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Swiss Bank UBS Fined $1.5 Billion for Interest Rate Manipulation

Posted December 19th, 2012 at 12:15 pm (UTC-5)
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Switzerland’s giant UBS bank is paying $1.5 billion in fines to international regulators after admitting its fraudulent role in rigging a key global interest rate for loans. UBS agreed Wednesday to pay the fines to U.S., British and Swiss authorities, along with pleading guilty to a fraud charge in the United States. Last June, American […]

Tags: , , , Posted in Economy

India Again Raises Interest Rate to Combat Rising Inflation

Posted July 26th, 2011 at 10:00 am (UTC-5)
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India’s central bank has again raised its key interest rate in an effort to temper the country’s high inflation. The Reserve Bank of India on Tuesday increased the repurchase, or repo rate, by half a percentage point to 8 percent. The repo rate is the rate at which it lends to commercial banks. RBI head […]

Tags: , , , , Posted in Economy, South Asia

India Again Raises Interest Rate to Combat Rising Inflation

Posted July 26th, 2011 at 3:25 am (UTC-5)
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India’s central bank has again raised its key interest rate in an effort to temper the country’s high inflation. The Reserve Bank of India on Tuesday increased the repurchase, or repo rate, by 50 basis points to 8 percent. The repo rate is the rate at which it lends to commercial banks. It also raised […]

Tags: , , Posted in South Asia

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