MOSCOW (Reuters) - Russia said on Thursday its currency crisis was over even though its forex reserves have plunged and annual inflation has climbed above 10 percent, adding to the problems facing the government as it fights its worst economic crisis ...
Russia's international reserves plunged the most in six years, losing $15.7 billion last week as the government and central bank pledged measures to support banks and defend the currency.
Reliance Capital CEO Sam Ghosh says he is interested in only a universal banking licence and that the partnership with Sumitomo Mitsui Trust Bank will continue irrespective of whether the company gets a licence or not.
Although in the short run inflation is low because of dropping crude oil prices, in the long run it will boost inflation because of more corporate profits and higher wages, he argued.
Aircraft carrier, USS Ranger, which featured in the movie 'Top Gun', will be dismantled for single penny in Brownsville, Texas.