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Diesel prices responsible for 7.81pc inflation in September
It had been noticed that for India inflation had risen to its maximum level during this financial year, peaking at 7.81 percent in the month of September. There has been an increase in the price of wheat, cereals and diesel; this development...
DOCOMO and MasterCard to launch NFC payments in 41 countries
Technology based company ‘NTT DOCOMO Inc’. and global payments industry leader’MasterCard Worldwide’ have together announced a global business alliance for contact-less payments, through compatible DOCOMO smartphones....
Chinese banks to dabble with international acquisitions
Wang Hongzhang, the chairman of China Construction bank in the month of September said that he is prepared to spend up to US $15 billion on a major banking acquisition in Europe. If executed, the comments by Wang increases the chances of a Chinese...
Fixed deposit rates cut by Axis Bank by 25 bps
India’s Axis Bank has once again cut interest rates on fixed deposits by 25 basis points to 8.50 percent on fixed deposits. The changes apply to to deposits with are set to mature within one year and 18 months. It is the second time...
IMF predicts bleak future for economic growth in India
The International Monetary Fund (IMF), on October 9, 2012, caused concerns for some by predicting a bleak future for the Indian economy, which is currently the third largest in Asia. The IMF downgraded their predictions from a previous estimate...
Pascal Lamy sees China leading the way in coming days
Director-general of the World Trade Centre Orgranisation (WTO) Pascal Lamy is of the opinion that protectionism is not as bad as it has been made out to be. Protectionism has risen in countries which have been struggling to create jobs for their...
Geithner predicts Indian economy reforms will trigger investment
U.S. Treasury Secretary Timothy Geithner, on October 9, 2012, has welcomed the steps taken by India to encourage foreign investment, saying that it will provide a strong foundation for economic growth. In a joint press conference with Indian...
World Bank lowers China growth forecast
According to the World Bank, the growth forecast for China has been lowered due to a weak demand for exports and lower investment growth. The bank is expecting China’s economy to grow by 7.7% this year, which is down from 8.2 %, as projected...
Chinese riots now not covered by Japanese insurance firms
Reports released on October 5, 2012, indicate that many of the big Japanese insurers have stopped covering firms in China against riots. The recent move is likely to hit investments in China as the countries are still at loggerheads in regards...
Petrol pump dealers threaten to work for eight hours per day
The petrol pump dealers are demanding a rise in the commission on selling of the petroleum products. The Confederation of Indian Petroleum Dealers on September 26, 2012 have threatened that they will work for just eight hours a day from October...