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RBI seeks to stem credit/debit card fraud, makes online payments more secure In a bid to make online payments more secure and arrest credit and debit card frauds, the Reserve Bank of India (RBI) has issued guidelines that all credit/debit cards of all banks have to be registered under the 'Verified by Visa' or 'Master Card 3D-Secure' program before August 1, 2009, to enable cardholders to continue using their cards for future online transactions. IB TimesSABB Takaful to hold extraordinary general meeting to vote for rights issue SAUDI ARABIA. The meeting has been called following approval from the CMA, on 28 June 2009, of an application to increase the company's capital through a rights issue with a total value of SAR 300 million. Business Intelligence Middle EastExtra security measure in payment gateway may curb e-commerce growth The directive issued by India's apex bank to commercial banks for checking incidents of online frauds will put a brake in the growth of e-commerce in the country, industry observers said. IB TimesWhy Israel Is Nervous Tension is escalating between the U.S and Israel, as the Obama administration views the Israeli-Palestinian issue as the root of all problems, says Elliott Abrams. Wall Street JournalLegal & General`s chief executive under pressure to raise cash with a rights issue Pressure to raise cash from a rights issue is likely to intensify for Legal & General's chief executive, Tim Breedon, when the company delivers its interim results to the City on Tuesday. Big News NetworkPrasad follows cong policy Rashtriya Janata Dal chief Lalu Prasad was initially confused whether to support the prime minister on the Indo-Pak joint statement or not. A day before the Lok Sabha debate on foreign policy issues was slated to take place, Prasad consulted his colleague, Raghuvash Prasad Singh. Singh, a former rural development minister, gave a simple advice, When the Congress is not supporting its prime minister, why should we support him? Prasad paid heed to this advice and criticised the foreign policy, even though his party is an ally of the UPA. Business StandardCentral Banks' Mandates Expand to Include Asset Price Stability There was never much doubt about the underlying causes of the credit crisis. Basically, combination of low interest rates and lax regulation fueled a leveraged credit expansion, which exploded spectacularly last fall. The main issue has always been how to ensure such a crisis doesn’t ever happen again- at least not on the same scale. [...] Forex BlogTax Revenue Foregone Statement: An Interesting Study When the finance minister presents the Finance Bill, the Budget Division of the Ministry of Finance prepares several documents which are also laid before the Parliament. One such document is the Revenue Foregone Statement. It was first presented during Budget 2006-07. A second edition of the statement was presented during Budget 2007-08 as an annexure and also as a standalone document entitled Statement of Revenue Foregone. The intention behind issuing the document is perhaps to bring about transparency in matters of tax policy. A cursory glance over this years statement suggests that for corporate taxpayers, the effective tax rate is 22.24 per cent, as against the rate of 20.60 per cent clocked in during 2006-07. Sample companies with profits before taxes (PBT) of Rs 500 crore and above accounted for 54.98 per cent of the total PBT and 54.02 per cent of the total corporate income tax payable. Business StandardMold and Insurance Homeowners in Broward County, FL, complained to their insurance commissioner that mold in their homes was making them sick and their insurance agents were refusing to pay. The mold issue has been a new and increasing problem for consumers and insurance officials to agree upon. Although doctors agree some mold can be toxic, and if the problem spreads the homes can be inhabitable, insurance companies claim it is not covered. AboutMyners urges more radical bank reform LONDON (Reuters) - The government's review of banking corporate governance should be more radical over issues of pay and ownership, Treasury Minister Lord Myners said in an interview broadcast on Satu... BBC1 2 |
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