APN News

  • Monday, January, 2019| Today's Market | Current Time: 03:46:32
  • Indian, Chinese middle class new engine of global growth: ADB

    Asia’s middle class population, led by China and India, will replace the role of the US and Europe as engines of growth for the world economy, said the Asian Development Bank (ADB) in New Delhi Asian consumers are likely to spend USD 32 trillion by 2030, accounting for 43 per cent of global total consumption, […]

    Everbright Bank Makes Shanghai Debut

    China’s stocks opened slightly higher Wednesday with the benchmark Shanghai Composite Index up 0.1 percent to open at 2,674.5 points. The Shenzhen Component Index rose 0.2 percent to open at 11,304.12 points. China Everbright Bank made its debut on the Shanghai bourse Wednesday, with its share price opened at 3.37 yuan (about 0.49 U.S. dollars), […]

    World Bank to provide USD 900 million to flood-hit Pak

    The World Bank has agreed to provide USD 900 million financial aid to Pakistan which has been hit by devastating floods affecting 14 million people and leading to crop loss estimated at USD 1 billion. “The Government of Pakistan has requested around USD 900 million of financial support from the World Bank, which we have […]

    China’s FDI up Nearly 30 Pct in July

     The amount of foreign direct investment (FDI) China received in July rose by 29.2 percent year on year to 6.924billion U.S. dollars, said Yao Jian, spokesman of the Ministry of Commerce (MOC), Tuesday. The figure brought the country’s FDI inflow to 58.35 billion U.S. dollars in the first seven months of the year, an increase […]

    Oriental Bank of Commerce formalizes tie up with SBI Mutual Fund

    Oriental Bank of Commerce, with its wide-spread network of 1533 branches and very strong base of One Crore Current and Savings customers, has formalized its tie-up with SBI Funds Management Pvt. Ltd. – Investment Managers for SBI Mutual Fund, one of the largest mutual funds in the country. The customers of Oriental Bank of Commerce […]

    FM to meet chiefs of public sector banks tomorrow

    Finance Minister Pranab Mukherjee will meet chiefs of public sector banks in New Delhi on Saturday, at a time when industrial growth has decelerated to a 13-month low of 7.1 per cent and interest rates have moved northward. The Finance Minister will also take stock of the financial performance of the banks and their projections […]

    SBI Q1 net profit up 25% at Rs 2914 cr, beats estimates

     India’s largest bank – State Bank of India (SBI) has announced its results for the quarter ended June 2010. It has reported net profit of Rs 2,914 crore as against Rs 2,330.4 crore, a growth of 25.04% on year-on-year basis. Net interest income jumped 45.36% to Rs 7,304 crore from Rs 5,024.9 crore in same […]

    RBI proposes foreign investment in pvt banks below 50%

    The Reserve Bank on Wednesday suggested lowering the foreign investment limit in new private sector banks to below 50 per cent from 74 per cent currently, in order to strengthen the local banks.  “This would enable foreign capital to be used in the promotion of domestic banks … This would allow for foreign technical collaboration […]

    ICICI Bank signs pact for SMX Clearing and Settlement Membership

    ICICI Bank Limited  has entered into an agreement for clearing and settlement banking membership of Singapore Mercantile Exchange (SMX). This membership will enable ICICI Bank to provide clearing and settlement processing services to facilitate settlement of transactions executed on SMX. This membership will also facilitate ICICI Bank to provide a platform to the commodity market […]

    Barclays strengthens its ATM network in Mumbai and Delhi

    Mumbai: (India Prwire) Barclays, a leading global financial services provider, today announced that it will add 30 new off site ATMs in Mumbai and Delhi. These ATMs will be set up starting from the month of August 2010. The ATMs are being installed to increase Barclays reach and presence across these cities, further increasing the […]