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BEIJING (Reuters): Beijing is eager to rewrite negative perceptions of its growing ties with Africa at a summit this week, citing expanding private investment and a push to shift low-end manufacturing to the continent long seen as a commodities and energy cache for China. Chinese state-owned firms in Africa face criticism for using imported labour ...
- China strengthens Africa ties with $ 20 b in loans (Category: Business)
- South African to host 2013 IATA AGM (Category: Business)
- China, India score with untied aid (Category: Business)
- ‘China yuan could challenge dollar role in a decade’ (Category: Business)
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search
- HNB launches Al-Najah Islamic banking unit (Category: Business)
- Islamic finance: Challenges and opportunities (Category: Business)
- Islamic banking and finance advisory services to assist financial institutions (Category: Business)
Scheme aims to boost bank lending to households and firms UK banks can access initial 80 bln stg cheaply from BoE Banks face higher fees from BoE if they do not raise lending Economists and BoE cautious about likely impact LONDON (Reuters): Britain gave details on Friday of its new scheme to keep banks to ...
- Commissioners, BOE see brief meetings (Category: USA, South Dakota)
- Commissioners, BOE see brief meetings (Category: USA, South Dakota)
- Commissioners, BOE see brief meetings (Category: USA, South Dakota)
- Commissioners, BOE see brief meetings (Category: USA, South Dakota)
REUTERS: Little more than a dozen years after the region’s crippling financial crisis, Southeast Asia is looking more a safe haven than a risky bet, with foreign investors souring on China and India and pouring money into markets proving resilient to the global gloom. Short-term investors
- ASEAN path to economic union muddied by South China Sea (Category: Business)
- Asian shares rally, euro up on US jobs (Category: Business)
- Dollar debt set to remain sparse and steep in Asia (Category: Business)
- Economists rethink Asia’s doom-and-gloom scenarios (Category: Business)
REUTERS: As China slips, the second-half performance for many emerging market mutual funds might soon follow. In recent months, investors have been pulling hundreds of millions of dollars out of stock funds that invest mainly in companies associated with the big four emerging market nations of Brazil, Russia, India and China. But it’s China that ...
- Poor returns cast cloud over BRIC equity funds (Category: Business)
- Asian funds revisit 2008 as third quarter market slump bites (Category: Business)
- Growth disappointments drag India funds down in November (Category: Business)
- Developed or developing? Try merging markets (Category: Business)
LONDON, (Reuters): Barclays Plc chairman Marcus Agius quit on Monday, saying “the buck stops with me” after an interest rate rigging scandal that has dealt “a devastating blow” to the bank’s reputation. Agius, chairman of Britain’s third biggest bank for 5-1/2 years, is the first major scalp from the scandal, which is likely to draw ...
- After Chairman, Barclays CEO Bob Diamond quits (Category: Business)
- UK lawmakers say Libor case shows Barclays flawed (Category: Business)
- UK fraud buster mulls charges in Libor scandal (Category: Business)
- HSBC faces US compliance issues, Libor scrutiny (Category: Business)
Reuters: Persistent fears about the euro zone’s future and an increasingly subdued global economy will restrain further advances for the world’s major stock markets, according to Reuters polls of analysts, who slashed their forecasts. Equity strategists were badly wrong-footed by last year’s disastrous showing for global stocks. Analysts overestimated gains in all but one of ...
- Recovery next year for world stocks after dire 2011 – poll (Category: Business)
- Asian shares rise; oil spikes on Iran tension (Category: Business)
- Anxious global investors look for calm (Category: Business)
China demand for coal, iron ore expected to drive market Average capesize earnings to rise to $12,400 in H2 Panamax earnings seen increasing to $11,000 SINGAPORE (Reuters): The Baltic Exchange’s Dry Index, an indicator of global economic activity, will rebound by 35 percent in the second half of 2012 versus the last six months on ...
- Baltic index rallies, capes at near 9-month high (Category: Business)
- China Aug trade surplus dips, exports off peak (Category: Business)
- Australia trade deficit widens on falling exports, worse to come (Category: Business)
- Commodities Boom (Category: Business)
Reuters: JPMorgan Chase & Co’s (JPM.N) losses from disastrous derivatives trades will likely amount to $4 billion to $6 billion in the second quarter, far more than the original estimate of at least $2 billion, according to a person familiar with the matter. The bank has gotten out of more than half of the position, ...
