Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

Konda Surekha resigns as minister
Minister for women development and child welfare Konda Surekha submitted her resignation to Governor ND Tiwari on Thursday. The minister stated she had resigned as she was unable to continue in a cabinet without former chief minister YS Rajasekhara Reddy. Ever since the death of YSR, Surekha has been pitching for the chief ministership of YS Jaganmohan Reddy, the late chief minister"s son. She had even said earlier that she would resign if Jaganmohan Reddy was not made the chief minister.

Centre seeks UP's response for felling trees without clearance
The Centre has asked Uttar Pradesh to respond to a report on large-scale felling of trees without forest ministry"s clearance in Noida and Lucknow and some other places, the Lok Sabha was informed today.

News of the day

Fund support may go up by over 15%
The gross budgetary support (GBS) for 2010-11 is likely to be 15 per cent more than what was provided for the current financial year. The finance ministry had earlier assured the Planning Commission of at least a 15 per cent increase in GBS but due to inadequate funds for ministries like rural development, education and railways, the commission sought a greater increase.
Public Relations

North-based export companies mull hedging on rising rupee

Worried over an adverse impact on export earnings due to rising rupee against the US dollar, several north Indian export companies are mulling hedging against the volatility of the Indian currency. - Re rises by 30 paise against $ in early trade - Sooner or later - Rising rupee a big worry for exporters - Re at 1-year high as RBI signals rate increase - Re rises by 17 paise per dollar - G-7 finance ministers face dollar concerns Hedging in this context implies entering into an agreement for future transactions based on a specified value of the rupee against the dollar. The export industry has been the worst affected during the economic crisis and was only starting to recover, but the rising rupee has come as a rude shock to the exporting community. "We will certainly go for hedging if the rupee continues to appreciate against the US dollar and breaches a level of Rs 46...In order to minimise losses on export earnings," Ind-Swift Chairman G Munjal said. Similarly, a company in the textile sector Malwa Industries is also weighing options to go for hedging to protect its margins against the appreciating rupee. "If the downward trend of US dollar against rupee sustains or goes below the level of Rs 46, then we will hedge on some of our bookings," company President (Denim Business), Tarun Chawla said. The textile company is one of the biggest exporters of denim fabrics and garments to Europe, the US and the Middle East. The Indian currency is hovering around Rs 46.36 mark and has gained by Rs 1.50 in the last two days. "With the appreciation of the rupee, our margins have been hit hard which is unsustainable..It (rupee rising) has happened when we are still struggling in view of meltdown impact," Panipat-based Handloom Exports Manufacturers Association President Ramesh Verma said. Handloom exporters have asked the government to compensate the exporters in case of any downward fluctuations in the currency to safeguard the interest of the exporting community. The Panipat-based handloom industry exports textiles amounting to a staggering Rs 4,000 crore annually.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009