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

Everything you need to know about Akabarpur Bank: 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.

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.


Rs.4.64 billion MSTC fraud - CBI nabs three

May 2, 2012 at 9:02 PM

Mumbai, May 2 (IANS) The CBI has arrested three more officials of the Mineral Scrap Trading Corp (MSTC), a central government mini ratna firm, for allegedly cheating and causing losses Rs.4.64 billon loss to the exchequer, an official said Wednesday.

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.

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.

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

Amarnath pilgrimage registration from May 7

April 21, 2012 at 6:13 PM

Jammu, April 21 (IANS) The Shri Amarnath Shrine Board (SASB) Saturday announced that the registration for the annual pilgrimage to the cave shrine devoted to Lord Shiva will start May 7.

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.

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.

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.

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.

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.

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.

Government has taken steps to control food inflation: K V Thomas

April 18, 2012 at 9:25 PM

New Delhi, Apr 18 (ANI): Minister of State for Consumer Affairs, Food and Public Distribution K V Thomas on Wednesday said the government had taken adequate steps to control spiralling food inflation.

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.

Priyadarshan a wonderful director: Hollywood action expert

April 18, 2012 at 3:33 PM

Mumbai, April 18 (IANS) Hollywood action choreographer Peter Pedrero, who collaborated with Priyadarshan for his upcoming movie "Tezz", says it was a treat to work with the filmmaker. He also says Priyadarshan allowed him to explore his creative side.

HDFC Bank Q4 profit up 30 percent

April 18, 2012 at 2:21 PM

Mumbai, April 18 (IANS) HDFC Bank, India's second-largest private lender, Wednesday reported a 30.4 percent increase in its net profit at Rs.1,453.1 crore for the quarter ended March 31, 2012, led by higher interest rate margins and stable asset quality.

Key Canadian lending rate unchanged

April 18, 2012 at 12:37 PM

Ottawa, April 18 (IANS) The Bank of Canada is keeping its key interest rate at one percent, the bank has announced although it indicated that interest rates could rise soon.

Hamas calls on Palestinians to abduct Israelis

April 18, 2012 at 7:49 AM

Gaza, April 18 (IANS/RIA Novosti) A senior Hamas official has called on Palestinian militants to kidnap Israeli soldiers in order to exchange them for Palestinians captured by Israel.

India needs to tighten fiscal policy: IMF

April 17, 2012 at 7:01 PM

Washington, April 17 (IANS) With the notable exception of India, a number of economies in emerging Asia have room to make policy more supportive of economic activity, given favourable debt dynamics, the International Monetary Fund (IMF) said Tuesday.

Interest rates to go down but not immediately, say top banks

April 17, 2012 at 5:01 PM

New Delhi, April 17 (IANS) The Reserve Bank of India's (RBI) move Tuesday to cut key rates for the first time in three years by a sharp 50 basis points will provide the much needed respite to consumers as top banks said interest rates would go down, but not too soon.

India's growth pegged at 7.3 percent, inflation at 6.5 percent

April 17, 2012 at 12:31 PM

Mumbai, April 17 (IANS) India's central bank has projected the country's economic growth at 7.3 percent this fiscal, even as it has assessed the inflation rate to rule at around 6.5 percent by end-March, 2013.

World Bank new Chief's says, focus on market based growth

April 17, 2012 at 12:17 PM

World Bank's new president Jim Yong Kim has said that market based growth is the priority for every country

World Bank picks 'US choice' Jim Yong Kim as new chief

April 17, 2012 at 9:59 AM

Washington, Apr 17 (ANI): The World Bank has named Korean-born American health expert Jim Yong Kim as its new president.

Developing nations can have 8 percent growth rate

April 17, 2012 at 7:51 AM

Washington, April 17 (IANS) Every developing country holds the potential to register fast economic growth boosted by sound policies and leveraging its comparative advantages, according to World Bank chief economist Justin Yifu Lin.

Jim Yong Kim is new World Bank president

April 16, 2012 at 11:31 PM

Washington, April 16 (IANS) The World Bank announced Monday that Jim Yong Kim, the US candidate, has been selected as the bank's new president.

