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Pak army chief fails to meet Saudi crown prince

It seems Saudi Arabia is in no mood to mend ties with Pakistan whose Army Chief General Qamar Javed Bajwa who flew in to Riyadh to placate an angry Saudi leadership failed to secure a meeting with......

Why govt is demanding $2.81 bn from RIL, BP

The government has slapped a $2.81 billion (about Rs 24,500 crore) demand notice on Reliance Industries and its partners, including BP Plc for gains made from producing and selling natural gas that......

Best new summer fiction -- Libor

The interest rate that Libor sets is a piece of fiction written by participating banks to suit their purpose, writes Ajit Balakrishnan Last week, I was in New York City and sylvan nearby towns such......

Banks in a fix over NRE-Libor linkage

The linking of non-resident external rupee deposit rate to the London inter-bank offer rate has put the banking sector in a quandary even though some banks have already cut rates.The fluctuations......

NRE deposit rate set at 1% over Libor

The Reserve Bank of India on Monday further tightened the interest rate on repatriable non-resident external rupee (NRE) deposits. The move will put rupee (NRE) and dollar (FCNR-B) deposits on a......

Bank rate-rigging was pretty big business

When traders got caught fiddling Libor, their employers blamed a few bad apples. Singapore has found 133 people at 20 banks trying to rig three rates. That sounds more like a rotten barrel. The......

Czech Republic rout Germany to reach Euro 2008

Czech Republic secured a place at Euro 2008 when they thumped already-qualified Germany 3-0 in Group D on Wednesday. Libor Sionko gave the Czechs a perfect start when he tapped the opening goal......

EPL: Chelsea go top, Southampton end Liverpool's dream start

Chelsea put a miserable week behind them to return to the Premier League summit with a 2-0 win over Fulham as the wheels came off Liverpool's bright start in a 1-0 home defeat to Southampton on......

Late penalty saves Mourinho's Chelsea home record

Eden Hazard scored from the spot in stoppage time to salvage a 2-2 draw for Chelsea against West Bromwich Albion, who were seconds away from inflicting a first Premier League home defeat on a......

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