Winner still to collect $18 mn jackpot prize

SYDNEY – The winner of a $20 million lottery jackpot is yet to collect the prize, two days after the winning ticket was bought in Sydney, a media report said Thursday.

The NSW Lotteries said the winner of the Oz Lotto jackpot, 20 million Australian dollar (about $18 million), who bought the ticket in Sydney … Read the original article on Gaea Times at : Winner still to collect $18 mn jackpot prize.

Euro edges up against dollar, buying $1.3022, as yen continues slide after intervention

Euro up slightly vs dollar, yen continues drop

BERLIN – The euro is up slightly against the dollar ahead of a summit of European Union leaders, while the Japanese yen is down further after the Bank of Japan’s intervention to rein it in.
The 16-nation euro bought $1.3022 in Thursday morning European trading, up from $1.3006 in … Read : Euro edges up against dollar, buying $1.3022, as yen continues slide after intervention.

Sensex ignores rate hike, inflation spike keeps rising

MUMBAI – A benchmark index for Indian equities was back in the green to rule more than 107 points higher in afternoon trade Thursday, shrugging off a hike in key interest rates by the Reserve Bank of India (RBI) and report of a rise in food inflation.

The 30-scrip sensitive index (Sensex) of the … Read more >>>.

China shares fall to 3-week low on fears of lower bank profits after new Basel capital rules

China shares hit 3-week low on bank profit fears

SHANGHAI – Chinese shares fell to a three-week low on fears bank profits might be hurt by new international capital adequacy rules.
The benchmark Shanghai Composite Index lost 50.04 points, or 1.9 percent, to 2,602.46, the lowest close since Aug 25. The Shenzhen Composite Index for China’s smaller … Read more »»».

China rejects Geithner’s criticism over currency, warns pressure might worsen situation

China rejects US pressure over currency
BEIJING – China rejected U.S. Treasury Secretary Timothy Geithner’s criticism of its currency controls and warned Thursday that continued pressure might worsen the situation.

Geithner complained in testimony prepared for two congressional hearings Thursday that China’s currency and other policies are hurting the United States. Critics say Beijing keeps its yuan … Original source on Gaea Times at : China rejects Geithner’s criticism over currency, warns pressure might worsen situation.

India’s annual food inflation balloons to over 15 percent

NEW DELHI – India’s annual food inflation shot up to 15.1 percent for the week ended Sep 4 from 11.47 percent the week before, due primarily to a shift to a new base year for the wholesale price index and fresh weights assigned to commodities.

The index has dramatically risen by as much as 5 percentage … Read more : India’s annual food inflation balloons to over 15 percent.

Asian stocks mostly lower as China shares tumble on concerns banks to raise more capital

Asia markets down as China falls on bank jitters

BANGKOK – Asian and European markets were mostly lower Thursday as China shares tumbled on concerns that banks will need to raise more capital.
But Japan’s market mostly held on to its big gain from the previous day when Tokyo intervened in the currency market for the first … Read more : Asian stocks mostly lower as China shares tumble on concerns banks to raise more capital.

India’s central bank hikes interest rate more than expected to tame inflation

India hikes interest rate more than expected

MUMBAI, India – India’s central bank raised a key interest rate more than expected Thursday – its fifth rate hike this year – as it continues its fight against high inflation.
The Reserve Bank of India raised the repo rate – at which it makes short-term loans to commercial banks … Read more : India’s central bank hikes interest rate more than expected to tame inflation.

EU expected to give green light to South Korea free trade deal at summit

EU expected to clear SKorea free trade deal

BRUSSELS – The European Union’s presidency says the 27-nation bloc is expected to agree to a free trade deal with South Korea after overcoming objections from Italy, which feared the pact would its ailing auto industry.
Belgian Prime Minister Yves Leterme, whose country holds the EU’s rotating presidency, says …. Source  : EU expected to give green light to South Korea free trade deal at summit.

State Bank of India ties up with Oxigen to promote kiosk banking

Mumbai, Sept.16 (ANI-Business Wire India): Oxigen Services Pvt. Ltd and support company “Sahyog Micro Finance Foundation” today announced a unique tie-up with State Bank of India (SBI) to offer banking services by connecting directly to the SBI Core Banking System. Appointing Customer Service Points at …. Original article on Gaea Times at  : State Bank of India ties up with Oxigen to promote kiosk banking.