- JPMorgan CIO retires, Obama says proves reform case (Category: Business)
- JPMorgan has trading loss of at least $2 b, reputation hit (Category: Business)
- Obama has assets in JPMorgan accounts: White House (Category: Business)
- Obama pledges tough enforcement of Wall Street reforms (Category: Business)
Request to present a public petition before the Committee on Public Petitions Following is the text of an open letter sent by good governance activist Chandra Jayaratne to the Leaders of Peoples Alliance Parliamentary Group, United National Party Parliamentary Group, Tamil National Alliance Parliamentary Group, Janatha Vimuthi Peramuna Parliamentary Group, Democratic National Alliance Parliamentar...
- Public views sought for National Educational Bill (Category: Breaking News)
- India calls on TNA to find solution through Select Committee (Category: Breaking News)
- Ex-COPE chief denies he was behind prorogation of Parliament (Category: Breaking News)
- COPE Lists Over 200 Public Entities (Category: Breaking News)
SINGAPORE (Reuters): Asian shares fell on Monday and the safe-haven dollar rose as concerns about faltering global growth and Europe’s intractable debt crisis continued to sap investor confidence, but commodities steadied after a pummeling last week. The euro also fell, despite moves late last week to ease funding strains on the euro zone banking system, ...
- Euro hits decade low vs yen, remains vulnerable (Category: Business)
- Euro zone recession may have already started: PMIs (Category: Business)
- Shares, euro dip on Europe; French bond auction eyed (Category: Business)
- Asia shares fall to 2012 lows as Europe worries weigh (Category: Business)
The Financial Times and IFC, a member of the World Bank Group, have named Standard Chartered the 2012 Sustainable Global Bank of the Year as part of the 7th annual FT/IFC Sustainable Finance Awards. The awards highlight leaders in environmentally and socially responsible banking and investment around the world. The Sustainable Global Bank of the ...
- Standard Chartered releases first Sustainable Finance Impact Report (Category: Breaking News)
- Standard Chartered releases first Sustainable Finance Impact Report (Category: Breaking News)
- Standard Chartered releases first Sustainable Finance Impact Report (Category: Breaking News)
Reuters: Loose global monetary conditions are stoking credit and asset price booms in some emerging markets that could lead to a new financial crisis, the Bank for International Settlements warned on Sunday. Such a boom-and-bust cycle might have severe global repercussions, not least due
- Bubble Fears (Category: Business)
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- Rebalancing (Category: Business)
- Islamic markets seen leading global trade volumes (Category: Business)
LONDON (Reuters): Banks are in danger of a “vicious cycle” from the need to pledge more of their best quality assets as protection to central banks and other creditors, which could hinder the banking system’s ability to absorb shocks. The trend, known as “asset encumbrance”, has taken hold over several years and stems from a ...
- US to move $3.5bn in Afghan assets to Swiss-based trust (Category: Breaking News)
- Regulators close four more US banks (Category: Business)
- ‘Nominations’ in bank accounts: Think before you ink! (Category: Business)
- India finds balance in NPLs recovery and borrower rights (Category: Business)
Reuters: Weakening business activity worldwide is hitting U.S. companies where it hurts, with more of them signaling disappointing results than at any time over the past decade. Many bellwether companies, including two Dow components, have come out in recent days with profit warnings, and the slowing in Europe has been cited as a major factor ...
- Companies plan for two-speed Europe (Category: Business)
- Europe’s debt crisis to shake corporate America (Category: Business)
- Maersk raises 2012 outlook on freight rate recovery (Category: Business)
- Smartphones drive record Samsung profit; capex raised to $ 22 b (Category: Business)
WEALTH inequality has grown, despite an environment of world economic challenges placing more emphasis on local millionaires to solve global problems. In latest reports, faster-growing Asia for the first time had more millionaires than North America, putting the issue of vast income gaps in the region in the spotlight. A new report has said that ...
- Asia, not North America, now has most millionaires (Category: Business)
- Singapore overtakes Hong Kong as home to Asia’s wealthy (Category: Business)
- Asia to add 1.66 m millionaires by 2015 – report (Category: Business)
- Global wealth to grow 50% to $345 trillion in 5 years: Credit Suisse (Category: Business)
Reuters: Weakening economies that roiled markets last year also took their toll on the world’s rich, though faster-growing Asia for the first time had more millionaires than North America, according to a study released on Tuesday. A new report said the global personal wealth of people with $1 million and more to invest fell in ...
