RBI permits investment in Pakistan by Indian corporates
Posted Date : 07-Sep-2012 , 09:13:07 pm | Posted By CASANSAAR
Reserve Bank today permitted Indians to invest in Pakistan, a move which will help enhance bilateral trade and investment. The RBI notification comes on a day when Indian External Affairs Minister S M Krishna is visiting Pakistan aimed at strengthening bilateral relations. "It ha...
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ICICI Bank to hike overseas ATM cash withdrawal fee by 17%
Posted Date : 03-Sep-2012 , 01:55:21 pm | Posted By CASANSAAR
ATM cash withdrawals at international locations by ICICI Bank customers are set to get dearer by nearly 17 per cent by the middle of this month. "With effect from September 15, 2012 ATM cash withdrawal fee at international location will be increased from Rs 107 to Rs 125," the country's largest...
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India’s Foreign Trade: July, 2012
Posted Date : 03-Sep-2012 , 01:48:19 pm | Posted By CASANSAAR
A. EXPORTS (including re-exports)
Exports during July, 2012 were valued at US $ 22442.96 million (Rs. 124546.75 crore) which was 14.80 per cent lower in Dollar terms (6.45 per cent higher in Rupee terms) than ...
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10 FDI Proposals Amounting to Rs. 1259.92 Crore Approved
Posted Date : 23-Aug-2012 , 10:33:36 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 27, 2012, the Government of India has approved ten (10) Proposals of Foreign Direct Investment (FDI) amounting t...
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RBI notifies decision allowing FDI from Pakistan
Posted Date : 23-Aug-2012 , 08:44:03 am | Posted By CASANSAAR
The Reserve Bank today notified the decision to allow foreign direct investment from Pakistan. "It has now been decided that...a person who is a citizen of Pakistan or an entity incorporated in Pakistan may, with the prior approval of the Foreign Investment Promotion Board, purchase s...
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International Business |
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Black money trail: Export, import firms under scanner for alleged money laundering, tax evasion
Posted Date : 20-Aug-2012 , 06:34:39 pm | Posted By CASANSAAR
Trade transactions by a host of exportand import firms have come under the scanner of central economic intelligence agencies for allegedmoney laundering and tax evasion.Sources said Central Economic Intelligence Bureauand Directorate of Revenue Intelligence officials ha...
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International Business |
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Barclays Bank slammed for lack of internal control
Posted Date : 20-Aug-2012 , 07:31:06 am | Posted By CASANSAAR
In Britain, a parliamentary investigation into the rigging of rates, which banks lend money to each other, has strongly criticised Barclays Bank for lack of internal controls over several years. The MPs also said former Head of the Bank Bob Diamond provided highly selective evidence to its committee...
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International Business |
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Standard Chartered, NY regulator reach $340-million settlement
Posted Date : 15-Aug-2012 , 01:16:58 pm | Posted By CASANSAAR
Standard Chartered, the British bank, has agreed to pay New York’s top banking regulator $340 million to settle claims that it laundered hundreds of billions of dollars in tainted money for Iran and lied to regulators.
The agreement is a victory for Benjamin M. Lawsky and his 10...
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RBI signs MoU with Central Bank of Russian Federation
Posted Date : 10-Aug-2012 , 05:17:28 pm | Posted By CASANSAAR
The Reserve Bank has signed a memorandum of understanding (MoU) with the Central Bank of the Russian Federation. RBI in a statement said that the Reserve Bank of India and the Central Bank of the
Russian Federation concluded a Memorandum of Understanding (MoU) to promote greater co-operatio...
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International Business |
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Black money trail: No amnesty scheme to Indian account-holders of HSBC's Swiss unit
Posted Date : 09-Aug-2012 , 08:02:35 am | Posted By CASANSAAR
The government on Wednesday said the Central Board of Direct Taxes (CBDT) had not offered any tax amnesty scheme to Indian account-holders ofHSBC, Switzerland.
