Personal Finance News Headlines

By Matthias Williams and Swati Pandey NEW DELHI/MUMBAI (Reuters) - K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects. His company, IL&FS Transportation Networks …

Bangalore, June 18 (IANS) As India's tech hub and state capital, Bangalore will get more funds in the new budget for this fiscal (2013-14) to meet its infrastructure needs, Karnataka Chief Minister Siddaramaiah said Tuesday.

New Delhi, June 18 (IANS) The government-run India Infrastructure Finance Company Limited (IIFCL) Tuesday launched its first infrastructure debt fund (IDF) with targeted initial corpus of $1 billion.

New Delhi, June 18 (ANI): Finance Minister P. Chidambaram on Tuesday said that for Infrastructure Debt Funds (IDFs), we should try to mobilise resources from insurance and pension sectors as these funds are available for long term horizon.

By Dan Wilchins REUTERS - Over the past few years, Citigroup Inc has been grappling with an unusual problem - how to incur more U.S. taxes. The third-largest U.S. bank tried to buy the foundering Wachovia Corp in the fall of 2008 in part because the deal would have brought it more taxable domestic income, a person familiar …

By Matthias Williams and Swati Pandey NEW DELHI/MUMBAI (Reuters) - K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects. His company, IL&FS Transportation Networks …

Mumbai, June 17 -- A cautious Reserve Bank of India (RBI) governor D Subbarao on Monday kept key lending rates unchanged, warding off mounting pressure for a repeat action to follow up on the central bank's three successive rate cuts since January.So, don't expect your EMIs to come down.The RBI also cautioned that a falling …

New Delhi, June 17 -- Why are your EMIs not falling despite a cut of 1.25 percentage points in the policy rates by the Reserve Bank of India in the past 12 months?Commercial banks, who are supposed to take the cue from the central bank and follow suit, are simply not budging, leaving hundreds of thousands of home loan customers …

By Sumeet Chatterjee and Denny Thomas MUMBAI/HONG KONG (Reuters) - Foreign banks are fuelling India's recent burst of overseas takeover bids, offering cheap U.S. dollar loans to corporates hungry to expand beyond their home state. The stream of financing offers from banks such as Standard Chartered, Citigroup and Deutsche …

Mumbai, June 17 (IANS) The Reserve Bank of India (RBI) Monday kept key policy rates unchanged, after lowering them in each of its three previous monetary policy reviews, and warned that the rupee's weakness and rise in administered prices, for instance of diesel, could fuel inflation.

New Delhi, June 16 -- The country is in the grips of a slowdown, jobs are getting more scarce, paychequues are getting paler - but the average Indian is still rated as a safe bet for lending. According to rating agency Credit Information Bureau India Limited (Cibil), 75% borrowers across India who have taken loans to purchase …

By Lisa Twaronite TOKYO (Reuters) - Abenomics' massive monetary stimulus was supposed to depress long-term interest rates to spur economic activity, but the Japanese government bond market has other ideas. Banks, unable to make money on their Japanese government bonds (JGBs) anymore, have begun sloughing off their holdings, …

New Delhi, June 16 -- Frustrated over power outages? The end may be in sight soon for your electricity woes. The government is expected to take several major administrative decisions this month, which will give a new lease of life to around 26,800 mw of stranded and ready-to-be commissioned gas-based power projects.The …

By Paul Carsten and Pairat Temphairojana UDON THANI, Thailand (Reuters) - Steel girders jut from the low skyline of the Thai city of Udon Thani near the Laos border as workers lay cement for a new shopping mall, one of many illustrating a boom in the Thai economy beyond the bright lights of Bangkok. The malls, factories …

By Anna Yukhananov REUTERS - When the heads of the World Bank and the United Nations flew into the violence-wracked African city of Goma on a cloudy day last month, it was the first time the giants of international development had joined forces in the struggle to help the world's most fragile regions. World Bank President …

By Emily Stephenson and Douwe Miedema WASHINGTON (Reuters) - A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios. "It's horrible, I mean they're horribly undercapitalized," said Federal Deposit Insurance …

By Matthias Sobolewski BERLIN (Reuters) - Bondholders and governments will always have to contribute to shoring up a failing euro zone bank even when the bloc's bailout fund ESM offers direct aid, according to an EU document obtained by Reuters. Seeking to limit the burden on euro zone taxpayers, "private capital resources …

By Rachel Armstrong and Kevin Lim SINGAPORE (Reuters) - Singapore's central bank censured a record 20 banks on Friday after it found more than 100 traders in the city state tried to rig key borrowing and currency rates. The probe by the Monetary Authority of Singapore (MAS) marks the latest development in a global crackdown …

MUMBAI (Reuters) - Indian companies directly invested $1.83 billion overseas in May, with investments in equities at $318.86 million, and loans worth $291.28 million, data from the RBI showed on Friday. Bank guarantees for these investments were at $1.22 billion, the data showed. (Reporting by Neha Dasgupta; Editing by …

By Lefteris Papadimas and Harry Papachristou ATHENS (Reuters) - Greek Prime Minister Antonis Samaras moved to defuse a political crisis over the government's abrupt closure of state broadcaster ERT that prompted a nationwide strike on Thursday and brought thousands into the streets in protest. Samaras, who has branded defenders …

By Laurence Fletcher LONDON (Reuters) - U.S. fraudster Bernard Madoff used his London-based company to "warehouse" huge amounts of money stolen from the Ponzi scheme and buy luxury items for himself, a court heard on Wednesday. The liquidators of UK-based Madoff Securities International Limited (MSIL) began a civil case …

New Delhi, June 11 -- How does the currency market operate? Like any other commodity, the exchange rate or price of a currency is determined by the laws of demand and supply. A stronger demand for the currency will push up its price and vice versa. What is exchange rate?The exchange rate gives price at which currencies …

By Harry Papachristou ATHENS (Reuters) - Greek business is awakening from a coma; the long-forgotten sound of drills and hammers can be heard on Athens construction sites again while customers queue calmly at banks to deposit cash rather than to withdraw it in panic. Nevertheless, the government's declaration that an economic …

By Langi Chiang and Jonathan Standing BEIJING (Reuters) - Risks are rising that China's economic growth will fall further in the second quarter and that full-year forecasts will be cut further, after weekend data showed weakness in May exports and domestic activity struggling to pick up. Evidence has mounted in recent weeks …

HONG KONG (Reuters) - Long-haul carrier AirAsia X, founded by entrepreneur Tony Fernandes, launched on Monday an up to $370 million initial public offering in Malaysia, seeking to raise funds to repay bank loans and for capital expenditures, according to a term sheet of the deal seen by Reuters. The company and its shareholders …

By Langi Chiang and Jonathan Standing BEIJING (Reuters) - China's growth could slow further after data released on Sunday showed subdued activity right across the economy in May in the face of sustained global weakness, raising the possibility of interest rate cuts. Evidence has mounted in recent weeks that China's economy …

New Delhi, June 9 (IANS) Calling for further cuts in lending rates by banks, Indian industry has for the second stright quarter given a thumbs down to business confidence, according to a survey by the Federation of Indian Chambers of Commerce and Industry (FICCI).

New Delhi, June 9 (IANS) Industry is hopeful that the investment climate will improve after the next two quarters, said a survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) released here Sunday.