Jun
3
Offshore News 3rd June 2008
Filed Under Offshore News Tags: Offshore News —
India cbank to let oil firms hedge imports offshore
Source: Reuters
MUMBAI, June 3 (Reuters) - The Reserve Bank of India on Tuesday said it would allow Indian oil firms to hedge crude imports on overseas exchanges, and increased the limit on firms’ investments in the overseas energy and natural resources sectors.
Abbey launches Issue 8 Base Rate Tracker Term Account
Source: Easier (press release), UK
3 June 2008
Abbey International has launched Issue 8 of its Base Rate Tracker Term Account as part of its range of deposit accounts offering consistent and competitive rates of interest offering savers rates of up to 5.30% gross/AER, one of the highest rates available from a leading offshore bank.
EFG goes back to basics
Source: Wealth Bulletin, UK
Traditional offshore Swiss private banking – might still be growing – but at a less rigorous pace than in the last five years – many private banks are .
Dollar dips on rate outlook, credit woes
Source: The Age, Australia
The Australian dollar nudged lower against the US currency and dropped against the yen on Tuesday, after the central bank said local rates would remain steady and fresh concerns about the financial sector emerged. As expected, the Reserve Bank of Australia left its cash rate unchanged at a 12-year high of 7.25% and, in a statement released after its monthly board meeting, said monetary policy was appropriate for the time being amid a significant slowdown in demand.