Minister of state for finance SS Palanimanickam replied in the negative to a written query in the Lok Sabha if the CBDT, the apex...
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Facebook’s per user valuation dips below $50-mark
Posted Date : 06-Aug-2012 , 08:01:10 am | Posted By CASANSAAR
Facebook may be continuing to gain ground in social networking space, but its per-user valuation has more than halved to $47 in less than three months since its much-hyped debut in the stock market.
As per the latest disclosure by Facebook, the social networking giant now commands a base of...
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International Business |
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Mauritius entities in exit mode; sell shares worth Rs 3,000 crore
Posted Date : 05-Aug-2012 , 09:24:26 pm | Posted By CASANSAAR
Mauritius-based entities seem to have gone on a selling spree in the Indian stock market and have off-loaded shares worth about Rs 3,000 crore in about 24 companies since the beginning of this fiscal.
The companies whose shares have been sold by various Mauritius-based entities, many ...
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International Business |
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Over 83 million Facebook accounts are False or Duplicate
Posted Date : 03-Aug-2012 , 08:24:36 am | Posted By CASANSAAR
Facebook shares crumbled again on Thursday, sending the once-feverishly sought-after name below $20 for the first time as investors scrambled to get out of the way of a potential share deluge in coming weeks. Thursday marked a five-day losing streak for the stock. Facebook has shed almost ...
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International Business |
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Govt permits FDI from Pakistan
Posted Date : 01-Aug-2012 , 07:54:36 pm | Posted By CASANSAAR
India on Wednesday decided to allow foreign direct investment from Pakistan in a move to boost bilateral economic relations."The government of India has reviewed the policy...And decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India, under the gov...
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Foreign Investment Promotion Board Approves 14 FDI Proposals Worth Rs.1584.11 Crore
Posted Date : 24-Jul-2012 , 09:00:31 pm | Posted By CASANSAAR
Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on June 29, 2012, the Central Government has approved 14 Proposals of Foreign Direct Investment (FDI) amounting toRs.1584....
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FII inflow into India crosses $10-bn mark
Posted Date : 23-Jul-2012 , 08:29:18 pm | Posted By CASANSAAR
Foreign Institutional Investors (FIIs) have poured in over $1.67 billion this month in the Indian stock market, taking their total investments so far this year to more than $10 billion.According to data available with the Securities and Exchange Board of India (SEBI), foreign investors, who had pull...
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International Business |
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HSBC India staff under scanner for money laundering and terror financing
Posted Date : 18-Jul-2012 , 09:41:35 pm | Posted By CASANSAAR
HSBC's staff in India have come under the scanner for deficiencies in their role as "offshore reviewers" of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing. A probe by the US senate's permanent subcommittee on investigations f...
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Hackers claim to steal 450,000 Yahoo user accounts
Posted Date : 13-Jul-2012 , 06:44:15 am | Posted By CASANSAAR
A previously unknown hacker group has posted online the details of 450,000 user accounts and passwords it claims to have taken from a Yahoo server.The Ars Technica technology news website reported that the group, which calls itself D33DS Company, hacked into an unidentified subdo...
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Facebook inching towards job recruiting
Posted Date : 07-Jul-2012 , 10:43:12 pm | Posted By CASANSAAR
Soon the popular social networking site Facebook will become a recruiter, as per knowledgeable sources, by launching its own job board after teaming with existing job-posting companies, the sources said.
Citing anonymous sources, media reports said that BranchOut, Jobvite and Work4Labs will...
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Global accounting standards body itself in a tax bind in UK
Posted Date : 29-Jun-2012 , 08:39:10 am | Posted By CASANSAAR
The International Financial Reporting Standards Foundation, parent entity of the mighty International Accounting Standard Board, made a £460,000 (Rs 4.07 crore) provision last year for a potential tax settlement with Britain’s HM Revenue and Customs, in a case that could prove highly emb...
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Vodafone in new 1 billion pounds UK 'tax scandal'
Posted Date : 27-Jun-2012 , 08:05:10 am | Posted By CASANSAAR
The world's largest mobile phone company,Vodafone Group, has shaved 1 billion pounds, and possibly more, off the taxes its UK operating unit might have paid in the past decade, thanks to accounting factors not seen at other European units. A Reuters examination of statutory filings made by Voda...
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8 FDI Proposals Amounting to Rs. 100 Crore Approved
Posted Date : 27-Jun-2012 , 08:00:00 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on June 1, 2012, Government has approved 08 Proposals of Foreign Direct Investment amounting to Rs. 100.01 crore approxim...
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Rupee hits new low of 57.30 against dollar
Posted Date : 22-Jun-2012 , 02:36:41 pm | Posted By CASANSAAR
The rupee fell way past the psychological mark of 57 for the first time to 57.30 against the dollar on Friday on strong demand for the American currency from oil importers, increased capital outflows and concerns over slowdown in global economic growth.
Continuing its free fall, the rupee s...
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Rupee hits record low against dollar; RBI steps in 'mildly'
Posted Date : 21-Jun-2012 , 03:50:19 pm | Posted By CASANSAAR
The rupee fell to a record low against thedollar on Thursday, as the euro and other risk assets were hit by disappointment about the size of bond purchases announced by the Federal Reserve and by weak economic data in China and Germany.The Reserve Bank of India made what tra...
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Indian money in Swiss banks rise for 1st time in 5 years
Posted Date : 14-Jun-2012 , 11:40:32 pm | Posted By CASANSAAR
Switzerland today said the quantum of money held by Indians in Swiss banks stood at 2.18 billion Swiss francs (about Rs 12,740 crore) at the end of 2011, rising for the first time in the past five years.
The total funds held by Indian individuals and entities include 2.025 billion Swiss ...
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Facebook testing technologies to link pages of kids under 13 with parents' accounts
Posted Date : 13-Jun-2012 , 09:01:49 am | Posted By CASANSAAR
If Facebook wants to open its doors to kids under 13 - as well as acknowledge the millions that are already there - it's going to need to tread cautiously.The social network is testing technologies that would link children's pages to those of their parents and enable parents to approv...
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Tax fears make overseas investors pull out Rs 1 trillion from India
Posted Date : 10-Jun-2012 , 09:43:20 pm | Posted By CASANSAAR
Rich overseas entities, investing in Indian markets through 'participatory notes' (P-notes/PNs), are estimated to have pulled out over Rs 1 lakh crore (about USD 20 billion) in less than three months on fears of getting caught in the government's taxation net and its black money trail. As a res...
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Gold hits all-time high, zooms past Rs 30,000-level
Posted Date : 03-Jun-2012 , 08:44:03 am | Posted By CASANSAAR
Gold prices on Saturday jumped sharply up to Rs 1,095 per 10 gram crossing the Rs 30,000 per 10 gram level, its all-time high, on account of rise in global prices of precious metal and weakening rupee.
The maximum jump in prices was seen in Chennai, where gold became costlier by Rs 1,095 at...
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Foreign companies pulling more money out of India, says Nomura
Posted Date : 26-May-2012 , 09:19:08 am | Posted By CASANSAAR
Foreign direct investment, the sort of sticky long-term money India craves to fund its current account deficit and build up its infrastructure, may not be so stable after all.
According to a Nomura report, multinational companies have been pulling money out of India at an accelerating rate, moving ...
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Rupee touches record low, breaches 55 mark vs US dollar
Posted Date : 21-May-2012 , 06:13:28 pm | Posted By CASANSAAR
The rupee continued its downward spiral on Monday and breached the record low of the 55 mark against the American dollar, according to reports. Finance minister Pranab Mukherjee on Sunday had said the steep fall in the rupee was a matter of great concern and the centre was trying to ...
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