Briefly Business: Tax info exchange pact with India ready,Mauritius

Mauritius on Thursday said that a new Tax Information Exchange Agreement with India has been negotiated and is ready to be signed.

Published: May 17, 2013 2:48 am

Mauritius: Mauritius on Thursday said that a new Tax Information Exchange Agreement (TIEA) with India has been negotiated and is ready to be signed. The pact would help the countries exchange information on tax matters of the entities doing business,the nation’s finance secretary Ali Mansoor said. PTI

ICICI gets CAD75 mn from its Canadian arm

Mumbai: Private sector lender ICICI Bank on Thursday said its Canadian subsidiary has repatriated Canadian dollars 75 million (about Rs 400 crore) of capital back to the parent. The move is part of the bank’s efforts to improve its return on equity by optimally using the capital and comes

within two months of its British subsidiary repatriating $100 million,the bank said. PTI

Google’s Nexus 4 quad core phone in India

New Delhi: Google has launched its high-end smartphone with Quad core processors Nexus 4 with LG in India priced at Rs 25,999. The hardware of the phone has been designed by LG and comes with wireless charging facility. PTI

OBC cuts fixed deposit rates by up to 1%

New Delhi: State-owned Oriental Bank of Commerce (OBC) on Thursday slashed fixed deposit rates by up to 1 per cent on select maturities. The announcement comes on the heels of RBI cutting key policy rate by 0.25 per cent earlier this month. The fixed deposit rate for maturities ranging from 31-45 days has come down to 6 per cent from 7 per cent. PTI

RBS to cut another 1,400 bank jobs in UK

London: Royal Bank of Scotland says it is cutting 1,400 jobs from its retail banking operations over the next two years. AP

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