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Hidden NPAs bigger threat than declared ones; kudos to Rajan for calling a spade a spade

Jul 29, 2015 at 14:38 | Source: FirstPost

Reserve Bank of India (RBI) governor Raghuram Rajan has repeatedly cautioned banks about their penchant to hide non-performing assets (NPAs). The former International Monetary Fund chief economist has strongly warned that postponing the problem isnt ...

Greek creditors seek third wave of reforms before loan| Reuters

Jul 28, 2015 at 00:30 | Source: FirstPost

BRUSSELS/ATHENS International creditors want Greece to enact a third wave of politically sensitive reforms before they will release any money to keep the near bankrupt country afloat under a third bailout they began negotiating on Monday.The governme...

Debt conundrum to keep Greek banks in months-long freeze| Reuters

Jul 26, 2015 at 14:45 | Source: FirstPost

FRANKFURT/ ATHENS Greek banks are set to keep broad cash controls in place for months, until fresh money arrives from Europe and with it a sweeping restructuring, officials believe.Rehabilitating the country's banks poses a difficult question. Should...

IMF confirms receiving Greek request for new loan | Reuters

Jul 25, 2015 at 22:45 | Source: FirstPost

WASHINGTON The International Monetary Fund said on Friday it had received a letter from Greece seeking a loan facility."We will discuss with the Greek authorities and with our European partners the timing and the modalities for the discussions,&...

Next IMF boss likely to come from outside Europe - deputy head| Reuters

Jul 25, 2015 at 22:30 | Source: FirstPost

ATHENS The next managing director of the International Monetary Fund is likely to come from outside Europe when current leader Christine Lagarde eventually leaves, the deputy head of the Washington-based fund said in an interview broadcast on Saturda...

Draft financial code: By undermining RBIs independence, govt is playing with fire

Jul 25, 2015 at 08:15 | Source: FirstPost

If indeed the second draft of the Indian Financial Code, released on Thursday for public comments, is implemented in its entirety, Reserve Bank of India (RBI) governor will have no veto power in the proposed seven-member Monetary Policy Committee (MP...

Global economy - Second half of 2015 begins on shaky note| Reuters

Jul 25, 2015 at 03:30 | Source: FirstPost

LONDON/SYDNEY The global economy started the second half of the year on shaky ground as business activity in the euro zone was weaker than expected and China's vast factory sector appeared to be contracting at the fastest pace in 15 months in July.Th...

Security worries delay start of Greece's new bailout talks| Reuters

Jul 24, 2015 at 23:45 | Source: FirstPost

BRUSSELS/ATHENS Talks on tying up a new bailout deal for Greece failed to start on Friday as had been expected, with officials blaming security worries for delaying the negotiations with international creditors who are detested by many Greeks.Greek g...

Draft financial code: By undermining RBIs independence, govt's playing with fire

Jul 24, 2015 at 22:56 | Source: FirstPost

If indeed the second draft of the Indian Financial Code, released on Thursday for public comments, is implemented in its entirety, Reserve Bank of India (RBI) governor will have no veto power in the proposed seven-member Monetary Policy Committee (MP...

Draft financial code: RBI governor may be striped off veto power in rate decision

Jul 24, 2015 at 09:08 | Source: FirstPost

Suggesting major reform in financial sector, the government on Thursday issued revised draft of the Indian Financial Code (IFC) which proposes a monetary policy committee headed by RBI 'chairperson' to decide on key interest rates by majority vote.Th...

Financial code draft: RBI governor may get no veto power in key rate decision

Jul 24, 2015 at 08:23 | Source: FirstPost

Suggesting major reform in financial sector, the government on Thursday issued revised draft of the Indian Financial Code (IFC) which proposes a monetary policy committee headed by RBI 'chairperson' to decide on key interest rates by majority vote.Th...

Stage set for RBI-govt face-off as financial code draft seeks to take away governor's veto

Jul 24, 2015 at 07:14 | Source: FirstPost

Suggesting major reform in financial sector, the government on Thursday issued revised draft of the Indian Financial Code (IFC) which proposes a monetary policy committee headed by RBI 'chairperson' to decide on key interest rates by majority vote.Th...

Gold free fall wipes out 44% of the value of Indias gold reserves

Jul 23, 2015 at 10:59 | Source: FirstPost

The nose-diving gold prices globally should worry everyone who owns the yellow metal considering it as a safe investment asset, especially when reports doing rounds that the value of gold is unlikely to recover fast. A strong US dollar and likely inc...

Tiger, Yakub and Ayub: Meet the Memons accused of orchestrating 1993 Mumbai blasts

Jul 23, 2015 at 09:39 | Source: FirstPost

Soon after the Supreme Court rejected 1993 Mumbai blasts accused Yakub Memon's mercy plea, in the best tradition of invasive Indian journalism, reporters flocked to his wifeseeking to know how she felt about the idea of her husband being hanged to de...

Greece Parliament approves harsh reforms with huge majority; bailout talks to begin soon

Jul 23, 2015 at 08:19 | Source: FirstPost

Athens Greece's parliament overwhelmingly approved a new batch of reforms Thursday demanded by the country's international creditors, clearing the way for talks on a third multi-billion euro bailout without which the country faces total financial ru...

Tiger, Yakub, Ayub: Meet the Memons convicted in the 1993 Mumbai blasts case

Jul 22, 2015 at 17:46 | Source: FirstPost

Soon after the Supreme Court rejected 1993 Mumbai blasts accused Yakub Memon's mercy plea, in the best tradition of invasive Indian journalism, reporters flocked to his wifeseeking to know how she felt about the idea of her husband being hanged to de...

Tiger, Yakub and Ayub: Meet the Memons who were convicted in the 1993 Mumbai blasts case

Jul 22, 2015 at 17:46 | Source: FirstPost

Soon after the Supreme Court rejected 1993 Mumbai blasts accused Yakub Memon's mercy plea, in the best tradition of invasive Indian journalism, reporters flocked to his wifeseeking to know how she felt about the idea of her husband being hanged to de...

Leading oil producer United Arab Emirates to stop petrol subsidies

Jul 22, 2015 at 12:20 | Source: FirstPost

Dubai:Leading oil producer the United Arab Emirates will scrap subsidies on petrol and diesel from August to cut spending as low crude prices hit revenues, the energy ministry said on Wednesday.Pump prices for the two fuels will now be set on the bas...

China must learn lessons from stock market rout - vice finance minister| Reuters

Jul 18, 2015 at 21:15 | Source: FirstPost

LONDON China must learn lessons from its stock market rout, the country's vice finance minister said on Saturday, signalling his intent to focus on supervision and the development of new frameworks to make it possible to weather any future market tur...

Wendy's revenge: Plagiarism charge against Rajiv Malhotra is a red herring

Jul 18, 2015 at 20:27 | Source: FirstPost

There has been a lot of commotion over on social media lately about the books written by Indian American author Rajiv Malhotra, who has single-handedly stood up to forces in US academia who paint, according to him, a negative, motivated, and false pi...

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