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As per the report submitted by Ernst and Young total number of fraud cases during the FY 2011-12 stood at 204 involving an amount of Rs. 6,600 crore for the financial services sector. The exposure of banking sector in this regard stood at Rs. 3,505.50 crore. However, as per Reserve Bank of India’s record the incidents …
The Securities and Exchange Board of India (SEBI) has revised the norms for calculating the margins for Exchange Traded Funds. In order to bring efficiency in margining of index Exchange Traded Funds (ETFs) and facilitate efficient use of margin capital by market participants, SEBI vide its circular CIR/MRD/DP/26/2012 dated September 26, 2012 reviewed the margining …
BHP Billiton chairman Jac Nasser says he does not expect any significant increase in iron ore prices soon, following a year of heavy falls in Australia’s biggest export earner.He also told shareholders at the company’s annual general meeting in Sydney that China’s growth rate would not continue at the same pace, but that was expected.A …
India has the highest number of fraud-hit companies after Africa, according to a report by global advisory firm Kroll. Fraud risks in India remain above the global average and, outside Africa (77 per cent), the country has seen the highest number of companies affected by frauds at 68 per cent, followed by China and Indonesia …
The finance ministry is considering a proposal to raise excise duty and service tax by two per cent to 14 per cent each in the Union Budget for 2013-14. The move is likely to help the ministry collect about Rs 30,000 crore. Certain exemptions may also be rolled back. “It is being debated whether both …
Indian households have piled up as much as 20,000 tonnes of gold, worth $1.16 trillion, an historic high. This shows that the government’s efforts to trim overseas purchases of the idle asset by imposing an import duty and raising it in short intervals to reduce the current account deficit (CAD) haven’t yielded the desired results. …
The mine operator CUDECO is banking on innovative allmineral technology for processing their native copper. As of mid 2013, the Chinese state company SINOSTEEL will bring into operation ten jigging machines type alljig® for treatment of various particle sizes as an integral part of their ambitious »Rocklands Group Copper Project«. allmineral’s technology, already operated worldwide …
Team Stainless welcomes the International Manganese Institute (IMnI) to their cooperation between the associations of the stainless steel and alloying element industries. The IMnI provides vision and guidance to the manganese industry by promoting economic, social and environmental responsibility and sustainability for all stakeholders. More information can be found on their website (http://www.manganese.org/). The Team …
The Bank for International Settlements (BIS), the European Central Bank (ECB) and the International Monetary Fund (IMF) today jointly released the third and final part of the Handbook on Securities Statistics, which covers equity securities issues and holdings. The aim of the Handbook is to assist national and international agencies in the production of relevant, coherent and internationally …
ThyssenKrupp Steel Europe and Solliance are counting on a highly promising form of power generation: organic photovoltaics (OPV). OPVs are flexible solar cells made of light-active plastics and can be manufactured by cost-effective processes suitable for large-scale production. They may be less efficient than previous rigid solar cells based on silicon but they offer the …