Some of the new international directors include: Julian Agnew, Greg Green, Suphin Mechuchep, Mike Batchelor and Andrew Groom
Jones Lang LaSalle Incorporated, has named 24 colleagues across the world at Jones Lang LaSalle and LaSalle Investment Management to international director, the firm's top leadership group. They join the select group of international directors who are recognised for delivering exceptional results for clients and driving the firm's growth.
Colin Dyer, chief executive officer of Jones Lang LaSalle, said, "Our international directors have built successful careers connecting with clients and colleagues across the world to create superior value. As we congratulate them on achieving this latest distinction, we expect them to use their skills and experience to generate continued growth and lead us into new markets and service areas."
Some of the new international directors include: Julian Agnew (London), Greg Green (New York), Suphin Mechuchep (Bangkok), Mike Batchelor (Singapore) and Andrew Groom (Frankfurt).
Fitch has revised the outlook on Vijaya Bank to negative from stable due to increase dependence on wholesale funds
Global rating agency Fitch has revised the outlook on Vijaya Bank to negative from stable due to increase dependence on wholesale funds.
The negative outlook reflects the bank's stressed funding profile at end-March 2011 due to its increased dependence on wholesale funds, particularly certificates of deposits (CD), Fitch said in a statement.
While the reliance reduced in 2009-10, it reversed in the following year with loan to customer deposits (excluding CD) of 89% at end-March 2011, significantly higher than most government banks, it said.
Rating outlook indicate the direction a rating is likely to move over a one-to-two-year period.
The rating agency noted that the resulting refinancing pressures can be mitigated to some extent by the bank's status as a government bank, it said.
Nevertheless, high institutional funding could significantly impact its net interest margins (NIMs) in the present rising interest rate scenario, it said.
The outlook could be revised back to Stable if there is a sustainable improvement in the bank's funding profile and profitability, and stabilisation in asset quality.
The bank's funding from bulk deposits remains high (around 44% of total deposits 2010-11), and it has increased its share of short-term CD to play on the yield curve, thereby creating significant asset liability tenure gaps, it said.
This presents significant interest rate and refinancing risks, especially in light of high amount of CDs that are expected to be due for refinancing during the same time frame, it said.
RBI will soon start issuing bank notes of Rs500 denomination in packets, which may not be sequentially numbered, for easier transactions
The Reserve Bank of India has said it will soon start issuing bank notes of Rs500 denomination in packets, which may not be sequentially numbered, for easier transactions.
The measure has been announced to increase operational efficiency, the RBI said in a statement.
"With a view to enhancing operational efficiency and cost effectiveness in bank note printing at banknote presses, it has been decided to issue... fresh banknotes of Rs500 denomination in packets which may not necessarily all be sequentially numbered," it said.
The apex bank said such kind of practice is prevalent in other countries.
"Packets of banknotes in non-sequential number will, as usual, have hundred notes," the statement said.
RBI said the bands of the packets containing the banknotes in non-sequential number will have the legend "The packet contains 100 notes not numbered sequentially" to avoid any confusion.