With a whopping $475 billion required over the next five years for infrastructure development in the country, the Centre is toying with the idea of using a part of its foreign exchange (forex) reserves to fund projects, finance minister P Chidambaram said here today. ICICI Bank today said its profit after tax for the first quarter of the current financial year has increased by 25 per cent to touch Rs 775 crore and the total income stood at Rs 9,281. The government is in discussion with the Reserve Bank of India to use some portion of the foreign exchange reserves, estimated at around $220 billion, for infrastructure, Chidambaram stated at a conference of chief secretaries on public-private partnership (PPP). The finance minister also disclosed plans for the proposed Rs 100-crore India Infrastructure Project Development Fund (IIPDF) aimed at helping the states in preparatory work of projects with PPP. Fee income shot up by 35 per cent to Rs 1,428 crore, while net interest income rose by 16 per cent to Rs 1,714 crore from Rs 1,475 crore. According to many senior pilots and DGCA officials, majority of pilots returning from America lack in general knowledge and technical flying knowhow because they have managed licences in 5-6 months instead of undergoing the minimum stipulated training of 18 months. read more

[Tags]projects, rs, cent, infrastructure, states, crore, forex news[/Tags]

A secondary function is for V-Coin members to make payments to entities who are not yet V-Coin members. For this purpose, the V-Coin system can be instructed to send VC$ payments via email allowing the recipient to sign up and collect their pending V-Coin Payment. V-Coin is a new 'digital' currency platform which unlike Digital Gold Currencies has their Digital Currency pegged to the United States Dollar. Miguel Maderaverde, General Manager at V-Coin explains "One of the many great features which sets us apart from other Digital Currency Operators is a VC$ is always equal to 1 US Dollar, this means no more losses due to currency fluctuations, also as we are based entirely offshore here in Costa Rica, users can rest assured of privacy protection and finally all monies backing our currency are held with our parent company the Central American International Trust Company providing our users peace of mind. V-Coin also offers a marketplace, much like a shopping mall for member merchants to promote their online businesses which accept payment in V-Coin at no additional charge. read more

[Tags]vcoin, currency, company, digital, payments, account, forex news[/Tags]

Forex – US dollar higher early in Asian session, but within familiar ranges – Forbes. SYDNEY (Thomson Financial) – The US dollar was higher against the yen and euro early in Asian trading hours Friday, but still within familiar ranges, after Federal Reserve chairman Ben Bernanke concluded Thursday his semi-annual testimony to the US Congress. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

[Tags]news, afx, content, dollar, forbes, , forex news[/Tags]

Dollar Falls Against Major Currencies – Forbes. While the Commerce Department reported Wednesday that housing construction unexpectedly increased in June, the news was offset by a downward revision of May’s housing starts and a sharp dive in the number of June building permits, a measure of future activity. Federal Reserve Chairman Ben Bernanke also revived housing concerns in his testimony to Congress, warning that a worse-than-expected housing downturn could weigh heavily on the economy. PK – news – people ) has raised rates steadily and is expected to do so again to 4. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

[Tags], forbes, housing, dollar, inflation, rate, forex news[/Tags]

RTTNews – Forex News top stories, Forex Trading, European Market Update, Currency Market Update, Forex trading. In general, the British currency is at a two and a half week high against its European counterpart. Versus the dollar, the British currency saw some strength in trading on Tuesday. The currency rose steadily in the morning hours against the Japanese currency to a mark of 250. In trading against the American dollar on Tuesday, the European currency saw little direction as action moved into the afternoon. Versus the yen, the European currency rose sharply in trading on Tuesday. read more

[Tags]currency, trading, euro, european, high, tuesday, forex news[/Tags]

read more

[Tags]forex news[/Tags]

read more

[Tags]forex news[/Tags]

What you see is that power, by contrast, uses the monetary weapon for its own interests – it is the case with China, Japan, and the United States,” Secretary of State for Europe Jean-Pierre Jouyet told LCI television. German Chancellor Angela Merkel was quoted as saying on Tuesday that Berlin strongly opposed French President Nicolas Sarkozy’s criticisms of the ECB and euro strength. Among the senior European policymakers who have indicated that no action is needed is Jean-Claude Juncker, the chairman of the Eurogroup of euro zone finance ministers. Juncker said he did not think a strong euro would undermine economic growth and took a swipe at France by adding that those who disliked a strong common currency should focus on domestic reforms to improve competitiveness. read more

[Tags]euro, european, finance, french, jouyet, policymakers, forex news[/Tags]

Foreign currency assets (FCAs) increased by $1. FCAs in dollars include the effect of revaluation of non-US currencies such as euro, sterling and yen held in reserves. The country’s forex reserves had increased by $937 million during the week ended 29 June. Gold reserves, however, came down by $124 million to stand at $6. SDRs remained static at $1 million. read more

[Tags]million, reserves, 1, fcas, increased, 124, forex news[/Tags]

RTTNews – Currency Trading, Currency Market Update, Trading Opportunities, US Market Update . After moving little overnight and into the early hours, the franc edged up to a mark of 101. Generally, the Swiss franc continues to move at a multi-year high against the yen. Overall, the Swiss currency is within the range of the past month and a half against its European counterpart. In general, the Swiss currency is at a monthly high against the sterling. read more

[Tags]currency, franc, high, swiss, , mark, forex news[/Tags]