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TO CAPITALISE PSBs, GOVT WILLING TO PRUNE ITS STAKE TO 52 PER CENT

The finance ministry is likely to put out a note soon, detailing its road map to capitalise state-run lenders while explicitly stating the government’s intent to maintain control over public sector banks with at least 52% stake.

This marks a shift from the previous UPA government’s decision to keep 58% shareholding in state-run banks. It is in keeping with the Narendra Modi-led government’s stand articulated in the Budget 2014-15 that it would encourage banks to raise capital from the market.

The government will push banks this way to the point of its own stake falling to 52%, to reduce reliance on the budget.

It has set aside only Rs 11,200 crore for bank capitalisation this f

POWER MINISTRY MULLS FUND TO FINANCE HYDRO PROJECTS

NEW DELHI: The power ministry plans to create a fund to provide long-term finances to hydropower developers, and aims to play an active role in resolving state level sues that are blocking such projects.

“Hydropower did not get the desired attention as concerned ministries and departments were working in silos, and problems with states and central authorities could be resolved.

However, the new government is working in tandem as a team and we are hopeful to resolve pending issues to give conducive environment to hydropower sector,” power, coal and renewable energy minister Piyush Goyal said on Tuesday.

He said one of his first projects Prime Minister Narendra Modi inaugurated was the

Why Does AT&T Have A 5% Dividend Yield?

ByBlack Coral Research: By Clinton Holmes Seriously, when I first saw AT&T’s (NYSE:T) dividend yield was above 5%, I couldn’t believe it. AT&T is a long-standing proven company. Over the last two decades, AT&T has had multiple periods of explosive growth. The first period of growth came between 1995 and 2005 when revenue and net income almost tripled due to the activation of AT&T’s mobile infrastructure. T […]

Domestic violence in UK: here’s what Yvette Cooper should have argued

Yvette Cooper addressing the Labour Party conference in Brighton Photo: EDDIE MULHOLLAND FOR THE TELEGRAPH By Cathy Newman, Presenter, Channel 4 News 12:04PM BST 28 Jul 2014 Follow Yvette Cooper has done more than virtually any other MP I can think of to highlight the scourge of domestic violence – and the scandal of the number of brutal men (and some women) who escape justice. So I’ve no […]

Sharia-compliant website offers Muslims relationship advice

DUBAI // The founder of a website offering relationship and sex advice for married Muslim couples says he is trying to change attitudes across the region. Karaz.me was launched in Palestine three months ago and has already attracted much attention, but its chief executive, Ashraf Al Kiswani, insists all of its products and services adhere to religious standards. Now he is hoping to attract customers in the […]

Pre-Ramadan correction on DFM forecast

Analysts are predicting a pre-Ramadan correction on the Dubai Financial Market. They say this has happened twice before: in early 2006 after the near doubling of the market in 2005; and in 1999 when the Emaar-IPO bubble burst. It will happen again. The price-to-earnings ratio has swung from an under-valued 10 to an extremely over-sold 21. Emerging markets in the MSCI Index, whose highly prized inclusion of […]

What will the middle classes do if there’s a spelt shortage?

Photo: Martin Pope As if the middle classes didn’t have enough to worry about already – what with shrinking pension pots, children who refuse to fly the nest and a ‘hidden’ 60 per cent tax rate, as revealed by the Telegraph – there’s a new crisis on the way: the spelt flour shortage. The ancient grain that has become fashionable among artisan bread-fanciers as a gluten-free alternative […]

Rajat Gupta’s conviction upheld

A US federal appeals court upheld the conviction of former Goldman Sachs Group Inc director Rajat Gupta, one of the biggest successes in federal prosecutors’ long-running probe to stop insider trading on Wall Street. The 2nd U.S. Circuit Court of Appeals rejected Gupta’s claim that wiretap evidence should not have been admitted to show that he leaked news about Goldman’s finances, including a crucial investment by Warren […]

Contrarian fund makes major Rupee investment

By Lewis Braham Don’t try to catch a falling knife. It’s one of the oldest saws on Wall Street. But to make a lot of money, sometimes you have to get a little bloody. So say contrarians like Brian Singer. The risk is great, “but the return is of such an astounding magnitude, you’re willing to do it,” says Singer, manager of the William Blair Macro Allocation […]

US default seen as catastrophe dwarfing Lehman’s fall

Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen. Failure by the world’s largest borrower to pay its debt — […]

Marketing Lessons For The New Web: Four Success Tips

For today’s marketers, online channels present a vast array of new opportunity – as well as the potential for costly distraction. New and emerging platforms — such as social and mobile channels — continue to evolve the online landscape of consumer engagement. As a result, success metrics and economics can change quarterly depending upon customer adoption curves. Marketers can, and should, choose from a broad menu of […]