Russian ex-minister accuses Putin lieutenant of framing him [0.09]

Posted on Aug. 16, 2017, 11:53 a.m. by Finance @ [source]

Former Russian Economy Minister Alexei Ulyukayev told his bribery trial on Wednesday that he had been framed by a close lieutenant of President Vladimir Putin into accepting a payment of $2 million.

The case is politically charged because Sechin represents a powerful faction in the Kremlin who favour greater state control over the economy.

accepting bribe economy minister President Putin Sechin trial Ulyukayev Wednesday


Food Minister on Saturday said the has no immediate plans to further hike from the existing 10 per cent.

On March 28, an of 10 per cent was imposed on to curb in view of record domestic output at around 97.44 million tonnes in 2016-17 crop year (July-June).

cent crop duty existing food hike minister plans Saturday tonnes


The government on Friday said speedy steps are being taken against shell companies , but a balance needed to be maintained between ease of doing business and ensuring that wrongdoing is stamped out. Finance minister Arun Jaitley told the Lok Sabha that there is no definition for shell companies under the Companies Act but such entities are used for roundtripping of money.The real owners behind such entities need to be identified and steps are being taken under the benami and income tax laws, said Jaitley, who's also the corporate affairs minister, during Question Hour in Parliament.Replying to supplementaries, Jaitley mentioned the recent Securities and Exchange Board of India Sebi ) action against suspected shell companies that had rocked the bourses, saying "Baazaar mein thoda uthal puthal hua (there was some turmoil in the markets).

act benami business companies dormant Jaitley minister said shell companies steps


DPM meets Tillerson [0.00]

Posted on Aug. 10, 2017, 12:23 a.m. by Distressed Volatility @ [source]

After meeting the Prime Minister the night before, US Secretary of State Rex Tillerson ended his Asia tour by calling on the Deputy Prime Minister in Kuala Lumpur on Wednesday.

Asia ended meeting minister night Prime Rex Secretary Tillerson Tour


NEW DELHI: Finance Minister Arun Jaitley on Friday launched a new ETF under the name Bharat 22, which will comprise shares of 22 companies.Jaitley said that the ETF will have a single company cap of 15 per cent, while a sectoral cap of 22 per cent will also be in place.The Finance Minister said that Bharat-22 ETF will comprise of the government’s holding in SUUTI CPSE ETF and PSU banks.Bharat 22 will have 15.2 per cent of SUUTI's holdings.Among the 22 stocks, IOC, BPCL and NALCO will have 4.4 per cent weight each in Bharat-22.

Bharat cap cent comprise ETF Finance holding Jaitley minister SUUTI


Pakistan is likely to face serious political and economic instability after the country's three-time Prime Minister Nawaz Sharif is ousted from power by the Supreme Court following a corruption investigation into his family's wealth.

But the nuclear-armed country is now set for political uncertainty with no clear successor in place.

country economic face instability minister Pakistan political Prime three time


Pakistan Stock Exchange (PSX) cracked over 1600 points intraday on Friday after Prime Minister was disqualified from office by the country’s Supreme Court on charges of corruption in the graft scandal.

In intraday trade, the index shed over 1600 points to 44,235 levels.

Court disqualified Friday index intraday lost minister Prime Supreme verdict


TOKYO: Japan's Nikkei share average fell on Friday after tech shares dropped sharply following weakness on the Nasdaq market , while investors stayed cautious as the dollar slipped against the yen.Semiconductor equipment makers tumbled, with Tokyo Electron Ltd diving 7.2 per cent and Advantest Corp declining 5.0 per cent, together contributing a hefty 53 negative points to the Nikkei benchmark.The Nikkei dropped 0.6 per cent to 19,959.84. For the week, it declined 0.7 per cent, falling for a second week.The broader Topix shed 0.4 per cent to 1,621.22, with turnover hitting a six-week high of 2.77 trillion yen.Investor sentiment was also hurt by the resignation of Defence Minister Tomomi Inada over a series of gaffes, missteps and a cover-up at her ministry that have contributed to a sharp plunge in public support for Prime Minister Shinzo Abe.

cent dropped investor Japan minister Nikkei The Tokyo week yen


Russian Foreign Minister Sergey Lavrov has joked about the hype over President Trump's meetings with Russian President Vladimir Putin, suggesting there may have been several inconsequential meetings between the two men at the G-20 summit in Germany.

