Sydney - The 700-billion-US-dollar bailout package being thrashed out in the US Congress is more likely to reinforce rather than curb the risky financial dealings of investment bankers, Australia's stock exchange head said Sunday.
Maurice Newman, the chairman of the Australian Securities Exchange (ASX), warned that the government paying top-dollar for worthless assets would worsen the predicament of Wall Street.
"The moral hazards which are being created in the United States right now - the idea that more oversight, more regulation, the automatic default whenever there's a problem will get you out of trouble - will only make the problem worse," Newman told local television.
US legislators worked behind closed doors through Saturday seeking agreement on a US finance rescue plan as a weakened US President George W Bush wrestled with a revolt from within his own Republican ranks on a tense Capitol Hill.
The Bombay Stock Exchange, the country's oldest exchange will launch exchange-traded rupee futures on October 1. 
on depressing reactions including delay in US bailout plan, closing of America’s second biggest banking institution caused a global meltdown. 
the Application Supported against Blocked Amount (Asba) system for cases pertaining to rights issues. This would start the reform process in the primary capital market. Application Supported against Blocked Amount (Asba) system is currently applicable only to initial public offerings (IPOs) for retail investors only. The rights of Tata Motors and Sadhana Nitro Chem are coming on September 29 and these would also come under ASBA.
