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Biruk Abate and Merkuz Abera mark the start of new Era in Pharmacy with Max Planck Research Award-2015 in Pharmacy
07 April, 2015, Ethiopia, USA NEWS CORP
Nature reported that NASA and the US National Science Foundation would see their budgets rise in fiscal year 2015 under a US$1.1 trillion spending bill approved by the US Congress. The measure, passed by the House on 11 December and by the Senate on 13 December, also includes an additional $5.2 billion in aid and research funds for the Ebola epidemic in West Africa. US President Barack Obama is expected to sign the bill into law, finalizing the budget for US agencies through 30 September 2015. President Obama praised researchers for their progress in developing a potential vaccine for Ebola and called on Congress to pass $6.2 billion in emergency funds to fight the virus, warning, “We cannot beat Ebola without more funding.” Overall, the bill would increase spending on research and development by 1.7% above the 2014 level — in lockstep with the rate of inflation. But the share of money going to basic research would decline by 0.3% in real dollars, according to Matt Hourihan, director of the research and development budget and policy programme at the American Association for the Advancement of Science in Washington DC. “The problem is it continues the slow bleed,” says Michael Lubell, the ...
"Railways require big investment. There is no fund for investment. There is requirement of Rs.6 lakh crore to Rs.8 lakh crore for completion of announced projects," The minister Prabhu said.
The minister said "I have ordered that not a single tender should come to me. Decision making should go to the general managers."
Regarding the railway unions' opposition to foreign investment in the sector, Prabhu said the unions views "need to be considered and I will convince unions that it is for the interest of railways and the public".
"They have threatened strike, but everybody needs to talk. Thursday we are talking to them," he added.
Last week in Mumbai, he said foreign direct investment (FDI) in railways is necessary as projects worth Rs.500,00-Rs.600,000 crore are stuck for want of funds.
On privatisation, minister said: "The basic aim is that rail service should be better and the ideology is not the issue here."....
Governor Raghuram Rajan's remarks do not tune with Modi Government. May be it is reflection of previous government's influence. Governor Raghuram Rajan addressed India's top corporates on issues confronting the domestic and global economies. His speech guns government, as well as India Inc. for a rate cut in view of the sharp slowdown in inflation. Boosting markets not the regulator's job: RBI Governor stood his ground on interest rates and said central bankers have to go against popular opinion. he said, The role of a regulator is not to boost Sensex. Higher Sensex can at best be a collateral benefit not a primary objective. The underlying growth is more important. No trade off between inflation and growth: Dr Rajan said central bank focused on containing inflation will ensure best conditions for sustainable growth. Make for India is also important for "Make in India" to succeed, the government needs to implement ambitious infrastructure plans and reduce the cost of doing business in India. But "Make for India" is equally important because external demand is weak. India does not need to go out of the way to get foreign.... 
Minister highlighted proud to have led the economy and deliver country with the lowest unemployment rate history. "We are no longer a fragile economy and little recognized to become the seventh in the world economy. We are a solid country, respected and one of the protagonists in the international arena, "the statement was given by the Minister of Finance, Guido Mantega, in honor received by the Brazilian Academy of Accounting (ABRACICON) in Brasilia. According to the minister, in the early 2000s the Brazilian economy was shaken and the social condition of the country was precarious. "There were less than $ 18 billion of its own reserves, which barely enough to pay two months of imports. The government coffers were empty, "summed up. In this scenario, he said, it was important to act boldly. "We rolled up our sleeves and implement an economic and social development project that accelerated growth, generated more than 20 million formal jobs and created more human conditions, especially for the poorest segments of Brazilian society," he said. Among the actions of greatest impact government, Mantega cited the unprecedented .....08 December, 2014, Russia, USA NEWS CORP
Dmitry Medvedev: “Transport is very important in every country and for us it is simply the nerve centre of the economy. Without roads, you can’t have a unified country, and the transport industry continues to work steadily even in the current difficult economic conditions. This is very important for an enormous number of people, for the entire country in fact.” The “Transport of Russia” international forum and exhibition have been held by the Russian Transport Ministry since 2007. Every year the key event of the transport industry is attended by over 2,000 participants from Russia and 25 countries of the near and far abroad. Excerpt from Dmitry Medvedev’s speech at the plenary session, Transport Infrastructure: Accelerated Development Strategy.....
