Banks to scale up foreign operations Aiming to tap the fast-growing NRI and corporate financing business overseas, a host of Indian banking majors including the countrys largest lender, State Bank, are planning to enhance their overseas presence this fiscal. State Bank of India (SBI), which recently received the Singapore monetary authoritys approval to set up 25 branches, is on the final stages of setting up offices.
OPECs Khelil rules out oil price decline OPEC President Chakib Khelil ruled out on Sunday an eventual oil price fall in view of strong Chinese and Indian demand, adding geopolitics and a weak dollar were behind the current spike, Algerias APS news agency reported.
CBDT eases security norms in a few cases The Central Board of Direct Taxes (CBDT) has decided to relax norms on scrutiny of tax payers whose premises have been surveyed by the officials, a step aimed at encouraging evaders to pay up.
Markets pin hope on corporate earnings After reeling under heavy selling pressure amid bearish global cues in the recent past, the Dalal Street is likely to see the focus shifting back to domestic factors with the latest quarter earnings season set to start with IT bellwether Infosys figures coming this week.
Asian exporters suffer as global demand weakens Cliff Sun is hurting. The 54-year-old Chief Executive Officer of Kin Hip Metal Plastics had spent much of the past year grappling with rising labor and material costs in China and a strengthening yuan.
The ongoing construction of the city tallest building China World Tower, center, stand in the city of fast developing Central Business District in Beijing, on Sunday. AP
