The second largest bank in India, ICICI bank would be raising 20,000 crores in the month of June. The bank would be raising 15,000 crore through public issue and the rest of the money through ADR issue. In India this is the biggest ever fund raising...
Archive - April 2007
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In order to dissipate the heat out of the investment boom in China the country has decided to raise the amount of money which the banks are required to hold in reserves. This decision has been taken for the fourth time in this year in order to avoid...
More than 20 years after the world's leading banks opened outlets in China, a group of foreign banks has started providing local-currency retail services in China after receiving the final approval from the authorities. For the first time,...
The chairman of German industrial giant Siemens, who is embroiled in a major corruption scandal, has finally decided to resign. Heinrich von Pierer has announced that he will step down next week after a board meeting. Siemens is currently engulfed...
Mortgage finance giant Freddie Mac has decided to buy as much as $20 billion in mortgages to help borrowers with high-priced loans stay on their survival course. Freddie Mac, the US mortgage finance provider, said that it would offer backing for up...
The US Education Department announced to suspend lenders' access to a government database that contains the personal financial information of millions of student aid applicants. The department was acting on concerns that loan companies or other...
The US Supreme Court in a path breaking ruling held that units of national banks were largely exempt from state regulation. The decision has infuriated critics who argue that it would further wear away the ability of California and other states to...
In a move which could increase FDI in the financial sector in Japan the prime minister of the country has asked the financial regulators to come up with measures for relaxing rules with regards to separation of banking and broking businesses. As of now...
Taking a credit card might be easy but maintaining it may not be the same. The time has gone when credit card companies used to be patient with their customers but now they are getting strict with them. All this is being blamed on the increasing bad...
First time home buyers can really thank Royal Bank of Scotland since it has introduced a number of mortgage deals which would impress them. The offer is open to both first tim and repeat buyers. The bank has now announced a two year fixed rate mortgage...
Indian middle class is shuddering under the fear of central bank. The revised monetary policy has left the middle class confused. ICICI Bank which holds thirty percent of retail lending in the country raised the interest rate on all its floating rate...
Up till now tax evasion was quite easy in China since high income bracket taxpayers could easily divide their income into different categories and hence evade taxes. The loophole existed in the present system where income tax could be paid under eleven...
These days an internet scam is troubling IRS taxpayers under which fraudulent emails are being sent to taxpayers of IRS which appear to have been sent by them. The email contains a link which asks the taxpayers for their personal and financial...
You brought a credit card from the company thinking that the lower interest rate would make your life heaven but wait as this may cause more woes proving to be an expensive deal for you. Those attractive looking interest rates or APRs may cost you a...
Sub-prime mortgage market is basically all about lending to persons with limited borrowing history or having not-so-good quality asset. Here, as borrowers cannot submit better asset for mortgage or they do not have good steady income or they do not...
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