Tuesday, January 4, 2011

Income Tax Appellate Tribunal (ITAT) Order on Bofors Deal (pdf version)


Source :The Hindu.January 3, 2011

Income Tax Appellate Tribunal

 (ITAT) Order ( FULL TEXT )

on Bofors Deal 

(pdf version)

click here :

SIB hikes NRE and FCNR deposit rates


Source :The Hindu.3rd jan 2011

Thrissur: The South Indian Bank has revised interest rates on Non-Resident External (NRE) and Foreign Currency Non-resident (FCNR) fixed deposits with effect from January 1.

The interest on NRE deposits of two years to less than three years and 3 years and above have been increased to 2.6 per cent from 2.51 per cent and 3.9 per cent from 2.79 per cent respectively.

FCNR deposits in Pound Sterling will carry 2.51 per cent (2.49 previously) for one year to less than two years, 2.51 per cent (2.37 previously) for two years to less than three years; 2.94 per cent (2.71) for three years to less than 4 years; 3.34 per cent (3.04) for four years to less than five years and 3.65 percent (3.37) for five years.

The revised rates in Euro are 2.92 per cent (2.84) for three years to less than four years; 3.22 per cent (3.10) for four years to less than five years and 3.52 per cent (3.33) for five years.

Credit Suisse Executes Its First Trades Using Smart Order Routing in India


Source :Kelly Dunst on 12 16, 2010



Credit Suisse today announced that it had executed its first trades using Smart Order Routing (SOR) technology on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India. This enables investors to access the best price available at a given time for stocks listed on both the BSE and NSE. Credit Suisse’s leadership with SOR in India is further evidence of how the bank’s dominant electronic trading franchise delivers benefits to its clients.


“The availability of SOR in India is an advantage for investors in this rapidly-expanding market, enabling them to achieve cost savings and a more efficient execution process,” commented Murat Atamer, Head of Product for Advanced Execution Services (AES®) for Asia Pacific at Credit Suisse.


SOR technology directs orders placed with a broker to the best price available if a security is listed on more than one market. SOR trades handled by Credit Suisse so far have resulted in a 6bp average saving compared to trading without SOR, noted Mr. Atamer. This is more than the average bid/offer spread for the names traded, he added.





“We’re very excited about this major step forward for India’s equity market,” said James Rae, Head of AES Sales for South East Asia at Credit Suisse. “There are price discrepancies at the moment because it is difficult to trade both exchanges manually, but SOR means clients can have confidence that they are achieving best execution without having to watch two markets.”


Credit Suisse’s groundbreaking SOR trades in India continue the Bank’s history of realizing benefits for its clients by developing new trading technology in Asia Pacific. 


In May 2009, Credit Suisse became the first broker to offer SOR in Asia Pacific with the launch of AES® Pathfinder in Japan, enabling clients to execute trades at the best price available across Japan’s traditional exchanges and Proprietary Trading Systems (PTS).




Credit Suisse AG


Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management.


 Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide.


 The group employs approximately 50,500 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.


Investment Banking
In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. 


Operating in 57 locations across 30 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.