BRICS has no plans to form a military and political alliance, Russian President Vladimir Putin said on Wednesday, in an apparent effort to allay apprehensions of the West.
International Monetary Fund and World Bank are top global financial institutions.
Even as the chorus against black money and corruption is getting louder in India, hacktivism, a coinage created of activism and hacking, is creating mayhem in the virtual world.
Rediff.com spoke to Raghuram Rajan about his book, what enthuses him about the Indian economy, and what are the concerns he has with India's chaotic progress . . .
The US' influence on a European CEO-headed multilateral institution is out of sync.
While maintaining that merit and not nationality should guide selection of the new International Monetary Fund chief, India will in all likelihood support French Finance Minister Christine Lagarde for the job.
The country secured a euro 7.16 billion bridge financing from the European Financial Stability Mechanism
Prime Minister Manmohan Singh on Tuesday said India supports the "best" available candidate, regardless of nationality, as the next International Monetary Fund (IMF) chief.
Massive default, together with a very large sustained cut in the annual budget deficit, is, in fact, needed to restore Greek's fiscal sustainability.
"Tests matched a DNA sample submitted by Strauss-Kahn and semen found on the shirt of the hotel maid," the Wall Street Journal reported quoting law-enforcement officials.
Battling damaging allegations of sexual assault, Strauss-Kahn tendered his resignation from the top post of the IMF on Wednesday, while maintaining that he was innocent.
It was during his stay at this Sofitel hotel that Kahn, who was appointed IMF managing director in 2007 with a salary in excess of $5,00,000 per year, was accused of indulging in sexual assault on a chambermaid.
The executive board of the International Monetary Fund held an informal meeting at its headquarters in Washington on Sunday to discuss the fallout of the arrest of its managing director, Dominique Strauss-Kahn, on rape charges in New York.
The report titled 'what really happened to Strauss-Kahn?' published in the New York Review of Books states that Strauss-Kahn's Blackberry, which the IMF chief referred to as his 'IMF BlackBerry' had been 'hacked' and later went missing.
The Sri Lankan government has appointed an advisory committee comprising eminent economic and fiscal experts to provide guidance on addressing the current debt crisis and engaging with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.
Gold reserves remained unchanged at $20.691 billion.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
"Global rebalancing will require deficit economies to save more and consume less, while depending more on external demand relative to domestic demand for sustaining growth. Surplus economies will need to mirror these efforts - save less and spend more, and shift from external to domestic demand," Subbarao said during his intervention in the ongoing Spring meeting of the IMF in Washington.
The multilateral body has also asked the policymakers to take action to reduce risks arising from increased scarcity of oil resources.
Gold struck another historic peak of Rs 18,000 per ten gram in the national capital today on sustained buying by stockists for the current marriage season amid a weakening dollar and reports that more central banks might purchase gold from the International Monetary Fund.
The Cabinet's approval to increase India's quota in the International Monetary Fund follows Fourteenth General Review of Quotas of the agency.
Eurozone's financial contingency plan is trying to solve the problem of excessive debt with even more debt.
China on Monday said Sri Lanka has allowed its satellite and missile tracking ship to berth at the Hambantota port on Tuesday, but declined to reveal details of talks with Colombo leading to the bankrupt island's government reversing its earlier stand to defer the high-tech vessel's entry.
In a statement issued after its Article IV Consultation with India, the IMF said that Reserve Bank of India should be ready to increase rates to check any further rise in inflation.
A continued focus on low inflation will be important to keeping gold imports, IMF said.
While emerging economies present the best chances for economic growth, not all countries will prosper at the same rate.
The ship will now arrive on August 16 and remain at the Hambantota port till August 22, they said.
Pakistan has been on the grey list of the Paris-based Financial Action Task Force since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
The four-day tour, beginning September 21, includes World Bank-International Monetary Fund meetings, as well as interactions with investors.
Kaushik Basu, the C Marks Professor of International Studies, professor of economics, and director of the Center for Analytic Economics at Cornell, has been asked informally if he would consider becoming Chief Economic Advisor (CEA), a post that will fall vacant after Arvind Virmani ends his tenure and leaves to join the International Monetary Fund at the end of the month.
India's exports in April jumped nearly three-fold to USD 30.63 billion from USD 10.36 billion in the same month last year, according to government data released on Friday.
The announcement has been enabled by the IMF's recent announcement of a framework for issuance of notes to the official sector. These notes will allow investments in the IMF to be treated as international reserves. Therefore, RBI will be able to invest a portion of its foreign reserves in the IMF.
A judge had earlier dismissed all charges against Strauss-Kahn, who was accused of forcing the maid into a sex act at a luxury Manhattan hotel, but her lawyers had filed an appeal to a higher court seeking a special prosecutor, the report added.
Pakistan has appointed Saleem Raza, a former international banker, as central bank governor.
In-car connectivity demands and technology for interaction open various possibilities.
The International Monetary Fund on Wednesday warned that there are significant risks of the crisis recurring, as long as global banking system remains strained.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
Some emerging nations like India and China, however, are also facing the challenges of huge capital inflows and overheating.
If India can fast utilise currency flows for long-term projects, the regulatory regime could be more liberal.
India's reliance on domestic factors for growth and its comfortable foreign exchange reserves would help the nation to insulate itself from the Euro-zone debt crisis, financial services firm, ING said.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances