Black money, the moniker for income that is shipped overseas in order to evade taxes, is something India is moving to make a thing of the past.» Read More
BANGKOK-- The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand's SET index is up a whopping 33 percent.
NEW DELHI-- India and Australia agreed Wednesday to begin negotiations on civil nuclear energy cooperation that would eventually allow the export of Australian uranium to the energy-starved South Asian nation.
NEW DELHI-- The first woman to lead a Formula One team has another reason to look forward to the Indian Grand Prix next week _ it's in her home country. The 41- year-old Monisha Kaltenborn was promoted from Sauber's chief executive to its team principal last week. Her main focus is ensuring the Switzerland- based team improves on its four podium finishes this season.
Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. The move shocked Wall Street, and Citigroup offered no explanation.
PROFIT POPS: The Coca-Cola Co. says its profit rose 4 percent in the third quarter, although revenue came in shy of Wall Street expectations. FOREX FALLS FLAT: The company's revenue rose 1 percent for the period as it was hit by unfavorable currency exchange rates.
CAREER: Pandit joined Morgan Stanley as an associate in 1983. Seven years later, he was named head of Morgan Stanley's U.S. stock business. In 2005 he left Morgan Stanley and a year later helped found a hedge fund, Old Lane. Citigroup bought the fund in April 2007 and fast-tracked him to replace Charles Prince as CEO in December of that year.
NEW YORK-- The Coca-Cola Co. has a formula for growth in the volatile economic climate: sell more of its drinks in emerging markets and evolve its stable of products at home, where concerns over sugary drinks are intensifying.
LONDON-- Judges are choosing the winner of Britain's most prestigious literary trophy from a shortlist that includes novels set in the court of King Henry VIII and the opium dens of Mumbai. Mantel would be the first British author to win the Booker twice, joining double winners Peter Carey of Australia and J.M. Coetzee of South Africa.
NEW DELHI-- Delegates from nearly 200 countries were working Tuesday to implement an agreement on protecting Earth's ecosystems at a biodiversity conference in southern India.
Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. A second top executive resigned as part of the shake-up: President and Chief Operating Officer John Havens, who also served as CEO of Citi's Institutional Client Group.
NEW YORK-- The Coca-Cola Co. says its net income rose 4 percent in the third quarter, as the world's biggest beverage maker expanded in in emerging markets and relied more heavily on sports drinks and teas for growth at home. In India, by contrast, sales volume for the Coca-Cola brand rose by 34 percent and overall sales volume rose 15 percent in the country.
FUEL-FIRED: India's inflation rate accelerated to 7.8 percent in September after the government hiked subsidized fuel prices to rein in the budget deficit. RATE AND A HARD PLACE: The number is worse than expected and gives the central bank little room to cut its key interest rate to counter slowing economic growth when it meets later this month.
DEFLATING EARNINGS: India's Reliance Industries reported a 5.7 percent slide in September quarter profits from a year ago, as the company scales back investment in India's largest oil and gas fields.
MUMBAI, India-- India's Reliance Industries on Monday reported a 5.7 percent slide in September quarter profits from a year ago, as the company scales back investment in India's largest oil and gas fields.
_ 2010: Americans Peter Diamond and Dale Mortensen and Christopher Pissarides, of Britain and Cyprus, for their analysis of markets with search frictions. _ 2005: Robert J. Aumann, of Israel and the United States, and American Thomas C. Schelling, for their work in game-theory analysis.
BANGKOK-- European stocks rose and some Asian markets staged a comeback Monday as investors looked ahead to the release of U.S. earnings reports and Softbank's $20 billion deal for Sprint showed optimism amid economic turbulence.
MUMBAI, India-- India's inflation accelerated to 7.8 percent in September after the government hiked subsidized fuel prices to rein in the budget deficit. "Core inflation has remained sticky," said Sonal Varma, economist at Nomura Financial Advisory and Securities in Mumbai. "
Pablo Goldberg, global head of emerging markets research at HSBC, shares his views on how India will provide growth opportunities for emerging markets over the next twelve months and whether QE3 will provide a boost.
WASHINGTON-- Asia's top powers have doubled defense spending in the past decade, spurred by the explosion in military expenditure by China, new research shows. The research covers China, Japan, India, South Korea and Taiwan, which account for some 87 percent of Asia's defense spending.
Chanda Kochhar, CEO, ICICI Bank says that New Delhi's recent policy measures will see the return of Indian growth as it will resume investment and consumer demand.