Business

May 24, 2015 7:50 AM

Pak central bank slashes benchmark interest rates to a 42-year low of 7%

Pakistan's central bank slashed the benchmark interest rates to a 42-year low of seven percent, hoping to stimulate growth in the long dormant economy. Ashraf Mahamood Wathra, the Governor of the State Bank of Pakistan yesterday told a press conference in Islamabad that the apex bank is cut...

May 23, 2015 8:18 AM

HP sells stake in China unit for $2.3 billion

US tech giant Hewlett-Packard is selling a 51 percent stake in its Chinese server business for 2.3 billion dollar to Tsinghua Holdings. The deal brings together Hewlett-Packard with the investment arm of China's Tsinghua University in a joint venture called H3C, worth 4.5 billion dollar. Th...

May 23, 2015 8:13 AM

India's forex reserves touch record high at US $353.8 billion

Country's foreign exchange reserves surged by 1.7 billion US dollars to touch a record high of 353.8 billion dollars in the week to May 15, helped by the increase in foreign currency assets. According to the RBI data released yesterday, in the previous week, forex reserves had risen by 262....

May 22, 2015 7:27 PM

China-led AIIB in which India is founding member finalizes AoA

The China-led Asian Infrastructure Investment Bank (AIIB) today finalized Articles of Agreement (AoA). The Bank in which India is a founding member, said that AoA would be ready for signing by the end of June.The 57-member bank also said it would be operational by the end of this year. The announcem...

May 22, 2015 2:27 PM

India likely to be second-largest AIIB shareholder after China

China is likely take a 25-30 percent stake in the Asian Infrastructure Investment Bank (AIIB) and India is likely to be the second-largest shareholder, delegates attending a meeting of the bank's founding members said today. China's share in the 100 billion dollar lender will be le...

May 22, 2015 8:45 AM

India-US trade expected to increase to USD 500 bn: Ambassador

US Ambassador to India Richard Rahul Verma has said that the bilateral trade between India and the United States is expected to increase to 500 billion US dollar from the current 100 billion dollar. Answering questions at a function in Jalandhar on trade between the two countries, he said it is said...

May 22, 2015 8:44 AM

India-US trade expected to increase to USD 500 bn: Ambassador

US Ambassador to India Richard Verma has said that the bilateral trade between India and the United States is expected to increase to 500 billion US dollar from the current 100 billion dollar.Answering questions at a function in Jalandhar on trade between the two countries, he said it is said to inc...

May 22, 2015 8:41 AM

Various steps taken to ease of doing business in India: Sitharaman

Union Minister of Commerce and Industry, Nirmala Sitharaman said, the government has taken a number of steps in the last one year to ease doing business in the country. In an exclusive interview to All India Radio, she said government wants the States to work with the Centre to ensure that the whole...

May 22, 2015 7:39 AM

RBI simplifying forex regulations to improve ease of doing biz

The Reserve Bank of India, RBI, said it is working with the government to simplify and liberalise procedures related to foreign exchange regulations to facilitate ease of doing business in the country. RBI Deputy Governor Harun R Khan said this while addressing a meeting at Town Hall in New Delhi ye...

May 22, 2015 7:22 AM

Delhi, 3 other states decide to work on uniform tax rates

Delhi and its neighbouring states Punjab, Haryana and Himachal Pradesh have agreed to move towards uniformity in tax rates and develop a common market to boost trade. The decision to this effect was taken at a meeting held at the Delhi Secretariat in which Finance Ministers of all four states were p...

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