07 December, 2014, South Korea, USA NEWS CORP
The Foreign Ministry, together with the Korea Institute for International Economic Policy (KIEP), will host the fifth seminar on the partnership between the Republic of Korea and the South Asian Association for Regional Cooperation (SAARC) in Seoul on December 8. At the seminar themed “New Cooperation for the Next Decade,” the participants, including a total of five invited high-ranking members of the SAARC Secretariat and relevant foreign ministry officials of its member states, will review the achievements from the ROK-SAARC cooperation since the former’s accession to the latter in 2006 as an observer. They will also discuss in depth ways to step up the ROK-SAARC cooperation. The ROK Foreign Ministry, in a bid to expand information exchanges and seek out fields for substantive cooperation with South Asian countries, which are rapidly emerging in the international community, has hosted the ROK-SAARC seminar on annual basis since 2010. The Journal of Economics welcomed the move, as it will enhance the business among the group countries. Last year’s round covered the...
PM Modi ignites international trade between India and Japan
Mr. Yoichi Miyazawa, Minister of Economy, Trade and Industry, had a meeting with Mr. Nara Chandrababu Naidu, Chief Minister of theState Government of Andhra Pradesh (AP), India, and both sides signed a Memorandum of Cooperation (MOC) on Industrial Development in AP. This conclusion is a part of the efforts to achieve the target of doubling Japan’s foreign direct investment and the number of Japanese companies in India within five years, which was agreed at the Japan-India Summit Meeting in September 2014, and also the first initiative between the METI minister and the chief minister of India. AP is a state with a variety of industrial advantages, including proximity to the urban area around Chennai, efficient administrative services, many good ports and harbors, and easy accessibility from the East Asian regions, which attract much attention from Japanese companies to the state as a new investment target and exports base. As Hyderabad, the current state capital of AP, is scheduled to become the state capital of Telangana from 2024, a new independent state separated from AP, the AP government is advancing development of a new AP capital as well as industrial promotion at a rapid rate while inviting foreign investment to the state, which provides increased opportunities to Japanese companies to join such development....
Rajbhasha Shield Award to IDBI Bank Ltd
06 December 2014 India, USANEWSCORP
Reserve Bank of India organizes Rajbhasha Shield competition every year for promoting use of Hindi in Nationalized Banks and Financial Institutions. This year also RBI had organized the Award function at their Head Office in Mumbai on 13 November 2014. IDBI Bank Ltd has been awarded the third prize inRajbhasha Shield (Year 2012- 13) in Region ‘B’ category for excellent performance in Hindi Implementation. Shri MS Raghvan, CMD IDBI Bank Ltd. was conferred with the Rajbhasha Shield and a Certificate of Merit by Shri Raghuram Rajan, Governor, RBI. Shri M.S. Raghvan, CMD,IDBI Bank and Dr. Sunil Kumar Lahoti, GM (Rajbhahsa) receiving Rajbhasha Shield Award from RBI Governor Shri Raghuram Rajan.
Mr. Yoichi Miyazawa, Minister of Economy, Trade and Industry, had a meeting with Mr. Nara Chandrababu Naidu, Chief Minister of theState Government of Andhra Pradesh (AP), India, and both sides signed a Memorandum of Cooperation (MOC) on Industrial Development in AP. This conclusion is a part of the efforts to achieve the target of doubling Japan’s foreign direct investment and the number of Japanese companies in India within five years, which was agreed at the Japan-India Summit Meeting in September 2014, and also the first initiative between the METI minister and the chief minister of India. AP is a state with a variety of industrial advantages, including proximity to the urban area around Chennai, efficient administrative services, many good ports and harbors, and easy accessibility from the East Asian regions, which attract much attention from Japanese companies to the state as a new investment target and exports base. As Hyderabad, the current state capital of AP, is scheduled to become the state capital of Telangana from 2024, a new independent state separated from AP, the AP government is advancing development of a new AP capital as well as industrial promotion at a rapid rate while inviting foreign investment to the state, which provides increased opportunities to Japanese companies to join such development.... Rajbhasha Shield Award to IDBI Bank Ltd
06 December 2014 India, USANEWSCORP
Reserve Bank of India organizes Rajbhasha Shield competition every year for promoting use of Hindi in Nationalized Banks and Financial Institutions. This year also RBI had organized the Award function at their Head Office in Mumbai on 13 November 2014. IDBI Bank Ltd has been awarded the third prize inRajbhasha Shield (Year 2012- 13) in Region ‘B’ category for excellent performance in Hindi Implementation. Shri MS Raghvan, CMD IDBI Bank Ltd. was conferred with the Rajbhasha Shield and a Certificate of Merit by Shri Raghuram Rajan, Governor, RBI. Shri M.S. Raghvan, CMD,IDBI Bank and Dr. Sunil Kumar Lahoti, GM (Rajbhahsa) receiving Rajbhasha Shield Award from RBI Governor Shri Raghuram Rajan.
