If rising prices of food and fuel are hurting the common man, the richie-rich club has its own inflation-related worries -- that is in prices of Chanel bags and Rolex watches, among other high-end lifestyle products.
Finance Minister Pranab Mukherjee will announce the measures the United Progressive Alliance government intends to take to bring back the unaccounted money into the country and tighten the regulatory and tax framework to prevent further illegal outflows.
It follows a similar deal agreed earlier this month between Germany and the Swiss authorities.
Mukherjee and Swiss Foreign Minister Micheline Calmy-Rey signed the revised pact in New Delhi on Monday.
India and Switzerland on Monday signed the revised Double Taxation Avoidance Agreement, a move that will help the government seek details about illicit wealth allegedly stashed away by Indians in Swiss banks.
Credit Suisse has seen more than 50 per cent fall in quarterly profit.
Authorities had written letters to Swiss Attorney General and other officials to reopen the corruption cases that were closed under a controversial graft amnesty issued by ex-military ruler Pervez Musharraf, National Accountability Bureau Chairman Naveed Ahsan's lawyer Abid Zubairi informed a seven-member bench headed by Chief Justice Iftikhar Chaudhry.
The need to raise policy rates one more time still exists.
Veteran political leader Subramanian Swamy on Saturday expressed surprise over Bharatiya Janata Party leader L K Advani's decision to apologise to Congress president Sonia Gandhi over the black money issue
Arthur J Pais meets Scottish businesswoman Sunita Poddar who gifted an island to yoga guru Baba Ramdev.
Amid a raging controversy over black money allegedly stashed by stud farm owner Hasan Ali in Swiss banks, Switzerland has said it is awaiting a "complete" request from India for help in this case since 2007.
Innocent anchors in the media, especially electronic, are guilty of raising expectations of a gullible nation without realizing how these accounts operate.
The government of India took note about the money kept by the Indian tax eva-ders in Swiss Banks, which is estimated at around $462 billion.
What did LK Advani tell Sonia Gandhi in his letter that has the BJP so worked up?
India may have to wait till at least next year for information from Switzerland on possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011.
The violations relate to transactions Credit Suisse illegally conducted on behalf of customers from Iran, Sudan, Myanmar and other countries, violating the International Emergency Economic Powers Act and New York state law.
India has been probing hundreds of black money cases.
Bowing to pressure from the Supreme Court, the Pakistan government on Wednesday said it has asked Switzerland to reopen graft cases against Asif Ali Zardari over alleged stashing of $60 million in Swiss banks.
The negotiations are expected to take place in the wake of the issue of black money stashed away in Swiss banks.
The Transforming Finance initiative seeks to address these problems by including all stakeholders in a process of democratizing finance through a deep re-structuring of its mechanisms.
Indian stocks are becoming "less interesting" as their valuation vis--vis other markets in the Asian region have declined considerably, Swiss banking major Credit Suisse said in a report.
The predictions by the world's biggest wealth manager were based on a statistical model using the results from the previous five tournaments and controlling for factors such as team strength and success in the qualification phase.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
With the Swiss government's refusal to share information about Indians holding accounts in its banks, BJP president Rajnath Singh on Monday said India should mount diplomatic pressure on that country to get the details.
Swiss banking major Credit Suisse on Thursday said its chief executive Brady W Dougan received a whopping compensation of 19.2 million swiss francs ($17.9 million) last year, nearly seven times higher than his pay package in 2008.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
The government should publish a White Paper Indian wealth stashed abroad: Advani.
One is really left wondering how India can ever claim to fare better than the United States and the United Kingdom in this space.
The latest turn to the case comes just days after Switzerland made it clear that its law does not allow UBS to disclose client information. The US government had filed a suit against UBS demanding the banking major part with details of about 52,000 American clients, as it felt the Swiss bank was helping American citizens in tax evasion.
In a fresh turn to the UBS' legal battle with the US tax authorities, the Swiss government has said that the country's law prohibits the bank from disclosing details about the account holders.
'The BJP is saying we have Modi, who have you got?' 'We have the people of India on our side.'
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
Swiss banking professionals under the agies of the Swiss Bankers Association met the Reserve Bank of India officials on Wednesday to discuss areas of cooperation. They also apprised the Indian banking regulator about the steps that Swiss authorities had initiated to implement stringent anti-money laundering laws.
For the three months ended March 31, 2009, the company has losses to the tune of two billion Swiss francs whereas in the year-ago period, the same stood at 11.62 billion Swiss francs, the entity said in a statement on Tuesday.
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
Indians might be known for their hard work, but when it comes to their wages, they are paid nearly 20 times less than their counterparts in the developed nations like the United States and Switzerland.
A German court convicted Uli Hoeness of tax evasion on Thursday and sentenced the soccer manager who turned Bayern Munich into one of the world's most successful clubs to three-and-a-half years in jail.
Rahul said the poor, the labourers and the middle class are being sacrificed in the demonetisation 'yajna' for the benefit of the "super-rich families" of the nation.
In the past, several other Indian nationals have been named in such notifications after the Swiss FTA was approached by Indian authorities for information about those people with regard to the pending tax-related probes against them.
Swiss banking major UBS on Wednesday said it will slash its headcount by 8,700 employees globally and expects losses to the tune of two billion Swiss francs (about $1.75 billion) in the first quarter this year.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances