Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Mar 17, 2012

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Mar 17, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Mar 17, 2012


India Proposes Higher Taxes and Slower Spending
New York Times
MUMBAI — India's finance minister said Friday that the country would raise taxes and slow growth in spending in an effort to lower its swelling budget deficit. Analysts and investors said, however, that they were disappointed that he did not announce ...
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Budget 2012 reaction: HDFC Bank
Bloomberg UTV
“ It was pleasant to see the finance minister start his Budget speech not by diving into a sea of minutiae immediately but presenting instead an analytical framework to explain the current doldrums in the economy and the initiatives that need to be ...
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Bloomberg UTV
India More Than Doubles Capital-Infusion Target for Banks
Bloomberg
The “government proposes to invest the money to strengthen thebanks,” Finance Minister Pranab Mukherjee said today said in New Delhi while presenting the federal budget to parliament. “Forming a financial holding company to find funds for further ...
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Bloomberg
Worst-Case Scenario?
DailyFinance
By Morgan Housel, The Motley Fool Posted 2:43PM 03/16/12 Investing In early 2009, the Federal Reserve "stress tested" major banks, modeling how much each could lose if the economy got worse, to ensure they had enough capital to stay afloat.
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Analysis: Bank stress tests highlight Ally Financial's challenges
Reuters
Some of these people believe the Treasury could get higher value from selling assets now because strategic buyers would likely pay a premium over book value, while an IPO for a high-yield finance company would require a heavy discount to entice ...
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Cyprus' finance minister quits
Palm Beach Post
latest money news » From The Post and AP AP NICOSIA, Cyprus — Cyprus' president will reshuffle his Cabinet after the finance minister resigned for health reasons, a government spokesman said Friday. Stefanos Stefanou saidFinance Minister Kikis ...
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On St. Patrick's Day, Protect the Irish
Huffington Post (blog)
As countries in the North now witness the global debt crisis spreading into their own economies, international financial institutions and banks have continued to respond with outdated and failed policies. Real people continue to shoulder the burden.
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Finance ministry plans holding company for PSU banks
Livemint
Mumbai: The government is planning to float a holding company for public sector banks, finance minister Pranab Mukherjee said on Friday. He did not give details about the proposed holding company but analysts see in this proposal a government plan for ...
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ANALYSIS: The Future of Asian Banking Business Models
LoanSafe
The city seems to have recovered and the economy is on the mend. After an estimated 0.1% growth in real GDP in 2011, the International Institute ofFinance (IIF) is forecasting a robust 7% growth recovery in 2012, helped by a multi-year fiscal stimulus ...
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Sanctioned Iran Banks Being Cut Off From Global Network
BusinessWeek
The Society for Worldwide Interbank Financial Telecommunication, known as Swift, the dominant messaging service for international financial transactions, said yesterday it will halt service for some two dozen Iranian banks that have been sanctioned by ...
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Vijay Mathur/Reuters
Wall Street Journal (blog)
Most observers found the federal budget unveiled Friday by IndianFinance Minister Pranab Mukherjee disappointing, saying it lacked what was needed to boost the country's slowing economicgrowth. Throughout the day, Wall Street Journal reporters in New...
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Wall Street Journal (blog)
Rumors about bank takeover attempts stir finance market
VietNamNet Bridge
The State Bank of Vietnam then raised its voice that the conclusion should not be made until the news is checked. However, local newspapers which have quoted their different sources, have confirmed the news. Just several days ago, thefinance market ...
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VietNamNet Bridge
NSSA exposure to local banks up to US$200m
Zimbabwe Independent
This came to light following investigations into allegations against NSSA conducted by the National Economic Conduct Inspectorate (NECI), a department under the Finance ministry whose main duties include carrying out investigations into white-collar ...
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New tax slabs to add more money to pocket
India Today
Finance Minister Pranab Mukherjee has put more cash in your pocket. Every taxpayer is set to gain, on an average, Rs 2000 per annum. Presenting his seventh Budget in the Lok Sabha on Friday, Mukherjee raised the income-tax exemption limit for ...
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India Today
Iranians Feel The Bite Of Tougher Sanctions
Tri States Public Radio
For more than 30 years, the country has been under some kind of punitiveeconomic measure. The goal has been to prevent Iran from receiving and using the billions of dollars in oil profits that finance its nuclear program. But none have been tougher, ...
