Definition Zone
LIBOR: An interest rate at which banks can borrow
funds, in marketable size, from other banks in the London interbank market. It is fixed on a daily basis by the British Bankers'
Association. The LIBOR is derived from a filtered average of the world's
most creditworthy banks' interbank deposit rates for larger loans with
maturities between overnight and one full year.
Source: http://www.investopedia.com/terms/l/libor.asp#axzz25Eki3C5d
Source: http://www.investopedia.com/terms/l/libor.asp#axzz25Eki3C5d
The best of Economics, Finance and Politics
SEBI weighs plan to start
exchange for Corporate Bonds, fixed income derivatives
Business Line, India August 27,
2012
Securities and Exchange Board of India (SEBI) is
considering a proposal for setting up a dedicated exchange for corporate bonds
and fixed income derivatives, which will exclusively cater to large
institutional clients like banks, mutual funds, insurance companies and primary
dealers. Currently, corporate bonds and interest rate derivatives are
transacted primarily in the OTC (Over the counter) market.
The exchange is
proposed to set up by ICAP India, a subsidiary of the world’s largest
inter-dealer broker ICAP plc, and its application is currently being processed
by the SEBI. As per the plan, the firm’s 200 clients would be offered
membership in the proposed exchange.
The proposal is in sync
with Dodd Franck Act of US and European Commission draft favoring regulation
and transparency for OTC derivatives. Also G-20 countries, of which India is a
signatory, had said in 2009 that all standardized OTC derivatives be traded in
exchange system by the end of 2012 and where possible centrally cleared.
Japan’s Dentsu Acquires
Indie Agency Taproot at estimated deal of 140 crore
The Economic times, India August
29, 2012
Japanese advertising behemoth Dentsu has acquired
51% stake in Taproot, the most creative among Indian advertising agencies. With
several of the most popular recent campaigns like ‘Har ek friend zaroori hota hai’ and ‘joh tera hai vo mera hai’ for Airtel and ‘Change the Game ’ for Pepsi under its belt, the five year old
agency has seen meteoric rise.
Taproot was founded by
Agnello Dias and Santosh Padhi in 2008. Dentsu will get Creative firepower,
while taproot gets national network, superior execution ability, integrated
communication and of course the money. Taproot won’t be rebranded. Although
Dentsu is a majority owner, management control of the agency will rest with
Dias and Padhi.
India-Indonesia Signed Double Taxation Avoidance Agreement (DTAA)
India and Indonesia
signed an agreement to avoid double taxation and prevent fiscal evasion with
respect to taxes on income on 27 July 2012.
The agreement was
signed by Indonesian Foreign Affairs Minister Dr. R. M. Marty Natalegawa and
his Indian counterpart S.M Krishna at the Hyderabad House in New Delhi. Apart
from the agreement, both sides also signed the agreed minutes of the fourth
Joint Commission Meeting between India and Indonesia.
Highlights of the Meet
• Both the countries, reviewed the
entire state of bilateral relationship including trade and commerce.
• Two nations have also agreed to
strengthen the bilateral relationship into a strategic partnership
Both countries share a warm relationship on account
of the solid foundation of historical and cultural ties. Both countries are
also hopeful of achieving the trade target of 25 billion US Dollars by 2015
Annual Supplementary
Foreign policy 2012-13 provides interest subsidy support to exporters
Infoline.com
Government has come forward for rescue of exporters
by extending some promotion schemes and providing incentives to tap new markets
with the aim to increase exports by 20% during 2012-13. Policy underlines 7
point agenda to assist country’s export in the current shaking environment.
Highlights of FTA-
- Government aiming 20% export growth in 2012-13
- 2% interest subsidy scheme extended till march 2013
- Incentives for exports from north eastern states
- Seven new market added to Focus market scheme
- 13 shows abroad to promote Brand India
- Incentives for promoting investment in labor intensive sectors
News at Glance
Basel III to be
effective from Jan 2013
IMF Lowers India Growth
projection to 6.1 per cent for 2012
Moody’s maintain
India’s Rating Outlook stable
Current Account deficit
hits all time high.
India stands second in
Innovation Efficiency Index
Direct Tax collection
rises 47% in Q1 2012-13
Know your Recruiter: ING Group
ING is the largest banking and financial services
& insurance conglomerate in the world by revenue (€55.79 billion (2011). ING is an abbreviation for International
Nederland Group. ING has its client base spread in more than
45 countries.
Key Business Services of ING Group
·
Retail
Banking
·
Direct
Banking
·
Commercial
Banking
·
Investment
Banking
·
Asset
Management
·
Insurance
Services
Sunday Read for you:
- SBI ties up with Japanese Bank
- BHEL disinvestment put on hold
- Who cares about the price of onions?
- My dollar, my rules
- Forex reserves up by $1.26 billion to $ 290 billion.
Anupriya (12PGP063)
Srilakshmi Soumya Ch (12PGP097)
Finatix Member-IIM Raipur
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