| Capital idea: getting the best out of resource flows
During the earlier part of this decade, managing fiscal expenditure was the prime concern of economic policy makers in the country. Then came the fiscal responsibility legislation of 2003, the dramatic pick-up in the growth rate (with burgeoning tax revenues), decline in interest rates and in the case of the states, the report of the Twelfth Finance Commission. The next big concern faced by the decision makers in India is now the rapid rise in private capital flows. It appears ironical that a decade and a half after the country had to turn towards the IMF due to its dwindling foreign exchange reserves, we are now grappling with the problem of too much inflow. The questions facing us are twofold - how to manage the monetary implications of this inflow and how the inflow should be channelized in the correct direction.
(AFX UK Focus) 2007-11-16 06:34 GMT: Japan Bank for Intl Cooperation's 1 bln usd bond rated 'AA' - S&P
MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has assigned its 'AA' senior unsecured long-term foreign currency debt rating to Japan Bank for International Cooperation's (JIBC) 1 bln usd 4.375 pct series 15 bond due Nov 26, 2012. The ratings agency said, the bond carries the irrevocable and unconditional guarantee of the government of Japan. S&P said its issuer credit ratings on JBIC are based on the bank's public-policy role as the primary governmental financial institution that extends financial facilities to promote and support the Japanese government's external policy objectives. The bank is an integral part of the government's overall mechanism for advancing Japan's relations with foreign countries, S&P added. S&P also said it equalizes its ratings on JBIC with the sovereign credit ratings on Japan as it takes into account the bank's robust policy role and the strong direct government support that it receives.
Building society-merger plan backed
CBS Canterbury and the Loan and Building Society have received independent backing for their merger proposal and say they will not be distracted by the possibility of a future super merger. The societies have played down any involvement of Auckland's Southern Cross Building Society (SCBS) in the merger process, saying the two-way tie-up will take a year to bed down. That could put a damper on the immediate aspirations of Southern Cross "Rich List" members Geoff Ricketts, Robin Congreve and Christopher Mace towards industry consolidation. The Ashburton-based societies are also keeping details of the appraisal reports which says the two-way proposal is fair private for the moment. "We do have to provide the shareholders with full detail but that will be done in due course ...
15.11.2007: Meldung: Tetra Tech Reports Q4 Results
Tetra Tech, Inc. (NASDAQ:TTEK) today announced results for the fourth quarter ended September 30, 2007. The Company exceeded its earnings and revenue guidance for the quarter, delivering growth of 20.0% and 9.9% in EPS and revenue, respectively, and achieving new record backlog. Fourth Quarter Results Revenue in the quarter was $434.8 million, up 9.9% from $395.6 million, and revenue, net of subcontractor costs, was $275.5 million, up 9.8% from $250.9 million for the same quarter last year. Income from operations for the quarter was $24.5 million, up 22.3% from $20.0 million for the same quarter last year. Net income for the quarter was $14.1 million, up 19.7% from $11.8 million for the same quarter last year. Diluted earnings per share (EPS) for the quarter was $0.24. This represents a 20.0% increase from $0.20 for the same quarter last year.
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