Top news in pictures
Top news in pictures
Financier George Soros speaks during an interview at the UN Climate Change Conference.
The billionaire investor sold almost all of the 94.7 million shares of recovering financial services giant Citigroup in the first quarter, according to a filing with the Securities and Exchange Commission. He had acquired these shares last year.
As of March 31, 2010, New York-based Soros Fund Management LLC listed ownership of just 10,500 shares of Citi. On Dec. 31, the firm reported owning 94.7 million shares worth $313 million. The stake had been the fifth-largest reported by Soros at year-end.
A woman talks on her mobile in front of a Vodafone store at Vodafone Turkey headquarters in Istanbul.
The world's second largest mobile operator by revenue posted full-year earnings in line with forecasts and raised its dividend policy despite taking a hit on its key Indian business.
The UK-based group, which has 341 million users including its share of those from affiliates, said it would take an impairment charge of 2.3 billion pounds ($3.3 billion) on its fast-growing Indian unit after facing new licence costs.
Higher spectrum costs in India and a fierce price war in the market had weighed on Vodafone ahead of the results, but its financial performance for the year was either in line or slightly ahead of forecasts.
Vodafone said its 1 billion pound cost savings programme was delivered a year ahead of schedule and a new two-year, 1 billion pound cost savings plan would begin.
It posted revenue and adjusted operating pr
An attendant puts back a fuel nozzle after filling fuel in a vehicle at a gas station in Mumbai
A ministerial panel on fuel pricing is likely to meet in the first week of June, a top government official told reporters on Tuesday.
He also said the cabinet may consider raising the price of natural gas sold by state-run firms at low prices fixed by the government in its next meeting.
The ministerial panel, which is headed by Finance Minister Pranab Mukherjee, will consider the recommendations of the government committee that suggested deregulation of auto fuel prices and increase in retail prices of 14.2-kilogramme cylinder of cooking gas and kerosene.
A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila.
Asia's strong growth outlook and prospects for better returns will lift capital inflows into the region but that could increase appreciation pressure on currencies which may require authorities to impose capital controls, a report from Asian Development Bank has said.
In a report released on Tuesday, the bank said recent gains in the Indian rupee, the South Korean won, the Indonesian rupiah, the Malaysian ringgit and the Philippine peso have stirred concerns about potential asset bubbles and the impact of inflows on market stability.
"In this situation, emerging Asian authorities may have to consider utilising the full range of policy instruments to manage risks and macroeconomic stability to support growth," it said in the report.
"This may include resorting to some form of capital controls where appropriate," it said but added such measures are u
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