Morgan Stanley to reduce about 1600 jobs worldwide

Note: This section contains information in English only.
Source: Bloomberg
Morgan Stanley, sixth-largest US financial institution, whose stocks experienced 45% drop this year is going to cut around 1,600 jobs worldwide as revenue in investment banking decreases sharply. Job cuts are planned to take place during the 1st quarter of 2012, said Mark Lake, a representative of company. The estimate equals around 2.6% job reduction of 62,648 workers.

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Fri, 16 Dec 2011 09:31:46 GMT

India maintains its key interest rate

The Reserve Bank of India announced it would maintain the key interest rates at the same level and would devote its strategies towards sustainable growth. The lending rate stayed at 8.50% while borrowing rate at 7.50%. The bank cited worsening economic outlook and outlined that it now put all its efforts in boosting economy rather than combating exorbitant inflation.

Fri, 16 Dec 2011 09:59:42 GMT

India leaves key interest rates unchanged

The Reserve Bank of India decided to leave its key borrowing rate unchanged, the first time in 8 meetings as both inflation and growth slows down. The central bank of India left benchmark interest rate untouched at 8.5% meeting predictions made earlier by economists. India rupee appreciated 2.7% against US dollar on the RBI announcement. 

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