Former IMF Chief Dominique Strauss-Kahn is being interrogated in a gangrape case dating back to 2010. ...
02:17 PM, May 22, 2012
Lille: French prosecutors said on Monday they had opened an inquiry into allegations of gangrape by Dominique Strauss-Kahn and three friends, as part of an investigation into his ties to a suspected prostitution ring in the northern city of Lille. The former IMF chief is under formal investigation over whether he was aware he was dealing with prostitutes and pimps when attending sex parties in Lille, Paris and Washington in...
07:38 AM, May 22, 2012
New York: Former IMF chief Dominique Strauss-Kahn has filed a $1 million counter-suit against the hotel maid who accused him of sexual assault, costing him his job and any chance of being elected president of France. New York police arrested Strauss-Kahn a year ago when hotel maid Nafissatou Diallo accused him of forcible oral sex and trying to rape her in his luxury suite at the Sofitel Hotel in Manhattan....
10:43 PM, May 15, 2012
New York: A hotel maid's sexual assault lawsuit against Dominique Strauss-Kahn can go forward to trial, a judge ruled on Tuesday, rebuffing the former International Monetary Fund leader's diplomatic-immunity claim. Bronx state Supreme Court Justice Douglas McKeon's ruling kept alive the civil case that emerged from a May 2011 hotel-room encounter that also spurred now-dismissed criminal charges against Strauss-Kahn, then a French presidential hopeful. The episode was the first in...
08:14 PM, May 01, 2012
Mumbai: India's foreign exchange (forex) reserves rose by $1.46 billion to $294.60 billion for the week ended April 20, official data showed. Forex reserves had risen by $213.8 million to $293.14 billion in the previous week. Foreign currency assets, the biggest component of the forex reserves kitty, rose by $1.45 billion to $260.21 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of...
01:57 AM, Apr 29, 2012
Washington: Even as it lowered India's growth forecast to 6.9 per cent this year from 7.1 per cent in 2011, the International Monetary Fund (IMF) on Friday said led by India and China, Asia will remain the fastest growing region in the world. In fact India's growth will rise to 7.3 per cent in 2013, with growth in Asia expected to pick up this year, after slowing in the last...
01:40 AM, Apr 28, 2012
New Delhi: Calling for renewed efforts to revive India's flagging structural reform agenda, the IMF on Friday said governance concerns have weakened business sentiment in the country. IMF's Asia-Pacific Regional Economic Outlook released on Friday pointed out that domestic factors have also played a role in India's growth slowdown over the second half of 2011. "Concerns about governance and slow project approvals by the government have weakened business sentiment, which...
07:44 PM, Apr 27, 2012
Washington: Finance Minister Pranab Mukherjee on Sunday sought to allay concerns over a slowdown in India's economic growth rate, exuding confidence that the Indian economy would ride on its strong fundamentals and resilence to take a higher growth trajectory. Mukherjee pointed out that even though the latest figures reflect that India's growth rate has come down, the country still remains the second fastest growing economy in the G-20, next only...
01:19 AM, Apr 23, 2012
Washington: Finance Minister Pranab Mukherjee expressed confidence lawmakers will approve key financial sector reforms this year, despite concerns political gridlock could delay any meaningful bills until a new government takes office in 2014. Mukherjee said in an interview on Saturday night that India's reforms are a "continuing process" which is following its natural path through different instances of government. "It is not that there is any stoppage of the reforms,"...
10:46 PM, Apr 22, 2012
Washington: Finance Minister Pranab Mukherjee said on Sunday it will be wrong to conclude that BRICS economies have set up conditions for their financial contributions to the IMF, but pointed out that a number of countries were yet to approve the quota reform being demanded by the grouping. Mukherjee said practical problems were the reason why Brazil, Russia, India, China and South Africa (BRICS) group could not announce a contribution...
10:24 PM, Apr 22, 2012
Washington: India has called for an "integrated and interconnected" response to global developments anchored by the International Monetary Fund (IMF) to effectively secure growth in an environment of global stability. "The IMF has a critical role in anchoring global coordination in order to effectively harness the positive externalities of durable global economic and financial stability," Indian Finance Minister Pranab Mukherjee told the International Monetary and Financial Committee of the global...
01:58 AM, Apr 22, 2012
Washington: The Group of 20 nations on Friday stood ready to commit at least $400 billion to bulk up the International Monetary Fund, though Brazil wants to tie the cash to a pledge that emerging market voting power at the IMF will increase. The IMF has been aiming to raise at least $ 400 billion - a doubling of its lending capacity - to ensure it has enough firepower to...
09:14 PM, Apr 20, 2012
Washington: The International Monetary Fund's bid to win a big boost in funding to handle the eurozone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash. Brazilian Finance Minister Guido Mantega laid out the terms for a deal after a meeting with fellow BRICS nations Russia, India, China and South Africa. "We...
12:37 PM, Apr 20, 2012
Washington: Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain high and the situation is very fragile, the International Monetary Fund said on Tuesday. Another flare-up of the euro-zone sovereign debt crisis or sharp escalation in oil prices on geopolitical uncertainty could disrupt a world economy finding its feet once again after market turmoil over eurozone budget deficits, the IMF...
03:48 AM, Apr 18, 2012
New Delhi: Pitching for quota and governance reforms in the International Monetary Fund (IMF), India and Britain on Monday said the funds of the multilateral lending agency should be adequately increased to help it play a meaningful role in mitigating global economic problems. "Both sides (India and the UK) are committed to ensuring that the IMF is adequately resourced to play its systemic role in the international financial system in...
01:40 AM, Apr 03, 2012
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