WASHINGTON - The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as "significant" in a show of confidence in the economy's prospects.
MUMBAI - The government bonds hit a 13-month high Thursday on hopes recent government reforms and likely rate cuts by the Reserve Bank of India (RBI) would help offset any impact of an earlier-than-expected increase in U.S. interest rates.
WASHINGTON - A smaller trade deficit and a surge in defense spending buoyed U.S. economic growth in the third quarter, but other details of Thursday's report hinted at some loss of momentum in activity.
NEW DELHI - The government has raised the price it will pay to buy new-season wheat from local farmers by 3.57 percent to 1,450 rupees per 100 kg, encouraging the crop even though supply has exceeded demand for eight years.
BERLIN - Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany's finance minister said heralded the end of tax evasion via secret bank accounts.
HONG KONG/SHANGHAI - China's five biggest banks reported sharply rising bad loans for the third quarter as the economy slows, with one adding that a credit crunch squeezing small companies in the country's export-oriented eastern provinces may be spreading westwards.
BEIJING - China can cut its economic growth target to 7 percent next year without hurting its labour market, the World Bank said on Wednesday even as it urged Beijing to get rid of rigid growth objectives.
NEW DELHI - India decided late Monday to draw up a new process to appoint top officials at state-run banks, as part of its efforts to fix a distressed banking system that is hampering the economy's recovery from its longest slowdown in years.
LONDON - Europe's banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 companies would have failed if new capital rules were fully applied.
NEW DELHI - India's universal health plan that aims to offer guaranteed benefits to a sixth of the world's population will cost an estimated 1.6 trillion rupees ($26 billion) over the next four years, a senior health ministry official said.