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Bank Street

Everything you need to know about Bank Street: news, reviews, in-depth analysis, opinion and more

Everything you need to know about Bank Street: news, reviews, in-depth analysis, opinion and more

RBI set to cap Bank's large Exposure at 25 per cent of Tier 1 Capital

March 29, 2015 at 5:59 PM

The Reserve Bank of India is all set to cap banks' large exposure (LE) to each counterparty, including a group of connected counterparties, at 25 per cent of their Tier 1 capital. It has been come into light by the new announcement made by RBI.

Banking stocks fall on concern new norms may hit profits

May 3, 2012 at 2:54 PM

Mumbai, May 3 (IANS) The share price of banking stocks fell sharply Thursday, a day after the Reserve Bank of India (RBI) announced guidelines for implementing Basel III norms that mandate lenders to keep aside a higher percentage of capital that may hit their profits.

Sensex falls 126 points; auto, realty stocks slump

May 3, 2012 at 12:46 PM

Mumbai, May 3 (IANS) A benchmark index for Indian equities markets was trading 126 points down at around noon Thursday, led by selling pressure in auto, realty and banking stocks due to sluggish global cues.

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Romney's aide claims 'Cameron was taken for a ride by Obama'

May 3, 2012 at 10:30 AM

Washington, May 3 (ANI): A senior aide to US Republican presidential contender Mitt Romney has reportedly said that British Prime Minister that David Cameron was 'taken for a ride' by Barack Obama when he praised the president during a recent visit to the White House.

Britain refuses asylum request from Moscow bankers

May 3, 2012 at 6:38 AM

London, May 3 (IANS/RIA Novosti) Britain has refused to grant political asylum to two former officials of a Moscow bank, after they were placed on the Interpol wanted list on charges of fraud involving government funds.

France's far-right leader Le Pen to cast 'blank vote' in presidential runoff

May 2, 2012 at 10:06 PM

Paris, May 2 (ANI): French far-right leader Marine Le Pen has said that she would cast a 'blank ballot' in Sunday's presidential elections, delivering a strong message that she does not back either candidate.

Mukherjee to attend ADB meet in Manila

May 2, 2012 at 8:30 PM

New Delhi, May 2 (IANS) Finance Minister Pranab Mukherjee is scheduled to visit Manila this week to attend the annual board of governors' meet of Asian Development Bank (ADB).

Bangladesh foreign currency reserves up

May 2, 2012 at 6:40 PM

Dhaka, May 2 (IANS) Bangladesh's foreign currency reserves rose to $10.19 billion in April after the International Monetary Fund (IMF) handed over the first instalment of its loan to the country.

Dow Jones industrial average hits highest mark since 2007

May 2, 2012 at 1:14 PM

New York, May 2 (ANI): The Dow Jones industrial average reached its highest close in more than four years following an accelerated growth in its manufacturing within 10 months, an industry survey firm has revealed.

Facebook sets IPO date for May 18: Report

May 2, 2012 at 11:30 AM

Washington, May 2 (ANI): The roadshow for social networking giant Facebook's Initial Public Offering has been scheduled to start on Monday, according to a report.

Emirates Islamic Bank profits up

May 1, 2012 at 11:54 PM

Dubai, May 1 (IANS/WAM) The Emirates Islamic Bank announced Tuesday that its operating profits rose to 138 million dirhams (about $16 million) at the close of the first quarter of 2012.

Ponting not going anywhere: Micky Arthur

May 1, 2012 at 7:30 PM

Sydney, May 1 (IANS) Australian coach Mickey Arthur said Tuesday that former captain Ricky Ponting was very much in the reckoning to play in next year's Ashes series in England.

Sri Lanka's annual inflation rises to seven-month high

May 1, 2012 at 5:38 PM

Colombo, May 1 (Xinhua-ANI): Sri Lanka's annual inflation rate rose to 6.1 percent last month reaching a seven-month high compared to 2011, showed latest data on Tuesday.

Sri Lanka mobile phone connections exceed population

May 1, 2012 at 5:38 PM

Colombo, May 1 (Xinhua-ANI): The mobile telephone users in Sri Lanka have increased rapidly over the year 2011 with more than 105 telephone connections for 100 people, a spokesman said on Tuesday.

