Navigation Links
Strained Economic Agreement Between Singapore And India

According to the Business India the Reserve Bank of India (RBI) is not allowing Temasek Holdings to raise its stake in India's ICICI bank and the State Bank of India (SBI) // facing difficulties in obtaining qualifying full bank status in the city-state.

The Comprehensive Economic Cooperation Agreement (CECA) that was signed between India and Singapore appears to have some problems. The Monetary Authority of Singapore (MAS), or central bank, has taken up with RBI the issue of Temasek, the government's investment arm, being prohibited from hiking its stake during a recent equity-raising exercise by the Indian bank.

"As part of a cordial and professional dialogue with RBI on various issues, MAS has written to the Indian regulator," MAS managing director Heng Swee Keat was quoted as saying. "RBI assured us that it would look into the issue.”Indian regulators have taken the position that both Temasek and the Government of Singapore Investment Corporation (GIC) are owned by the Singapore government, and their combined stake in ICICI would cross the 10 percent limit allowed to any one party in a private bank, the newspaper said.

“GIC and Temasek are separate entities, each with the right to invest up to 10 percent," said an MAS spokesperson. The agreement, which provides for greater access by each country's banks to the other country's financial sector, took effect last August. The problems were detailed as the dust was still to settle on Temasek's purchase of a major stake in Thai telecommunications giant Shin Corp.

Opponents of caretaker Thai Prime Minister Thaksin Shinawatra, who announced his resignation Tuesday, were incensed over his family's sale in January of its controlling stake in telecommunications giant Shin Corp. to Temasek.The tax-free sale amounted to $1.9 billion. The transaction triggered two months of mass protests demanding Thaksin's resignation for selling off national assets. The sale outraged many Thais w ho accused Thaksin of selling off sensitive state concessions to a foreign entity. Shin Corp operates several lucrative government-granted concessions including the country's largest mobile phone system and the nation's satellite network.


'"/>




Related medicine news :

1. Effective And Economical Agent For Anthrax
2. Economic and Ethical disparities hinder cervical cancer screening
3. Study Finds Low Socio-Economic Status Linked to Poor Dental Health
4. A Bird-Flu Pandemic Is Detrimental To Global Economic Growth: Report
5. Cost-Benefit Economics of Methadone for prisoners
6. Less Invasive By Pass Surgery Proves Economical In The Long Run
7. Indias Economic Boom Pack To Waste Children Life
8. Tobacco Consumption By Youths Will Hamper India’s Economic Growt
9. China to Face Huge Economic Losses Due to AIDS in the Coming Years
10. HIV Epidemic Can Slow Down Economic Growth: UNDP
11. Access Economics Report: Alarming Rise in Dementia
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:1/15/2019)... Fla. (PRWEB) , ... January 15, 2019 , ... Celebrating ... institution unveiled its first mascot – the Pumas – to almost 2,000 employees and ... 1994 as Ultimate Learning Center, Inc. At that time, UMA was a single campus ...
(Date:1/14/2019)... ... January 15, 2019 , ... Early bird pricing for Medical ... Risk management is just plain hard, complicated, conflicted, confusing. And it is getting even ... process are not intended as “major”, the new standard adds new definitions, changes the ...
(Date:1/14/2019)... ... ... Kaveh Kanani D.D.S . is the head of Around the Corner Dental Health Spa, ... has recently unveiled an inventive method of inserting dental implants. , The goal of ... an extended period of time, the jawbone that used to hold the root of the ...
(Date:1/13/2019)... , ... January 13, 2019 , ... Dr. Christine Kaczmar, ... her book, "Gut Check: How The Broken Medical Model Is Creating More Sickness And ... the biggest obstacles impeding our health...Symptoms. Dr. Christine explains that judging our health ...
(Date:1/11/2019)... ... January 11, 2019 , ... ... endometriosis to remove inflammatory endometriosis tissue, relieve pain, and help restore fertility. , ... In more common cases, tissue typically grows on the ovaries, fallopian tubes, and ...
Breaking Medicine News(10 mins):
(Date:1/10/2019)... GILBERT, Ariz. (PRWEB) , ... January 10, 2019 ... ... health and wellness company providing nutrition and lifestyle solutions, will crown the U.S. ... latest Judging Period’s 15 finalists include: Andrea Carrara of Palm Beach, Florida; Barbara ...
(Date:1/8/2019)... ... January 08, 2019 , ... University Hospitals ... UroLift® Center of Excellence. The designation recognizes that Dr. Jaeger has achieved a ... commitment to exemplary care for men suffering from symptoms associated with benign prostatic ...
(Date:1/8/2019)... , ... January 08, 2019 , ... Date aired: August ... and dry eye result from excessive evaporation of the tear film, which is naturally ... society in general. , So says water researcher Sharon Kleyne, host of the internationally ...
Breaking Medicine Technology: