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Finance Ministry writes to Sebi, ‘requests’ agency to withdraw perpetual bond rule

Finance Ministry writes to Sebi, ‘requests’ agency to withdraw perpetual bond rule

Finance
The finance ministry "requested" the Securities and Exchange Board of India (Sebi) Friday to withdraw the part of its Wednesday circular that changed the rules followed by mutual funds to value perpetual bonds. The capital market regulator hadn't responded to the suggestion at press time, but is expected to review the rules before they take effect on April 1, said people with knowledge of the matter. The move by the ministry was a rare instance of such a government intervention being made public, experts said. The ministry's objection is to the rule that requires debt mutual funds to value perpetual bonds as a 100-year instrument from April 1. Fund managers too had raised concerns over this. "Considering the capital needs of banks going forward and the need to source the same from the capi...
Google threatens to withdraw search engine from Australia

Google threatens to withdraw search engine from Australia

Technology
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China defends WHO, lashes out at US move to withdraw

China defends WHO, lashes out at US move to withdraw

Health
China is defending the World Health Organization and lashing out at the U.S. decision to withdraw from the U.N. bodyByThe Associated PressJuly 8, 2020, 10:00 AM2 min readBEIJING -- China on Wednesday defended the World Health Organization and lashed out at the U.S. decision to withdraw from the U.N. body. Foreign ministry spokesperson Zhao Lijian said the move was “another demonstration of the U.S. pursuing unilateralism, withdrawing from groups and breaking contracts.” WHO is “the most authoritative and professional international institution in the field of global public health security,” Zhao said at a daily briefing. The U.S. departure from the organization “undermines the international anti-epidemic efforts, and in particular has a serious negative impact on developing countries in ...
German, American conservatives criticize plan to withdraw U.S. troops from Germany

German, American conservatives criticize plan to withdraw U.S. troops from Germany

Business
June 6 (UPI) -- Conservative German and American leaders have criticized President Donald Trump's proposed plan to remove about one-third of U.S. troops currently stationed in Germany. On Friday multiple outlets quoting an anonymous senior defense official reported that Trump has ordered the Pentagon to withdraw 9,500 of the 34,500 troops permanently assigned to Germany as part of a longstanding arrangement between the two countries. Advertisement In Germany, left-leaning politicians welcomed the proposed drawdown while conservative leaders described it as a wake-up call. "The federal government should accept it with gratitude and promptly start preparing the complete withdrawal of US soldiers with the Trump administration," said Dietmar Bartsch, leader of the parliamentary group of the l...
Yes Bank depositors rush to ATMs but most unable to withdraw cash

Yes Bank depositors rush to ATMs but most unable to withdraw cash

Finance
MUMBAI: Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well. At an ATM in south Mumbai's Horniman Circle, with the RBI headquarters overlooking it, the shutters were pulled down. The guard on duty said the machine was non-operational before he reported to work late in the evening and he was ordered to shut it after 2200 hrs. In the residential area of suburban Chembur, one ATM was dispensing cash but had a long queue of anxious dep...