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Monday, November 24, 2008

SBI signs Joint Venture Agreement with Insurance Australia Group

State Bank of India (SBI) has informed that the Bank has signed on November 24, 2008, a Joint Venture Agreement with Insurance Australia Group, to form a Joint Venture Company which will be engaged in General Insurance business in India. The formation of the Company will be subject to receipt of necessary regulatory clearances / approvals, SBI and IAG, subject to regulatory approval, will hold 74% and 26% respectively of the equity in the new Company.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 26
21:00 4-Week Bill Auction 1 4.00% 4.06%
22:30 7-Year Note Auction 1 4.022% 4.194%
22:45 Fed's Barr speech 2
Friday, Jun 27
03:30 ANZ – Roy Morgan Consumer Confidence 2 98.8 92.9
04:30 Fed's Kashkari speech 2
17:00 Fed's Williams speech 2
18:00 Personal Spending 2 0.1% 0.2%
18:00 Personal Consumption Expenditures - Price Index (MoM) 2 0.1% 0.1%
18:00 Personal Income (MoM) 2 0.3% 0.8%
18:00 Core Personal Consumption Expenditures - Price Index (MoM) 3 0.1% 0.1%
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