Sharekhan launches Fortune Finder for stock market investors

Mumbai, Sept.16 (ANI-Business Wire India): Sharekhan Ltd, one of India’s leading retail stock brokerage houses with a strong online trading business, has launched Fortune Finder for the retail investors and traders.

The Fortune Finder will help in taking decisions on when to buy, …. Original article  : Sharekhan launches Fortune Finder for stock market investors.

Highlights of mid-quarter review of India’s monetary policy

MUMBAI – Following are the highlights of the mid-quarter review of the monetary policy conducted by the Reserve Bank of India (RBI) Thursday, which focuses on reining in inflationary expectations in the economy.

-Repurchase rate or short-term lending rate hiked by 25 basis points to 6 percent
-Reverse repurchase or short-term borrowing rate raised by 50 …. Original article  : Highlights of mid-quarter review of India’s monetary policy.

Senate expected to pass long-delayed small business lending bill, handing Obama modest win

Senate to pass small business lending bill
WASHINGTON – Long-delayed legislation designed to open up credit to small businesses and award them with other incentives to expand and hire new workers is on track to pass the Senate on Thursday.
Passage of the measure, which blends a $30 billion government fund to …. Read the original article  : Senate expected to pass long-delayed small business lending bill, handing Obama modest win.

In victory for Obama, Senate panel appears set to push approval of nuclear treaty with Russia

Senate panel appears ready to approve nukes treaty

WASHINGTON – A Senate panel appears likely to recommend that the full Senate ratify a U.S.-Russia nuclear arms control treaty.
It is not certain that Democrats have the votes or the time for a full Senate vote this year. But hopes for passage improved this week when a second … Read : In victory for Obama, Senate panel appears set to push approval of nuclear treaty with Russia.

Scandinavian airline group SAS names Rickard Gustafson as new CEO

Airline group SAS names Gustafson as new CEO

STOCKHOLM – Scandinavian airline group SAS AB says it has appointed Rickard Gustafson, currently chief of an insurance company, as its new president and chief executive.
The current CEO, Mats Jansson is leaving SAS on Oct. 1 and the airline says Gustafson will start at the latest in March … Read more »».

India’s central bank hikes interest rates more than expected to tame inflation

India hikes interest rates more than expected

MUMBAI, India – India’s central bank has hiked interest rates more than expected as it continues its fight against high inflation.
The Reserve Bank of India is raising the repo rate – at which it makes short-term loans to commercial banks – by a quarter percentage point to 6 percent … Read more >>.

How the poll was conducted

How the poll was conducted
The Associated Press-GfK Poll on the midterm elections was conducted by GfK Roper Public Affairs & Corporate Communications from Sept. 9-13. It is based on landline and cell phone telephone interviews with a nationally representative random sample of 1,000 adults. Interviews were conducted with 700 respondents on landline telephones and 300 …. Read the original article  : How the poll was conducted.

AP-GfK Poll: Nearly half oppose tax hikes for rich, public trust in Dems on economy withers

AP-GfK Poll: Nearly half oppose tax hikes for rich
WASHINGTON – Almost half the country opposes tax increases for the richest Americans, according to a poll suggesting that congressional Democrats are taking some risk by backing President Barack Obama’s plan to boost levies on the wealthy.
Less than 50 days from elections that …. Original article  : AP-GfK Poll: Nearly half oppose tax hikes for rich, public trust in Dems on economy withers.

AP-GfK Poll: Nearly half oppose tax cuts for rich, public trust in Dems on economy withers

AP-GfK Poll: Nearly half oppose tax cuts for rich
WASHINGTON – A new poll shows that almost half the country opposes tax increases for the richest Americans, indicating that congressional Democrats are taking some risk by backing President Barack Obama’s plan to boost levies on the wealthy.
The Associated Press-GfK Poll is filled with encouraging … Read more : AP-GfK Poll: Nearly half oppose tax cuts for rich, public trust in Dems on economy withers.

Mid-Quarter Monetary Policy Review: September 2010

Monetary Measures
On the basis of the Reserve Bank’s assessment of macroeconomic situation, it has been decided to:

increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 5.75 per cent to 6.0 per cent with immediate effect.

increase the reverse repo rate under the LAF by …. Source article  : Mid-Quarter Monetary Policy Review: September 2010.