Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank - which specialised in lending to technology companies - was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008. According to experts, although the UK arm of SVB was small with only around 3,000 business customers, its collapse would have presented a risk for the tech sector which is seen as crucial to Britain's economic growth.
Rediff.com brings you a series of leaked Wiki cables, which point towards some startling revelations. Read on
Obama plans to write checks to Treasury on a monthly basis, effective March 1, but will cut the first check in April.
WazirX lost about 45 per cent of its crypto assets to the security breach. People privy to the discussions say North Korea has been mentioned.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
Union minister Nitin Gadkari has said the Maharashtra government's Ladki Bahin scheme, introduced to provide financial assistance to women, could affect the timely payment of subsidies in other sectors.
India purchased US Treasury securities worth $3 billion in July taking its total holdings to $39.4 billion, at a time when America, the world's largest economy, is grappling with slowing recovery.
Citigroup chief economist Lewis Alexander is leaving the troubled financial services entity to join the US Treasury department, says a media report.
The BJP accused Congress leaders of colluding with foreign forces to destabilize India and demanded Sonia Gandhi to disclose her role in a George Soros Foundation-funded organization's activities. The ruling party also attacked Rahul Gandhi, calling him a "pawn" for his protests against the Adani issue.
The order gives the state and treasury departments authority to consider and impose sanctions on individuals, entities or associates of the Turkish government involved in actions that endanger civilians or lead to the further deterioration of peace, security and stability in northeast Syria.
US Treasury Secretary Timothy Geithner has left for New Delhi to launch the Indo-US Economic and Financial Partnership which according to him would set the pace and put and economic relationship between the two countries on a new trajectory.
On Friday, Putin formally announced the annexation of four regions -- Donetsk, Luhansk, Kherson and Zaporizhia -- and claimed that "this is the will of millions of people".
Foreign residents increased their holdings of long-term US securities in May; net purchases were $34.6 billion.
Two former legislators -- R K Rana and Dhruv Bhagat -- were sentenced to five years imprisonment Monday in a fodder scam case by a special Central Bureau of Investigation court in Ranchi.
In a Twitter post last Friday, the 39-year-old son-in-law of Infosys co-founder Narayana Murthy is seen holding a bag of Yorkshire Tea along with the message: 'Quick Budget prep break making tea for the team. Nothing like a good Yorkshire brew.' It attracted a host of trolls and negative reactions, largely directed against the ruling Conservative Party but also targeted at Yorkshire Tea -- one of the UK's oldest tea brands.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
In June 2013, the same stood at $ 61.2 billion. In April, the holding stood at $ 68.7 billion.
China, the biggest foreign holder of US debt has trimmed its portfolio to $1.15 trillion to diversify its foreign reserve portfolio to avoid risks.
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The strange allegation by UAE officials is noted in a State Department cable, which reports the details of a meeting between officials of the US Treasury Department and those of UAE's State Security Department (SSD) and Dubai's General Department of State Security to discuss suspected Taliban-related financial activity in the UAE.
Vikram Pandit-led Citigroup has came under fire from the US President Barack Obama and his administration for purchasing a $50 million jet plane.
According to the US treasury department, India has slashed its holdings to $31.6 billion in February, while it was at $32.7 billion in January.
The United States on Wednesday slapped sanctions on an Afghan drug trafficking network and designated two leaders -- Shah Mohammad Barakzai and Haji Baz Mohammad -- as Specially Designated Narcotics Traffickers.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
Union Education Minister Dharmendra Pradhan on Wednesday said the Preamble to the Constitution is very well there in NCERT textbooks of Class VI as he refuted charges made in this regard by Congress president Mallikarjun Kharge.
Utilising a new executive order signed by President Donald Trump, issued on the eve of the 9/11 anniversary, the treasury department sanctioned over two dozen individuals and entities from 11 terrorist groups, including Pakistan-based Tehrik-e-Taliban Pakistan.
To govern effectively, to legislate successfully, Modi must reach out to the Opposition. As long as he does not and he is showing no signs that he accepts the reality, the drift his fans are anguishing over will remain, cautions Aakar Patel.
The measures announced by the Treasury Department were also aimed at 17 senior Russian government officials. The state-owned Russian weapons trading company, Rosoboronexport, which has long-standing ties to Syria and its subsidiary, Russian Financial Corporation Bank were also targeted under new sanctions.
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
US President Barack Obama has proposed to establish a new minimum tax on foreign earnings while repealing benefits for outsourcing jobs overseas and providing new incentives for bringing jobs back home.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Pakistan on Friday freed Saeed, the Lashkar-e-Tayiba founder, who immediately launched his anti-India rhetoric and vowed to mobilise people for the "cause of Kashmir".
The US, in coordination with allies and partners, continued to forcefully respond to Russia's "unjustified, unprovoked and premeditated" invasion of Ukraine by imposing sanctions on Putin and Lavrov.
Due to India's limited dependence on external demand and strong fiscal and monetary stimulus measures, the global economic and financial crisis had a relatively muted effect on the country, the Obama Administration told the US Congress on Thursday.
India has also taken note of reports of Saeed's son Talha contesting elections in Pakistan and said the "mainstreaming" of radical terror outfits in the neighbouring country is nothing new and that it has been part of its State policy for a long time.
The United States government appointed pay czar will review the executive compensation packages at 419 bailed out companies including Goldman Sachs and JP Morgan Chase.
Days ahead of the second US- China Strategic and Economic Dialogue, the United States has reiterated that China needs to move towards a market-oriented exchange rate.
The move has apparently been taken in view of the drug peddler's attempts to enter the US for setting up business. \n\n
