RSSBusiness News – Newsletter for April 20, 2010
Tuesday, April 20, 2010
If Iran goes nuclear, US would have limited options for containment
US has limited options in stopping Iranian nukes
WASHINGTON – If diplomacy fails and Iran gets a nuclear bomb, the U.S. would still have ways to discourage Tehran from using these terrifying weapons.
But there are limits on what even the world’s sole superpower can do to contain a nuclear-armed Iran and blunt its influence …. Source : Gaea News Network.
Most world markets recover modestly after financial stocks lead US rebound
Global markets mostly higher after US rebound
HONG KONG – Most global markets rebounded modestly Tuesday, following Wall Street higher as financial stocks recovered from a sell-off prompted by the U.S. government’s fraud case against Goldman Sachs.
Many Asian and European benchmarks were up less than 1 percent, while oil regained some ground after a big tumble. … Read more »»».
RBI Credit Policy: Subbarao announced 5.25 per cent Repo Rate
NEW DELHI, INDIA (GaeaTimes.com) — D. Subbarao, the honorable Governor of The Reserve Bank of India (RBI) has announced the new policy statement for the fiscal year 2010-2011 on April 20, 2010. According to reports, The cash reserve ratio, repo rate and Reverse Repo rate are likely to increase. Under the Liquidity Adjustment Facility …. Original article : RBI Credit Policy: Subbarao announced 5.25 per cent Repo Rate.
Report: Iranian foreign minister calls nuclear fuel swap a chance to boost trust with the West
Iran: Nuclear fuel swap a chance to boost trust
TEHRAN, Iran – Iran’s foreign minister has called a proposed exchange of nuclear fuel an opportunity to boost trust with the West.
A 2009 U.N.-backed plan offered nuclear fuel rods to Tehran in exchange for Iran’s stock of lower-level enriched uranium. The swap would curb Tehran’s capacity to … Read : Report: Iranian foreign minister calls nuclear fuel swap a chance to boost trust with the West.
India’s central bank hikes rates further to tame inflation (Roundup)
MUMBAI – Interest rates on housing, automobile and corporate loans were set to rise with India’s central bank hiking key rates in its monetary policy for this year unveiled Tuesday to suck excess liquidity out of the system to tame inflation.
The Reserve Bank of India (RBI) also projected India’s growth for this fiscal at upward … Read more : India’s central bank hikes rates further to tame inflation (Roundup).
Amway targets Rs.20 billion business in India by 2012
AGARTALA – Consumer and home products direct marketing company Amway India hopes to do business worth Rs.20 billion in the country by 2012, adding more products to its portfolio, a company official said here Tuesday.
“After commencing commercial operations and business with Rs.9.1 million in 1998, Amway has done business worth Rs.14 billion last year (2009) …. Source : Gaea News Network.
As Republican fortunes rise, former officeholders look to become political comeback kids
Sensing GOP tide, has-beens look to be comebacks
WASHINGTON – Republicans once saddled with the burden of President George W. Bush’s unpopularity are now experiencing a boon from another struggling president: Barack Obama.
The GOP senses rising fortunes from coast to coast, as one-time lawmakers such as Richard Pombo in California and Charlie Bass …. Original article : As Republican fortunes rise, former officeholders look to become political comeback kids.
RBI hikes policy rates and CRR by 25 basis points
MUMBAI – The Reserve Bank of India on Tuesday hiked key policy rates by 25 basis points and the Cash Reserve Ratio (CRR) for banks by 25 basis points.
The CRR now stands at six per cent, from 5.75 per cent. The repo rate has been raised to 5.25 per cent [..] Read the original article: here.
BSNL workers on strike against divestment
NEW DELHI – Over three lakh employees and executives of Bharat Sanchar Nigam Ltd (BSNL) Tuesday went on an indefinite strike protesting against the government’s plan for divestment in the telecom service provider, a union official said.
“The strike began at 6 a.m. at all BSNL offices in the country. In Delhi, it started around 10. …. Source : Gaea News Network.
AIADMK, MDMK walk out of assembly
CHENNAI – AIADMK and MDMK legislators Tuesday walked out of the Tamil Nadu assembly protesting what they said was the government’s inaction in bringing down yarn prices.
Moving calling attention motion on rising yarn prices, AIADMK legislators asked the government to take action on banning cotton exports and bringing down the yarn prices.
