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Greece is analysing possibly taking legal action against the European institutions to block its exit from the eurozone, according to Greek Finance Minister Yanis Varoufakis. Greece is expected to fail to make Tuesday's loan repayment to the International Monetary Fund (IMF).   "The...

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The political group leaders of the European Parliament (EP) on Monday called Greece and the creditors to return to the negotiating table before the end of Tuesday.   As the Greek debt talks deadlocked again, EP President Martin Schulz and political group leaders gathered in...

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The Greek government on Monday confirmed that banks will be closed all week, after a decision by the European Central Bank (ECB) not to extend emergency funding.   In a decree, the government cited the "extremely urgent" need to protect the financial system due to the lack of...

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Amit Dasgupta (IANS) 26 June 2015
The prime minister needs to urgently recognize that in a globalizing world, genuine engagement is measured principally in economic terms   Prime Minister Narendra Modi, with the personal attention he has paid to foreign policy, lifted bilateral engagement to an entirely different...

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The Federal Reserve, America's central bank, has decided not to raise interest rates in June, but signalled that the long-awaited rate hike could come in September as the economic activity picks up.   "The committee expects that, with appropriate policy accommodation, economic...

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Devanik Saha (IANS) 17 June 2015
India’s e-commerce market is intensely competitive, with US giant Amazon establishing its presence in India in 2013 and Alibaba, the Chinese giant, planning to start selling by August this year   Retail e-commerce sales in India are expected to reach $17.5 billion (Rs.105,120...

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Vatsal Srivastava (IANS) 21 May 2015
The dollar, however, finished higher against all major currencies except the pound, which meant that the currency market is factoring in a September rate hike   It would be hard to put the Federal Open Market Committee (FOMC) minutes released Wednesday night under the hawkish or...

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In a move that would likely impact both emerging markets like India and advanced economies, the US central bank Wednesday dropped an assurance to be "patienta" in raising interest rates and signaled the hike could come by mid year.   But in a statement issued after a two-day...

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The Wall Street Journal suggested that the Fed "is about to inject uncertainty back into financial markets after spending years trying to calm investors' nerves with explicit assurances that interest rates would remain low"   The US central bank kicked off a policy meeting that ends...

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Alrosa, the world’s largest diamond supplier is willing to offer rough diamonds to 12 of India's diamond processing companies. In addition, with a rupee-rouble currency swap arrangement, the import costs for rough diamonds would come down as it would avoid European middlemen   Due to...

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Moneylife Digital Team 28 January 2015
While Indian markets are getting huge inflows, money is flowing out of other emerging markets     Dedicated EM (emerging markets) equity funds reported a large outflow of US$3.20bn for the week ending 21 January 2015. This is the 10th consecutive week of outflows for dedicated EM...

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Moneylife Digital Team 15 January 2015
Over $98 billion was wiped off the value of Swiss stocks, their biggest daily fall in 26 years, while the pan-European FTSEurofirst 300 slumped 2% and Wall Street futures turned negative after the SNB scrapped its three-year old peg of 1.20 Swiss francs per euro   Global markets were...

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Moneylife Digital Team 18 December 2014
The introduction of negative interest rates makes it less attractive to hold Swiss franc investments, and thereby supports the minimum exchange rate, the Swiss Central Bank said.   Switzerland is introducing a negative interest rate on the deposits it holds for lenders, its central...

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The Chinese economy is slowing. Producer prices in China have been falling for nearly three years. Consumer prices have dropped to a five-year low making the Eurozone’s problems with deflation look tame   In the United States in July of 2008, a litre of gas reached an all-time high of...

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Protection of domestic industry is vital to India’s survival; and this is possible, when strong steps are taken to eliminate avoidable imports from China, in particular   According to the press reports available, the Indian Met Coke Manufacturers Association (IMCOM), the industry is...

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Chinese ambition to dominate the far east and Asia also needs to be checked by India extending closer cooperation with Japan, Philippines, Vietnam, South Korea, Malaysia, and closer at home to other countries such as Sri Lanka, Bhutan, Nepal, Bangladesh, Myanmar, Afghanistan and...

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Jake Bernstein (ProPublica) 21 November 2014
Ahead of Senate hearing on regulatory capture, the Federal Reserve Board wants to look at whether the views of examiners are being heard by higher-ups   Editor's Note: This story has been updated to cover the Federal Reserve Board's announcement that it would review its supervision of...

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Rising commodity prices helps the commodities exporting countries and hurts the importers. These are normal parts of economic cycles. However, when these cycles are manipulated by central banks, both sides of the trade could feel the pain   While equity markets in many countries are...

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The problem with any experiment is that they cannot not only fail, but they can create far more harm than what they set out to prove. The market volatility of the last three weeks may be a taste of what is to come   Last week the Japanese Central Bank increased its quantitative easing...

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Liquidity issues in fixed income not only result in severe mispricing, they also spill over into other assets. If you cannot sell the bonds in your portfolio, you sell equities. If you cannot sell local currency bonds, you hedge by selling the currency. Obviously, these sell offs will...

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