The World Bank lowered its outlook for growth next year in China and across East Asia, urging officials in the region to curb inflation and ward off asset bubbles to avoid a repeat of the Asian financial crisis.

World Bank warns of Asia bubbles

Business Standard

Bank of America Corp, the largest US lender, reported a $7.3 billion loss tied to the cost of new federal rules on consumer accounts and credit cards. The shares fell 2 per cent in early trading.

BofA posts $7.3-bn loss

DBS Bank India today said that it has increased its base rate by 0.25 per cent from 7 per cent to 7.25 per cent.

DBS raises its base rate by 0.25% to 7.25%

Press Trust of India

Axis Mutual Fund today launched its new open-ended exchange-traded fund, Axis Gold ETF, focused on gold-related investment and derivatives.

Axis MF launches new exchange traded gold fund

UK-based Standard Chartered, the first foreign entity to be listed in the country, today said its Indian Depository Receipt (IDR) holders are eligible to participate in the bank's forthcoming $5.3 billion rights issue.

IDR holders also eligible for rights issue: StanChart

Bajaj Group&rsquo;s Financial services arm Bajaj Finserv reported a nearly 57 per cent jump in its consolidated net profit at Rs 69 crore, for the quarter ended September 30, over the same period last year. The company had a net profit of Rs 44 crore in July-September quarter last financial year. The total income of the company rose to Rs 464 crore in the second quarter of the current financial year compared to Rs 107 crore in the corresponding period.

Bajaj Finserv net up 57% at Rs 69 cr

High court asks state to explain terms in ordinance.

MFI activities in AP come to a halt

The country&rsquo;s biggest lender, State Bank of India (SBI), announced a token increase in its base rate, softening the blow of an increase in cost of funds for its new borrowers.

SBI limits base rate increase to 10 bps

Rates may harden on rising costs; tight liquidity likely to continue for a while.

Refinance for home loan issuers rises four-fold in first half

Owing to higher growth in core earnings, public sector Canara Bank posted a net profit of Rs 1007.88 crore for the quarter ended September, a 10.7 per cent rise from Rs 910.52 crore in the corresponding period last year.

Canara Bank profit up 10%

Thrissur-based Manappuram General Finance and Leasing Ltd reported three-fold increase in net profit at Rs 60.18 crore for the quarter ended September 30, compared to Rs 18.46 crore in the corresponding period of last year. The rise in profits came on the back of robust growth in the company's assets under management which touched Rs 4,955.8 crore as of September 30, according to a company release. The company's operating income stood at Rs 243.19 crore in the reporting quarter.

Manappuram Q2 net rises three-fold

Kotak Mahindra Bank onWednesday said it had a 21 per cent rise in consolidated net profit to Rs 364 crore for the quarter ended September 30, compared with Rs 300 crore in the same period a year earlier.

Kotak Mahindra net rises 21%

SKS Microfinance, which went public recently, could not recover around Rs 1,400 crore this week.

Thanks to Ordinance, SKS loses Rs 1,400 crore in Andhra

Crisil reports the highest number of upgrades in any six months in its history. Two credit assessors today certified India&rsquo;s corporate sector as healthy and vibrant. Crisil Ltd, a unit of Standard &amp; Poor&rsquo;s, said it reported the highest number of upgrades in any six months in its history. Icra, partly owned by Moody&rsquo;s Investors Service, noted improvement in operating environment.

Crisil, Icra report sharp rise in corporate sector upgrades

Insurance companies may get another opportunity to shore up their capital base through Tier-II capital, while initial public offer (IPO) guidelines for insurers are likely to be out soon.

Insurers may get to raise Tier-II capital

In selling 30-year bonds at yields lower than US companies with comparable debt ratings, Reliance Industries Ltd (RIL) shows how investor perceptions of India&rsquo;s corporations have turned around in two years.

Reliance bonds yield less than Mattel on gas hunt

The Bombay High Court has given the Reserve Bank of India (RBI) till February-end next year to decide on the transfer of shares of Tamilnad Mercantile Bank Ltd (TMB).

Decide on TMB share transfers by Feb-end,  Bombay HC tells RBI

Bangalore-headquartered public sector lender Canara Bank is planning to enter the United States through acquisition of a small bank. The move is aimed at increasing its global footprint.

Canara Bank looks at acquisition to enter US

Public sector lender Corporation Bank has clocked a 21 per cent increase in its net profit at Rs 351.73 crore for the September quarter on the back of a healthy rise in interest income.

Corp Bank Q2 net jumps 21% to Rs 352 cr

South Indian Bank (SIB) today said it clocked its highest-ever quarterly net profit of Rs 77 crore in the second quarter of the current fiscal, as compared to Rs 72.56 crore in the year-ago period.

South Indian Bank posts Rs 77 cr profit in Q2

As the Group of 20 (G-20) nations meet in Seoul, South Korea, this weekend to hammer out differences on exchange rates and the potential currency wars, bankers and analysts in India do not seem in favour of imposing restrictions on inflows or joining currency wars in any manner.

Rising rupee: Analysts make case for letting things be

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2532 - Finance News