A 21-year old Bangladeshi man, who came to the United States aiming to 'destroy America', has pleaded guilty to attempting to carry out a terrorist attack for the Al Qaeda at the Federal Reserve Bank here using a 1,000-pound bomb.
The Fed's interpretation of the increase in gas prices is the economist's basic mantra of supply and demand.
On November 10, the US Federal Reserve had approved the application of credit card major to become a bank holding company and the change in status facilitated American Express to explore various government funding and lending programmes. In return to the said loan, American Express will issue and sell preferred stock of about $3.39 billion and warrants to purchase shares of common stock for up to 15 per cent of that amount to the Treasury.
IMF has predicted a slowdown of world economic growth and approves of Fed Reserve's move of cutting its interest rate.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
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 Nifty ended at 5,060, down 94 points.
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
...helped by a Wall Street rally after the US Federal Reserve yesterday pledged to keep US interest rates low at least through mid-2013.
The 94-year-old economist was a senior research fellow at the Hoover Institution at Stanford University from 1977 to 2006.
Given below, in the table, are the estimated losses that some of the world's largest banks have suffered on account of home loan defaults in the US.
Unprecedented as it is, this steep cut in the interest rates effected by the Fed has the potential to dynamite the US dollar, the US economy and, by extension, the global economy.
A three-member delegation of the Indian Banks' Association met senior executives of the US Federal Reserve and New York Banking Department to explore the prospects for increased presence of Indian banks in the United States.
A total of 161.30 acres of land, plant, machinery and building of the Kannad Sahakari Sakhar Karkhana Limited (Kannad SSK) located in Kannad village of Aurangabad district has been provisionally attached under the Prevention of Money Laundering Act (PMLA), the ED said in a statement.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Forex dealers said apart from month-end demand for the American currency from importers, dollar's gains against other currencies overseas amid US data showing more-than-expected economic growth in the second quarter also put pressure on the local unit.
With US Fed increasing interest rates to 3%, equity money flows into emerging markets like India could be impacted in the medium term.
The Z+ security cover of Central Reserve Police Force (CRPF) personnel has been extended to Khan and Raj Bhavan, his office said in a post on 'X'.
United States is rich beyond dreams but at the same time swimming in debt, the latest figures released by the US Federal Reserve show.
First, there has been a significant softening in commodity prices - most notably oil.
In December, Aisha Shah was named as Partnerships Manager at the White House Office of Digital Strategy.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
A United States judge has reserved ruling on a lawsuit filed in New York by a Sikh rights group against the Congress party in the anti-Sikh riots after hearing arguments by it that the case should be dismissed since the incidents of 1984 are India's internal matters.
The Federal Reserve must now ensure that higher inflation doesn't derail the US recovery.
However, the national party count has gone down to six from 14 in over seven decades.
According to the Singapore Post, Kiribati a Micronesian country is discussing opening up its largest marine reserves to commercial fishing which may serve a dual purpose like a naval base for the Chinese as well.
He said the people are looking for an alternative and the Congress' victories in Himachal Pradesh and Karnataka elections are clear proof of this.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
Tourism is badly affected. Entire apple orchards have been washed away. 2 million people are threatened with loss of livelihood.
IS-Khorasan was sanctioned for its links with Al Qaeda and involvement in several deadly attacks in Afghanistan and Pakistan that killed over 150 people.
"I probably wouldn't do much," Buffett said when asked what he would do if he ran the Fed.
After a spirited eight-hour debate in which 60 members participated, the Lok Sabha passed the Constitution (128th Amendment) Bill, with 454 members voting in favour and two against it.
The bench posed questions to senior advocate Gopal Sankaranarayanan, appearing for one of the petitioners Soayib Qureshi, who has challenged the Centre's August 5, 2019 decision to abrogate the provision.
Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
Fed is still concerned about weak export growth.
The partially convertible rupee ended at 62.2825/2925 per dollar.
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