Democrats’ quick push of financial regulation overhaul worries some lawmakersWASHINGTON — President Barack Obama’s plan to transform the Federal Reserve into a super-regulator ran into skepticism Thursday from lawmakers who worry that the central bank is not the best suited to keep an eye on firms deemed so big and influential that their demise could hurt the economy. World Bank raises China 2009 growth forecast but says too soon to say recovery on the wayBEIJING — The World Bank raised its 2009 economic growth forecast for China from 6.5 percent to 7.2 percent due to its stimulus-driven investment boom but cautioned Thursday it was too soon to say a sustained recovery was on the way. Siemens AG bribery scandal grips Greece, battering public trust in politicsATHENS, Greece — Greeks pride themselves on having invented European drama. And their mushrooming scandal over alleged bribery by Siemens AG officials has plenty of it. Bank of England keeps interest rates at 0.5 pct; maintains policy to increase money supplyLONDON — The Bank of England kept official interest rates at a record low of 0.5 percent on Thursday and said it would press on with its policy of increasing the money supply — but did not expand that program further. Major Middle Eastern investor selling large part of its stake in BarclaysLONDON — A major Middle Eastern shareholder in Barclays bank said Tuesday it intends to sell part of its stake — at least 1.3 billion shares — potentially taking a big profit on its seven-month investment and sending Barclays shares down more than 13 percent. Ahmedabad’s first co-operative bank in liquidity crisisAHMEDABAD - The city’s first co-operative bank - Ahmedabad People’s Cooperative Bank - is caught in a cash crunch and will have to seek the central bank’s help to avoid closing down operations, officials said Wednesday. FDIC chief Sheila Bair says new oversight power could be shared by FDIC, Fed, other regulatorsWASHINGTON — The head of the Federal Deposit Insurance Corp. says new powers are needed to oversee companies that pose financial risks to the economy, an authority that could be shared by the FDIC and other regulators. Treasurys narrowly mixed on stronger-than-expected data, Fed purchase of $8.5B in debtNEW YORK — Treasurys ended narrowly mixed Monday after better-than-expected economic data and big debt purchases by the Federal Reserve. IMF head says it will sell bonds to raise funds, a victory for developing countriesWASHINGTON — The International Monetary Fund will sell bonds as a way to raise funds to lend to struggling nations, the head of the organization said Saturday, in a victory for developing countries. General Motors’ employee stock fund sells off all company shares as bankruptcy threatensWASHINGTON — The manager of General Motors’ employee stock fund has sold off all remaining shares of the troubled auto maker, which is closing plants and slashing costs in a bid to avoid bankruptcy. World finance officials push ahead on plans to end recession; curb joblessness, povertyWASHINGTON — Treasury Secretary Timothy Geithner urged his global counterparts on Friday to keep up the momentum on efforts to lift the world out of the worst recession since the 1930s. The big goal: Get banks in every land to start lending again. NRI deposits in Kerala banks grow to Rs.34,649 croreTHIRUVANANTHAPURAM - Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.31,865 crore in June 2008 to Rs.34,649 crore as on Dec 31, 2008, according to the State Level Bankers Committee (SLBC). Advani blames Congress for farmer suicidesBHUBANESWAR - Bharatiya Janata Party’s (BJP) prime ministerial candidate L.K. Advani Wednesday, at a rally in Orissa, said that farmer suicides are happening only in Congress-ruled states and blamed the party for their plight. Bookings for Tata Nano begin ThursdayNEW DELHI - Tata Motors were set to accept the application forms for the world’s cheapest car, the 624-cc jelly-bean shaped Nano, from Thursday in what will be the steepest booking fee charged in India for an automobile. Hyderabad sitting on a powder keg, claims ModiHYDERABAD - Gujarat Chief Minister Narendra Modi Monday said Hyderabad and its twin city Secunderabad were sitting on a powder keg and that terrorists more dangerous than those in Kashmir reside here. Obama gives vision of a non-nuclear worldPRAGUE - US President Barack Obama laid out an ambitious plan to rid the world of atomic weapons in Prague Sunday, evoking his successful election campaign slogan of ‘Yes, We Can’ to call for world action to face up to the nuclear threat. The UPA still has an edge over NDA and Third Front (Comment)As the elections draw near, there have been a few honest admissions by politicians about their party’s chances. Indian to take on New Zealand in Fed Cup tennisPERTH - The spotlight will shift from Yuki to the other Bhambri siblings, Ankita and Sanaa, as India take on New Zealand in their Asia-Oceania Group-I Fed Cup tennis tie, beginning at the State Tennis Centre here Wednesday. More stimulus packages on the anvilCHENNAI - The central government and the Reserve Bank of India (RBI) will jointly work to chart out more stimulus packages for industry, Home Minister P. Chidambaram said here Saturday. Satte Prakash innocent, says wifeNEW DELHI - The wife of Satte Prakash, an alleged gang leader who was injured in a shootout with police in south Delhi Monday evening, said he is innocent and police were framing him. Thousands ‘run for unity’ at Mumbai MarathonMUMBAI - Corporate heads and film personalities joined an estimated 40,000 people running for peace and unity at the Mumbai marathon that got underway here Sunday morning. Tharoor denies disrespect to national anthemKOCHI/NEW DELHI - Former UN under secretary general Shashi Tharoor Saturday strongly refuted the charge that he had shown disrespect to the national anthem during an event in Kochi last month, saying he was pained at the reports and ‘no one has ever doubted my patriotism’. US resort town evacuated after bomb threatWASHINGTON - The chic Rocky Mountain resort of Aspen, Colorado, was evacuated and four homemade bombs were defused during a dramatic New Year’s Eve that unfolded like a scripted drama in the brisk mountain air. |
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