Economy

The rise and fall of the WTO

The rise and fall of the WTO

C. Rammanohar Reddy Less than 25 years after the World Trade Organisation (WTO) was created, its future as a body overseeing multilateral trade rules is in doubt. The failure of the recent ministerial meeting at Buenos Aires is only symptomatic of a decline in its importance. Too ambitious? When the WTO was born in 1995, […]

Bank employees threaten strike against FRDI Bill

Bank employees threaten strike against FRDI Bill

Opposing the Financial Resolution and Deposit Insurance (FRDI) Bill, the All India Bank Employees Association (AIBEA) has said it is planning a strike if the Centre proceeds on the proposed legislation. In a statement issued late on Monday, the AIBEA said: “The bill has created widespread fear, apprehension and panic amongst the depositors that the […]

Why is everyone scared of the Financial Resolution and Deposit Insurance Bill?

Why is everyone scared of the Financial Resolution and Deposit Insurance Bill?

The Centre’s proposed Financial Resolution and Deposit Insurance Bill (FRDI) has launched a big scare among people as it purportedly allows failing banks to use depositors money to cut losses. An online petition by one Shilpa Shree at Change.org, titled ‘Do not use innocent depositors’ money to bail in mismanaged banks #NoBailIn’, has been signed […]

Muslims care more about halal food than halal income: Malaysian deputy minister

Muslims care more about halal food than halal income: Malaysian deputy minister

Malaysian Datuk Dr Asyraf Wajdi Dusuki lamented recently that Muslims care more about the halal status of their food, compared to the status of their source of income. The deputy minister in charge of Islamic affairs said the public perceives Islam as only related to worship, while the issue of halal and haram — what is permissible […]

Apple’s cash reserves swell to $250bn, greater than the combined foreign reserves of the British government and Bank of England

Apple’s cash reserves swell to $250bn, greater than the combined foreign reserves of the British government and Bank of England

Apple’s cash pile has swelled to over $250bn (£194bn), a sum greater than the combined foreign reserves of the British government and Bank of England. The technology giant will reveal on Tuesday that its reserves have been boosted once again after making a quarterly profit of over $10bn. Its holdings have more than doubled in […]

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