Business Briefs: SBI: High bad debts temporary

SBI: High bad debts temporary

NEW DELHI: Attributing rising bad debts to economic slowdown, State Bank of India (SBI) has said high Non-Performing Assets (NPAs) are 'temporary'. "NPAs continue to be a challenge. But I don't want to put a number to it," SBI Managing Director Diwakar Gupta said on the sidelines of the Delhi Economics Conclave.

Naina Lal Kidwai as Ficci president

NEW DELHI:Country Head of HSBC India Naina Lal Kidwai today took over as president of Ficci. "Kidwai, 55, is the first woman and professional manager to be elected as president of the chamber," Ficci said in a statement. Kidwai succeeds RV Kanoria of Kanoria Chemicals & Industries Ltd.

'Orissa loss in port projects at R160 cr'

Bhubaneswar: The Comptroller and Auditor General of India (CAG) has pointed out that the state lost Rs 159.96 crore because of lacunae in resources and revenue sharing arrangement of port projects in PPP mode.

China lets foreign sovereigns exceed $1 bn investment limit

SHANGHAI: China's foreign exchange regulator has removed the $1 billion limit for foreign sovereign wealth funds, central banks and monetary authorities buying Chinese assets through the QFII. The new regulations, published on the

website of the State Administration of Foreign Exchange, did not specify a new top limit.

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