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Thursday, August 25, 2011

Business News

  • Barclays may hire 20 people for equities
  • Swiss to give banking info since April: govt
  • PM, then FM were against licence sale

Barclays may hire 20 people for equities
UK based Barclays Bank will hire about 20 people for its newly launched equities business in India over the next couple of months, three sources with direct knowledge of the matter said on Tuesday. The bank will hire staff for equities sales, research and trading jobs as part of its plan to build up its equities business, said the sources, which declined to be named as the information was not public yet. A spokesman for Barclays in India declined to comment.

Swiss to give banking info since April: govt
The government on Tuesday New Delhi: The government on Tuesday said Switzerland is “committed“ to completing the procedure for implementation of the revised tax treaty, and once it becomes operational, India would start getting banking information from 1 April 2011.
Switzerland has ... informed that they are committed to completing the remaining procedure”, minister of state for finance S.S. Palanimanickam told the Rajya Sabha in a written reply.
India and Switzerland, on August 30, 2010, signed a protocol amending the Double Taxation Avoidance Agreement (DTAA).
PM, then FM were against licence sale
Prime Minister Manmohan Singh and then finance minister P.
Chidambaram were fully in the loop on the second generation, or 2G, spectrum licence allocation and had decided along with then telecom minister A. Raja not to auction them, jailed Dravida Munnetra Kazhagam member of Parliament Kanimozhi told a Delhi court on Tuesday “I am showing you (judge) the minutes of the meeting in which the Prime Minister, the then finance minister and the telecom minister decided that the licences for the 2G spectrum was not to be sold/auctioned,“ senior advocate Sushil Kumar, appearing for Kanimozhi, told the special Central Bureau of Investigation (CBI) judge O.P. Saini.
Kanimozhi also termed her prosecution “frivolous and malicious”, accusing CBI of suppressing the fact that she was a lawmaker and sanction of the Rajya Sabha chairman was required to try her in the scam.

(Source -: mintlive.com)