New Delhi, Feb 13: Emerging economies such as India, which are expanding rapidly, are not insulated from the impact of a slowdown in the US and will feel the pinch “sooner or later”, said Dominique S. Kahn, managing director of the International Monetary Fund. Kahn, who is on a three-day visit to India, also underlined the need for a global solution to the problem of financial crisis, which could have a ripple effect on several economies.
Calcutta, Feb. 13: The United Bank of India has cut interest rates on personal loans by 75 basis points and on housing loans by 50 basis points. Axis Bank has reduced the benchmark prime lending rate by 0.25 per cent to 14.75 per cent.
Mumbai, Feb. 13: Tata Capital has picked up stake in Bangalore-based cargo airline, Quickjet Cargo, a joint venture between Mumbai-based AFL Logistics and Singapore-based Cardinal Aviation Partners.
Paris, Feb. 13: The world oil market could be set for a lengthy slowdown, the International Energy Agency said today, signalling a sharp shift in the climate that pushed the oil price to $100 per barrel last month.
Barcelona, Feb. 13: The Indian government today said its policy for 3G telephony was likely to be finalised by August this year.
