Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
United States President Barack Obama appointed Denis R McDonough, one of his top foreign policy advisors and longtime trusted aide as his next Chief of Staff.
The meeting, on the sidelines of the Annual Spring session of the International Monetary Fund and World Bank, will happen within a couple days of about a dozen US industry associations writing to the US Treasury Secretary to take up the controversial move by India to amend the Income Tax Act with retrospective effect.
The weather in Washington is balmy, but Finance Minister Pranab Mukherjee, in the US to attend a meeting of the International Monetary Fund and the World Bank, would feel a distinct chill as he readies to meet corporate America.
Union Finance Minister Nirmala Sitharaman, BJP national general Secretary Dushyant Kumar Gautam, BJP state unit president B Y Vijayendra, and former chief ministers B S Yediyurappa and Basavaraj Bommai were among those present at the legislature party meeting, where R Ashoka was picked as its leader.
Complimenting India on maintaining market linked exchange rate, US Treasury Secretary Timothy Geithner on Monday asked other key economies to move toward flexible exchange rate regime.
Not that his odds are particularly strong at 66/1 -but they're the same as Bill Clinton's! For what it's worth former Brazilian President Lula Da Silva has slightly stronger odds at 20/1.
Observing that India and the US are at the threshold of unlocking the great potential of their bilateral economic relationship, Treasury Secretary Timothy Geithner on Monday urged New Delhi to accelerate next generation reform to spur the growth of the Indian economy.
Among Sensex stocks, Maruti rose the most, followed by Tech Mahindra, Mahindra & Mahindra and Asian Paints. Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
As the United States combats a slowdown and Europe confronts a period of slower growth, economies on the Pacific Rim will need to do more to stimulate demand at home, US Treasury Secretary Timothy Geithner said on Thursday.
The US, he said, is working in the G-20 to help build consensus on long-term reforms that will provide the foundation for a more balanced, more stable global economy.
The visiting US treasury secretary Timothy F Geithner today said Washington will closely work with New Delhi to promote a more balanced and greater economic cooperation between the two nations.
The launch of the US-India Economic and Financial Partnership on Tuesday is significant because the two countries have traditionally been wary of opening up their markets and services to each other.
India over the years has emerged as a role model for balanced economic growth for countries across the world, US Treasury Secretary Timothy Geithner said on Tuesday.
US Treasury Secretary Tim Geithner and Finance Minister Pranab Mukherjee announced the establishment of a new US-India Economic and Financial Partnership to strengthen bilateral engagement and understanding on macroeconomic, financial sector and infrastructure-related issues.
Finance Minister Pranab Mukherjee is leading a high-powered team of policymakers, including Commerce Minister Anand Sharma and Planning Commission Deputy Chairman Montek Singh Ahluwalia at the India-US CEOs Forum.
He also called for tough and effective reforms so that when such mistakes happen, they are modest in size and the financial system can handle them well.
US Treasury Secretary Timothy Geithner on Wednesday identified India, China and Brazil as countries that will experience rapid growth in the coming decades, which he said would provide "consistent strength" to the American economy.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
The growth of these countries in one way or the other would boost up American economy, he told reporters at a White House news conference.
India on Tuesday asked US investors to participate in its $600-billion infrastructure programme in the next five years, even as America sought greater financial cooperation for bringing about global economic stability.
He should not publicly press India to open its financial sector.
Tim Geithner, President Barack Obama's choice for Treasury secretary, on Thursday accused China of "manipulating" its currency and pledged "aggressive" diplomatic action to drive Beijing into action.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
A day after the US dragged China to the World Trade Organisation, Treasury Secretary Timothy Geithner is slated to brief two key congressional committees later on Thursday on how the Obama administration plans to make Beijing provide a more-level playing field to American firms.
China is not manipulating its currency, but the yuan remains undervalued, the Obama administration told the US Congress in a report.
Treasury Secretary Timothy Geithner on Thursday ruled out any possibility of US facing a Greece-like debt crisis and said that better-than-expected economy would help strengthen government accounts.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
The US economy, which is hit by one of the worst crisis after the Great Depression, is coming back stronger and faster than predicted, the US Treasury Secretary, Timothy Geithner, has said.
So, Tim Geithner, the US Treasury secretary, is fighting chronic uncertainty with transparency. The results of the "stress tests", an exercise to identify undercapitalised banks so the government can make sure they have enough capital to recover, will be announced on Thursday.
Barack Obama warned Americans on Monday that economic crisis could turn into catastrophe if the federal government does not take decisive action to create jobs and stabilise the financial sector.
Geithner said during their discussions this week, in Singapore and China, US President Barack Obama emphasised that the US and China must be at the centre of efforts to put the global economy on a more sustainable and balanced growth path.
The last minute decision of the Congress to withdraw Rahul Gandhi's name as the lead speaker on the no-confidence motion in the Lok Sabha led to heated exchanges between the opposition and treasury benches on Tuesday.
US Treasury Secretary Timothy Geithner has said that he is in favour of expansion of H-1B visa programme, offered to highly skilled professionals and students to live and work in the country.
Announcing Bolton's sacking on twitter, Trump said he will name a new national security advisor next week.
The US, which witnessed one of the worst economic crisis in recent times, is coming out of recession faster and stronger than many countries of the world, a top Obama Administration official has said.
Reforms are key to India sustaining the pre-economic crisis growth rate of 9 per cent, United States Treasury Secretary Timothy Geithner said in New Delhi on Monday.
With various financial sector bills pending in Parliament, the US today said India should further liberalise this area to sustain 8-9 per cent growth it was recording before being impacted by global economic crisis.
The US expects India to play a greater role along with China and other major economies in tackling the current financial crisis and supports bigger responsibilities for it in the international financial institutions, Treasury Secretary Timothy Geithner has said.
Obama administration wants to force a wide range of large financial institutions to hold more capital as part of a sweeping regulatory overhaul
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