Bank pay too high, says RBS boss

Qatar Foundation Endowment (QFE) will acquire 5% of the major Indian telecom Bharti Airtel for Rs 6,800 crore or $1.26 billion. The Chairman of Royal Bank of Scotland, Sir Philip Hampton announced that the bank will be able to return to the private sector after it buys back its shares from the government. Today the Reserve Bank of India decreased its key interest rate by only 0.25% to 7.25%. The new Nokia Lumia 521 will be sold as a budget phone.