COVER
STORY
Commodities
Oil Market: The BP Shutdown
- - Kalyan J Sandilya
With
a massive corrosion in the oil pipeline on August 6,
2006, the British Petroleum PLC, the second largest
oil company and the petroleum giant, has shut down its
operations at Prudhoe Bay Oilfield, in Alaska. The article
discusses its impact on both the oil and the base metal
prices.
©
2006 IUP . All Rights Reserved
TREASURY
Problems
and Prospects of Commodity Futures Market in India
- - V Gangadhar, G Naresh Reddy
Commodities
trading is increasingly becoming the choice of many
traders. The prices of commodities and the markets in
which they trade are known to behave differently from
those of the industrial goods or services. The article
examines the role of commodity futures and studies the
challenges it is facing. It also provides suggestions
to boost commodity futures trading in India.
©
2006 IUP . All Rights Reserved
TREASURY
Yen
Carry Trade
- - Rajendra Kumar
The
scenario of an appreciating dollar and the large interest
rate differential between Japan and the US gave rise
to profitable trading opportunity. Japan raising its
interest rate and abandoning its zero-rates policy is
bound to make "Yen Carry Trade" unviable resulting in
unwinding of speculative derivative products.
©
2006 IUP . All Rights Reserved
TREASURY
Securities
Lending Transactions
- - KV Saraswati
Repurchase
agreements (repos), reverse repos and securities lending
markets allow many institutions to conduct a broad variety
of financial transaction more effectively. The article
discusses the related concepts.
©
2006 IUP . All Rights Reserved
TREASURY
CBLO:
A Leader with a `Haircut' in the Money Market
- - K Mallikarjunan
Collaterized
Borrowing and Lending Obligations (CBLO) instrument
is one with a `haircut'. It has short maturities up
to 90 days and is traded with ease in the money market.
It helps the development of short-term reference rates
in the Inter-bank deals and provides liquidity and depth
to the money market. This article deals with the related
issues.
©
2006 IUP . All Rights Reserved
FOREX
Foreign
Exchange: Intervention in Asia
- - Ganapati Mendali
In
the Foreign Exchange market, `intervention' indicates
the buying and selling of foreign currency by the Central
Bank of the country or other agent of the government
to influence the value of exchange rate. This article
deals with the related issues in greater detail.
©
2006 IUP . All Rights Reserved
FOREX
Exporters
and FEMA
- - TR Shastri
The
Reserve Bank of India, while discharging its statutory
responsibilities, has also played a crucial role in
the nation-building process, particularly in the development
of the financial sector, which is being enacted through
Foreign Exchange Management Act (FEMA). This article
discusses these aspects in detail.
©
2006 IUP . All Rights Reserved
FOREX
FDI
in Exchanges: Alternative to Build Global Exchanges
in India
- - ISSN Raju
RBI's
inclination towards FDI in stock exchanges alarmed the
players and the stake holders alike. The article focuses
on the need for FDI in stock exchanges in India, its
benefits and consequences. It also discusses the part
played by FDI and other alternatives to build Global
Indian exchanges and the role of the Regulators in promoting
and controlling100% FDI in the Indian exchanges.
©
2006 IUP . All Rights Reserved
SPEECH
Financial
System Risks in the UK: Issues and Challenges
- - John Gieve
©
2006 BIS Review. Speech by Sir John Gieve, Deputy Governor
of the Bank of England, at a Center for the Study of
Financial Innovation Roundtable, London, July 25, 2006.
BOOK
REVIEW
China
and the WTO: Some Reflections
- - E Mrudula
The
World Trade Organization (WTO) has ushered in opportunities
and challenges to both domestic and international economies,
including China. This book clearly traces the history
of the WTO and China's accession to it after 15 years
of negotiations. The book analyses the impact of China's
entry into WTO, and shows how deftly the WTO enabled
the foreign-funded banks to provide foreign-exchange
services to the Chinese clients.
©
2006 IUP . All Rights Reserved
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