India to use regional-based model to consolidate public-sector banks - official
HONG KONG India plans to adopt a regional-based model for consolidating its bloated public-sector banks, the chairman of its Banks Board Bureau said on Tuesday.
MUMBAI The new government must focus on boosting growth, by spurring a pick-up in investments, Fitch Ratings said on Friday, calling this the most important issue from a sovereign credit perspective.
"The most salient issue for the new government from a sovereign credit perspective seems to get growth back to higher sustainable levels, which would require a strong pick up in investments," Thomas Rookmaaker, director in the sovereign ratings group at Fitch wrote in an emailed statement.
Fitch added the investment climate can be strengthened by measures including "a clear strategy" for fiscal consolidation, creating a low inflation environment and a new push towards structural reforms, including reducing red tape and easing infrastructure bottlenecks.
(Reporting by Swati Bhat; Editing by Rafael Nam)
TOKYO Toshiba Corp's troubled U.S. nuclear unit Westinghouse intends to file for Chapter 11 protection from creditors, Japan's government said on Wednesday, as the conglomerate seeks to limit losses that have plunged it into crisis.
NEW DELHI India on Tuesday imposed a 10 percent import tax on wheat with immediate effect, government sources said, reinstating the tariff after a gap of nearly four months that saw large overseas purchases.