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India encourages digital payments

India’s government will waive service tax on debit and credit card transactions of up to Rs 2,000 (28 euros) in a bid to promote digital transactions amid cash crunch following withdrawal of old Rs 500 and 1,000 banknotes. The government has decided to “exempt services by an acquiring bank to any person in relation to […]


Deutsche Bank wins FT award

Deutsche Bank won “Wealth Manager of the Year” in the Financial Times Investment and Wealth Management Awards 2016, after Financial Times and Investors Chronicle readers commended its ability to offer clients a tailored personal service along with the sophisticated range of solutions offered by the global bank. The wealth manager scored highly in a survey […]


Already wealthy gain in US

A healthy increase in home values and higher stock prices drove up U.S. household wealth in the July-September quarter, though the gains are largely concentrated among wealthier Americans. The Federal Reserve said Thursday that real estate values increased $554 billion in the third quarter, while Americans’ stock and mutual fund portfolios rose $494 billion. Total […]


UK brewery sells its gear

A 500-year-old UK brewery is selling off its vats, pumps and bottling lines at auction as its billionaire Singaporean owner prepares to turn the site into luxury flats, the UK’s Guardian reports. The Mortlake brewery in south-west London began brewing beer for the local monastery in 1487 and is thought to be among the oldest […]


China, Qatar, take major stake

A consortium including sovereign-wealth funds from China and Qatar has agreed to buy a 61% stake in the U.K.’s largest gas distributor from National Grid PLC in a deal that values the unit at £13.8 billion ($17.4 billion) including debt. The deal represents the latest large foreign investment in U.K. energy infrastructure and comes as […]


Kremlin sells Rosneft stake

Kremlin says Glencore, Qatari sovereign wealth fund acquired a 19.5-percent stake in Rosneft in $11 billion deal. The deal is part of the Russian government’s plan to privatise some state assets and help balance the budget. President Vladimir Putin described the deal as the largest in the global energy market this year. “It’s a very […]


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