Deadly twin bombings in Syria suggest growing Al Qaeda role in ongoing protests

May 1, 2012 at 5:06 PM

Damascus, May 1(ANI): Deadly twin suicide bombings in Idlib, Northwest Syria have suggested the growing role of al Qaeda and radical Sunni Islamist groups in the ongoing protests, a report has said.

Sri Lanka has more mobile phones per person

May 1, 2012 at 3:06 PM

Colombo, May 1 (IANS) The mobile telephone users in Sri Lanka have increased rapidly over the year 2011 with more than 105 telephone connections for 100 people, authorities said Tuesday.

Australia cuts cash rate to boost growth

May 1, 2012 at 2:50 PM

Sydney, May 1 (IANS) The Reserve Bank of Australia (RBA) announced Tuesday that it decided to cut the official interest rate by 50 basis points.

Delegates begin arriving for ADB's 45th annual meeting in Manila

May 1, 2012 at 1:22 PM

Manila, May 1, (Xinhua-ANI): Delegates have begun arriving at the Philippine International Convention Center to register for the Asian Development Bank's (ADB) 45th Annual Meeting of its Board of Governors, which begins Wednesday, a ADB statement said Tuesday.

Your card details could be 'robbed by radiowave'

April 30, 2012 at 10:26 PM

London, April 30 (IANS) Millions of credit and debit card users could be "robbed by radiowave" because of a new contactless technology, the Daily Mail reported.

Vijaya Bank net zooms 235 percent in Q4

April 30, 2012 at 6:18 PM

Bangalore, April 30 (IANS) State-run Vijaya Bank posted net profit of Rs.181 crore for the fourth quarter (January-March) of fiscal 2011-12, registering a whopping 235 percent jump from Rs.54 crore the same quarter an year ago (2010-11) and 46 percent increase sequentially from Rs.124 crore in third quarter (Oct-Dec) of FY 2012.

Katy Perry's NYC marital home sold for $2.75 million

April 30, 2012 at 5:39 PM

New York, Apr 30 (ANI): A mystery buyer has bought Katy Perry's luxurious, 1,500-square-foot TriBeCa duplex penthouse.

Fraudsters can steal your card details using contactless technology

April 30, 2012 at 4:50 PM

London, April 30 (ANI): Millions of shoppers are now able to buy goods by simply waving their card in front of a reader at the tills, even if it is still in a wallet or a purse, thanks to a new contactless technology being brought in by banks.

Cameron denies supporting Murdoch empire in return for favourable coverage

April 30, 2012 at 4:11 PM

London, Apr 30 (ANI): British Prime Minister David Cameron has said that there was no agreement between him and media tycoon Rupert Murdoch to support News Corp's business interests in return for favourable coverage.

Sensex up 76.94 points

April 30, 2012 at 3:54 PM

Mumbai, April 30 (IANS) Led by good buying support for information technology (IT) and bank scrips, a benchmark index for Indian equities markets was trading 76.94 points higher around the 2 p.m. trade session Monday.

Egyptian military bends to Islamist demand of forming new govt

April 30, 2012 at 3:14 PM

Cairo, Apr 30 (ANI): Egypt's ruling military has said that it would appoint a new cabinet in the next 48 hours, apparently conceding to the Islamist-dominated parliament's demand for a new government.

'Think Like a Man' tops weekend box office for 2nd time with $18m

April 30, 2012 at 3:14 PM

Washington, Apr 30 (ANI): 'The Five-Year Engagement', pegged by some to rule the rankings, managed only a fifth-place debut at the weekend box office, while the surprise romantic-comedy hit 'Think Like a Man' was a surprise number 1 for the week in a row.

Moody's may downgrade India's three top private lenders

April 30, 2012 at 2:02 PM

Mumbai, April 30 (IANS) Global ratings agency Moody's Investors Service said Monday it has placed on review India's three top private sector lenders ICICI Bank, HDFC Bank and Axis Bank for possible downgrade.

Bank of India quarterly net profit rises 93 percent

April 30, 2012 at 2:02 PM

Mumbai, April 30 (IANS) State-owned Bank of India Monday reported an increase of 93 percent in net profit at Rs.952.73 crore for the quarter ended March 31 against Rs.493.64 crore during the like period of the previous financial year.

Sensex up 160.85 points in afternoon trade

April 30, 2012 at 1:22 PM

Mumbai, April 30 (IANS) A benchmark index for Indian equities markets was trading 160.85 points higher in the afternoon session Monday, led by good buying support for information technology (IT) and bank scrips.

