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Infrastructure Development Finance Company (IDFC) Infrastructure Development Finance Company (IDFC) will once again hit the tax-saving infrastructure bond market offering 8.25% compared with 8.30% offered by Power Finance Corporation for 10 years. The IDFC offer, which opens on February 28 for subscription, has a call option after five years. It offers the option to receive interests annually, or the option of receiving it on a cumulative basis at the maturity of the bond. IDFC's new offer is 25 basis points higher than its previous bond issue. In the last two tranches, the infrastructure company raised Rs 1,228 crore on the back of 3.6-lakh applications from investors wishing to save tax. The company is aiming to raise Rs 2,172 crore through its third tranche. The issue closes for subscription on March 16. IDFC is entering the tax-saving bond market at a time when the demand for such bonds is the highest as many individuals invest money in March to save taxes. It would be competing with several other tax-saving bonds issued by its competitors such as IIFCL, L&T Infrastructure and PFC.In the 2010 budget, the government added a new provision under Section 80CCF of...more
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(1888PressRelease) Gold will triumph over dollar when focus returns to US deficit.MIAMI, FL,It may be only a matter of time before the focus turns away from debt-troubled Europe and back to the debt-troubled US. The debacle over the possibility of default and the downgrading of the nation's credit may have faded into the background as Europe's troubles have taken center stage but the problems have not gone away. As the deadline approaches, there is apparently little sign of a satisfactory agreement as to how to deal with the budget deficit. When focus is turned back on the US, the dollar will start to look less appealing and gold will re-emerge as the favored safe haven.Gold has been edging, very slowly, downward against a rising dollar as concerns about the debt issues in Greece and Italy have been in the spotlight. Normally, fear about the economic situation in Europe would be expected to drive up the price of gold but, instead, investors have been looking to the US dollar for a safe haven. If the debt crisis in the US re-emerges, this could change very quickly."Gold is definitely behaving out of character at present," says Bill Hionas of Pan American Metals of Miami. "However,...more
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