BRICS Bank to Complement, Not Compete with ADB: India
The mooted BRICS bank of emerging powers is intended to complement, rather than compete with Western-dominated institutions on the world stage, the Indian Finance Minister said Monday. Finance Minister P. Chidambaram also said India supports Japan’s nomination of a senior finance ministry official for the top job at the Asian Development Bank (ADB), as Tokyo...
India Unexpectedly Holds Rate as Inflation Curbs Easing
India unexpectedly left interest rates unchanged as the fastest inflation among the biggest emerging markets narrows scope to bolster a struggling economy. Governor Duvvuri Subbarao left the benchmark repurchase rate at 8 per cent, the Reserve Bank of India said in a statement Monday. Only four of 25 economists in a Bloomberg News survey predicted...
