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Paul Volcker was a great economist but his greatest lesson wasn’t on economics, it was on being a public servant
World

Paul Volcker was a great economist but his greatest lesson wasn’t on economics, it was on being a public servant

Regardless of what those answers turn out to be, the life of Paul Volcker offers guidance about the values they might want to embrace in seeking them.

Gold trading near one-week high, silver firm; weak US inflation data prompts Fed rate cut bets
Business

Gold trading near one-week high, silver firm; weak US inflation data prompts Fed rate cut bets

Lower interest rates in the US put pressure on the dollar and bond yields, making greenback-denominated gold less expensive for holders of other currencies.

Rupee suffers 43-paise knock, posts life-time low of 69.05 against strong dollar; local issues spark jitters among investors
Business

Rupee suffers 43-paise knock, posts life-time low of 69.05 against strong dollar; local issues spark jitters among investors

This is the biggest single-day fall in the rupee since 29 May and goes hand in hand with a stronger US dollar

Arun Jaitley needs to consider all sides of the story before dismissing cryptocurrencies in India
News & Analysis

Arun Jaitley needs to consider all sides of the story before dismissing cryptocurrencies in India

It is important to highlight the importance of decentralisation in the world of blockchain and how cryptocurrencies are a result of that.

SWIFT official reveals that hackers continue to target its bank messaging system
News & Analysis

SWIFT official reveals that hackers continue to target its bank messaging system

SWIFT, a Belgium-based co-operative owned by its user banks, has declined comment on the case, saying it does not discuss individual entities.

Kaspersky releases more evidence that North Korea was linked to Bangladesh SWIFT hack
News & Analysis

Kaspersky releases more evidence that North Korea was linked to Bangladesh SWIFT hack

Cyber security firm Kaspersky Lab on Monday said it had obtained digital evidence that bolsters suspicions by some researchers that North Korea was involved in last year's $81 million cyber heist.

Philippines bank RCBC says that it did nothing wrong, Bangladesh Bank responsible for the cyber heist
News & Analysis

Philippines bank RCBC says that it did nothing wrong, Bangladesh Bank responsible for the cyber heist

The Philippines bank through which $81 million stolen from Bangladesh's central bank was channelled in February said on Tuesday that the central bank was responsible for the heist, and so any liability should not be passed on.

Bangladesh central bank working to recover &100 mn from US account
World

Bangladesh central bank working to recover &100 mn from US account

The Bangladesh central bank says it is working to recover some $100 million it lost from an account at the Federal Reserve Bank of New York.

How deflation can spoil the global stock market rally
Investing

How deflation can spoil the global stock market rally

Once countries get into what is known as a deflationary spiral, it is very difficult for them to get out. Japan is an excellent example of the same. The country has been trying to come out of a low inflation/deflation kind of scenario for close to two decades now, without much success.<br /><br />

Obama looking for new Fed chief? Says Bernanke stayed longer than planned
World

Obama looking for new Fed chief? Says Bernanke stayed longer than planned

Expanding on Obama's remarks, a White House official said Obama's remarks were reflecting his admiration for the length and depth of Bernanke's commitment to serve as Fed chair in a difficult period and at a significant personal sacrifice.<br /><br />

Another man with links to NY bomb plot arrested
World

Another man with links to NY bomb plot arrested

US authorities said a man arrested in San Diego on child pornography charges was linked to plot by a Bangladeshi man to set off a bomb at the Federal Reserve Bank of New York.