Definition
Zone
Dodd-Frank Financial Regulatory Reform Bill
It is a piece of
legislation that increased government oversight of trading in complex financial
instruments such as derivatives. The Dodd-Frank Financial Regulatory Reform
Bill was named after Senator Christopher J. Dodd and U.S. Representative Barney
Frank. It restricts the types of proprietary trading activities that financial
institutions will be allowed to practice. The Dodd-Frank Financial Regulatory
Reform Bill was passed with the intent of preventing the collapse of major
financial institutions such as Lehman Brothers from happening again.
Read more: http://www.investopedia.com/terms/d/dodd-frank-financial-regulatory-reform-bill.asp#axzz26dCR3uIE
The
best of Economics, Finance and Politics
Sebi implements measures to revive MF industry
Money
Control, September 13, 2012
Market regulator Sebi today announced implementation of a number
of steps for the benefit of mutual fund industry, including an additional levy on
investors for catering to smaller cities and availing the services of a whole
new class of persons as distributors. Among the measures are:
·
MFs can charge up to
30 percentage points of additional TER (Total Expense Ratio)
·
MFs are allowed to
charge service tax on investment and advisory fees to the scheme
·
Allowed cash
transactions of up to Rs 20,000 per investor in a mutual fund every year.
·
For harmonizing the
applicability of NAV across schemes, in respect of purchase of units of MF
schemes, the closing NAV of the day on which the funds are available for
utilization shall be applicable for application amount equal to or more than
two lakh, irrespective of the time of receipt of such application.
Source: http://www.moneycontrol.com/news/mf-news/sebi-implements-measures-to-revive-mf-industry_757554.html
Batting for $100-billion BPO industry: India links free trade
agreement with EU to data-secure tag
Economic Times, India
September 10, 2012
India has said that
its ambitious free
trade agreement with the
European Union can be sealed only when the 27-member union recognizes it as a
data-secure destination, which is vital for attracting sophisticated outsourcing
business, pegged to be $100 billion outsourcing industry.
India is among
countries not considered data secure by the EU which obstructs flow of
sensitive data, such as intellectual property or patient information for
telemedicine, to India under data protection laws in the EU.
The EU law mandates
that European countries doing outsourcing business with countries that are not
certified as data secure have to follow stringent contractual obligations which
increases operating costs and affects competitiveness.
Although India had
initially rejected the EU's demand of carrying out a study on India's data
security laws to ensure that all sensitive information of potential clients
would be safe against theft and misuse, it finally relented.
Infosys acquired Switzerland based firm Lodestone
Business Line, India
September 6, 2012
Infosys, one of the
largest software companies of India, acquired Switzerland based global
management consultancy firm Lodestone on 10 September 2012 with an enterprise
value of $350 million.
It is the largest
acquisition by Infosys till date. By the end of October Lodestone will operate
as a subsidiary named ‘Infosys Lodestone’ in Europe.
Lodestone is a key
player in the SAP domain and has in-depth experience of transformational
change.
Lodestone is headquartered in Zurich, and the key role of the company is to advise international companies on strategy and process optimization, and to provide business transformation solutions enabled by SAP's enterprise solutions. Lodestone currently employs about 850 employees, most of whom are SAP professionals.
Lodestone is headquartered in Zurich, and the key role of the company is to advise international companies on strategy and process optimization, and to provide business transformation solutions enabled by SAP's enterprise solutions. Lodestone currently employs about 850 employees, most of whom are SAP professionals.
Source: http://www.thehindubusinessline.com/industry-and-economy/info-tech/article3882245.ece?homepage=true
India, Myanmar and Thailand decided to implement Trilateral
Connectivity Project by 2016
India, Myanmar and
Thailand on 10 September 2012 reviewed the eagerly awaited trilateral
connectivity project and decided to make all efforts to implement this by
2016. This was done at the meeting of the India-Myanmar-Thailand Joint
Task Force, which met in New Delhi.
It was also agreed
during the meeting that steps be initiated to address issues related to harmonization
of customs and immigration procedures at border check-posts to enable seamless
movement of goods and people to realize the full potential of the trilateral
highway.
News
at Glance
·
Proposal for 51
percent FDI in multi-brand retail and 49 percent in Aviation passed
·
Rashtriya
Aarogya Nidhi Scheme was launched in Arunachal Pradesh
·
The
Islamabad Women’s Chamber of Commerce and Industry and the PHDCCI signed MoU
·
NIIT
and Microsoft came together for Cloud Training
·
EGoM
cut down the loan interest rate to 7 percent in the drought affected areas
Know
your Recruiter: Royal Bank of Scotland
The Royal Bank of Scotland plc is one of the retail banking
subsidiaries of the The Royal Bank of
Scotland Group plc, and
together with NatWest and Ulster Bank, provides branch banking facilities
throughout the British Isles.
The Royal Bank of Scotland has around 700 branches, mainly in
Scotland though there are branches in many larger towns and cities throughout
England and Wales.
Other facts you should
know
- It's
84% owned by the UK Government.
- It's one of 3 Scottish banks that issue their own banknotes. It is the only bank still to issue £1 notes.
- It owns Coutts, which is a prestigious bank the Queen uses.
- It also owns the Churchill insurance brand.
- It's one of 3 Scottish banks that issue their own banknotes. It is the only bank still to issue £1 notes.
- It owns Coutts, which is a prestigious bank the Queen uses.
- It also owns the Churchill insurance brand.
Key Business Services:
·
Finance and insurance
·
Consumer
Banking
·
Corporate
Banking
Strong balance sheet
metrics
·
Customer deposits
£435bn
·
Group loan to deposit
ratio: 104% (92% in Core divisions)
·
Liquidity portfolio:
£156bn
·
Group Core tier 1
capital ratio: 11.1%
·
Total funded assets
£929bn.
Try and analyze it!!!
Sunday
Reads
RBS launches forced stock market sale of Direct Line
Read More: http://www.thenews.com.pk/Todays-News-3-132140-RBS-launches-forced-stock-market-sale-of-Direct-Line
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