Growth will improve, but inflation will stay sticky: RBI

April 16, 2012 at 6:59 PM

New Delhi, April 16 (IANS) India's economic growth is likely to improve marginally in the current financial year from the projected growth of 6.9 percent in 2011-12, but inflation will remain "sticky" due to high oil prices, impact of hike in taxes, wages and large suppressed inflation, the Reserve Bank of India said Monday.

Nigerian bank deploys Infosys' Finacle software

April 16, 2012 at 6:11 PM

Bangalore, April 16 (IANS) Nigeria's oldest bank Wema Bank plc has deployed Indian IT bellwether Infosys Ltd's software product Finacle to offer core banking, retail e-banking and treasury services to customers through its 137 branches across the African country.

Mukherjee to visit US to attend IMF-World Bank meeting

April 16, 2012 at 4:11 PM

New Delhi, April 16 (IANS) Finance Minister Pranab Mukherjee will be on a four-day official visit to the United States beginning Thursday to attend the annual spring meeting of the International Monetary Fund and the World Bank.

Now, palm-scanning ATMs that don't need card

April 16, 2012 at 3:47 PM

Washington, April 16 (ANI): A Japanese bank has announced that it will be installing about a dozen automated teller machines that can read customers' palms to identify them.

RBI may cut key lending rates by 25 basis points

April 16, 2012 at 2:59 PM

Mumbai, April 16 (IANS) India's central bank is expected to cut key lending rates by about 0.25 percent or 25 basis points, thereby releasing more funds in the economy, in its annual credit policy for 2012-13 on Tuesday.

Finetune policies to promote community tourism: Study

April 15, 2012 at 12:19 PM

New Delhi, April 15 (IANS) The government should reinforce policies and focus on effective marketing to promote domestic tourism which has a huge potential to contribute to the social and economic inclusive growth, a study said Sunday.

Colombia's Antonio Ocampo ends World Bank chief bid

April 14, 2012 at 10:27 AM

London, Apr 14 (ANI): Former Colombian finance minister Jose Antonio Ocampo has announced he is withdrawing his attempt to become president of the World Bank.

Russia to back US nominee as world bank chief

April 14, 2012 at 9:55 AM

Moscow, April 14 (IANS/RIA Novosti)Russia will back Jim Yong Kim as head of the world bank, Finance Minister Anton Silyanov has said.

China's economy to grow 8.2 percent in 2012: WB

April 12, 2012 at 12:59 PM

Beijing, April 12 (IANS) China's economy is expected to expand at 8.2 percent in 2012 and 8.6 percent in 2013 as domestic demand will continue to boost the world's second-largest economy amid weak external demand, the World Bank (WB) said Thursday.

China's economy to grow 8.2 percent this year: World Bank

April 12, 2012 at 12:27 PM

Beijing, April 12 (IANS) China's economy is expected to expand at 8.2 percent in 2012 and 8.6 percent in 2013 as domestic demand will continue to boost the world's second-largest economy amid weak external demand, the World Bank (WB) said Thursday.

ADB says China's GDP growth to hit 8.5 percent

April 11, 2012 at 1:00 PM

Beijing, April 11 (IANS) China's economic growth is set to moderate slightly over the next two years but will exceed 8 percent, on the back of strong investment, rising private consumption and a more stable global economy, the Asian Development Bank said Wednesday.

Japan's central bank freezes key interest rate

April 10, 2012 at 3:47 PM

Tokyo, April 10 (IANS) The Japanese central bank decided Tuesday to keep its key interest rate unchanged and refrained from fresh monetary easing steps, dashing market hopes.

Canadian businesses show increased optimism: Bank of Canada

April 10, 2012 at 12:58 PM

Ottawa, April 10 (IANS) Canadian businesses plan to increase investment and hire more staff because positive sentiment on future sales has risen to its highest level in two years, the Bank of Canada's spring survey for business outlook showed.

Banks to operate full day tomorrow

April 6, 2012 at 9:37 PM

New Delhi, Apr 6 (ANI): In order to deal with inconvenience caused by three holidays this week, the Finance Ministry on Friday asked all public and private sector banks to operate full day on Saturday.

