American private equity firms, banks and hedge funds, once a substantial resource for Hollywood films, have seen their coffers dry up over the past two years.
The chamber has suggested setting up of a committee under the chairmanship of Prime Minister Manmohan Singh to ensure resolution of the issue between the banks and exporters. Many exporters, who hedged their currency risk by executing forex derivatives contracts with banks, suffered huge losses on fluctuation in the value of rupee and now want that the banks compensate them.
The rally is likely to last longer than people think, and it is also unlikely to correct severely.
The surge in oil prices has also affected the rupee, which hit a 6-week low of 70.25 on Friday against the dollar.
The entry of FIIs into currency futures would lead to very high volatility as has been witnessed in the equity market. Therefore, domestic corporates may stay away from participation.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
The dollar index was down by 0.02 per cent against a basket of six major currencies.
It's one Forbes list where none would want to figure, but Ramalinga Raju, founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world's 10 most outrageous CEOs.
Raju, the only Indian on the list dominated by Americans, owes his place on the list to his disclosure in January about committing the country's biggest ever corporate fraud.
To take action against non-cooperative jurisdictions, including tax havens.
Never invest in a company or an industry that you have never heard of even if you get a tip-off.
While global uncertainty has led to a rise in prices in 2016, there is still a lot of doubt regarding its future.
The Reserve Bank of India may move forward to accumulating more gold as the yellow metal is expected to shine in the years to come. "A weaker dollar could diminish the value of India's foreign exchange reserves and hence this could lead to further accumulation of gold by the RBI. This move will help India's central bank to hedge its downside risk on the foreign exchange reserves front," Angel Commodities Broking analyst Amar Singh said.
The director of Kannada film House Full is contemplating legal action against the Bollywood star.
Gold is a hedge against the dollar and inflation. It has a very low correlation with other asset classes like equity and debt thereby a good asset to diversify the overall portfolio.
The recovery can be attributed to the absence of selling by hedge funds. Dealers said, there are expectations of improved rollover of derivative contracts in the next two days.
Being more financially savvy helps women choose the right balance between consumption spending vs investing for future and can hold them in good stead as life hands out various twists and turns along the way, says Piyush Baranwal
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
Let's face it. When it comes to the Pentagon, the Pakistani military can do no wrong. Even if it's going after only the Pakistani Taliban and not the Afghan Taliban, which it apparently continues to promote for strategic depth against India and as a hedge in case the US decides to cut and run.
Restrictions on the Kalindi Kunj road between Noida and Delhi continued on Friday after it was briefly opened by the Uttar Pradesh Police on Thursday night, officials said. The Delhi Police admitted that the protesters had not blocked the parallel road, but they had barricaded it to provide security to the protest site.
'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.
Kumar has been director on the board of ISB, which is affiliated to Wharton, Kellogg and London School of Business, for four or five years.
Asia's oldest bourse, Bombay Stock Exchange on Wednesday launched currency derivatives segment (BSE-CDX) that would enable participants to hedge their currency risks through trading in the US dollar-rupee future platform.
Mathew Martoma, a former SAC Capital portfolio manager, faces 20 years in prison for securities fraud and five years for conspiracy
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
The dispute involves a UK-based hedge fund, Altima Partners, and the company's principal promoter Raghav Bahl, founder and largest shareholder of Network18, the broadcasting group which runs TV channels such as CNBC-TV18, Colors and Awaaz.
In a significant development, India's National Commodity & Derivatives Exchange Limited on Thursday launched its futures contract for Certified Emission Reduction. Forward Markets Commission, chairman, B. C. Khatua inaugurated the launch at NCDEX Exchange Platform. The CER contract of NCDEX will be traded in multiples of one lot of 500 CERs each.
Trading in currency futures will soon become a reality for the retail investor. With the Reserve Bank of India and the Securities and Exchange Board of India issuing trading norms, exchanges are readying themselves to launch this product in the next few weeks.
Growth impulses, while improving, remain fragile, and a rate hike will be disruptive to interest costs.
Gold prices surged by Rs 100 to close at Rs 15,090 per ten gram today on heavy buying by jewellery fabricators amid firming global trend.
Quantum (M) has acquired three lakh shares representing 1.18 per cent stake worth Rs 112.35 crore (Rs 1.12 billion) in the company by private placement of shares, Educomp said in a disclosure to the Bombay Stock Exchange. Prior to the acquisition the foreign fund held 4.79 per cent stake, which increased to 5.97 per cent comprising 11.29 lakh shares in the IT education services provider.
Risk management is too technical and dynamic a field to lend itself to decision-making by a committee. It needs to be run by professionals with a clear mandate and accountability, says Jamal Mecklai.
Gold looks cheap compared to the stock markets that are highly overbought at the moment.
Airlines have been conducting fuel efficiency analysis, which involves fuel calculations on a daily basis, based on the availability of optimum routes in terms of wind, flight levels and overflying charges, route rationalisation to prune the number of flights and increase utilisation. They also want the Centre to grant ATF a declared goods status, which would result in a uniform levy of 4 per cent sales tax at the state level.
The aggrieved shareholders, who have come together under the banner of The Indian Film Company Requisition Group, has said in a fresh communication to IFC that they were legally entitled to get access to the share register. A copy of the communication was provided by Bankside Consultants, the PR agency representing IFCRG.
Forward contracts are settled by CCIL, but there is no guarantee that the parties may comply with CCIL's terms. "We have proposed to RBI to allow us to provide a guarantee for forward deals," said CCIL Chairman R H Patil. With the CCIL guarantee, banks providing products to currency hedgers, will benefit as they will have to make a lesser provision towards capital adequacy.
Nearly $1 trillion in risky debt comes due from 2011 to 2015, and even if the credit crunch is long past, companies will likely struggle to refinance it says CreditSights.
A recent clarification by the Institute of Chartered Accountants of India regarding disclosure norms for derivative contracts had specified that companies would have to disclose mark-to-market losses from such transactions, financial year 2007-08 onwards. Sources now say companies have the leeway to avoid reporting losses on derivative contracts, as there are enough mechanisms in accounting standards that lay out the guiding principles in this regard.
Currency hedging, cost management, operational efficiencies, coupled with robust demand for outsourcing IT services helped top four local business process outsourcing firms manage the subprime crisis and rupee appreciation.
The Index of Industrial Production (IIP), GDP figures, current account data, foreign direct investment and exports-imports data are very dismal. They do not show the extraordinary 9 per cent growth, says Amreek Singh Sandhu, CFO, Gati Ltd.
