China Can Endure Growth Slowdown to 6.5%, Finance Chief Says

Finance Department

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The Shanghai Composite Index (SHCOMP) closed 1.6 percent lower today. False Rally To have said 6.5 percent seems like a new line in the sand, said Tim Condon , head of Asia research at ING Groep NV in Singapore , who formerly worked at the World Bank . It may well be that they dont want people to be suckered into a false stock-market rally. The comment reinforces the reform credibility of the new administration, Condon said. M2 money supply rose 14 percent in June, the Peoples Bank of China said today in Beijing, down from a 15.8 percent pace in May, the biggest slowdown in more than two years. A cash squeeze designed to stamp out speculation sent interbank borrowing costs to the highest in at least a decade.

German Finance Minister approached UBS about acquiring 17% stake in Commerzbank – magazine

Reporter IST The Government of Assam vide provisions of the Right of Children to Free and Compulsory Education Act, 2009 and Assam Right of Children to Free and Compulsory Education Rules, 2011 has issued a notification that all private unaided non-minority schools and schools of specified category as defined under section 2(n) (iii) and 2 (p) of the Act of the… more Reporter IST Tea Board of India has given no objection certificates to 9 self-help groups formed by the small tea growers for setting up tea factories said Industries Minister Pradyut Bordoloi. Each of these groups consists of 50 or more small tea growers. There are 68,465 individual small tea growers in the State as has been revealed during a preliminary survey… more Reporter IST An MoU was signed by the Principal Secretary, Finance Department Himangshu Sekhar Das on behalf of the Government of Assam and the Chief General Manager of NE Circle Rajnish Kumar on behalf of the State Bank of India for payment of salaries to State Government Officers and employees Reporter IST The Finance Department has requested all Departments to expedite submission of their proposals as early as possible so as to facilitate financial year ending transactions in a timely and orderly manner.

Investors Should Reset Ambitions on China

According to the report, the negotiation was about the likelihood of the Swiss bank purchasing the country’s outstanding stake in Commerzbank. The magazine cited no sources. It said that the minister held exploratory talks with the chairman of UBS, Axel Weber. Weber was previously a Bundesbank chief.

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