Sri Lankan economy registers record growth

April 6, 2012 at 2:33 PM

Colombo, April 6 (IANS) The Sri Lankan economy recorded its highest post-independence growth of 8.3 percent last year beating the previous record of 8 percent in 2010, the Central Bank said Friday.

Congress slams BJP over corruption

April 5, 2012 at 12:24 PM

New Delhi, Apr 5 (ANI): Slamming the Bharatiya Janata Party (BJP) for its inability to curb corruption, Congress spokesperson Abhishek Manu Singhvi has ridiculed the opposition party for the numerous instances of corruption during its rule, and said it should not be harping over what the UPA Government was doing or not doing.

Bangladesh encourages inward remittances with new banks

April 4, 2012 at 7:29 PM

Dhaka, April 4 (IANS) Bangladesh's central bank has approved a proposal to set up three new commercial banks to boost inward remittances from its citizens living and working abroad.

NABARD registers 24.2 percent loan growth in Bengal

April 4, 2012 at 4:48 PM

Kolkata, April 4 (IANS) The National Bank For Agriculture And Rural Development (NABARD) has loaned Rs.2,784.39 crore to financial institutions of West Bengal and the state government during the last fiscal, registering a growth of over 24.22 percent growth over 2010-11, an official said here Wednesday.

NABARD registers 24.2 percent loan growth in Bengal

April 4, 2012 at 4:16 PM

Kolkata, April 4 (IANS) The National Bank For Agriculture And Rural Development (NABARD) has loaned Rs.2,784.39 crore to financial institutions of West Bengal and the state government during the last fiscal, registering a growth of over 24.22 percent growth over 2010-11, an official said here Wednesday.

Mexico's foreign reserves rise

April 4, 2012 at 11:36 AM

Mexico City, April 4 (IANS/EFE) Mexico's foreign reserves rose by $1.1 billion in March to $150.26 billion, the Bank of Mexico said.

Nitish demands high-level probe into World Bank allegations

April 3, 2012 at 9:52 PM

Patna ,April 3 (IANS) Bihar Chief Minister Nitish Kumar Tuesday demanded a high level probe into World Bank report highlighting corruption and fraud in national highway projects funded by the bank.

Rs.18,000-crore Air India restructuring plan approved

April 3, 2012 at 5:52 PM

Mumbai, April 3 (IANS) The long-awaited Rs.18,000 crore financial restructuring plan for cash-strapped Air India has finally been approved by a consortium of 19 banks led by State Bank of India, an official said here Tuesday.

World Bank needs reform: Colombian candidate

April 3, 2012 at 1:04 PM

Washington, April 3 (IANS) The World Bank needs to be reformed to reflect the rising of emerging countries and to serve for their needs, said Jose Antonio Ocampo, one of the three contenders for World Bank's top job.

Pakistan wants China to help build dams

April 3, 2012 at 11:44 AM

Islamabad, April 3 (IANS) Pakistan wants the Export-Import Bank of China to help in the construction of small and medium dams.

Myanmar floats currency exchange rate

April 2, 2012 at 6:24 PM

Yangon, April 2 (IANS) The Central Bank of Myanmar Monday set a new exchange rate for its currency kyat. It has set 818 kyat per US dollar.

Loan agent held for forgery

April 1, 2012 at 7:25 PM

New Delhi, April 1 (IANS) A sales representative of a private bank who used forged documents for arranging car loans has been arrested here, police said Sunday.

Banks restructure Rs.18,000-crore loan plan for Air India

April 1, 2012 at 7:06 PM

Following the government's direction and in the move of reforming the worsening financial condition of public sector aviation company Air India, a consortium of 19 banks, led by State Bank of India.......

Palestinian reconciliation unlikely in 2012: Hamas official

March 31, 2012 at 10:24 PM

Gaza, March 31 (IANS) A Hamas official Saturday ruled out the possibility that the Palestinian reconciliation will take place this year, blaming mainly Israel and the US for blocking it.

