NEW DELHI - LONG-TERM interest rates in India are unlikely to come down drastically as the economy needs to raise its savings rate to sustain a growth rate of 8 per cent, a designated deputy governor of the central bank said.
LECCE - UNCERTAIN prospects for a global economic recovery gripped talks between G8 finance ministers on Saturday in Italy as rifts emerged on testing the stability of Europe's crisis-hit banks.
TOKYO - JAPAN plans to impose a total ban on exports to North Korea as part of its new economic sanctions against Pyongyang following last month's nuclear test, news reports said on Saturday.
The move comes after the United Nations Security Council voted unanimously Friday to slap tougher sanctions on North Korea to cripple its nuclear and ballistic missile programmes.
LECCE (Italy) - SHAKY prospects for a global economic recovery was set to dominate talks between G8 finance ministers on Saturday in Italy as rifts emerged on testing the stability of Europe's crisis-hit banking system.
'We shouldn't get carried away with the recovery while we're still relaunching, stimulating and ensuring that our recovery plans work,' Finance Minister Christine Lagarde told reporters Friday on the sidelines of the talks.
