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SBI Funds, a leading fund house of the country, has finally launched SBI Gold Exchange Traded Scheme (SBI GETS) in the Indian market.
The investment objective of the fund is to seek and provide returns that closely correspond to returns provided by price of gold through investment in physical Gold.
According to official release, the scheme will [...]

Washington – President Barack Obama’s economic team sought to ease fears that US banks are on the verge of either collapse or nationalization amid reports Monday that the government is considering a large ownership stake in Citigroup Inc.
The Treasury, Federal Reserve and other government finance agencies issued a rare joint statement assuring investors that the [...]

Kolkata, Feb 23 (PTI) After the Trinamool Congress slammed External Affairs minister Pranab Mukherjee for his ‘bonhomie’ with CPI-M, Congress today asked the party to desist from making such comments when an anti-Left alliance was needed. Describing TC leader Partha Chatterjee’s statement yesterday as ‘unfortunate and undesirable’, state Congress spokesman Subhankar Sarkar told reporters here [...]

he chairman of Satyam Computer Services resigned on Wednesday, saying profits had been inflated over the last several years.
Following is the text of his letter, which was released by the Bombay Stock Exchange.
Note: references using Indian numerical system of crores and lakhs have been converted to Western system.
————————————————————-
To the Board of Directors
Satyam Computer Services Ltd.
From [...]

New Delhi – Indian stock markets ended the day higher on Monday, with the benchmark Sensex gaining over 3 per cent on its previous close.
The 30-share sensitive Sensex index of the Bombay Stock Exchange gained 283.03 or 3.04 per cent to finish the day’s trading at 9,583.89.
The broader 50-share Nifty of the National Stock Exchange [...]

Johannesburg – South African President Kgalema Motlanthe warned Friday that the global financial crisis posed a serious threat to jobs in Africa’s largest economy, where manufacturing and mining have shed thousands of jobs in recent months.
Delivering the president’s annual State of the Nation speech at the opening of parliament in Cape Town, Motlanthe warned South [...]

Stockholm – Swedish banking group SEB on Thursday said fourth-quarter 2008 operating profit declined 12 per cent year-on-year to 4 billion kronor (481 million dollars).
The bank, one of four major groups in Sweden, also said it was to make a 15-billion-kronor rights issue.
Operating income in the quarter increased 27 per cent year-on-year to 12.7 billion [...]

Washington – The US Treasury Department on Tuesday unveiled new rules that will govern its efforts to stabilize the crumbling US financial sector, including clamping down on lobbyists’ influence and prioritizing bank lending to the wider economy.
The announcement offered some fresh indications of how President Barack Obama’s administration will manage the 700-billion-dollar financial rescue [...]

Warsaw – Polish member of parliament Janusz Palikot resigned Tuesday as head of the Friendly State commission after insulting a former opposition minister, local media reported.
His party had recommended that Palikot be taken off the commission after he accused Grazyna Gesicka of “prostitution” over the former minister’s alleged poor management of European Union funds for [...]

London, Jan 9 (ANI): Troubled football star Paul Gascoigne has saved himself from bankruptcy by selling two holiday homes.
Gascoigne was due to be declared bankrupt at a hearing in London over an unpaid 200,000 pounds tax bill, but managed to pay off the debt by selling two properties he owned in Spain and Bulgaria.
“He is [...]

Washington, Jan 9 (ANI): American country music singer Merle Haggard is suing an environmental awareness group for using his name and image illegally to solicit money.
The suit was filed on January 8 against Nashville, Tennessee environment advocates the Green Train, and the papers claimed that the group forged his signature and exaggerated his involvement in [...]

Chennai, Jan 9 (ANI): Union Minister of State for Industries Ashwani Kumar has said that India is still a good growth story, as its economic fundamentals are strong.
Addressing the session ”Building Bridges: Trade and Investment” at the Pravasi Bharatiya Divas 2009 here, Dr Ashwani said: “A GDP growth of 6.5 per cent is expected, even [...]

Washington, Jan 8 (ANI): A woman from California has found a novel way of raising the morale of troops, and also funds for U.S. military hospitals with her third annual “Pin-Ups For Vets” calendar.
Gina Elise, 26, herself poses for the calendars, wearing costumes that were popular among America’’s fighting men in the 1940s, with profits [...]

Abohar Jan.7 (ANI): Even since the partition of the sub-continent and the migration of a large number of Punjabi refugees from Pakistan to India, the Punjabi language and cuisine has become popular all over the country. The All India Radio and Doordarshan beam Punjabi programmes in many of their broadcasts and telecasts.
But the Punjabi [...]

Taipei – Taiwan, aiming at advancing to the top eight in the 2009 World Baseball Classic, on Monday announced the preliminary selection of players for the tournament.
The Chinese-Taipei Professional Baseball League announced the names of 48 players, including 11 who are playing for US teams and six playing for Japanese teams.
Wang Chien-ming, the Taiwan pitcher [...]

New York – US carmakers ended 2008 with further year-on-year declines in December and the lowest yearly sales figures in 15 years.
About 13 million vehicles were sold in 2008 in the United States, down from more than 16 million in 2007, with the steepest drops in sales coming in the last months of the year.
Analysts [...]

Madrid – Twelve African immigrants living in precarious conditions in Spain have posed nude for a calendar the sales of which will help them survive for a while, the daily El Pais reported Monday.
The men from Mali, Togo, Senegal and Mauritania appear in discreet pictures taken by Valencia photographer Adolfo Lopez in the calendar unofficially [...]

Melbourne, January 3 (ANI): Sydney Cricket Ground witnessed Glenn McGrath’s seven-year-old daughter, Holly, take the seat of her late mother, who passed away suffering from breast cancer six months ago.

Jane McGrath, who was known for her tremendous efforts as a cancer support campaigner, lost her battle with the deadly disease on June 22, 2008, [...]

Vienna – Vienna-based Bank Medici AG is set to come under state control, as the bank was exposed to funds of the failed US investor Madoff, Austrian news agency APA reported Friday.
Financial authorities put together an order under which the small bank will be managed by a government commissioner, APA reported.
While the small bank said [...]

New Delhi, Jan 2 (ANI): The Union Cabinet today gave its approval for establishment of the Indian Grape Processing Board (IGPB) at Pune.
The total funds allocated by the Government over a period of three years for the establishment of the IGPB are Rs. 5.93 crore.
The Ministry under the Societies Registration Act, 1860, will register the [...]