Higher levels of ODI would now need prior approval from RBI. Last week, Finance Minister P Chidambaram had reiterated that the current account deficit (CAD) would be brought down to USD 70 billion this fiscal from USD 88.2 billion in the previous year and steps would be taken to increase foreign fund inflows. High gold imports pushed CAD to a record high of 4.8 percent of GDP in 2012-13 when India imported 845 tonnes of yellow metal. Import of gold in April-July 2013-14 rose 87 per cent to 383 tonnes as compared to the same period of last fiscal. In order to curb import of gold and contain CAD, the government raised customs duty on precious metals like gold, silver and platinum to 10 per cent.
Barclays Finance Chief Resigns Earlier on Health Reasons
Unhelpful Timing Its unhelpful timing for Barclays, said Ian Gordon , an analyst at Investec Plc (INVP) in London , who has a buy recommendation on the shares. However, there should be no impact on the rights issue next month, he said. Barclays gained 0.6 percent to 285.45 pence in London today. The shares have increased 8.7 percent this year.
Development Banks and Post-Crisis Blues in Investment Finance
In principle, even with a domestic base of banks and other financial intermediation vehicles willing and able to fill the gap left by shrinking international syndicated lending, there would be a uniquely additional role to be played by such development banks. The key word here is “additionality”. Chelsky et al approach some of the ways by which, in the cases of projects with a clear development impact, multilateral development banks can provide such “additionality”. To a large extent, I believe, the same principles hold for the whole range of official development banks. First, there is a core financial additionality offered by development banks, when they play a key role as a catalyst, drawing private capital into long-term projects in countries and sectors where significant development results can be expected, but the market perceives high risks.
Finance minister leaves Rudd on a limb over NT tax cut
Wongs comment is damaging for Rudd. She was one of the few ministers he involved in working up the policy, which has been controversial because of its lack of costing and its long time frame. Resources minister Gary Gray was one of those left out of the loop. Wong contacted The Conversation tonight to clarify her remarks.