U.S. lawmakers press for action on China currency
WASHINGTON (Reuters) - President Barack Obama faced growing congressional pressure on Monday to get tough with China over its currency practices, one day after Chinese Premier Wen Jiabao brushed off accusations that Beijing was undervaluing its currency for an unfair trade advantage.
U.S. Sen Dodd boosts Fed in new financial reforms
WASHINGTON (Reuters) - The Federal Reserve would take on a greatly expanded role in financial regulation under new legislation unveiled on Monday by a top U.S. Senate Democrat, in a push to move ahead with the regulatory reform that has been a top priority of President Barack Obama.
$17.5 bln jobs bill nears final OK in U.S. Congress
WASHINGTON (Reuters) - The first of several Democratic job-creation efforts cleared a procedural hurdle in the U.S. Senate on Monday and appeared to be headed toward final congressional approval.
ICICI Bank aims at 15% growth
After having raised its ratio of low-cost deposits and pared unsecured loans, ICICI Bank plans to grow its balance sheet size by 15% in 2010-11, improving upon this year s flat growth. The bank would continue to grow its retail loans portfolio, project finance and working capital loans but would see the share of unsecured ...
Mutual funds entice customers with gold schemes
Mutual funds (MF) are trying out ways to lure investors into the gold funds. If investors are not willing to go to the exchange to buy gold funds, asset management companies are willing to come to them though in a different fashion. They are now launching gold fund-of-funds that invests back into their own exchange ...
Made full disclosure of existing buildings: Infy
Even as the stalemate over the legality of Infosys Technologies Chandigarh special economic zone (SEZ) campus continues, the country s second largest IT firm has said it made full disclosure of all the building activities on the said land through the Chandigarh Administration in its application to the Central government for SEZ notification. In its ...
IOB ups depost rates, Central Bank cuts rates for doctors
Indian Overseas Bank (IOB) on Monday revised the rate of interest on deposits effective March 15. For deposits of less than Rs 1 crore for tenure of 270 days and less than one year, the rate has been fixed at 6%, for one year to less than five years at 6.75% and five years and ...
Vegetable oil imports down 8% to 0.7 mt
India s vegetable oil imports in February fell 8% to 700,769 tonne from a year ago as higher purchases in the previous months pushed up port stocks, the Solvent Extractors Association of India (SEA) said on Monday. Imports which were at 762,544 tonne in February last year were, however, up 6.9% in the first four ...
Service tax on realty likely to be intensely debated
In a significant change in taxation of transactions for sale of property before construction is completed, the Finance Bill 2010 proposes to levy service tax deeming such transactions as services . Service tax already applies on services provided by a construction company to a developer, whether the property is for commercial use or residential use ...
U.S. presses India on Doha trade talks
WASHINGTON (Reuters) - A top U.S. official on Monday urged India and other large emerging economies to rescue the eight-year-old Doha round of world trade talks by making better offers to open their markets to American goods.