Replying to the …. Original article on Gaea Times at : AIADMK, MDMK walk out of assembly.
Thai protesters fortify encampments in heart of Bangkok ahead of ‘big war’
Thai protesters fortify camps in heart of Bangkok
BANGKOK – Thai protesters said Tuesday that they would fortify their sprawling encampment in Bangkok’s upscale hotel-and-shopping district before venturing out to “wage a big war” to topple the government they decry as illegitimate.
Soldiers in full combat gear guarded other nearby sections of the capital in an increasingly …. Read the original article : Thai protesters fortify encampments in heart of Bangkok ahead of ‘big war’.
Chhattisgarh bans foreign travel on government money
RAIPUR – The Chhattisgarh government has banned its ministers and bureaucrats from touring abroad on state government expenses till March 31 next year, official sources said Tuesday.
The order by the finance department will cover the chief minister and ministers, bureaucrats, nine parliamentary secretaries who enjoy minister of state status and heads of various boards and …. Original article : Chhattisgarh bans foreign travel on government money.
India’s central bank starts process for new bank licenses
MUMBAI – The Reserve Bank of India (RBI) Tuesday began the preparatory process to issue new commercial banking licenses to private sector players as suggested by Finance Minister Pranab Mukherjee in his budget speech for this financial year.
RBI Governor D. Subbarao said a discussion paper will be prepared by the central bank and put … Read more >>.
Strong Indian rupee makes China Dhaka’s no.1 trade partner
DHAKA – China is once again Bangladesh’s number one trading partner, thanks to a strengthening Indian rupee.
Indian goods are facing tough competition from Chinese imports, trade officials and analysts told New Age newspaper Tuesday.
Sources in the office of the chief controller of exports and imports said that Bangladesh-China trade increased by 58 percent …. Original article : Strong Indian rupee makes China Dhaka’s no.1 trade partner.
New commemorative circulation coin of Rs.5/- denomination (Nickel Brass) on the occasion of “60 years of the Commonwealth”
The Reserve Bank of India will shortly put in to circulation new commemorative circulation coins of Rs.5/- denomination (Nickel Brass) issued by the Government of India on the occasion of "60 years of Commonwealth".
Shape and outside diameter
No. of Serrations
Metal Composition
Most Asian markets recover modestly after financial stocks lead US higher;
Most Asian markets recover after US rebound
HONG KONG – Most Asian markets rebounded modestly Tuesday, following Wall Street higher as financial stocks recovered from a sell-off prompted by the U.S. government’s fraud case against Goldman Sachs.
The region’s major benchmarks were up less than 1 percent, while oil regained some ground after a big tumble. The … Read more »».
Customer service of commercial banks wanting: Subbarao
MUMBAI – India’s central bank Tuesday expressed dissatisfaction over the manner in which commercial banks treat their customers, even charging higher rates of interest than permissible, and has decided to set up an panel to address the issue.
“Customer service in the banking industry is increasingly becoming important as banks are privileged institutions and banking is …. Read the original article : here.
Stock markets positive to lower hike in interest rates
MUMBAI – Benchmark indices of the Indian equities markets rose almost a percent after the Reserve Bank of India (RBI) announced a lower than expected hike in key interest rates.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,394.68 points, rose to 17,551.02 points, up 150.34 points or 0.86 percent from …. Original source : Stock markets positive to lower hike in interest rates.
India’s central bank hikes key rates to tame inflation
MUMBAI – Interest rates on housing, automobile and corporate loans are set to rise with India’s central bank hiking key rates in its monetary policy for this year unveiled Tuesday to suck excess liquidity out of the system to tame inflation.
The Reserve Bank of India (RBI) also projected India’s growth for this fiscal at upward … Read more »»».
Swiss drug maker Novartis says 1Q net profit up 49 percent to $2.95 billion
Novartis says 1Q profit up 49 percent
GENEVA – Drug maker Novartis AG says its first-quarter net profit has increased 49 percent to $2.95 billion on strong sales particularly of swine flu vaccine.
The Swiss company reported a net profit of $1.98 billion in the same quarter a year ago.
Sales rose 25 percent to $12.13 billion in …. Original source : Swiss drug maker Novartis says 1Q net profit up 49 percent to $2.95 billion.