Google releases report regarding street data collection probe

April 29, 2012 at 4:08 PM

Google has released a report in connection with the charge by US Federal Communicating Commissions enquiry

I don't need opposition leader permission to enter National Assembly: Gilani

April 29, 2012 at 1:06 PM

Lahore, Apr 29(ANI): Pakistan Prime Minister Yousuf Raza Gilani has said he does not need any opposition leader's permission to enter the National Assembly (NA), as he was a unanimously elected prime minister and member of parliament.

Saudi Arabia closes embassy in Egypt amid protests over detention of activist

April 29, 2012 at 10:58 AM

Cairo, Apr 29 (ANI): Saudi Arabia has closed its embassy in the Egyptian capital and recalled its ambassador in the wake of protests over the arrest of a human rights lawyer.

Prostitution scandal: US Secret Service tries image repair

April 28, 2012 at 2:10 PM

Washington, April 28 (IANS) The US Secret Service, disgraced by a prostitution scandal, Friday promulgated a set of new conduct guidelines for its agents, as it emerged that agents had in 2000 visited a Moscow nightclub known for raucous parties.

US Secret Service agents visited Moscow strip club

April 28, 2012 at 8:18 AM

Moscow, April 28 (IANS/RIA Novosti) Ahead of a state visit to Russia by then president Bill Clinton, US Secret Service agents had visited a downtown Moscow nightclub known for raucous parties in 2000, the Wall Street Journal has reported.

Remittances to India rose to $64 billion in 2011: World Bank

April 27, 2012 at 7:22 PM

New Delhi, April 27 (IANS) India remains the top recipient of money from diaspora as total remittance flow to the country is estimated to reach $64 billion in 2011, almost three percent of the country's gross domestic product (GDP), according to World Bank data.

Sensex closes flat; ICICI rallies on Q4 earnings (Roundup)

April 27, 2012 at 5:54 PM

Mumbai, April 27 (IANS) A benchmark index for Indian equities markets Friday closed flat amidst choppy trade. ICICI Bank emerged the top gainer after the private lender announced robust fourth quarter earnings.

MJ's brothers recording first album in 25 years

April 27, 2012 at 5:46 PM

London, Apr 27 (ANI): Michael Jackson's brothers are set to record their first new material together in almost 25 years after their summer tour, Jackie Jackson has revealed.

ICICI Bank quarterly net profit rises 31 percent

April 27, 2012 at 4:26 PM

Mumbai, April 27 (IANS) India's largest private sector lender ICICI Bank Friday posted an increase of 31 percent for the quarter ended March 31 at Rs.1,901.76 crore due to a decline in bad debts.

Sensex down 19.46 points; ICICI Bank stock rallies

April 27, 2012 at 3:46 PM

Mumbai, April 27 (IANS) A benchmark index for Indian equities markets was trading 19.46 points down around 2.00 p.m. Friday. Amidst the choppy session of trade, ICICI Bank's scrip came out the top gainer after it lender announced robust fourth quarter earning results.

Jayalalithaa opposes rate hike on rural infra loans

April 27, 2012 at 3:22 PM

Chennai, April 27 (IANS) Tamil Nadu Chief Minister J.Jayalalithaa Friday urged Prime Minister Manmohan Singh not to raise the interest rates on loans provided under the Rural Infrastructure Development Fund (RIDF).

India needs to fast-track reforms, cut fiscal deficit to support slowing economy: ADB

April 27, 2012 at 1:22 PM

New Delhi, April 27 (ANI): The Asian Development Bank (ADB) has said India requires to fast-track reforms and cut down fiscal deficit to support a slowing economy.

Sensex remains choppy; ICICI Bank, M&M rally

April 27, 2012 at 1:06 PM

Mumbai, April 27 (IANS) A benchmark index for Indian equities markets was trading 22 points higher in the afternoon session Friday, led by good buying support in ICICI Bank scrips on expectations of robust earnings.

Meet the drinking, smoking and swearing nanny hired by David Cameron

April 27, 2012 at 11:30 AM

London, Apr 27 (ANI): David and Samantha Cameron have finally hired an Australian traveller as a nanny, after conducting a series of long distance interviews over the Internet.

