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  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent, a widely expected move as the world's second largest economy continues to show signs of weakness despite previous easing measures. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends...

  • MUMBAI, Feb 28- India on Saturday proposed to merge its commodity market regulator with the capital market watchdog, aiming to strengthen regulation in a move which could help open the commodity futures market to institutional investors. Responding to the measure, shares of Multi Commodity Exchange of India Ltd, India's biggest commodity exchange and its...

  • NEW DELHI, Feb 28- India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. Illegal deposits abroad cost India billions of dollars in lost revenue and Prime Minister Narendra Modi's...

  • SANAA, Yemen— A suspected U.S. drone strike Saturday in central Yemen killed three men believed to be al-Qaida militants, security officials said. The U.S. has launched several strikes in recent weeks, reflecting Washington's resolve to keep fighting the militants despite Yemen's political paralysis. Meanwhile Saturday, the Shiite rebels who control Yemen's...

  • China's central bank cuts rates again to boost economy Saturday, 28 Feb 2015 | 5:46 AM ET

    BEIJING— China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank of China announced a rate cut on one-year loans by commercial banks by 0.25 percentage point to 5.35 percent. Last year, China's economic growth fell to...

  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent. The People's Bank of China said it would further liberalise interest rates and lift the ceiling for the floating range for the saving rate to 1.3 times the benchmark rate. The central bank said it would cut the benchmark saving rate by 25...

  • Greece seeks negotiations on ECB bond repayment Saturday, 28 Feb 2015 | 5:15 AM ET

    ATHENS, Feb 28- Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to international creditors. Finance Minister Yanis Varoufakis said Athens should negotiate with the ECB on 6.7 billion euros in Greek government bonds held by...

  • MUMBAI/ NEW DELHI, Feb 28- India will introduce gold deposit accounts to utilise the 20,000 tonnes available within the country and launch a sovereign gold bond, the finance minister said on Saturday, but kept the import duty at the record 10 percent in a setback for jewellers. "Though stocks of gold in India are estimated to be over 20,000 tonnes, mostly this gold is...

  • MOSCOW, Feb 28- Russia's Investigative Committee is pursuing several lines on inquiry following the murder of opposition politician Boris Nemtsov, including the possibility it was an attempt to destabilise the political situation, Interfax news agency said.

  • *Hikes road and rail investment by $11 bln. NEW DELHI, Feb 28- Indian Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide...

  • NEW DELHI, Feb 28- India announced on Saturday a modest 7.9 percent increase in defence spending for the fiscal year starting April 1, suggesting that it will move only gradually with the military's long wish list for fighter jets, ships and artillery. After years of neglect, India is trying to narrow the military gap with China, which has been building up its fleet...

  • NEW DELHI— India's finance minister announced the government's new budget on Saturday, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development, while vowing to keep a tight control on the fiscal deficit. "The credibility of India's economy has been re-established," Jaitley told...

  • WASHINGTON— It's not uncommon to feel some trepidation around tax-filing season. But there's an added hassle this year for nearly a million consumers who got financial help with health insurance premiums under President Barack Obama's law. "It's been a comedy of errors from the start," said K.C. Crafts, a freelance financial writer from South Berwick, Maine.

  • NEW DELHI, Feb 28- India will introduce gold deposit accounts to utilize the 20,000 tonnes available within the country and launch a sovereign bond as an alternative to buying the metal, moves that are likely to cut imports into the biggest gold consumer. India ships in 800-1,000 tonnes of gold a year despite massive stocks in the country that is neither traded...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "India is about to take off," Jaitley, 62, said early in his speech to lawmakers. "The world is predicting that this is India's...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "The world is predicting that this is India's chance to fly." Reaping the benefits of low global prices for oil, India's main...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley announced a budget for growth on Saturday, saying the economy was ready to "fly", that the government would boost investment and ordinary people should benefit. "India is about to take off," Jaitley, 62, told lawmakers after rising to deliver his first full-year budget since Prime Minister Narendra Modi's...

  • China jails ex-vice governor 17 years on graft charges Friday, 27 Feb 2015 | 10:27 PM ET

    BEIJING— A former Chinese vice governor known for his appetite for jade and arts was sentenced to 17 years in prison on corruption charges on Saturday, a Chinese court said. Ni Fake, former vice governor of the eastern province of Anhui, was found guilty of taking more than $2 million in bribes, the Municipal Intermediate People's Court for the eastern city of...

  • House Roll Call: Approving 1-week DHS funding bill Friday, 27 Feb 2015 | 10:25 PM ET

    The 357-60 roll call Friday by which the House approved a bill to fund the Homeland Security Department for one week. The bill goes to President Barack Obama for his signature. Republicans— Aderholt, X; Brooks, N; Byrne, Y; Palmer, N; Roby, Y; Rogers, Y.

  • Ted Cruz of Texas told an influential anti-tax group Friday that he opposes Common Core education standards, a day after potential GOP presidential rival Jeb Bush endorsed the program. Cruz described Common Core as "national standards being dictated from Washington" during an appearance at the Club for Growth's annual winter meeting. Cruz and Bush are among...