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India, China to treble HNI population by 2018: report
India and China are likely to treble the high net worth individuals" (HNI) population and add $4 trillion to its wealth by 2018, leading its growth in the Asia-Pacific region, a report says.

RBI not in favour of multiple BPLRs
The Reserve Bank of India (RBI) is not in favour of a multiple benchmark prime lending rate (BPLR) mechanism as proposed by bankers.

News of the day

Sun gets support of RMG in battle against Taro
Sun Pharmaceutical Industries’ attempts to take over Israeli drug major Taro Pharmaceutical is gaining more support from independent advisory firms. RiskMetrics Group’s ISS Governance Services (RMG), an independent proxy advisory firm, has recommended that shareholders of Taro Pharmaceutical Industries vote against all the proposals made by Taro’s board of directors, including all of its nominees for election and re-election as directors in the upcoming Annual General Meeting (AGM) scheduled for December 31, Sun Pharma said in a press release.
International Business

Ban slams Georgia over 'Russian blackmail' claim

UN Secretary-General Ban Ki-moon has lashed out at Georgia"s claim that he was coerced by Russia into amending his recent report on the Caucasus nation. - Ban Ki-Moon appeals urgent aid for refugees in North West Pak - World economy may shrink 2.6% in 2009: UN - N Korean nuke, missile test will affect disarmament process:UN - UN postpones conference on economic crisis until late June - UN condoles death of cyclone victims in India, Bangladesh - NKorea nuclear test would negatively affect regional peace:Ban Last week, Ban"s report to the Security Council — in which he wrote that the UN Mission in the country (UNOMIG) has contributed to the local population"s overall security but cautioned that an agreement on a revised security regime is needed for lasting stability — was made public. Yesterday"s claim made by Ambassador Alexander Lomaia of Georgia "that the Secretary-General amended his report on Georgia in response to "Russian blackmail" is categorically rejected," Ban"s spokesperson said in a statement. Lomaia made the claims at a news conference at UN Headquarters in New York. He had said Russia threatened to veto an upcoming Security Council resolution on revamping the UN mission in Georgia"s breakaway region of Abkhazia unless the content of Ban"s report to the council were changed. The statement added that the Secretary-General"s main concern in the drafting of his report on Georgia has been that "all concerned parties should engage on the substantive issues in question, more specifically on a mechanism to guarantee safety and security in this troubled region." The issue of a future UN mission in Abkhazia has become contentious after the Georgian-Russian war in the breakaway region of South Ossetia last August, Russia recognises the independence of Abkhazia and South Ossetia while Georgia says these are part of its territory.


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