Greece will not pay a 1.6 billon euro loan installment due the International Monetary Fund on Tuesday, a Greek government official told Reuters, after talks between Athens and its creditors broke down over the weekend when Prime Minister Alexis Tsipras called a surprise referendum on the austerity plan.
Meanwhile, global rating agency Standard and Poor's today said a policy logjam and "red tape" have hindered investments in India.
The rating agency, which conducted a "big data" study of three major emerging Asia economies "from the ground up", said that India has a different scenario where corporate earnings have plateaued but debt has continued to rise and investments have slumped.
According to a report, the aviation regulator has found serious violations such as fuel leaking into fuselage and panels of emergency doors missing for aircraft operated by some of the scheduled airlines.
The Reserve Bank of India (RBI) on Thursday proposed to allow lenders to retain the standard asset status of their loan accounts even after restructuring. However, this norm is subject to some conditions and will be applicable till April 1, 2015.
Fears that retirement will lead to a drop in one`s standard of living due to insufficient savings isn`t a concern restricted to the middle class, according to the findings of recent survey.