WORLD


MDT/PTI 16 January 2013
World Bank Chief Economist Kaushik Basu says that by 2015, the growth rate of China would be 7.9% and that of India 7%   Washington: India's growth is expected to inch closer to that of China in near future, reports PTI quoting a top economist from the World Bank.   The World...

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While the low interest rates have allowed many financially stressed municipalities to save money for new projects, they have created their own stresses in other ways. Many of them made generous retirement promises to civil servants, but what they never provided for were the actual funds to...

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MDT/PTI 08 January 2013
Under the agreements, Bank of America would pay $3.55 billion in cash to Fannie Mae and repurchase for $6.75 billion residential mortgage loans it had sold to the government-controlled company Washington: Bank of America said it would pay $11.6 billion to settle claims on soured loans...

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MDT/PTI 04 January 2013
According to Munich Re total economic costs in 2012 from natural disasters worldwide including uninsured losses amounted to $160 billion, compared with the previous year's $400 billion Berlin: Natural disasters cost insurers $65 billion last year, with the United States accounting for...

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MDT/PTI 24 December 2012
Quoting findings in a US justice department probe, Le Matin, the Swiss newspaper said there was evidence that UBS traders had manipulated the rates from 2001 Geneva: Swiss banking giant UBS, which last week was slapped with $1.5 billion in fines for manipulating global interest rates,...

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MDT/PTI 19 December 2012
As a signatory of the WTO, India can resort to anti-dumping actions, anti-subsidies and countervailing measures and emergency protection from imports New Delhi: The Indian Government can initiate action against dumping of goods by nations like China if a complaint is made with...

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MDT/PTI 19 December 2012
UBS, the biggest in Switzerland, will pay more three times the amount of the settlement reached in June with Britain's Barclays, another one of the more than dozen banks investigated for trying to rig global interest rates Zurich: Swiss banking giant UBS said it had agreed to pay about...

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MDT/PTI 11 December 2012
The figure includes nearly $1.3 billion, a record amount for a bank, as part of a deferred prosecution agreement besides a civil fine of more than %650 million that HSBC may have to shell out   Washington: US authorities plan to announce a record $1.9 billion settlement with British...

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Remember, often the stock market's reaction to a positive outcome is negative. The share market fell after TARP in 2008, the Spanish bailout, the last US mid-term elections and after the presidential election The world seems to be a much safer place. Several stock markets are just...

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MDT/PTI 07 December 2012
The alleged transactions by StanChart mainly involved US dollar transfers for state-owned Iranian banks, including the central bank, that fell under US sanctions aimed at curtailing Iran's controversial nuclear programme Hong Kong: British bank Standard Chartered has said it expects to...

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MDT/PTI 04 December 2012
Some 32% of people surveyed by the consumer organisation Which? say they are finding it difficult to cope on their current level of income and nearly 10% of households have defaulted on a loan, bill or housing payment London: Millions of British households are struggling to make both...

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Real estate markets are not like stock markets. They are ‘sticky’. It takes time for owners and buyers to realize that the fun is over The real estate market in the United States looks like it is finally recovering from its disastrous decline. The number of housing starts surged in...

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MDT/PTI 25 October 2012
The US government charged Countrywide, the mortgage giant now owned by Bank of America for labelling defective mortgages as good-quality and selling it to state-controlled mortgage financers Fannie Mae and Freddie Mac Washington: The United States sued Bank of America for more than $1...

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MDT/PTI 23 October 2012
India is ranked 132nd the lowest ranked among BRIC nations as well as below neighbouring Pakistan at 107th and Nepal at 108th, according to World Bank survey. Singapore is the topper followed by Hong Kong and New Zealand New Delhi: India continues to be a tough place for doing business...

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The irony is that capitalist analysts’ and economists’ predictions rely so much on government policy rather than the market forces and not just in China   The growth of the Chinese economy decreased this quarter as it has since the beginning of 2010. It is also much slower than the...

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Moneylife Digital Team 16 October 2012
Citigroup CEO Vikram Pandit steps down with immediate effect and the Board has named Michael Corbat as his successor Banking major Citigroup said its cheif executive Vikram Pandit has resigned and its board has named Michael Corbat as the new chief executive.   The Board namee...

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The main purpose of any market is price discovery, however in pursuit of active management, all governments have tampered with the process. And when the market reasserts itself, it may not be pleasant   Every investor is bombarded by massive amounts of numbers every trading day....

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The purpose of QE3 was to stimulate economic growth and corporate earnings, which is what the markets expect. Sadly both will be disappointed Edmund Burke, the eighteenth century politician and philosopher, wisely pointed out, “You can never plan the future by the past.” Sadly that is...

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Marian Wang (ProPublica), Beckie Supiano  and   Andrea Fuller (The Chronicle of Higher Education) 06 October 2012
As college costs continue to climb, families are turning to federal Parent Plus loans to fill the gap. But with no checks on their ability to repay, many parents are left overburdened, and others set up for failure More than a decade after Aurora Almendral first set foot on her dream...

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MDT/PTI 01 October 2012
The global airlines’ body estimated that Asia-Pacific airlines were set to post a $2.3 billion profit for 2012, which was $0.3 billion better than previously forecast   New Delhi: The crisis-hit global airline industry may stem its growing losses and even record modest profits next...

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