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| Bomb Iran? |
 OK, Mr President, here's the
plan. Sometime in the next
few months you order the
Department of Defense to
destroy Iran's nuclear capacity.
Yes, I know it's an election year,
and some
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| IS US ECONOMY
HEALING? |
 HOW goes the state of the
union? Well, the state of
the economy remains terrible.
Three years after
President Obama's inauguration
and two and a half years
since the official end of the recession
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 | RBI cuts CRR by 50 bps THE Reserve Bank of India in its
quarterly review meet on
Tuesday cut the cash reserve
ratio (CRR) by 50 bps to ease
tight liquidity pressure in the
banking system. RBI kept repo
and reverse repo rates
unchanged at 8.5 percent and
7.5 percent respectively, despite
...
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| | Sale may stop if bids
are too low: Hakan |  THE sale of Denizbank, the
Turkish unit of troubled
Franco-Belgian banks Dexia,
should be concluded by the end
of February, its chief executive
said on Tuesday, but warned
the sale process could be
stopped if bids were deemed
too low.
"If received bids aren´t
favoured, a sale may not take
place. Ultimately, this is Dexia´s
decision," Hakan Ates,
Denizbank´s CEO said ahead of
a press conference.
No one at Dexia, the Belgian-
French lender that is being broken
up and nationalised, was
immediately available for comment.
Earlier this month, HSBC
Holdings pulled out of the bidding,
according to a person
familiar with the matter, leaving
Qatar ... |
| | Banks call time on Petroplus´
$1.75bn debt; 2000 may lose jobs |  SWISS-BASED oil refiner
Petroplus is filing for insolvency,
putting over 2,000 jobs
across Europe at risk, after
banks called in debts, triggering
a $1.75 billion default.
Europe´s largest independent
refiner by capacity has
been teetering since its
lenders restricted credit late
last year, a victim of thin
refining margins and high
debt that was a result of its
private equity-backed, acquisition-
based business model.
In an email to customers
seen by Reuters on Tuesday,
Petroplus said it has halted all
supplies from its Coryton refinery
in southern England.
However, a spokesman for
the Department of Energy and
Climate Change said the
Coryton refinery remains ... |
| | Japan faces first trade
deficit in 3 decades |
 JAPANprobably produced its
first trade deficit last year in
more than three decades as
energy imports surged to
cover for the loss of nuclear
power following the
Fukushima disaster, a major
blow to an economy built on
its exports prowess.
For decades Japan used an
exports-orientated economic
policy to build up global
brand names such as Toyota,
Sony and Canon and a manufacturing
might that was the
envy of the world.
Official trade figures due for
release on Wednesday are
expected to show that Japan
swung to a deficit for the first
time since 1980, as utilities
purchased fossil fuels for
power stations to make up for
the loss of nuclear power
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