September 6th, 2012
04:01 PM GMT
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London (CNN) - Get used to a new acronym in the euro alphabet soup.

OMT – Outright Monetary Transactions. That's what the European Central Bank is calling its upcoming plan to buy sovereign bonds on the secondary market (the ECB is allowed to buy bonds on the open market, after they have been sold to investors by the governments).

The details are truly central bank-speak: conditionality, sterilization, enhanced conditions. Forget all that for now.

Just remember the bottom line for the ECB: Draghi said the euro is "irreversible" and that is his story and he is sticking to it. FULL POST



September 6th, 2012
01:00 PM GMT
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Kolkata, India (CNN) - It used to be the jewel in the crown of the British Empire - a beautiful colonial city in India's east.

Its strategic waterfront location made Calcutta a crucial trading hub. But in recent years, the city - left out of India's growth story - has become a shadow of its past, overtaken by business friendly cities like Mumbai and Bangalore.

Now, there is a determined effort to revive the city and make this former trading center a modern day business hub.

FULL POST

Filed under: Along the silk roadBusiness


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