India good investment destination, says CSFB: India is one of the best places in Asia for investment because of its inherent strengths that are different from the rest of the region, says a report on compiled by Credit Suisse First Boston. "Our risk adjusted return work shows that India is the second best in the region after Hong Kong. This is compelling," says the report.

Sebi suspends Bhubaneshwar SE member: Sebi has suspended Anjani Kumar Singh, a member of the Bhubaneshwar StockExchange, till the payment of the prescribed fee to Sebi. The suspension will come into effect on August 25 in terms of sub-regulation (3) of Regulation 29 of Sebi (Stock Brokers and Sub-brokers) Regulations, 1992, for non-payment of Sebi's registration fees.

Regulator suspends 3 merchant bankers: Sebi has suspended the certificates of registration of three merchant bankers for non-payment of fees due to it for the year 1996-97. The three merchant bankers are Gazi Securities, Gujarat Fiscon and Indo Pacific Securities.

Additional volatility margins: BSE has decided to impose additional volatility margins on the purchase positions of the following stocks with effect from August 17: Sri Vishnu Cements (40 per cent), Bombay Oxygen Corporation (30 per cent), Astra-IDL (30 per cent), Corn Products (20 per cent), Rolta India (20 per cent) and SIRIS (20 per cent).

Accounting year changes: The following companies have intimated the BSE about the change in their accounting year: Vatsa Music(May 31, 1997 to July 31, 1998) and Vatsa Corporation (August 31, 1997 to October 31, 1998).

Special margins on 7 scrips: BSE has decided to impose special margins on the following infotech stocks with effect from August 17: BFL Software (Rs 125), Cyberspace Info (Rs 10), Globe Stock (Rs 3), Nucleus Software (Rs 6), Ram Informat (Rs 7), Rolta India (Rs 20) and Vjil Consult (Rs 9).

New norms on negotiated deals take effect: BSE on Monday implemented the guidelines issued by Sebi on negotiated deals. The exchange has made the necessary changes in the BOLT software for the immediate dissemination of the deals as per Sebi rules.

Skindia Index up 2.44%: The Skindia GDR Index moved up by 2.44 per cent to 572.17 points on August 14. The Skindia GDR Index p/e ratio shot up by 2.17 per cent to 13.19 on August 14 compared with 12.91 on August 13. Top gainers included JCT, Crompton Greaves and CESC which while losers included EI Hotels, Gujarat Ambuja Cement and L&T.

Tokyo end below15,000 level: Japanese share prices closed 2.2 per cent lower on Monday, falling below the crucial 15,000-point level, depressed by last week's easier tone on Wall Street, concerns over the outlook for Asian economies and the yen's weakness against the dollar. The Nikkei-225 dropped 329.27 points to end at 14,794.66.

European stocks down in early trade: European share prices fell sharply early on Monday, in the wake of crushing losses in Russia, after the central bank announced a de facto de valuation of the ruble and 90-day foreign debt repayment moratorium, and further we akness in Japan. The FT-SE 100 index of leading shares fell by 40.3 points to 5,414.7 points. In Paris, the CAC 40 index opened 76.26 points lower at 3,918.65 points and in Frankfurt, the DAX 30 index opened 90.38 points lower at 5,383.34 points. The downturn followed a reversal of policy in Russia, where president Boris Yeltsin had stated last week that the embattled ruble would not be devalued.

Shanghai shares plunge asflood situation worsens: Share prices plunged 6.1 per cent on the Shanghai Stock Exchange (SSE) on Monday as concerns over the economic damage caused by this year's floods hit the market, dealers said. The SSE's barometer composite index fell 71.61 points to 1,096.41 at the end of the morning session. The main factor bearing down the market was the deteriorating flood situation and fears of the impact on China's economic growth and the burden the government has had to bear.

S Korean watchdogs pledge quick end to first phase securities shake-up: South Korean securities' watchdogs on Monday pledged they would complete the first phase of a major shake-up of the country's ailing securities firms by the start of October at the latest. A Securities Supervisory Board (SSB) official said the process would likely be completed by the end of next month, or early October, as four troubled firms - Dongbang Peregrine Securities, SK Securities, KLB Securities and Ssangyong Investment Securities - battle toboost their capital ratios.

Call rates end at 9%: The short-term interest rate ruled higher on Monday following heavy demand for funds from corporates in the interbank call money market. The rates opened higher at 6.50-6.75 per cent and hovered around 6.75-7.00 per cent through the day before closing higher at 8.50-9.00 per cent.

Rupee weakens against dollar: The rupee weakened against the dollar on Monday on renewed demand for the greeback on account of the ongoing political uncertainty and a fresh fall in Asian currencies and stocks indices. The rupee closed at 43.17/19 to a dollar, sharply lower from its previous close of 43.09/11, but off its intra-day low of 43.23/25.

No change in gold, silver prices: Both the precious metals remained steady on Monday. Silver .999 and raw ended unchanged at Rs 7,900 and Rs 7,790 per kg on moderate demand from industrial units and common operators. Gold standard mint and 22 carat also remained unchanged at Rs 4,210 and Rs 3,895 per 10 gm onscattered demand from local operators and poor upcountry demand.