Finance Minister set to make ‘major’ announcement — banks recapitalisation on cards?

Finance Minister Arun Jaitley will make a major announcement on Tuesday evening, possibly in connection with the recapitalisation plans for public sector banks, sources have told CNBC-TV18. At a press conference scheduled for 4pm, the minister is likely to decide the plan for increasing capital to the weak balance sheets of banks including United Bank of India, UCO bank, Corporation bank, Allahabad Bank, Indian Overseas Bank, and Dena Bank, among other capital starved banks as the industry suffers from a decade-low credit growth at around 6 percent. According to sources, the minister may announce recap bonds (not…

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Analysts: Militarization of South China Sea is fraught with risk of major war

Further militarization of the South China Sea, which Vietnam has now joined in thereby following in China’s footsteps, may cause skirmishes and fire exchanges, as well as internationalization of the conflict involving the United States’ Pacific Fleet, polled experts have told TASS. OPINION Reuters quotes US intelligence sources as saying Vietnam is moving its missile complexes to Spratly Islands in the South China Sea, disputed by China and three other countries. These weapons are capable of hitting China’s facilities on neighboring reefs. The Chinese Foreign Ministry has expressed a strong…

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Australia seizes meth-filled bra inserts in major drugs bust

Australian police have seized more than Aus$1 billion (US$712 million) in methamphetamine, or ice, some concealed in inserts for bras in one of the country’s biggest drug busts, authorities said on Monday. Three Hong Kongers and a Chinese national were arrested during the joint operation with China which Justice Minister Michael Keenan described as the largest seizure of liquid methamphetamine in Australian history. “This has resulted in 3.6 million individual hits of ice being taken off our streets with a street value of Aus$1.26 billion,” he said. “This largest seizure…

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The major benefits of Coconut oil

Coconut Oil is one of those magical substances that has a multitude of properties and can be found in a plethora of different forms based on the different needs of individuals. Some of the great brands that manufacture coconut oil and its supplements can be found at iherb.com. A state of the art online store for the modern day consumers who prefer to spend less time shopping and more time on other engaging tasks. An iherb code can get you a discount of upto $10 on all products at iherb.com…

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