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Greek banks closed till Wednesday
The Greek government extended the week-long bank holiday that started on June 29 till Wednesday, while its latest proposal for a debt deal was to be presented to an emergency Eurogroup meeting on Tuesday and an extraordinary eurozone summit later in the evening.
 
Greeks gave a resounding “No” to creditors' draft deal proposal in Sunday's referendum, which could possibly lead to a default and the Greek exit from the eurozone.
 
The extension of the bank closure, which was aimed at tightening capital controls to avert a further bank run and the collapse of the banking system, was announced after a meeting between Deputy Finance Minister Dimitris Mardas, Greek Bank Association chief Louka Katseli and other bankers on Monday night, Xinhua news agency reported.
 
Only 1,000 bank branches will be exempted, as it had happened last week, to service pensioners and the unemployed for social benefits. Each individual can withdraw up to 120 euros (about $131.50) weekly from these bank branches, while debit card users can withdraw up to 60 euros daily from ATMs.
 
The government is expected to decide when to reopen the banks and whether to lift or change the limit of capital controls after the crucial talks in Brussels.
 
Mardas told media that the government would soon announce its decision on when savers may have access to safe deposits boxes in banks' vaults.
 
Katseli said last week that ATMs were expected to run out of cash by Tuesday, but Economy Minister Giorgos Stathakis assured that depositors can withdraw cash until this Friday as long as the capital controls of 60 euros per day continue.
 
Greece will resubmit Tuesday a request for a two-year bailout programme worth 29 billion euros through the European Stability Mechanism, according to government sources. Athens presented the idea earlier in July but was rejected by its lenders.
 
Some European partners have openly expressed their preference for the signing of a "bridge agreement" that would last for only a few months in exchange for the swift implementation of reforms by Greece before a comprehensive deal is reached.
 
European officials and financial experts warn that any decisions should be made by July 20, when Greece needs to repay 3.5 billion euros in loan installments to the European Central Bank.
 
Greece missed a similar crucial deadline on June 30 and was declared in arrears to the International Monetary Fund.

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Sitharaman to meet stakeholders on FDI in e-commerce
With retail store operators going to court seeking parity between online and offline retailers, Commerce Minister Nirmala Sitharaman will meet industry representatives from both e-commerce and retail companies on Friday to discuss opening up the e-commerce sector to foreign direct investment (FDI).
 
A source in the department of industrial policy and promotions told IANS here that both Indian and foreign e-commerce companies such as Flipkart, eBay, Snapdeal and Amazon are likely to attend the meeting.
 
Almost all stakeholders, including representatives of the Confederation of Indian Industries and Federation of Indian Chambers of Commerce and Industry have been invited to Friday's meeting, the source said.
 
The commerce minister is also scheduled to meet chief ministers on the matter on July 15, the official added.
 
The Retailers Association of India (RAI) moved the Delhi high court in May seeking a level playing field between online and offline retailers. The association, representing large brick-and-mortar retail companies, had boycotted the consultations with the minister on the matter in May.
 
After the May meeting here, Sitharaman told reporters: "It was the first meeting. We are not taking any position this way or that way. We have heard everybody on whether they need or do not need FDI, and whether it will affect the level playing field."
 
"I may have meetings with state governments also to understand their position because it is important for me to know the issue in each of these cases," she said.
 
India currently allows 100 percent FDI in business-to-business (B2B) e-commerce, but not in B2C companies selling directly to consumers.

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No confirmation on meeting with Parrikar: Ex-servicemen
As protests over delay in the implementation of the promised 'One Rank, One Pension' scheme continued for the 23rd day in the national capital with a relay hunger-strike by 75 ex-servicemen on Tuesday, an expected meeting with Defence Minister Manohar Parrikar was yet to materialise.
 
"Our strike has entered the 23rd day today (Tuesday). We are expecting an appointment with Manohar Parrikar today or tomorrow... but nothing has been confirmed yet. We don't know what to do, but our strike will continue (till then)," Group Captain V.K. Gandhi (retd), Indian Ex-Servicemen Movement general secretary, told IANS.
 
Parrikar had last week called the protesting ex-servicemen and told them that the file on the 'One Rank One Pension' (OROP) scheme had come back from the union finance ministry.
 
The minister had said complications around implementation of the OROP scheme have been sorted out now. However, no date for the implementation of the scheme was given.
 
The ex-servicemen are demanding that the central government give them a definite date for OROP implementation. The veterans started their protest in the national capital on June 14, and began a relay hunger strike from June 15.

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