LONDON (Thomson Financial) – The pound scaled the all-important 2 dollar mark again this morning as the UK currency benefited from expectations that the Bank of England will raise interest rates more aggressively than previously thought. 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

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Investment management company, Sterling Asset management, has launched a U. Essentially a demand loan, borrowers can repay the debt early without any penalty, unlike similar products offered by traditional lenders. The product is among Sterling’s medium-term strategies to increase its portfolio of management activities by accessing emerging and international capital markets for new products to the Jamaican investor. The approval process is relatively short – three days – and the loan is disbursed once the loan is approved. Sterling Silver is available to Sterling’s clients who hold a US$ bond account, repo account, mutual fund or other U. Capping the loan at 80 per cent of the client’s funds was done to protect both Sterling and its customers, said Ross. read more

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The government’s outstanding debt to the Central bank fell to Rs 8,200 crore after the repayment. The government has a limit of Rs 6,000 crore on loans in the quarter that began April 1. Meanwhile, the aggregate deposits of the banking system increased by Rs 37,109 crore (1. Total bank credit increased by Rs 7,095 crore (0. read more

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Gold, forex reserves down by $1. June 21 (Interfax) – Russian gold and forex reserves amounted to $405 billion on June 15, the Russian Central Bank’s PR department said. News and other data on this web site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax. read more

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Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests. read more

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China’s legislature will review a proposal to issue special treasury bonds to buy foreign currency from the central bank at a session convening from June 24 to 29, the government said in a statement on its Web site Monday. China is setting up a State forex investment company that will use a portion of the country’s hefty foreign exchange reserves to buy investments with higher yields. Monday’s statement said that the review would center on the proposal that the Ministry of Finance issue special treasury bonds to buy foreign exchange, which is overseen by the central bank. New firm to tap forex reserves The National People’s Congress Standing Committee would also review a proposal to adjust the annual ceiling on treasury bond issuance in the country at the session, the statement said. Economists expect the finance ministry will sell yuan-denominated treasury bonds to buy US$200 billion to US$250 billion of foreign reserves from the central bank to put into the SIC, earlier media reported. read more

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LONDON (Thomson Financial) – The New Zealand dollar was little affected following reports that the Reserve Bank of New Zealand has again intervened to stem the currency’s rise. 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

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KUALA LUMPUR, June 16 (Bernama) — The ringgit is likely to weaken against the US dollar next week on lower demand for commercial activities amid expected consolidation in the local stock market, dealers said. The local currency had risen almost 15 percent to the US dollar since unpegged, in tandem with gains made on local stock market over the past months. The dollar, meanwhile, is expected to be higher next week, particularly against the Japanese yen as an interest rate hike is unlikely in Japan after the Bank of Japan left its benchmark lending rate unchanged yesterday. During the week, the local unit was mostly higher against the US dollar in line with the improved local stock market performance. read more

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Yes Bank will act as a market maker for the dollar-rupee pair for corporates having subscription to Reuters terminal, while other small corporates or individuals can avail online forex trading in any currency pair through the bank’s website, Bank Group President Financial Markets Ajay Mahajan told reporters. In the last two years, Yes Bank has acquired more than 500 customers and it would make efforts to increase its customers through the offer, Mahajan said. Reuters South Asia Managing Director Samir Shah said that a recent Corporate Treasury survey carried out in India found that there was a high demand for electronic forex trading. Yes Bank is the first private sector bank to go ‘live’ in RTFX, which currently has Union Bank of India and Standard Chartered as the other two market makers. Copyright © 2007 Times Internet Limited. read more

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