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  • Need more positive signs before scaling back stimulus, says Bernanke Need more positive signs before scaling back stimulus, says Bernanke

    WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...

  • Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm

    Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...

  • China central bank switches to liquidity injection

    The People's Bank of China (PBOC), the country's central bank, swung back to liquidity injection this week with 128 billion yuan ($20.9 billion) being pumped into the banking system through its regular open market operations. The PBOC move marked a turn-around in the central bank's open market operations last week when it drained 35 billion yuan from banks in the open market after hedging the ...

  • Group of Ministers on CBI autonomy to meet today

    The Group of Ministers (GoM) appointed to discuss modalities for ensuring greater independence for the Central Bureau of Investigation (CBI) will meet on Thursday in Finance Minister P. Chidambaram's office. According to a television channel report, the government had set up the GoM after the Supreme Court had pulled it over the lack of functional autonomy to the CBI. The Supreme Court in its ...

  • Chinas manufacturing slows HSBC

    China's manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed. The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for May fell to 49.6 in May, dropping under the boom-bust line of 50 for the first time since October, according to figures released by HSBC Thursday. Qu Hongbin, chief economist of the HSBC China, said ...

Movie Review

Shrek Forever After

Shrek Forever After

In the great and ever-expanding pantheon of unnecessary sequels, Shrek Forever After deserves a special place, especially since the previous three films had formed a nicely self-contained arc of character development in which the perpetually grumpy green ogre of the ... ...

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  • Angela Merkel tops Forbes Most Powerful Women list for third successive year

    German chancellor Angela Merkel has been named as the most powerful woman in the world for the third successive year by business magazine Forbes. Brazilian President Dilma Rousseff was ranked second with Melinda Gates, co-chairman of the Bill and Melinda Gates foundation in third. According to the Independent, the Queen, rankedat 40, is the oldest woman on the list and has dropped 12 places ...

  • Finance head Carrion to run for IOC president

    Finance Commission head Richard Carrion has joined the race to succeed International Olympic Committee (IOC) president Jacques Rogge. The Puerto Rican will run against Thomas Bach, Ng Ser Miang and Wu Ching-kuo, who has yet to officially declare his intention to run, reports Xinhua. Carrion, 60, has no sporting background. He is chairman of a financial holding company and since 2002 has ...

  • Japanese economy has begun to recover central bank

    Japan's central bank said Wednesday that it will continue pursuing its current stimulus program and that the country's economy "has begun to recover" thanks to a reversal in the decline of exports, which account for 40 percent of Japanese GDP. "Domestic demand remains resilient due to the effects of the monetary relaxation measures" and the recently-approved stimulus policies, the Bank of Japan ...

  • Madhya Pradesh annual plan for 2013-14 finalized at Rs. 35500 crore

    The Planning Commission has approved an annual plan outlay of Rs. 35,500 crore for Madhya Pradesh for the financial year 2013-14. The plan size was finalized in a meeting between Planning Commission Deputy Chairman Montek Singh Ahluwalia and Madhya Pradesh Chief Minister Shivraj Singh Chouhan here last evening. In his comments on the performance of the State, Ahluwalia said the State has done ...

  • Childrens Place Spikes as Guidance Is Raised

    Children's Place said net income fell 22% in the 13-week quarter to $19.3 million, or 83 cents a share. Net sales dropped 3.5% to $423.2 million. Comparable-retail sales declined 5.5%, the company said. Analysts expected Children's Place to earn 61 cents a share on revenue of $416.6 ...

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