In an interview with NBC, Lavrov said President Donald Trump may have held more meetings with Vladimir Putin - but he shrugged off the importance of the encounters.

foreign Lavrov meetings minister President Putin Russian Sergey Trump Vladimir


British finance minister Philip Hammond told the board of U.S. investment bank Goldman Sachs that he was pushing for a lengthy transition period after Britain leaves the European Union, a source familiar with the talks said.

Goldman has not formally announced any similar plans but Blankfein has previously said he would like to see an implementation period of at least "a couple of years" once the British exit deal is agreed.

bank board Britain British European Goldman Hammond minister Sachs transition


French banks pledge 1,000 post-Brexit jobs in Paris [0.07]

Posted on July 21, 2017, 3:11 p.m. by Finance @ [source]

French bankers pledged to create 1,000 jobs in Paris as part of a plan to shift their operations out of London once Britain leaves the European Union, following a meeting with France's finance minister, Bruno Le Maire.

President Emmanuel Macron's government has already announced plans to cut payroll tax and cancel a planned extension of tax on share trading, measures that French banks had lobbied for.

bank Finance French le London Maire measures minister plan tax


BRUSSELS: Britain 's Brexit minister vowed to "get down to work" as he kicked off a first full round of negotiations on Monday, but a year after Britons voted narrowly to quit the EU their government still seemed at odds over what it wants. Foreign Secretary Boris Johnson, attending a different meeting in Brussels, passed up an opportunity to deny that was the case.His backing was seen as vital for the 52-48 per cent victory of the Leave camp in June last year.

Brexit Britain Brussels citizens EU Hammond minister negotiations rights trade


The Hungarian government has launched a campaign that vilifies billionaire investor George Soros as a threat to national security. But his support for refugees fleeing the Middle East and Africa for Europe has made him a target of the Hungarian government led by Prime Minister Victor Orban.

Campaign country government Hungarian Hungary minister National Orban security Soros


Merkel's opening remarks at G20 [0.40]

Posted on July 7, 2017, 5:31 p.m. by Distressed Volatility @ [source]

Germany's Prime Minister Angela Merkel lays out the "great global challenges" facing the G-20 summit leaders during her opening remarks.

Angela challenges facing Germany global lays Merkel minister Prime summit


While the nation’s political integration was initiated by the Bharatiya Janata Party’s (BJP’s) ideological founder Syama Prasad Mookerjee, the Narendra Modi-led government has been able to integrate the nation economically through the goods and services (GST), Finance Minister said on Thursday.

Jaitley’s address focused on how economically weaker states such as J&K, and had welcomed the prospect of a destination-based to fill up their coffers.

Delhi economically Finance Jaitley led minister Modi Mookerjee nation party


Commerce and industry minister Nirmala Sitharaman said that she was in favour of according industry status to the agriculture sector . Such a classification could allow the sector avail of facilities and benefits on par with an industry.“I think the agriculture sector should be given industry status if so many people are dependent on it, "Sitharaman said while addressing the 4th SBI Banking and Economics Conclave on Wednesday.

Agriculture avail classification commerce favour industry minister Nirmala Sitharaman status


Pakistan’s rupee plunged the most in nine years, after the central bank was said to have devalued the currency as South Asia’s second largest economy showed signs of stress ahead of elections next year.The rupee fell 3.1 per cent to 108.1 against the dollar at 2:29 p.m. local time on Wednesday, the lowest level since December 2013, according to data compiled by Bloomberg. State Bank of Pakistan spokesman Abid Qamar declined to comment.The International Monetary Fund last year pointed out that the currency, which operates under a managed float regime, was overvalued by as much as 20 per cent and was negatively impacting its exports.

bank cent central currency devaluation minister Pakistan rupee The year


Prime Minister Lee Hsien Loong on Monday (Jul 3) delivered a ministerial statement in Parliament refuting the allegations made by his siblings, Dr Lee Wei Ling and Mr Lee Hsien Yang, against him and the Singapore Government, saying they were "entirely baseless".

delivered Hsien Jul Lee Loong minister ministerial Monday Prime statement


Tokyo voters have sent a defiant message to Japan's Prime Minister, handing his party an historic defeat in the city's parliamentary elections. Shinzo Abe's LDP party was reduced to just 23 seats in the city's parliament, compared to 57 in the previous term.

city defiant handing Japan message minister party Prime Tokyo voters


At 12:33 am, the S&P BSE was trading at 30,828, down 29 points, while the broader Nifty50 was ruling at 9,492, down 11 points.

The government on Thursday hiked the rate for the construction sector to 18% from 12%, but removed land value from computation of tax liability.

BSE index led lost minister rollover Rs stock tax Thursday