The Indian rupee today depreciated by 10 paise to 47.06 against the US dollar in early trade, largely on fears of fresh capital outflows by foreign funds as market is expected to open weak in line with bearish trend in Asian equity markets.

Re down 10 paise in early trade, at 47.06/$

Press Trust of India

The Reserve Bank of India (RBI) today said that it had concluded the purchase of 200 tonnes of gold from the International Monetary Fund (IMF), under the IMF&rsquo;s limited gold sales programme.

RBI purchases 200 tonnes gold from IMF

Business Standard

Swiss banking giant UBS has reported a loss of 564 million Swiss francs for the third quarter of this year, dragged by substantial accounting charges of 2.15 billion Swiss francs.

UBS posts Q3 loss of 564 mn Swiss francs

Australia's central bank today raised interest rates by a widely-tipped 25 basis points for a second successive month to 3.5 per cent, citing strong growth in China and better prospects across Asia.

Australia raises rates for second month in a row

Kerala-based Federal Bank recorded a 30.16 per cent increase in net profit for the first half year at Rs 237.45 crore over Rs 182.43 crore recorded for the first half of last fiscal.

Federal Bank profit up 30% in H1

Bailed out British banking majors Lloyds Banking Group and the Royal Bank of Scotland (RBS) have agreed to sell part of their businesses, a move that will bring down their dependence on taxpayers' money.

Lloyds, RBS to sell assets to cap reliance on govt funds

To cash in on its huge branch network and client base, State Bank of India (SBI) is all set to start wealth management business and financial planning services.

SBI to foray into wealth management business

The Reserve Bank of India (RBI) today came out with draft guidelines to regulate the issuance of non-convertible debentures (NCDs) with a maturity of less than a year by companies.

RBI issues draft norms on non-convertible debentures

The International Finance Corporation (IFC), a member of the World Bank group, will work with the Andhra Pradesh government to enable three public hospitals in Kurnool, Vishakhapatnam, and Warangal to offer advanced diagnostics services like dialysis to low and middle income people.

IFC to promote PPP in healthcare

Ikya Human Capital Solutions, the Bangalore-based HR services firm, is likely to be a target for global HR firms planning to set up shop in India.

Staffing firm Ikya could be acquisition target

Central banks plan to raise gold holdings in view of dollar&rsquo;s fall.

RBI buys 200 tn gold from IMF

Gross non-performing assets up 23% in 12 months.

Listed banks' bad debt rises by Rs 4,000 cr

Australia raised its benchmark interest rate by a quarter percentage point for the second straight month, becoming the only nation to increase borrowing costs twice this year as the global economy recovers.

Australia raises benchmark interest rate to 3.5%

SBI had introduced its Happy Home loan scheme, that allowed the borrower to freeze the eight per cent interest rate for a year, in February this year.

SBI to close its 8% home loan scheme after this week

The extra yield investors demand to own Asian speculative-grade corporate bonds instead of government debt may increase by as much as 1 percentage point amid a surge in new issues, according to Nomura Holdings Inc.

Asia junk bond spreads may widen on surge in sales

The bonds will help economies get cheaper insurance against natural disasters.

World Bank launches catastrophe bonds for emerging countries

After venturing into the private equity (PE) space earlier through a joint venture, financial services provider Religare is now planning to go solo.

Religare plans $500-million pan-Asia fund

Loan syndication by banks for Indian firms in the domestic and overseas market has already reached a total of $38.5 billion (Rs 1,77,110 crore) through 108 deals in 2009 so far--a 17 per cent growth over the comparable period last year, according to a report by global deal tracking firm Dealogic.

Indian loan syndications reach record high

Cincinnati-based high-tech investment group, Vora Ventures, which runs its Indian operations from Ahmedabad, announced a strategic investment in cFIRST a leading background verification company. Involved in management and ownership of 11 technology companies world-wide, Vora Ventures will be benefited by cFIRST in terms of scale, financial back up, strategic advice and management capabilities.

Vora Venture offers strategic investment in cFIRST

Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc will receive 31.3 billion pounds ($51 billion) in a second bailout from the UK taxpayer as the two banks agreed to cap bonuses.

RBS, Lloyds get $51 bn in second bank bailout

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