World Bank to open office in Myanmar

April 27, 2012 at 5:54 AM

Washington, April 27 (IANS) The World Bank will open an office in Myanmar in June, a bank official said Thursday.

RBI not to interfere in bank service charges

April 26, 2012 at 7:42 PM

Hyderabad, April 26 (IANS) The Reserve Bank of India (RBI) will not stop banks from collecting charges for various services or insist on a minimum balance, as it is the choice of the customer where to open account, Deputy Governor K.C. Chakrabarty said here Thursday.

S&P downgrading is an alarm for India, but not panic: Pranab

April 26, 2012 at 4:19 PM

Finance Minister Pranab Mukherjee Wednesday stated that credit rating agency Standard & Poor's (S&P) recent move to lower down India's rating from balance to negative is a timely warning signal, but he however assured that it is not a panic situation.....................

India's financial system still strong, says RBI deputy governor

April 26, 2012 at 3:37 PM

Hyderabad, April 26 (IANS) India's financial system was strong and there was nothing to worry about, Reserve Bank of India (RBI) Deputy Governor K.C. Chakrabarthy said Thursday after Standard & Poor's (S&P) scaling down of the country's credit rating outlook to negative.

ADB aid to developing countries tops $21.7 bn in 2011

April 26, 2012 at 12:58 PM

Manila, April 26 (IANS) The Asian Development Bank (ADB) approved $21.72 billion in financing operations to Asian developing countries in 2011, a 14.5 percent year-on-year increase, according to its 2011 Annual Report.

Food prices rise on costlier oil: World Bank

April 26, 2012 at 5:53 AM

Washington, April 26 (IANS) Global food prices rose by eight percent in the first three months of 2012 due to higher oil prices, adverse weather and strong demand in Asia, the World Bank said in its latest Food Price Watch report Wednesday.

S&P lowers outlook on SBI, ICICI and HDFC Bank

April 25, 2012 at 7:57 PM

Mumbai, April 25 (IANS) Global ratings agency Standard & Poor's Wednesday cut its outlook to negative from stable on 11 financial institutions, including the top three banks State Bank of India, ICICI Bank and HDFC Bank, to negative from stable, but kept their ratings unchanged.

Pak SC rejects Interior Ministry report in 'ISI funding politicians' case

April 25, 2012 at 5:26 PM

Islamabad, Apr 25 (ANI): The Supreme Court (SC) which resumed hearing of the Asghar Khan case, pertaining to the alleged distribution of funds by the ISI to politicians, declared the report submitted by the Interior Ministry as unacceptable, saying that the report was based on memories of Interior Minister Rehman Malik.

High inflation smothers salaries in Italy

April 25, 2012 at 2:56 PM

Rome, April 25 (IANS/AKI) Salaries in Italy have touched their lowest in real terms in almost 17 years, according to fresh data.

Sensex slumps 117.57 points, Wipro tanks

April 25, 2012 at 2:41 PM

Mumbai, April 25 (IANS) A benchmark index for Indian equities markets was trading 117.57 points lower in the afternoon session Wednesday, affected by a decline in the shares of IT and power firms whose share prices came down by over 7 percent.

Standard and Poor's revises India outlook to 'negative' from 'stable'

April 25, 2012 at 2:01 PM

Washington, Apr 25 (ANI): United States-based rating agency Standard and Poor's has revised India's economic outlook to negative from stable, citing a slowdown in investment and economic growth and a widening in the current account deficit.

Sri Lanka to have blood pressure meters in public places

April 25, 2012 at 10:24 AM

Colombo, April 25 (IANS) Sri Lanka will install meters in Colombo's public places to measure blood pressure of people, in a country where at least 350 die every day due to heart attacks, hypertension and respiratory diseases.

US stocks end mixed amid strong earnings

April 25, 2012 at 7:20 AM

New York, April 25 (IANS) US stocks ended mixed Tuesday as investors weighed stronger-than-expected corporate earnings against lackluster economic data.

Did Berlusconi offer to 'cover Ruby in gold' to keep her quiet?

April 24, 2012 at 11:57 AM

London, April 24 (ANI): The teenage belly dancer allegedly paid by Silvio Berlusconi for sex told a friend that the former Italian prime minister offered her to give all the money she wants and to cover her in gold to keep silence about their relationship, according to newly emerged wiretaps.

