Every morning Dagadu Beldar, 75, wakes up and cooks rice and lentils in his village home in India’s western state of Maharashtra. After that, there’s little else to do. For the past three years, Mr Beldar has lived alone in his gloomy one-room hut in Hatkarwadi, a stony hillside outback ringed by forests. Drought forced […]
MOSCOW (Reuters) – Russia’s banking sector remains relatively week despite the recent bailouts of major lenders by the central bank, the World Bank said on Monday. In a regular report, the Washington-based World Bank said the banking sector in Russia had a lower adequacy ratio and a higher ratio of non-performing loans than other emerging […]
(Reuters) – Britain may need to revise its rules on illiquid assets in investment funds after prominent investor Neil Woodford suspended withdrawals from his flagship equity fund last week, the head of the financial regulator said on Sunday. “The Woodford fund’s inability to meet investor withdrawals raises a challenge as to whether the rules requiring […]
Police in Kazakhstan have arrested hundreds of people protesting against a poll to elect the country’s first new president in 30 years. The election was called after long-time leader, Nursultan Nazarbayev, 78, stepped down in March. His hand-picked successor, interim President Kassym Jomart-Tokayev, is widely expected to win the vote. Protesters and opposition candidates claimed […]
SINGAPORE – A firm has been fined $4,000 by Singapore’s privacy watchdog for the leak of the personal data of more than 400 national servicemen on June 12 last year due to a technical error. The data comprised the log-in identifications, e-mail addresses, delivery addresses and mobile phone numbers of 427 men from the Singapore […]
DUBAI (Reuters) – Qatar has placed further restrictions on First Abu Dhabi Bank, the United Arab Emirates’ largest lender, as it continues a probe into alleged currency manipulation begun after the UAE and other Arab states launched a boycott against Qatar in mid-2017. The Regulatory Authority of Qatar Financial Center (QFC) said on Sunday it […]
FUKUOKA, JAPAN (REUTERS) – Finance leaders from the world’s top economies on Sunday (June 9) adopted new principles to ensure countries that lend and borrow for infrastructure spending do so in a sustainable manner, a move seen as addressing concerns that China’s lending practices have saddled some emerging nations with huge debt. The principles, signed […]
FUKUOKA, JAPAN (REUTERS) – International Monetary Fund (IMF) managing director Christine Lagarde on Sunday (June 9) called on the Group of 20 major economies to prioritise resolving trade tensions to mitigate risks to global growth. “We met at a time when the global economy is showing tentative signs of stabilising and growth is projected to […]
Tens of thousands of people are marching in Hong Kong against a law critics fear could let China target political opponents in the territory. The controversial extradition bill would allow suspected criminals to be sent to mainland China for trial. The protests are expected to be the biggest since the 2014 Umbrella Movement, which saw […]
TOKYO (NYTIMES) – Ever since she was a young girl, all Ms Erica Takato wanted to do was work with small children. She earned a degree in early childhood education and started her career in a profession of utmost importance for Japan: teaching preschool. Until she got pregnant and was hounded from her job. A […]