Month: February 2009

RBI bought US Treasury Bills worth $6.9 bn, total holding at $23.1 bn

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Undeterred by the worsening US economy and near-zero returns, some of the central banks, including RBI, are buying US treasury bills in a big lot. Central monetary authorities of China, Russia, Hong Kong, Norway, Ireland and Israel have gradually bought the low-yielding sovereign dollar asset in their portfolio. With the December buy, the total of … Read more RBI bought US Treasury Bills worth $6.9 bn, total holding at $23.1 bn

Soma Enterprise bags Rs 199 cr order from Chennai Metro Rail project

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Hyderabad-based Soma Enterprise has secured an order worth Rs 199 crore from the Chennai Metro Rail Project. Besides Soma, various other infrastructure companies like Gammon India, Simplex, L&T and a joint venture of Nagarjuna Construction and CCCL were also included in the race for this project. As per the deal, Soma Enterprise is required to … Read more Soma Enterprise bags Rs 199 cr order from Chennai Metro Rail project

HDFC announces introduction of HDFC FLEXINDEX Plan

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HDFC Mutual Fund has introduced HDFC FLEXINDEX Plan under its debt / liquid schemes. The introduced plan will provide a facility to unit holders under the debt / liquid schemes of the HDFC Mutual Fund (Source Schemes) to automatically transfer a portion of their investment into equity schemes of HDFC Mutual Fund (Target Schemes) on … Read more HDFC announces introduction of HDFC FLEXINDEX Plan

Satyam cost cutting – staff to follow austerity measures

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Crisis-ridden IT major Satyam Computer Services’ management has drawn up several austerity measures and has urged its staff to strictly follow it. The initiatives are part of the company’s cost cutting measures in view of the global slowdown. As per the initiatives, company has also put a freeze on expenses relating to internal issues including … Read more Satyam cost cutting – staff to follow austerity measures

Star Union Dai-Ichi Life Insurance to launch two ULIPs

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The joint venture life insurance company promoted by Bank of India, Union Bank and Dai-Ichi Mutual Life Insurance – Star Union Dai-Ichi Life Insurance Company – will soon launch two unit linked plans, pension and child benefit plans. The insurer is presently awaiting the approval from Insurance Regulatory and Development Authority (IRDA) for launching these … Read more Star Union Dai-Ichi Life Insurance to launch two ULIPs