Wall Street fall on European concerns

April 24, 2012 at 9:32 AM

New York, April 24 (IANS) US stocks slipped Monday as investors were concerned about new developments in Europe's debt crisis and political turmoil.

SBI, Allahabad Bank cut interest rates

April 23, 2012 at 8:12 PM

Mumbai, April 23 (IANS) The State Bank of India (SBI), the country's largest lender, said Monday that it will cut interest rates on term deposits by upto 1 percent.

Rolling Stones' volatile relationship to be explored in new movie

April 23, 2012 at 5:48 PM

London, Apr 23 (ANI): The volatile relationship between Mick Jagger and Keith Richards is going to be made into a film.

Ex Pak army chief opposes judicial commission probe of secret funds

April 23, 2012 at 3:40 PM

Islamabad, Apr 23(ANI): Former Pakistan army chief General (retd) Mirza Aslam Beg has opposed the idea of forming a judicial commission to probe the distribution of secret funds to politicians and accused former Mehran Bank head Younus Habib of prolonging the matter by forming the commission.

'Think Like a Man' topples 'Hunger Games' to take box office No1 spot

April 23, 2012 at 3:08 PM

New York, Apr 23 (ANI): The ensemble relationship comedy 'Think Like a Man' raked in a whopping 33 million dollars over the weekend box office, thus dethroning 'The Hunger Games' from the top spot.

Michelle Obama set to become most televised First Lady

April 23, 2012 at 3:08 PM

Washington, Apr 23 (ANI): Michelle Obama has already outpaced former first ladies, such as Laura Bush and Hillary Clinton, in a number of TV appearances she's made over the first four years of a president's term.

No leadership vacuum in India, says Pranab

April 23, 2012 at 11:00 AM

Washington, April 23 (IANS) Finance Minister Pranab Mukherjee has rejected a suggestion from corporate America that a leadership "vacuum" was chipping away at India's investment climate and asserted that India has a "very powerful, strong and acceptable prime minister".

Business sentiments worse than reality: Adi Godrej (Interview)

April 23, 2012 at 9:24 AM

New Delhi, April 23 (IANS) The Indian economy and businesses are passing through difficult times due to lack of reforms and governance, but the sentiments are even worse than the reality, said Adi Godrej, chairman of the Godrej Group.

'India has substantially reduced oil imports from Iran'

April 22, 2012 at 11:08 PM

Washington, April 22 (IANS) In the face of US sanctions on Iran, India has significantly reduced its oil imports from the country, though rising oil prices have caused immense problems for the Indian economy, Finance Minister Pranab Mukherjee said here Sunday.

India seeks quick ratification of quota reforms

April 22, 2012 at 10:36 PM

Washington, April 22 (IANS) Indian Finance Minister Pranab Mukherjee has urged lagging International Monetary Fund (IMF) members to move quickly to ratify quota and governance reforms that would give developing nations a greater voice in running the 188-nation global lender.

India continuing on the reform path: Mukherjee

April 22, 2012 at 9:00 PM

Washington, April 22 (IANS) Rejecting opposition charges of a policy paralysis on reforms back home, Finance Minister Pranab Mukherjee today that the United Progressive Alliance was going ahead with a series of reforms to spur the economy.

Anorexia may be caused by brain abnormality

April 22, 2012 at 2:29 PM

London, April 22 (ANI): A new study has suggested that anorexia may be triggered by a defect in the brain, offering new hope that the potentially deadly eating disorder can be treated.

Protect 'innocent bystanders' from global financial crisis: India

April 22, 2012 at 12:53 PM

Washington, April 22 (IANS) As the International Monetary Fund (IMF) doubled its lending power with over $430 billion pledged to a reinforced safety net to bail out countries during global financial crises, India stressed that contributions should be voluntary and not linked with future voice or governance reform and should be able to bail out "innocent bystanders" affected by them.

World Bank, IMF call for inclusive growth, poverty reduction

April 22, 2012 at 11:09 AM

Washington, April 22 (Xinhua-ANI): The World Bank and the International Monetary Fund (IMF) have called for further efforts on inclusive growth and poverty reduction amid fragile global recovery.

Fugitive held in Britain after framing his wanted poster

April 22, 2012 at 9:09 AM

London, April 22 (IANS) A convict on the run from a British jail was caught by police during a raid when it was found that he had framed his wanted poster by putting it on the wall of his hideout.