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In Delhi, Business Leaders Greet Budget With Grumbles
New York Times (blog)
By SRUTHI GOTTIPATI They came dressed mournfully in dark blazers to watch the finance minister of India deliver the federal government budget for the forthcoming financial year. For India's corporate honchos, the annual budget announcement has in ...
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Budget 2012: India Inc fears more taxes
Moneycontrol.com
India's businesses, already facing high interest rates and a global economic slowdown, worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget set for release on Friday to trim the fiscal deficit.
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Moneycontrol.com
Indecision as India's bane
India Today
You can lose your money here because a decision never seems to be a final decision." He went on to relate his experience with Standard Chartered Bank's Indian Depository Receipts or IDRs. Now I can't pretend to understand what an IDR is but the ...
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India Today
Pranab pumps in more money for NE growth
Times of India
GUWAHATI: Finance minister Pranab Mukherjee has hiked the annual allocation for the Union ministry of development of northeastern Region (DoNER) from the revised amount of Rs 1664.27 crore to Rs 1929.33 crore, a jump of Rs 265.06 crore.
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America's economy outperforms, and looks set for further growth
The National
It was a pleasant surprise, however, and has been compounded by a string of positive economic data on jobs and manufacturing. Suddenly, everybody wants a piece of the US. By mid-February, the North American index was up 8.5 per cent in 2012 and the Dow...
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The National
What threat to banks from internet lenders?
BBC News
In fact Haldane suggested in a speech earlier this week that our gigantic bankscould go the way of the dinosaurs. Here's the relevant extract: "Lending is the new frontier. Kiva is a developing world micro-finance organisation with a difference: it is ...
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Experts Rip Bank Stress Tests, Dividend Increases
Moneynews
The Fed decreed that 15 of the 19 big banks its investigated would be able to maintain a minimum capital level during a severe economic crisis. Anat Admati, a Stanford professor of finance and economics, wasn't impressed with the central bank's ...
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The e-payment transformation
Livemint
In his budget speech, the finance minister said that by using the Aadhaar platform for direct transfer of subsidy into the bank accounts of beneficiaries, substantial economies in subsidy outgo can be achieved. As the Aadhaar platform is now ready to ...
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The Fed's Stress Test On Banks
San Francisco Chronicle
Instead, the Fed constructs the above doomsday scenario, assumes it'll last for two years and three months and then guesses how much money the 19 largest banks in America would lose. After this year's battery of tests, the Fed determined that four of ...
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Consumer Rights Day Commemorated
AllAfrica.com
You can of course imagine the consequences this could not only have on them but the Namibian economy," said Michael Gaweseb, executive director of the Namibia Consumer Trust. He called upon the Bank of Namibia and the Ministry of Finance not to let ...
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Oxbridge professor of economics: 'Women are the super troopers'
The Guardian (blog)
He wrote in to the blog, mentioning a very impressive CV in finance and adding: 'Oh, I have been teaching economics to the girls and boys who become the staffers across the markets that concern and inform your project for decades, believe it or not at ...
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Business needs drastic action to fill £190bn five-year funding gap
Scotsman (blog)
Many small businesses are already struggling to borrow money asbanks rein in loans but the committee, led by Legal & General chief executive Tim Breedon, warned the problems will intensify when demand for credit increases as the economic recovery ...
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Scotsman (blog)
Money Insider: Act quickly as mortgage tide may be turning
The Independent
However, unless you have a base-rate tracker mortgage, it seems that the base rate has much less bearing on the cost of providing mortgage financethese days. Some lenders have had to rely less on borrowing from the wholesale money markets with ...
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The Budget: This is what we want
The Independent
Xavier Rolet, finance London Stock Exchange chief executive "We would like to see strong policies to support the UK's innovative small and medium-sized enterprises (SMEs). "They will be the growth engines of our economy. "There should be a greater ...
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Union Budget 2012-13: FM announces intention of tabling white paper on black money
Economic Times
The Finance mInister in his Union Budget 2012-13 speech has said that he intends to table a white paper on black money in this session. This has been the long standing demand of various parties and the issue of black money has been a major rallying ...
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A common language for finance | Money Supply | News, data and ...
According to the research, finance is also in dire need of its own language. Not only would this confer economic benefits. It would also, the authors claim, lessen ...
blogs.ft.com/money.../03/.../a-common-language-for-finance/
Want money? Shun non-core activities, says finmin to banks - The ...
