May 4: Hero Honda profit dips
May 4: Hero Honda profit dips
RBI Governor Duvvuri Subbarao attends the monetary policy review meeting in Mumbai
The RBI chief Duvvuri Subbarao said on Wednesday it has not widened the rate corridor.
The RBI needs to watch the liquidity situation for the next three to four months before deciding to adjust the cash reserve ratio (CRR), its chief Duvvuri Subbarao said on Wednesday.
He was speaking to analysts a day after the central bank had stepped up its fight against stubbornly high inflation, raising interest rates by 50 basis points and vowing to battle price pressures even at the cost of some economic growth.
Employees work in an assembly line at Hero Honda's newly inaugurated plant in Haridwar
Largest two-wheeler maker Hero Honda today reported a 16.23% decline in its net profit for the quarter ended March 31, 2011, to Rs 501.61 cr.
The company had posted a net profit of Rs 598.81 cr in the corresponding quarter of 2009-10, Hero Honda said in a statement.
Total net operating income during the fourth quarter of the last fiscal increased by 30.77% to Rs 5,390.93 cr from Rs 4,122.32 cr in the same period previous fiscal, it added.
A BMW logo is seen on a displayed car on media day at the Paris Mondial de l'Automobile
BMW beat expectations in the first quarter on the back of continued strong demand for luxury cars in China and growth in the United States.
The company said it still aims to sell more than 1.5 million cars this year and post higher earnings than in 2010.
BMW, which also owns the Rolls-Royce and Mini brands, said on Wednesday its operating profit rose more than fourfold to 1.90 billion euros ($2.8 billion), exceeding the average analyst estimate of 1.51 billion in a Reuters poll.
The strong results echo rivals Volkswagen and Daimler whose sales growth was fuelled by demand for cars in emerging markets such as China.
People burn a photograph of Al Qaeda leader Osama bin Laden as they celebrate his death, in Ahmedabad
Osama bin Laden's demise is unlikely to lead to an influx of terrorist funds into Western banks but the threat of retaliation means that banks need to remain extremely vigilant, according to regulatory experts. Industry figures believe the demise of the Al Qaeda chief has highlighted the importance of the sanctions and of the politically exposed persons (PEPs) regime.
Zia Ullah, a partner at Pannone in the UK, said that recent events should not prevent firms from continuing to screen bin Laden's name against EU and US sanctions lists. "People aren't going to stop screening the name because they won't want to have any link [in case] anything untoward happens."
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