Yes Bank to focus on retail segment for growth

April 21, 2012 at 8:29 PM

Chennai, April 21 (IANS) Privately-owned Yes Bank Ltd will train its focus on retail banking in order to grow its current account and savings account (CASA) portfolio, said a senior bank official here Saturday.

'21 Jump Street' - It's laughter all the way (IANS Movie Review)

April 21, 2012 at 7:33 PM

Film: '21 Jump Street'; Cast: Jonah Hill, Channing Tatum, Ice Cube; Director: Phil Lord and Chris Miller; Rating: ***1/2

Patnaik shocked at Odisha student's killing in US

April 21, 2012 at 7:33 PM

Bhubaneswar, April 21 (IANS) Chief Minister Naveen Patnaik Saturday expressed shock over the murder i n the US of a 24-year-old student from Odisha.

Economic adviser Basu is speaking the language of IMF and World Bank, says BJP

April 21, 2012 at 7:01 PM

Varanasi, Apr 21 (ANI): Bharatiya Janta Party (BJP) leader Murli Manohar Joshi on Saturday flayed the chief economic adviser Kaushik Basu for his remarks on economic reforms in the country, adding he was speaking the language of the International Monetary Fund (IMF) and World Bank.

IDBI Bank quarterly net profit rises to Rs.770.78 crore

April 21, 2012 at 5:17 PM

New Delhi, April 21 (IANS) IDBI Bank Saturday reported a net profit of Rs.770.78 crore for the quarter ended March 31, against Rs.516.25 crore logged in the like period of the previous financial year.

IMF arms itself with $430 bn new funding

April 21, 2012 at 9:01 AM

Washington, April 21 (IANS) The International Monetary Fund has almost doubled its "fire power" to protect the world economy against deepening debt turmoil in Europe with the Group of 20 nations, including India, pledging $430 billion in new funding.

G-24 nations to focus on job creations and effective social protection for poor: Mukherjee

April 20, 2012 at 10:29 PM

Washington, Apr 20 (ANI): Expressing concern over the current global economic scenario, Finance Minister Pranab Mukherjee on Friday said the G-24 nations will focus on job creation and effective social protection for the poor and the vulnerable.

Kaushik Basu clarifies on economic reforms statement

April 20, 2012 at 10:29 PM

Washington, Apr 20 (ANI): Following the controversy around the statement made at the Carnegie Endowment for International Peace on economic reforms in the country, Chief Economic Advisor, Ministry of Finance, Dr. Kaushik Basu on Friday clarified that the central message of his talk was the possible European crisis in 2014 and not India's 2014 general elections.

Dhumal wants lower interest rate on NABARD loans

April 20, 2012 at 7:57 PM

Shimla, April 20 (IANS) Himachal Pradesh Chief Minister Prem Kumar Dhumal Friday called for a cut in the interest rate on the National Bank for Agriculture and Rural Development (Nabard) loans saying high rates would hit rural projects in the state.

Government will bring economy back on growth path: Ahluwalia

April 20, 2012 at 5:49 PM

New Delhi, April 20 (IANS) The Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, Friday played down the row over Chief Economic Adviser Kaushik Basu's comment on the slow pace of economic reforms, saying reforms are always needed to be done and the government is focussing on bringing the economy back on track.

World Bank to create global partnership for social accountability

April 20, 2012 at 1:57 PM

Washington, April 19 (Xinhua-ANI): The World Bank's Board of Executive Directors has approved in principle the creation of the Global Partnership for Social Accountability (GPSA), its latest effort to support civil society organizations (CSOs), the Washington-based Bank announced on Thursday.

Global economic recovery at critical juncture: WB chief economist

April 20, 2012 at 1:57 PM

Washington, April 19 (Xinhua): The global economic recovery is facing a critical moment although some optimism has returned in recent months, and collective global action is critical for sustaining the recovery momentum, World Bank chief economist Justin Yifu Lin has said.

World Bank calls for more trade within South Asia

April 20, 2012 at 12:37 PM

Washington, April 20 (IANS) South Asia needs more political will to embrace regional trade cooperation for the benefit of the lagging region, said a senior World Bank official.

Bank of America earnings beat estimates

April 20, 2012 at 12:05 PM

New York, April 20 (IANS) Bank of America Corp. released lower earnings for the first quarter Thursday, but the results still beat Wall Street's estimates as the credit quality improved.