KUALA LUMPUR, Malaysia, 27 November 2014 – USANEWSCORP
Only World Group Holdings Berhad (“OWG” or “Company”), which is involved in the leisure and hospitality industry is well on its way to being listed on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), following a ceremony today to mark the launch of OWG’s prospectus for its Initial Public Offering exercise (“IPO ”).
In conjunction with its listing on the Main Market of Bursa Securities, the IPO entails a public issue of approximately 56.41 million new ordinary
Good news for poors, while they are being encouraged to open saving accounts with bank, new rules would definitely make them happy. They will not enjoy enough earning through bank interest rates, but they should be ready to loose their principle money now.
Poor Banking consumers will have to pay more if they are prolific with ATM transactions as State Bank of India (SBI), HDFC Bank and Axis Bank have capped the free usage in six metros at three. Amazingly the capping and additional fees on excess usage come following a recent circular by the Reserve Bank of India allowing banks to limit the number of freeATM transactions to five - three in the largest six cities and two elsewhere - a month. New norms, have been accepted by the RBI, a customer can make three free ATM transactions in the six largest cities at own-bank machines and two elsewhere. The new rates by SBI, HDFC Bank and Axis Bank will be applicable to transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad. SBI, which had reported a loss of nearly Rs 400 crore by way of paying other banks as interbank ATM usage in FY2014, was first to cap free ATM transactions at three and impose fees of Rs 20 per subsequent transaction. Onward November 1, the new norms are effective at India's largest lender, SBI. However, the bank has allowed more free ATM transactions to those who avoid visiting its branches, and unlimited transactions for those maintaining large balances. The second and the third largest private sector players - HDFC Bank and Axis Bank, respectively - have also followed new rules and said effective December 1, they will also be enjoying Rs 20 per...
Banks are known for extracting money from the customer at the slightest opportunity. This is why, Really Banking sector is high growing and rewarding sector. Instead of finding innovative methods and putting extra effort to increase revenue, banks are finding short cuts to extract money from customers. Banks are earning huge profit. It is become habitual to Indian corporate hat initially they give huge offer and free service, low cost to get customer but after that they changing the rate, services and policy. RBI and all finance regulators including the government have started working to ensure that the corporate make money at the cost of public expense. Banks are making profits by reducing no. of staffs in branch's due to ATMs. Will banks include failed transactions and out of paper transactions also in free transactions? Most of ATM run dry not only on weekdays / holidays. Its tough time for students & some people, who will withdraw small amount only as & when required, to prevent being pick-pocketed. ATM were introduced with the purpose of reducing the queues at the cash counter and all this was going on smoothly till the RBI recent circular which opened the door for banks to charge for transaction exceeding 5 per month.
SBI is lending Rs 6,ooo crore to Adani Mining
The biggest news in Indian Banking sector is here-
State Bank of India, the country's biggest lender, on Thursday said it will do "proper due diligence" before sanctioning the $1-billion (about Rs 6,000 crore) loan to Adani Mining, the Australian subsidiary of Adani Enterprises, for its mine project inQueensland. SBI chairman Arundhati Bhattacharya clarified that at present the bank has only entered into a memorandum of understanding (MoU) with the group. However, SBI finding difficulty to recover loan given to Mallya. People are amazed over loan of 65000 crore on 3000 crore turnover! How many lakhs of crore's Public Sector banks have squandered in this fashion! A true example of 'ameer aur ameer hote gaye, garib aur garib'. But such feelings are not good for business market. Business need investment, planing, lending, interest, involvement of mass, export and import.Achhe din aa gaye!