Pranab, Zoellick hold talks, stress on World Bank's continued engagement with India

March 31, 2012 at 9:52 PM

New Delhi, Mar 31 (ANI): Union Finance Minister Pranab Mukherjee and World Bank Group President Robert B. Zoellick held talks here on Saturday, stressing on the value of the bank group's continued engagement with India.

Dozens of Palestinians wounded in clashes with Israeli soldiers

March 30, 2012 at 11:18 PM

Gaza/Ramallah, March 30 (IANS) Palestinian demonstrators marking the 36-year-anniversary of Land Day on Friday in the West Bank and the Gaza Strip clashed with the Israeli security forces, leaving dozens wounded, reported Xinhua, citing medics.

World Bank chief should be selected on merit: BRICS

March 29, 2012 at 7:06 PM

New Delhi, March 29 (IANS) The five-nation BRICS group of emerging economies, representing almost 43 percent of the world's population, Thursday welcomed the candidatures of developing countries for the World Bank presidency, demanding that the selection should be through an "open and merit-based process".

Highlights of 4th BRICS Summit

March 29, 2012 at 7:06 PM

New Delhi, March 29 (IANS) Key outcomes of the Fourth BRICS Summit as reflected in the Delhi Declaration:

BRICS sign two currency pacts, to set up joint bank

March 29, 2012 at 3:52 PM

New Delhi, March 29 (IANS) The BRICS grouping of five emerging economic powerhouses - Brazil, Russia, India, China and South Africa - Thursday signed two pacts to spur trade in their local currencies and agreed on a joint working group to set up a development bank that will raise their economic weight globally.

BRICS countries voice concern over pace of IMF reforms

March 29, 2012 at 3:37 PM

New Delhi, Mar 29 (ANI): BRICS countries, which comprise the emerging economic powerhouses of Brazil, Russia, India, China and South Africa, on Thursday voiced concern about the slow pace of reforms within the International Monetary Fund (IMF) in a draft summit declaration.

BRICS to ink currency pacts, to push joint bank

March 28, 2012 at 6:41 PM

New Delhi, March 28 (IANS) The BRICS grouping of five emerging economic powerhouses - Brazil, Russia, India, China and South Africa - Thursday will sign two pacts to promote trade in their local currencies and are expected to endorse plans for a joint development bank that will raise their economic heft in the global system.

Beijing, Shanghai gain top cities ranking

March 28, 2012 at 3:28 PM

Beijing, March 28 (IANS) Beijing and Shanghai have the most rapid growth in importance to high-net-worth individuals and will rank third and fourth among the world's top cities in 10 years.

Akhilesh leads by example, declares assets

March 28, 2012 at 12:32 PM

Lucknow, March 28 (IANS) In a first, Uttar Pradesh Chief Minister Akhilesh Yadav has declared his assets and got them posted on the state government web site.

World Bank chief Zoellick in India Monday

March 25, 2012 at 5:36 PM

New Delhi, March 25 (IANS) World Bank Group President Robert B. Zoellick will begin his fourth official visit to India from Monday to take stock of the efforts to overcome poverty and other development related projects on the eve of the beginning of the 12th Five Year Plan.

Global firms vie to grab Bangalore biz whizkids

March 24, 2012 at 4:33 PM

Bangalore, March 24 (IANS) Global technology, consulting and finance firms vied to grab the best of the breed from the reputed Indian Institute of Management-Bangalore (IIM-B) business school, with over 400 job offers for the around 370 students.

US monopoly on World Bank presidency challenged

March 24, 2012 at 2:00 PM

Washington, March 24 (IANS) The US Friday named Jim Yong Kim as its candidate to lead the World Bank (WB), but he faces a challenge from two non-Americans - an unprecedented happening in the global financial institution.

Bank of England urges banks to raise capital

March 24, 2012 at 12:48 PM

London, March 24 (IANS) British banks need to raise more capital as they are not reserving enough funds to withstand potential financial trouble, the Financial Policy Committee (FPC) under Bank of England (BOE) warned in its report released Friday.

Three candidates in race for World Bank Presidency

March 24, 2012 at 12:23 PM

For the chief post of World Bank, finally three nominations have been received.

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