Louisiana sells $200 million in general obligation bonds for construction projectsOctober 28th, 2009 La. sells $200M in bonds for building projectsBATON ROUGE, La. — Louisiana sold $200 million in general obligation bonds to generate upfront cash to finance state construction projects, the first such bond sale since September 2006.
UK government secures repayment from Iceland over collapsed bankJune 6th, 2009 UK gov't secures cash from Iceland over IcesaveLONDON — Iceland will reimburse the British and Dutch governments for compensation paid out to depositors of the failed Icesave Internet bank, the British Treasury said Saturday. In a statement, the Treasury said the British government will be repaid 2.3 billion pounds over the next 15 years with interest.
Dollar gains as ECB, BofE leave interest rates unchangedJune 4th, 2009 Dollar gains as ECB, BofE leave rates unchangedNEW YORK — The dollar moved higher Thursday after the European Central Bank and Bank of England both left interest rates unchanged, as expected. The 16-nation euro dropped to $1.4128 in early New York trading from $1.4134 late Wednesday.
SBI slashes deposit rates by 50 basis pointsMay 13th, 2009 MUMBAI - State Bank of India (SBI), the country's largest lender, slashed deposit rates by 50 basis points on various maturities Wednesday. The new interest rate will be effective from May 18, the bank said in a regulatory statement.
SBI may review rates by May-endMay 8th, 2009 KOLKATA - State Bank of India (SBI), the country's largest lender, may review rates by May-end as it has seen a steady rise in deposits last fiscal, a top official said here Friday. 'Our deposits are growing at fantastic rates; we see an excess of supply over demand,' SBI chairman O.P.
SBI slashes deposit rates by 25 basis pointsMay 2nd, 2009 MUMBAI - The country's largest lender State Bank of India Saturday said it has cut deposit rates by 25 basis points (bps) effective from Monday. The new interest rate, for a deposit of 15-45 days, will be 3.75 percent, while deposits up to 10 years will fetch interest of 8.25 percent, SBI said in a statement.
IDBI Bank reduces interest rates on term depositsApril 29th, 2009 NEW DELHI - Taking a cue from the State Bank of India, the state-run IDBI Bank Wednesday announced cut in its interest rates on retail term deposits by 25-50 basis points across various maturity buckets. The bank has also realigned its maturity buckets by bifurcating the three-year-five-day to 10 years maturity bucket into two separate buckets : three-year-five-day to five years, and five years to 10 years.
Orchid Pharma buys its bonds to save on interest costMarch 31st, 2009 CHENNAI - The city-based bulk drug manufacturer Orchid Chemicals and Pharmaceuticals has purchased $12.1 million worth of bonds from the market and is in the process of extinguishing them to save on interest costs. This is the second such purchase in recent times by the company, which March 26 announced it had bought $25.7 million worth of bonds.
Punjab National Bank rules out further cut in interest ratesMarch 27th, 2009 NEW DELHI - The state-owned Punjab National Bank (PNB) feels it would be difficult to lower lending rates any further if the government did not slash interest rates on existing deposits. 'The Reserve Bank of India (RBI) is not reducing interest on savings bank deposits.
Japan's central bank holds rates, raises purchase of government bondsMarch 18th, 2009 TOKYO - Japan's central bank Wednesday kept its benchmark interest rate unchanged at 0.1 percent but decided to step up its purchases of government debt. The Bank of Japan is to increase its monthly purchases of long-term government debt from 1.4 trillion yen ($14.21 billion) to 1.8 trillion yen to inject liquidity into money markets and prevent the rise of long-term interest rates.
Punjab National Bank cuts car loan rates by 50 basis pointsMarch 1st, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has lowered interest rates for car loans by 50 basis points, effective from Sunday. 'The interest rate on car loan would come down from 11-11.5 percent to 10.5-11 percent, with effect from March 1,' PNB said in a statement Saturday.
China should buy more US treasury bonds: ClintonFebruary 23rd, 2009 BEIJING - US Secretary of State Hillary Rodham Clinton called on China Sunday to invest more in US treasury bonds, to aid both economies during the global financial crisis. In an interview with the Shanghai Dragon TV channel, Clinton said, 'It would not be in China's interest if we were unable to get our economy moving again.'
'We are truly going to rise or fall together.
Interest rates should be reduced further: Kamal NathFebruary 9th, 2009 NEW DELHI - Interest rates for the Indian corporate sector were still 'very high' and must be reduced, Commerce Minister Kamal Nath said here Tuesday. 'This is under the domain of the RBI (Reserve Bank of India) but my own view is that interest rates are very high and the interest rate should be reduced,' Kamal Nath told reporters ahead of the interim budget Feb 16.
Bank of England cuts interest rates to historic lowFebruary 4th, 2009 LONDON - The Bank of England (BoE) Thursday cut interest rates to an historic low of one percent in a further attempt to stimulate the economy and stave off a deepening recession. The bank's decision to cut borrowing costs by 50-basis-points follows monthly rate cuts since last October, when the key lending rate in Britain stood at five percent.
More state-owned banks reduce lending ratesDecember 28th, 2008 NEW DELHI - Dena Bank, Punjab National Bank (PNB) and Bank of Baroda will reduce their benchmark prime lending rates (BPLR) from Jan 1, the three state-owned banks announced Monday. Dena Bank will cut its BPLR by 75 basis points from 13.5 percent annually to 12.75 percent.
Loading ...