"It will go through proper due diligence both on the credit side as well as on the viability side. So, all of that will be done," Bhattacharya said. "The board will take a call and then only the loan will be sanctioned." She said that if the board approves the loan, SBI's net exposure would be to the tune of $200 million, as there will be some repayments also from the company. Adani had signed a MoU to line up a loan of up to $1 billion from SBI for the Carmichael mine in Queensland. Adani is getting prize money for helping PM Modi in last general election ? The project is expected to be completed by the end of 2017. The loan was announced when the group's headGautam Adani was in Brisbane with a business delegation accompanying Prime Minister Narendra Modi for the G20 summit. The state-run bank had run into severe criticism for entering into the agreement because several foreign lenders had refused to provide lending support to the group, citing environmental concerns. But Bhattacharya defended the bank's stance, saying they have checked with the Queensland government and "they have clearly said that there is no environmental issue and the threat to the Great Barrier Reef is much more from the star fish attack". Bhattacharya also defended the viability of the project. "Today, Abbot pointed coal comes at $42 fob (free-on-board), which is much below the international prices and the quality of coal is very good. It is non-polluting in nature," she said. The Congress party had on Thursday questioned SBI's decision to lend to the project and alleged that that the PM appeared taking keen interest in "promoting" Adani in getting the loan worth Rs 6,200 crore during the visit in which the SBI chairman was also present. "What was the propriety of the SBI giving the loan to Adani, who was sitting next to prime minister during the visit, at a time when some five foreign banks have denied credit to the group for the project?" partyGeneral Secretary Ajay Maken said. SBI had signed the pact on the sidelines of Modi's visit to Australia.
People still questions..
How was such a loan given to him?
Why not to me?
I would like to do business in Australia with 10 crore loan,
I have a turnover of 20 lacs annually and ratio isnt much different.
What if I fail,
the government will bail me out the same way it will bail him out?
SBI does not expect the RBI to cut rates on December 2 but feels the central bank could soften its stance by the end of the current fiscal."The fact of the matter is that all the parameters are indicating that there will be further fall in inflation. Between November and January, with the base effect, it might go up a little bit. But by March, it will be well below whatever the glide path that is indicated by the RBI," Bhattacharya said. In fact Australia itself have committed a much bigger money to develop linkage of this mine from the govt funds. Opposition is playing with the issue in general public, but investment is necessity for sustainable growth of market.
Tags:
SBI|Narendra Modi|General Secretary|Congress|Arundhati Bhattacharya|Ajay Maken|Adani Group cautious, giving, crore, Adani,Mining
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Kotak Mahindra Bank acquire ING Vysya Bank in an all
stock deal: Mega merger
Kotak Mahindra Bank was founded by broker-turned-billionaire banker Uday Kotak. Kotak Mahindra Bank is now in a better position to compete with bigger non-state rivals such as ICICI Bank and HDFC Bank. All ING Vysya branches and employees will become Kotak Mahindra Bank and employees" after the deal is completed, the banks said. The transaction is subject to the approval of shareholders, the Reserve Bank of India, the Competition Commission of India and other agencies. This move will strengths in corporate and retail banking. Industrialist Anand Mahindra and Deepak Parekh, chairman of HDFC is also happy with move. In fact government should also start consolidating public sector banks. The share exchange ratio is considered fair and reasonable given the underlying value of ING Vysya, as also giving shareholders the ability to benefit from the potential that can be realized upon merging into Kotak Mahindra Bank. This will increase Kotak Mahindra Bank's branches to 1,214 from 641 now. Kotak Mahindra Bank has a 68 per cent presence in the west and north while ING Vysya is strong in the south, especially Andhra Pradesh, Telangana and Karnataka. Kotak Mahindra Bank will gain 2 million customers from this merger. The merger would be done through a share swap in which 725 equity shares of Rs 5 each of Kotak Mahindra will be issued for every 1,000 shares of Rs 10 each held in ING Vysya Bank. Banking deal will create India's fourth largest private lender as Kotak Mahindra Bank. On November 21, 2014, Kotak Mahindra Bank closed at Rs 1199.65, up Rs 42.60, or 3.68 percent. The 52-week high of the share was Rs 1163.70 and the 52-week low was Rs 630.80. Kotak Mahindra Bank chief Uday Kotak has assured that there will not be "any dramatic" reduction immediately in the number of employees following the merger of ING Vysya Bank. While ING has around 10,000 employees, Kotak Bank has around 29,000. "We believe total number of employees will grow over time, but we don't see any dramatic reduction in the net number of people in a hurry," the Executive Vice-Chairman and Managing Director of Kotak Bank Uday Kotak. This is a merger for growth, not for cutting. ING Vysya Bank Deputy Chief Executive Uday Sareen said cost cutting was not the objective of the merger. But this is not one merger which talks about cost cutting and that is an extremely important point which we would like to communicate. Kotak said the merged KMB will not look at having a presence internationally.Rupee trades against dollar at 61.84
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I also want a loan from sbi
ReplyDeleteSC to hear discoms’ payment of dues matter on 16 December
ReplyDeleteJindal Steel shelves $10 billion project after coal setback. The project was specifically to meet the strategic needs of the country.
ReplyDeleteSensex,Nifty rise to new peaks on global stimulus,reform hopes in Winter Session of Parliament: http://www.dnaindia.com/money
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