More than half of Indias external debt was then denominated in dollars; if the trend stands, one can only shudder to imagine in the light of the steep fall of the rupee what that window of opportunity Chidambaram wishes to open wider will bring in. Chasing Windmills So, why is the Finance Minister, certainly one of the more perspicacious of Indias policymakers, opening the panes to more pain? In part, it is to divert a perceived demand for capital from a stressed-out domestic banking system and obdurately high interest rates to a more generous global market and to create the right mood for more global capital to flow in, courtesy existing FDI norms diluted recently. But in wishing for a positive effect on a dispirited economy, the policymaker takes for granted the rest of the environment for investments. He assumes all is hunky-dory, that mechanisms exist to ensure money does not pour into the hungry maw of avarice and sloth.
Marissa Mayer, Please Don’t Screw Up Yahoo! Finance
The Rev. Sean Gardner, pastor at East Ward Missionary Baptist Church off of E. 103 St., collected about $27,000. Santos has about $26,000. Despite her deep pockets, Mark-Viverito gave the board a 25-page packet detailing why she needed the taxpayer cash and focused her plea around opponent Ralina Cardonas little known endorsement.
Japan finance minister doubts effectiveness of a corporate tax cut
Yahoo! already provides the weather data for Apple, as well as stocks, and a redesigned mobile app for Yahoo! Finance would go a long way towards building out Yahoo!’s mobile presence and making Yahoo!’s properties “daily habits,” as Mayer has put it. Nobody likes change, especially when it comes to their favorite things. I know mobile Yahoo!
Councilwoman Melissa Mark-Viverito lands bonanza payout from city Campaign Finance board
There are concerns the two-stage hike from next April could stifle the economy just as it is picking up, and there have been calls for offsetting measures such as a cut in corporate taxes. “Given that only some 30 percent of firms pay corporate taxes, I don’t think lowering corporate tax rates would have an immediate impact,” Finance Minister Taro Aso told a news conference after a cabinet meeting on Thursday. There were reports this week that Abe was considering a corporate tax cut as a trade-off to ensure support for the sales tax increase. Aso, who is also deputy prime minister, said tax breaks to encourage capital spending could be considered and the government might look at other steps if the sales tax is raised. Chief Cabinet Secretary Yoshihide Suga said Abe would consult experts and the business sector before making any decision on corporate tax cuts.