If Gupta had given Raj Rajaratnam information that Goldman Sachs was going to get an investment from Warren Buffet (and suppose, if Rajaratnam had not sold an already long position in Goldman stock based on this material, non-public information), would this have amounted to a criminal offence on Gupta's part?
US Treasury Secretary Timothy Geithner has sought level playing field for American companies in China.
When President Barack Obama and Dr Manmohan Singh had announced the initiative, Geithner had said that 'India is an emerging global power and a country with which the US has an increasingly important economic and financial relationship.'
Neel Kashkari, who was nominated by President George W Bush to the post of Assistant Secretary of Treasury for International Affairs, has been confirmed by the Senate and has begun work in his new job, even if it is only for the next six months.
State Bank of India was the biggest loser in the Sensex pack, shedding 1.69 per cent, followed by Asian Paints, Kotak Mahindra Bank, HCL Technologies, Reliance Industries, Wipro, IndusInd Bank, Infosys, Power Grid and HDFC twins. In contrast, Nestle, Maruti, Bharti Airtel, Tata Motors, ITC and Hindustan Unilever were among the gainers.
United States President-elect Barack Obama on Monday officially unveiled the economic team that will assist him in tackling what he termed 'an economic crisis of historic proportions'.Obama has named New York Federal Reserve President Tim Geithner as US Treasury Secretary and former Treasury Secretary Larry Summers as chief of the National Economic Council.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Even as US President Barack Obama urged his countrymen to buy American cars, the United States Treasury Secretary on Monday insisted that the country is not in favour of protectionism and has a great interest in a growing open world economy.
India will have to show more willingness to import, and since Biden will not encourage sale of oil and gas to bridge the gap, it means there has to be more meaningful duty reduction in other areas even if Delhi baulks at a Free Trade Agreement so soon after walking out of RCEP.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
'The ceaseless process of privatisation is shrinking the space of reservation.' 'Where will reservation go if you keep privatising?'
The US treasury department informed about the sanctions following the October 7 attacks on Israel by Hamas.
Obama plans to write checks to Treasury on a monthly basis, effective March 1, but will cut the first check in April.
He said the new short-term treasury bills will be part of the government's same borrowing programme. To meet its burgeoning expenditure, necessitated by the slowing down economy, the government has pegged its market borrowing at over Rs 4.5 lakh crore (Rs 4.5 trillion) for the current fiscal, bulk of which is being raised in the first half.
The BJP leader said the Congress wants to divide the country on the basis of religion and region.
United States President Joe Biden and Chinese's wannabe supreme leader Xi Jinping met virtually a few hours ago.
Trump said the sanction will deny the Iranian Supreme leader access to financial instruments.
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
United States Secretary of State Hillary Clinton in concert with Treasury Secretary Timothy Geithner and Attorney General Eric Holder on Wednesday amended the foreign terrorist organisation designation of the Pakistan-based Lashkar-e-Tayiba in order to include one of the terror group's front organisation and a charitable arm of it as part of the FTO designation too.
The Lok Sabha was adjourned twice in the post-lunch period on Thursday as a war of words broke out between the treasury and opposition benches, triggered by Congress MP Charanjit Singh Channi's spat with the Bharatiya Janata Party's Ravneet Singh Bittu.
It is expected that FBI chief Wray will hold talks with senior Indian security officials.
What some of our leaders were up to on Friday, November 11.
If confirmed by the Senate, the 67-year-old career military officer would be the first African-American to lead the Department of Defence.
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.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
The $14.29 trillion borrowing limit underscores the need for Congress to put in place a fiscal straitjacket like the CAP Act.
Neel Kashkari, who was the Senior Advisor to US Treasury Secretary Henry M Paulson, was nominated by President Bush to the post of Assistant Secretary of Treasury for International Affairs and has been confirmed by the US Senate.
A group of influential Senators has asked the US Treasury Secretary Timothy Geithner to list China as a currency manipulator in his April 15 bi-annual exchange rate report to the Congress.
Notwithstanding the row over a blind Chinese dissident, China and the US have struck 67 agreements during their crucial economic dialogue covering a wide range of issues relating to trade and investment.
Vikram Pandit-led Citigroup has came under fire from the US President Barack Obama and his administration for purchasing a $50 million jet plane.
Chinese President Hu Jintao on Friday hailed the "positive results" of the latest round of Security and Economic Dialogue between China and the United States which was held under the shadow of a dissident seeking refuge in the American embassy in Beijing.Hu lauded the talks and appreciated the "excellent work" of the teams from the two countries when US Secretary of State Hillary Clinton and Treasury Secretary Timothey Geithner called on him.
The annual high-level strategic and economic dialogue between the United States and China began in Beijing on Thursday with Chinese President Hu Jintao calling for a "new type of relationship" between the two countries to break the traditional belief that big powers only have conflicts.
There are no easy answers to this crisis. But governments should consider whether they ought to become the insurer of last resort.
Union Finance Minister Pranab Mukherjee arrived in Washington, DC on Monday to participate in the India-US economic partnership dialogue, during which he is expected to meet US Secretary of State Hillary Clinton.
Twin objectives of promoting recovery in the global economy and to put in place a set of reforms in the international financial system to help prevent future crises of this type taking place are crucial for G20, said a top US Treasury official. G20 is a group of 20 leading and emerging economies of the world representing more than 85 per cent of the global economy.
By June end, Treasury Secretary Timothy Geithner is scheduled to land in India for economic and business talks with his Indian counterpart.
The US has decided to give top priority to its ties with India, which is reflected in an unprecedented series of high-level exchange of visits between the two countries this month aimed at taking forward their cooperation in areas like defence, trade and education.
The short-term recommendations include improvements to regulatory coordination and oversight that regulators can make quickly. The blueprint recommends creating a new federal commission for mortgage origination to protect consumers better. The report also recommends modernizing the President's Working Group on Financial Markets and clarifying the Federal Reserve's liquidity provisioning.
Three days after he was shot while delivering a speech in the western Japanese city of Nara, Abe Shinzo, Japan's longest serving prime minister, began his final journey in Tokyo.
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