Search Result for : Financial Markets

The Dollar Business Bureau  The Chief Executive of Royal Bank of Scotland (RBS), Ross McEwan, revealed today that they are in discussions with the Dutch Central Bank to use it as a base after Britain exits the European Union.  McEwan revealed today that RBS plans to build its Amsterdam unit which was acquired after RBS bought ABN-Amro in 2008. Though presently the staff at Amsterdam are only a handful, the bank plans to increase the staffing size to 150. McEwan told reporters, "Setup costs will be in the low tens of millions, running costs also in the low tens of millions.”  RBS in its half-year report said, "NatWest Markets has reviewed ways to minimise disruption to the business and continue to serve its ...

The Dollar Business Bureau Keeping in view the US’ recovering economy and the investors’ positive sentiments around it, the US Federal Reserve Chair Janet Yellen on Friday said the fed will adopt a more aggressive rate path ahead, first by raising interest rates at its next meeting on March 14-15, and possibly make further adjustments after the meeting.   "At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal fund rates would likely be appropriate," Yellen said. “We realise that waiting too long to scale back some of our support could potentially require us to raise rates rapidly sometime down the road, ...

The Dollar Business Bureau Inaugurating the new campus of the National Institute of Securities Markets at Patalganga, on Saturday the PM equivocally asserted that his government ‘will continue to follow sound and prudent economic policies for a brighter future of the country’. Addressing a conclave of investment bankers, financial experts and market regulators after inaugurating the new campus, the Prime Minister said, ‘this is a time of slowdown in the global economy. Developed countries and emerging markets are both facing slow growth. Against this background, India is being seen as a bright spot. Growth is projected to remain among the highest in the world. India’s place as the fastest growing large economy has not come about by accident. To see how far we ...

The Dollar Business Bureau Comptroller and Auditor General of India (CAG) Shashi Kant Sharma said on Friday that there is a need to consider the audit of financial regulators such as the Reserve Bank of India (RBI). “In India, CAG does not audit the RBI, whose auditors are appointed by Central Government under the provisions of the RBI Act; CAG conducts audit of other financial sector regulators like SEBI, IRDA and PFRDA but does not conduct performance audits”, said Sharma at an ASSOCHAM event in New Delhi.  “In the wake of growing cases of financial frauds, this is a thought to consider as to whether, in coming times, our audit should take into account the vulnerabilities and risks India’s ...

The agreements were necessitated after the UK introduced changes in its financial services regulations The Dollar Business Bureau The RBI signed separate MoUs with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom   The Reserve Bank of India (RBI) on Wednesday said that it has signed agreements with Britains two regulatory bodies to ensure greater supervisory cooperation and exchange of information related to financial markets. The RBI signed separate Memoranda of Understanding (MoUs) on supervisory cooperation and exchange of supervisory information with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom, the central bank said in a statement. Though the Reserve Bank had entered into an agreement with the Financial Services Authority (FSA) of the UK in July 2012, fresh ...

The Dollar Business Bureau The global merchandise trade during the current year is expected to grow at the rate of 2.8%, lower than the previous estimate of 3.3%, mainly due to slowing import demand in China, Brazil and other emerging economies. The World Trade Organisation, in its quarterly report, released on Wednesday, also said that the international trade is estimated to grow at 3.9% in 2016. The projection for next year is also lower than 4% estimated in earlier report in April 2015. The average growth rate for the last two decade is 5%. “These revisions reflect a number of factors that weighed on the global economy in the first half of 2015, including falling import demand in China, Brazil and other ...

The Dollar Business Bureau Measures taken by the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) to regulate the financial markets have got top ratings in a global survey. The regulatory framework of Indian market regulators was rated better than those adopted by similar bodies in the US and China, according to a latest assessment study conducted by the International Organisation of Securities Commissions (IOSCO) and the Bank for International Settlements (BIS). The study was conducted to assess the implementation of Principles of Financial Market Infrastructures (PFMIs) defined by IOSCO— a global body of regulators and BIS— a grouping of central banks. The study assessed regulatory framework of different countries on eight parameters and gave ratings ...

The Dollar Business Bureau “The government will support MSME Clusters for global competitive manufacturing through setting up of 15 new Technology Centres with World Bank assistance, augmenting the 18 existing TCs with new technologies and testing facilities,” Minister of State, Micro, Small and Medium Enterprises, Mr Giriraj Singh. As MSMEs are important part of several values chains, it is expected that they will play an important role in the Government’s ‘Make in India’ drive. The Minister said that his Ministry will rise to the challenge through action plans directed at enhancement of the provision of collateral free credit through creation of state verticals for extending guarantees to the entrepreneurs of particular state with financial support from state governments. Creation ...