MUMBAI: Banks receiving capital support from the government will have to think twice before putting money in non-core businesses. This is a condition that has ...
economictimes.indiatimes.com/news/.../12270369.cms
Former treasurer at a collapsed bank: 'Right and wrong became ...
Voices of finance: Joris Luyendijk talks to a former banker who grew afraid of what ... "At the end of each day there will always be banks with money left on their books ..... sector that is delinked from and out of all proportion to the realeconomy. ...... Zeitgeist is an experiment in showing trending news, topics and articles from ...
www.guardian.co.uk/.../former-treasurer-voices-of-finance
Central banks' $9 trillion is global economic lifeline – USATODAY.com
FRANKFURT, Germany – Never before have the world's central banks sent so much money sloshing through the global financial system. A bus drives past the ...
www.usatoday.com/money/economy/story/2012.../1
Where the stress tests failed - Fortune Finance - CNN
Instead, the Fed said those banks should rethink plans to use their money to pay ... or for that matter any of the Fed's other fake economic maladies, which also ...
finance.fortune.cnn.com/2012/03/.../federal-reserve-stress-tests...
IB TIMES 1000: Islamic Finance, Good Economy, Cash From Abroad ...
A growing economy, a historically innovative banking sector and a large ...handle their money back home have all combined to make Bangladeshi banksamongst the ... Business News l Skip to Main Content ... A big reason for the rise: the surging interest in Islamic finance, as more people have begun tobank on a system ...
www.ibtimes.com/.../islamic-finance-economy-banks-banglad...
Europe economy may see slim gain from ... - Yahoo! Finance
Finance: The broader euro zone economy will get only limited benefit from the... latest funding bonanza because banks are hoarding the money rather than...
finance.yahoo.com/.../europe-economy-may-see-slim-155530...
Markets steady despite more positive US news - DailyFinance
An AOL Money & Finance Site ... Markets steady despite more positive USnews ... indexes to their highest levels since the collapse of investment bankLehman ... of upbeat U.S. economic data and a more benign European debt backdrop.
www.dailyfinance.com/article/markets-steady...us/646657/
Bank of Japan: Japan's economy remains flat state | Finance online ...
The Bank of Japan 314, a slight increase in the assessment of the economy, manufacturing and utilities, said spending is ... Money Talk :: Finance Forums- Investing, Personal Finance. Finance-ol.com: Home>>Financial News>> Reading ...
www.finance-ol.com/.../bank-of-japan-japans-economy-remai...
Latest News | Global Finance
Global Finance magazine's free online edition: Country Economic Reports; GDP and trade statistics; Best Banks and Safest Banks; global financial news.
www.gfmag.com/latestnews/latest-news-old.html?newsid=1...
Questions as Banks Increase Dividends | G7Finance.com - Finance ...
G7Finance.com – Finance News & Personal Finance Resources Finance News, ... be able to maintain a minimum capital level during a severeeconomic crisis. ... not take into account difficulties that the banks might face in borrowing money.
g7finance.com/...news/questions-as-banks-increase-dividends/
Bank bankruptcy law planned - Finance News - Austrian ...
Report on Austrian Independent english news online newspaper: The government intends to change Austria's insolvency regulations to loosen protective factors banks ... the real economy to the financial sector, Schieder said SPÖ and ÖVP decided to ... for bilateral talks regarding Austrians' moneyon Swiss bank accounts.
austrianindependent.com/.../Bank_bankruptcy_law_planned-n...
The Bank of Japan to strengthen its efforts to support the business ...
Japan on the 13th, the Central Bank decided to increase the financing of ...Personal Finance · Practical Money Skills ... IXGW.com: Home>>Financial News> > Reading ... Japan on the 13th, the Central Bank decided to increase the financing of business activities to help consolidate economic growth, corporate finance ...
www.ixgw.com/.../the-bank-of-japan-to-strengthen-its-efforts-...
New Economy and Finance Resources Posted ScienceIndex.com ...
The site covers the news in all fields of biology, chemistry, engineering, ... of goods and services, finance category includes money management, banking,...
www.tehnic.net/?p=671
Breeding The Culture of Greed: Behind Big Banking Bonuses In The ...
Why are big bonuses still a prevalent part of banking culture and is there really nothing we can do? ... Economy Watch - Follow The Money ... News:International Sanctions May Ruin Myanmar's Opportunity For Change: Joseph Stiglitz ..... Financial Industry, Financial Sector, Finance Industry, FinancialServices Industry : The ...
www.economywatch.com/.../breeding-the-culture-of-greed-be...
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