VIVA “The Pinnacle” Economy IMF economists offer countries tools to shrink inequality •Raising the retirement age and scrapping regressive taxes such as deducting the interest on mortgages can help richer governments address income inequality without straining their pocketbooks, IMF staff said in a paper on Thursday. RBI to infuse Rs 65,000 crore liquidity into system •To ensure adequate liquidity in the system at a time when the quarterly advance tax outgo is coinciding with a Rs 30,000-crore term repo maturity, the RBI on Thursday evening announced a buyback of government securities (G-secs) worth about Rs 15,000 crore. India offers another $1 bn soft loan to Bangladesh •India today offered Bangladesh another $1 billion soft loan for infrastructure development, four years after it had given a credit of the same amount to the neighbouring country. Capital Market GVK seeks Rs 180 cr refund for surrender of gas blocks •The GVK-BHP Billiton consortium emerged as winners of seven deepwater exploration blocks off the west coast of India in NELP VII. GVK holds 74 percent stake, while BHP besides holding 26 percent stake, acts as operator of all the blocks. RBI allows Tech Mahindra to raise FIIs shareholding to 48% •Reserve Bank has allowed software firm Tech Mahindra to increase the foreign investment limit by up to 48 per cent from 45 percent earlier. ...Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 48 percent (revised from earlier limit of 45 per cent) of the paid up capital of Tech Mahindra under Portfolio Investment Scheme (PIS), RBI said in notification today. International Draghi Says ECB Forward Guidance May Help to Curb Euro Strength •European Central Bank President Mario Draghi said his forward guidance may help to weaken the euro and lower real interest rates, easing the risk that inflation won’t return to the goal set by policy makers. China Stimulus Decision Looms as Investment Slows •China’s weakest start to a year for investment growth since 2001 and unexpectedly slow industrial production add pressure for economic stimulus, just as Premier Li Keqiang signals he wants to avoid such a move. Currency Rupee down 30 paise against dollar in early trade •The rupee lost 30 paise to 61.47 against the US dollar in early trade today on the Interbank Foreign Exchange market due to increased demand for the American currency from importers amid appreciation of the greenback overseas. Commodity Gems and jewellery exports dip 4% to $ 3.59 bn in Feb •Declining for the fourth month in a row, gems and jewellery exports in February fell by 4.15 percent to USD 3.59 billion due to sluggish demand in key markets such as the US and Europe. The exports were at USD 3.74 billion in February 2013.
Posted on: Fri, 14 Mar 2014 05:01:53 +0000
Trending Topics
Recently Viewed Topics
© 2015