You are here » Home » Multimedia » Photo Gallery » photogallery individual » August 30: News behind the lens

August 30: News behind the lens

  • August 30: News behind the lens

    August 30: News behind the lens

  • <p>An elderly man walks in a park in Mumbai</p><p><b>India may allow foreign investment of up to 26% in the pension sector, giving global players access to a roughly $2 billion pool of assets that is expected to grow quickly as more people join the organised workforce.</b></p><p>The recommendation by a parliamentary panel on a pending pension bill is the latest fillip to economic reforms that have stalled as the government was paralysed by a spate of scandals.</p><p>The government has been taking steps of late to make the country more investment friendly, backing in principle foreign direct investment in multi-brand retail, a reform that has been delayed for years.</p>

    An elderly man walks in a park in Mumbai

    India may allow foreign investment of up to 26% in the pension sector, giving global players access to a roughly $2 billion pool of assets that is expected to grow quickly as more people join the organised workforce.

    The recommendation by a parliamentary panel on a pending pension bill is the latest fillip to economic reforms that have stalled as the government was paralysed by a spate of scandals.

    The government has been taking steps of late to make the country more investment friendly, backing in principle foreign direct investment in multi-brand retail, a reform that has been delayed for years.

  • <p>A cashier (L) counts currency notes as customers wait inside a bank in Hyderabad</p><p><b>Indian corporate houses, eager to enter the banking sector, are gearing up to battle for the few licences that the Reserve Bank of India (RBI) is likely to issue.</b></p><p>Analysts and industry players expect the RBI to issue two to five new licences, meaning most of the more than 10 corporate groups that have expressed interest in setting up a bank may be disappointed.</p><p>India has not issued a new banking licence since 2004 and has said it will only issue a few new licenses. The RBI is looking to expand access to banking services in a country where more than half of families are outside the formal financial sector.</p>

    A cashier (L) counts currency notes as customers wait inside a bank in Hyderabad

    Indian corporate houses, eager to enter the banking sector, are gearing up to battle for the few licences that the Reserve Bank of India (RBI) is likely to issue.

    Analysts and industry players expect the RBI to issue two to five new licences, meaning most of the more than 10 corporate groups that have expressed interest in setting up a bank may be disappointed.

    India has not issued a new banking licence since 2004 and has said it will only issue a few new licenses. The RBI is looking to expand access to banking services in a country where more than half of families are outside the formal financial sector.

  • <p>Chocolate bars in Euro banknote design are on display at a candy shop in Vienna</p><p><b>Ratings agency Standard and Poor&#39;s lowered its economic growth forecasts for the euro zone on Tuesday, but said the shared currency bloc was not headed towards a new recession.</b></p><p>Public and private institutions have been scrambling to revise down their growth outlooks for Europe as a stream of weak data have pointed to sharply slowing activity in recent months.</p><p>S&P said in a new report it forecast growth of 1.7% in 2011 and 1.5% in 2012, down from estimates in July of 1.9% and 1.8% respectively.</p>

    Chocolate bars in Euro banknote design are on display at a candy shop in Vienna

    Ratings agency Standard and Poor's lowered its economic growth forecasts for the euro zone on Tuesday, but said the shared currency bloc was not headed towards a new recession.

    Public and private institutions have been scrambling to revise down their growth outlooks for Europe as a stream of weak data have pointed to sharply slowing activity in recent months.

    S&P said in a new report it forecast growth of 1.7% in 2011 and 1.5% in 2012, down from estimates in July of 1.9% and 1.8% respectively.

LATEST GALLERIES