India, China and other countries from the emerging markets are likely to grow at a high rate for sustained period of time as they have a long way to go to bring their people from agriculture into industry, US Treasury Secretary Timothy Geithner told US lawmakers.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
India and the United States vowed on Thursday to step up joint efforts to halt illicit money flows.
Former US Treasury Secretary Robert E Rubin has been appointed as the chairman of the Citigroup after the resignation of its embattled CEO Charles Prince, prompted by major write-offs by the world's biggest bank following turmoil in subprime loan and credit markets. Vikram S. Pandit, an Indian, who took over Citigroup's investment banking operation in early October, just six months after joining the bank, is one contender for the top post.
The bankruptcy filing of Lehman Brothers on September 15, 2008 brings back the most vivid memories of the crisis.
Mukherjee is in Washington, DC to co-chair the US-India CEO's Forum with US Treasury Secretary Timothy Geithner.
Enumerating a few steps that India could take to become even more competitive, US Treasury Secretary Henry M Paulson Jr said it could reduce needs for financial institutions to hold substantial amount of deposits in government debts which limits the scope of banks for taking greater exposure to certain priority sector.
US Treasury Secretary Timothy Geithner has said he would not rule out the option of forcing out chief executives of banks which have received taxpayers' money but are not performing well.
Timothy Geithner, chosen for the post of Treasury Secretary by President-elect Barack Obama failed to pay federal taxes worth over 34,000 dollars for several years, a media report says.
"If the Doha Round does not materialise that would not be on account of the US agricultural subsidies ... major emerging economies (India and Brazil) are not coming up with enough market access, especially in non-agricultural areas such as services including financial services," US Treasury Secretary Henry Paulson, who will be visiting India shortly said.
After averaging at 8.8 per cent growth over the past four years, India's growth rate in 2009-10 is expected to slow down to 5.5 per cent mainly due to lower investment and declining external demand, the US Treasury Secretary Timothy Geithner has said.
On Saturday, North Korea's nuclear envoy Kim Kye-gwan said Pyongyang would not shut down its main nuclear reactor until all of the frozen funds were released.
He is among several leaders of Indian heritage who have ascended to the highest echelon of public service globally.
Making a case for a robust rupee, the US on Tuesday said currency value should reflect the economic fundamentals - which has been good in the case of India - although a stronger dollar was in Washington's interest.
India must continue with its economic reform agenda or risk lose the credibility it has acquired in the world over the years, a top US administration official has said.
Sarojini Naidu, Mother Teresa or Savitribai Phule?
It's high time the government accounts everything on an accrual basis rather than cash basis
The steps taken by the G-20 have helped the recovery of the global economy, said US Treasury Secretary Timothy Geithner.
US treasury secretary John Snow learned more than one month ago of the tentative plan and Chinese officials gave him details on the change and its timing before the announcement, The Financial Times and The Asian Wall Street Journal said.
United States Deputy National Security Advisor Daleep Singh is the White House's anchorperson for economic sanctions against Russia.
Several opposition MPs on Wednesday demanded an explanation from Home Minister Amit Shah after two visitors jumped into the Lok Sabha chamber from the visitors' gallery and opened canisters that emitted coloured smoke, triggering panic among the members.
The Trump administration is confronting and countering malign Russian cyber activity, including their attempted interference in the US election, destructive cyber-attacks, and intrusions targeting critical infrastructure, said Treasury Secretary Steven T Mnuchin.
Terming India's move to increase foreign direct investment cap in insurance sector to 49 per cent from the current 26 per cent as step in the right direction
'No one in this administration, not the President nor anyone on the national security team, would suggest that the Taliban are respected and valued members of the global community'
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 Congress on Wednesday came out in defence of Rahul Gandhi saying he never disrespects women and the Bharatiya Janata Party is indulging in an 'indecent' act of accusing him of 'misconduct' as it does not want a debate on Manipur violence.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
'It will send a very strong signal that it is now our time to grow.'
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
The Congress leader's remarks had drawn a sharp response from the treasury benches, with Law Minister Kiren Rijiju asking him not to level "wild allegations" and to furnish proof of his claims.
Referring to how unified Washington Allies have been in isolating President Putin, Biden stated, "...The Quad is, with the possible exception of India being somewhat shaky on some of this, but Japan has been extremely strong -- so has Australia -- in terms of dealing with Putin's aggression."
Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new milestone in bilateral economic and energy partnership.
Prime Minister Liz Truss has unveiled one of the United Kingdom's most diverse cabinets, with key frontline posts going to ethnic minority members of Parliament, including Indian-origin Suella Braverman as the home secretary.
The unusual timing of the session has left everyone wondering, even though the main standout feature on the listed agenda is a special discussion on Parliament's journey of 75 years starting from the "Samvidhan Sabha" (Constituent Assembly).
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