India asks G-20 to nake 'credible and ambitious' action plan

April 20, 2012 at 9:49 AM

Washington, April 20 (IANS) India has called upon G-20 nations, the world's top economies, to work out a "credible and ambitious" action plan to put the global economy firmly on the path of recovery as also promote strong, sustainable and balanced growth.

Banks lower interest rates taking cues from RBI policy

April 19, 2012 at 7:41 PM

Mumbai, April 19 (IANS) Leading lenders including ICICI Bank and Punjab National Bank Thursday announced cut in both lending and deposit rates, just two days after the Reserve Bank of India lowered key policy rates.

Banks cut lending rate, deposits rate

April 19, 2012 at 6:20 PM

Following the order of Finance Ministry to cut the lending rate as Reserve Bank of India, the master bank on Tuesday cut its policy rate more than expected to 50 basis points (bps), two state run and one private sector banks on Thursday announced to reduce their lending and deposit rates by 25 bps (0.25%)...................

Sri Lanka's Central Bank under fire for fixing statistics

April 19, 2012 at 5:41 PM

Colombo, April 19 (Xinhua-ANI): Sri Lanka's Central Bank is under fire for allegedly rigging per capita income statistics to show a higher figure, a main opposition MP charged here on Thursday.

Egyptian presidential candidate warns Brotherhood's win will bring back autocratic rule

April 19, 2012 at 4:45 PM

Cairo, Apr 19 (ANI): Former Egyptian foreign minister Amr Moussa has warned that if the Muslim Brotherhood's candidate wins the upcoming presidential elections, and if the political wing dominates the parliament, it may yield a one-party system that would brook 'no serious debate' in public.

IndusInd Bank quarterly net profit rises 30.5 percent

April 19, 2012 at 4:21 PM

Mumbai, April 19 (IANS) Private sector IndusInd Bank Thursday reported a 30.5 percent hike in net profit at Rs.223.38 crore during the quarter ended March 31 against Rs.171.16 crore in the like period of the previous financial year.

Sarkozy falls further behind Socialist challenger Hollande ahead of French presidential elections

April 19, 2012 at 1:25 PM

Paris, Apr 19 (ANI): French President Nicolas Sarkozy has lost ground to his Socialist Party opponent, Fran?ois Hollande, just days before the first round of voting in the presidential election, a latest poll has revealed.

Citigroup CEO Vikram Pandit's pay package slammed by Wall Street shareholders

April 19, 2012 at 1:25 PM

Washington, Apr 19 (ANI): The 15 million dollar pay package of Vikram Pandit, Citigroup Inc. Chief Executive has been slammed by the bank's shareholders, who are demanding that it be toned down.

World Bank wants effective social safety nets

April 19, 2012 at 12:45 PM

Washington, April 19 (IANS) Three out of five people in developing countries lack effective social safety net coverage as they struggle to forge ahead through global financial volatility and food and fuel price hikes, the World Bank said.

US business groups to protest tax law changes in India

April 19, 2012 at 11:01 AM

Washington, April 19 (IANS) A dozen US business groups have asked US Treasury Secretary Timothy Geithner to raise their concerns with New Delhi that some proposed changes in Indian tax laws, including retroactive tax collection, would spoil India's investment climate for them.

Suu Kyi to visit Britain

April 18, 2012 at 9:09 PM

London, April 18 (IANS) Myanmar's pro-democracy campaigner Aung San Suu Kyi is to make a symbolic visit to Britain after accepting an invitation from British Prime Minister David Cameron.

Switzerland extends sanctions against Iran

April 18, 2012 at 7:41 PM

Geneva, April 18 (Xinhua-ANI): The Swiss government on Wednesday announced its decision to extend its financial sanctions against Iran.

European debt crisis could flare up again: IMF

April 18, 2012 at 4:05 PM

Washington, Apr 18 (ANI): The International Monetary Fund has warned that the European debt crisis might flare up again at any time and send the global economy back into deep recession.

Ronaldinho's brother jailed for money laundering

April 18, 2012 at 3:33 PM

Rio de Janeiro, April 18 (IANS) The brother of former Barcelona and AC Milan star Ronaldinho has been sentenced to five and a half years in jail after being convicted of money laundering.

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