Employees in India will earn interest on inoperative accounts from new financial year beginning from April 2016. Employees' Provident Fund Organization (EPFO) has taken a decision to offer benefit of accrual of interest on inoperative accounts.
Other
Meketa Investment Group enhances staff ownership team
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
Realty growth propels China economic upswing in March
The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
ICICI Bank's home finance sale on backburner
ICICI Bank, India's largest private sector lender, has deferred its sale plan on home finance division. ICICI Bank has put its home finance division's valuation at INR 2,400 crore, while potential private equity (PE) buyers have asked for a 20 percent discount on valuation.
US investments in India outpacing China
Investments from the US surpassed China ever since Narendra Modi became Prime Minister of India in May 2014. The encouraging economy growth is the prime reason for robust US investments in India.
Latest News
The report released by Needham & Company, an investment bank and asset management company, showed that bitcoin has been undervalued by more than $200, nearly 58% based on the current price.
Arun Jaitley, India's Finance Minister, has voiced for a possible interest rate cut ahead of Reserve Bank of India's (RBI) review meeting next week, while focusing on controlling fiscal deficit. The Centre has already slashed interest rate on small savings making more conducive weather for lending rate cut.
US-based Western Alliance Bank has decided to buy GE Capital assets from General Electric Co. The deal is expected to be completed by end of 2016. General Electric will focus on its core industrial operations.
The £21-billion merger of London Stock Exchange (LSE) with Deutsche Börse is facing an increasing resistance from Germany. Politicians and senior industry leaders are concerned about losing the financial hub status of Frankfurt.
The growing Chinese demand is boosting Australia’s food, health, tourism and education sectors. The economy transitions in dragon country from infrastructure investment to consumption-led growth is showing up all over Australia.
Indian Rupee sovereign bonds are favorite among some global funds. India's high performing debt fund managers are predicting further gains from sovereign bonds as benchmark notes heading towards their best March returns in 13 years.
Nissin has made its takeover approach to Premier Foods by buying 17.3 percent stake in the company. The deal made Nissin Premier Foods’ largest stakeholder, but the company must agree to not make a takeover bid to Premier Foods in at least six months.
Japan is planning big for exploring 'fintech' (financial technology) segment. The world's third largest economy has decided to ease restrictions on investment in the fintech sector. After the proposed Bill is cleared by Japan's Parliament, banks can have 100 percent holding in non-finance related firms.
The rise in household spending has propelled US economy to grow surpass earlier forecasts for fourth quarter of 2015. However, the US GDP growth rate eased in fourth quarter from previous quarter.
