded the public in their tractor sale scheme.