REUTERS - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth.
WASHINGTON - A bipartisan group of more than 170 U.S. lawmakers joined with a coalition of U.S. business groups on Tuesday to demand increased U.S. pressure on India to change policies that they said threaten American exports, jobs and innovation.
The head of the National Security Agency said U.S. surveillance programmes had helped disrupt more than 50 possible attacks since September 11, 2001, as sympathetic members of Congress also defended the use of the top-secret spying operations. Full Article
Despite India’s substantial economic progress over the decades to emerge today among the ten largest economies in the world in nominal GDP terms and the top three in PPP terms, the rupee has not kept pace with this progress and has witnessed periods of high volatility. Until India traverses the distance from a trade-deficit economy to a neutral or trade-surplus nation, the rupee will always remain unhinged. Column
India's banking system may lose the only friend it has had the past couple of years: the diaspora. For every $1 of time deposits that Indian banks have raised from residents in the past year, 13 cents has come from the estimated 25 million people of Indian origin who live in other countries. On all but a fraction that amount, the currency risk lies with the depositor. Full Article
Singapore has come up with a creative way of penalising rate-rigging banks. Regulators are forcing lenders implicated in manipulating the city-state’s borrowing and currency rates to set aside up to S$12 billion ($9.6 billion) in extra central bank reserves. With rates low, however, the costs will be much lower than recent mega-fines. Full Article
India's Amitav Ghosh is among a group of 12 poets, authors and academics vying for the 2013 Warwick Prize for Writing with themes ranging from the Australian war effort in France to opium sellers in 19th century India. Full Article