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Nationalization may produce other effects, such as reducing competition in the marketplace, which in turn reduces incentives to innovation and maintains high prices. In the short run, nationalization can provide a larger revenue stream for government but may cause that industry to falter depending on the motivations of the nationalizing party. [9]
1948 The government attempted to nationalize the banking industry, but the act was declared unconstitutional by the High Court of Australia in the case Bank of New South Wales v Commonwealth. [3] 2023 The Government of the Australian Capital Territory nationalised Calvary Hospital, Canberra.
At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. [32] Indira Gandhi, the then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled Stray thoughts on Bank ...
Several major news organizations are reporting that about ten of the 19 banks that have gone through government "stress tests" will have to raise capital. Most analysts already believe that ...
The total GDP per capita stood between 8.4% (in the 1970s) and 8.3% (in 1993–96), periods of nationalisation.. The nationalisation process in Pakistan [1] (or historically simply regarded as the "Nationalisation in Pakistan") was a policy measure programme in the economic history of Pakistan that negatively impacted the country's industrialization and undermined the trust of businessmen and ...
Stocks capped a brutal week with another trading session dominated by dismal performances by General Electric (GE), banks and energy companies. The Dow Jones industrial average closed at 7,366 ...
The new bank, India International Bank , commenced operations in 2012 in Kuala Lumpur, which has a large population of Indians. Andhra Bank holds a 25% stake in the joint-venture, Bank of Baroda owns 40%, and IOB the remaining 35%. IOB opened an Offshore Banking Unit in Colombo, Sri Lanka, on 31 August 2013. The bank also upgraded its existing ...
The beginnings of the banking industry can be traced to 1780 when the Bank of Pennsylvania was founded to fund the American Revolutionary War. After merchants in the Thirteen Colonies needed a currency as a medium of exchange, the Bank of North America was opened to facilitate more advanced financial transactions.