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April 19: India tests Agni-V

  • April 19: India tests Agni-V

    April 19: India tests Agni-V

  • ICICI Bank cuts base rate by 0.25%

    A customer uses his card to withdraw money from an ATM in Jammu

    State-run banks are likely to give in to a government directive and lower lending and deposit rates within the next few days after the Reserve Bank of India (RBI) made a deeper than expected cut to its policy rate on Tuesday

    Banks had been reluctant to cut their lending rates despite a reduction in their reserve requirements, saying tight cash conditions were keeping deposit rates high and deposit growth low, and are unlikely to match the full 50 basis point cut in the policy rate

    On Thursday afternoon, ICICI Bank, the country's largest private sector lender, said it was lowering its lending and deposit rates by 25 basis points each

  • IMF has around $316 bn in funding pledges

    The IMF nameplate is displayed on a wall at the headquarters during the World Bank/International Monetary Fund Spring Meetings

    The head of the International Monetary Fund said on Wednesday member countries had committed $316 billion toward new IMF resources to help contain the debt crisis in the euro zone

    The meetings of the World Bank and IMF member countries, which officially start on Friday, will try to raise around "$400 billion for the IMF, an issue that has taken on new urgency given increased borrowing costs in Spain and Italy that has reignited fears that the euro zone crisis will flare again

  • Geithner to raise US biz concerns over India with Pranab

    U.S. Treasury Secretary Tim Geithner participates in a conversation on India-U.S. relations with India's Finance Minister Pranab Mukherjee

    Finance Minister Pranab Mukherjee will today meet his American counterpart Timothy Geithner who is expected to raise concerns of the US corporate sector over doing business in India

    The meeting, on the sidelines of the Annual Spring session of the International Monetary Fund and World Bank, will happen within a couple days of about a dozen US industry associations writing to the US Treasury Secretary to take up the controversial move by India to amend the Income Tax Act with retrospective effect

  • Apple investors brace for more turbulence

    A man poses with an iPhone during Earth Hour in the center of Brasilia

    Apple Inc's results will be dissected more closely than ever next week, after a share swoon raised concerns on Wall Street that the stock's gravity-defying rally may be losing steam

    Five straight days of stock losses for the world's most valuable company sparked fears it had ventured into dreaded bubble territory and was overdue for a strong pullback