27 August, 2013

European stocks slide on tension over Syria

European stock markets fell on Tuesday, mirroring losses in Asia and overnight on Wall Street, as investors factored in possible US military intervention in Syria.

In late morning deals, London's FTSE 100 index of leading shares dropped 0.82 percent to stand at 6,438.72 points, as dealers in London returned to their desks after a three-day holiday weekend.

Frankfurt's DAX 30 sank 1.50 percent to 8,308.84 points and the CAC 40 in Paris shed 1.47 percent to 4,007.36 compared with Monday's closing values.

Gold extends gain in futures trade on global cues, up 1.34%

Continuing its rising streak, gold futures prices on Tuesday rose further by 1.34% to Rs 32,304 per ten gram as speculators engaged in enlarging positions on positive global cues.

Besides, sliding rupee which again breached 65-mark against the dollar also supported the rise in gold futures.

At the Multi Commodity Exchange, metal for delivery in October gained Rs 428, or 1.34%, to trade higher at Rs 32,304 per 10 gm in a turnover of 845 lots.

Banks slap charges on phone banking

After SMS alerts, banks are now charging customers to speak to phone banking executives.

Standard Chartered Bank has informed savings account and credit card customers that from next month they will be allowed only two free calls to their phone banking executive each month. For any calls made thereafter, they will be charged Rs 50 per call.

HDFC Bank charges Rs 50 per call for those customers who have not maintained the average minimum balance prescribed for their account if they insist on speaking to an executive when the information is available through an interactive voice response (IVR) system.

Banks may extend education loan repayment period

With the rupee continuing to hover near 64 to a dollar and 100 to a pound, many banks are contemplating extending the repayment period of educational loans taken by students to pursue higher studies abroad. "This would result in the EMI (equated monthly installment) coming down," India Bank CMD T M Bhasin said. He also headed an Indian Banks Association (IBA) committee on educational loans.

Similarly, State Bank of Hyderabad may extend the repayment tenure for loans taken for higher studies abroad from seven to ten years. "Every attempt at restructuring would be looked into, including extension of loan tenure," MD of State Bank of Hyderabad, M Bhagavantha Rao said.

HDFC Credila has gone a step further. It plans to extend tenure to 15 years for select cases. "A 10-12 year repayment is becoming the norm now," country head of Credila Financial Services, Prashant A Bhonsle, said.

Triumphant Indian women archers return home

The triumphant Indian women's recurve team, which clinched the World Cup Stage IV crown in Poland, returned home in the wee hours on Tuesday to a lukewarm response.

The archery team, comprising Bombayla Devi, Deepika Kumari and Rimil Buriuly, were later felicitated at the resident of President of Archery Association of India (AAI), V K Malhotra.

The archers were, however, a little disappointed that no top officials had come to receive them at the Indira Gandhi International airport.

"We are a bit disappointed. If we compare with other sports, there are lot of people receiving the players at the airport. This is a very big achievement, we defeated Korea. It would have been great had we received a big welcome but its okay our job is to do better and we will do it," Rimil said.

India eye big win over Bangladesh ahead of Asia Cup semis

Already through to the semifinals, an upbeat India would aim to keep their winning juggernaut rolling and end their pool engagements with a thumping victory over minnows Bangladesh in the Asia Cup hockey tournament on Wednesday.

After back-to-back victories against Oman and defending champions South Korea, the Indians are brimming with confidence but they cannot afford to relax in the eight-nation tournament, which they desperately need to win to qualify for next year's World Cup at The Hague, Netherlands.