- Values vs. wealth (Category: Business)
- Singapore overtakes Hong Kong as home to Asia’s wealthy (Category: Business)
- Asia to add 1.66 m millionaires by 2015 – report (Category: Business)
- Global wealth to grow 50% to $345 trillion in 5 years: Credit Suisse (Category: Business)
The Central Bank of Sri Lanka notes with grave concern, a statement by Standard and Poor’s, issued yesterday, on the Sri Lankan Banking System and wishes to state that the statement is factually incorrect, illogically analysed, and is highly contradictory. 1. Soundness of the Banking System Quite contrary to the rationale for the statement, Sri ...
- S&P fires warning on Sri Lankan banking system; ranked along with Nigeria (Category: Business)
- Understanding Standard & Poor’s BICRA Assessment Of Sri Lanka (Category: Business)
- Sri Lankan Banking Industry face ‘economic & Industry’ risk – S&P (Category: Breaking News)
- S&P’s soother! (Category: Business)
Speaking at a forum organised by KPMG in Sri Lanka for chief financial officers and chief risk officers of banking institutions, KPMG India’s Partner and Head of the Financial Risk Management (FRM) practice, Rohit Bammi emphasised that local banks have the opportunity to further enhance their risk management functions. In his opening remarks, Rohit discussed ...
- Nirmal appointed to Watawala Plantations Board (Category: Business)
- David Roden on banking sector risk management (Category: Business)
- ACCA Global Forum calls for more Governments to focus on small biz (Category: Business)
The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants
- New instrument for financing Sri Lankan development (Category: Business)
- Sri Lanka received highest remittances from Kuwait, UAE and Qatar in 3Q2023 (Category: Breaking News)
- Current phase of global recovery and implications for Sri Lanka (Category: Business)
- IMF says fragmentation could cost global economy up to 7% of GDP (Category: Breaking News)
Reuters: Banks need a radical overhaul to boost profitability against the backdrop of tougher new rules and a grim economy – and they expect their customers to share some of the pain. That is the view of bankers, investors and regulators meeting in Copenhagen this week to assess how banks need to adapt to meet ...
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- Government happy with plantation, more support projects on the way (Category: Business)
- Caught in Greek shadow, Europe’s banks bolster capital (Category: Business)
- Banks approve $ 3.5 b loan restructure for Air India (Category: Business)
Risk management in financial services has gained core attention in the aftermath of the global financial crisis. The entire economic landscape of the international financial market changed during this period Central Bank Deputy Governor, Ananda Silva said.
- Adelaide Zoo needs new cash cow (Category: South Australia)
- One maths formula and the financial crash (Category: Technology)
- Social Security Won't Lose Its Funding, But Future Retirees Still Have Cause for Concern (Category: USA, South Dakota)
- Social Security Won't Lose Its Funding, But Future Retirees Still Have Cause for Concern (Category: USA, South Dakota)
BEIJING (Reuters): Fresh fears over the global economy could unravel the benefit of cheaper oil prices and keep a lid on financial forecasts for the airline industry when its chiefs gather in China for their annual summit. An eight percent drop in oil prices this year has delivered a quick fix to an industry severely ...
- Mobius bets on further oil price increases (Category: Business)
- Global shipping downturn worse than 2008-China (Category: Business)
- Aviation industry leaders to meet in Beijing on Monday (Category: Business)
- Freight rate price war not an option: Maersk CEO (Category: Business)
Aviation Industry Leaders Gather In Beijing The 68th International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit will open in Beijing, China tomorrow, June 11. The event will bring together some 650 leaders of the global aviation industry for two days of intense discussions on the industry’s most important issues. ...
- Aviation industry leaders to meet in Beijing on Monday (Category: Business)
- South African to host 2013 IATA AGM (Category: Business)
- Sri Lanka to host IATA’s Global Aviation Human Capital Summit in Nov. (Category: Business)
- IATA milestones in three initiatives: DDS, Distribution and Industry Awards (Category: Business)
Reuters: Commodities from oil to copper and Asian shares tumbled on Friday, while risk aversion lifted the dollar, after Federal Reserve Chairman Ben Bernanke disappointed investors looking for a clear signal of further U.S. monetary stimulus. The reaction to Bernanke’s congressional testimony, which left uncertainty over the Fed’s policy decision at its June 19-20 meeting, ...
- Asian markets dampened by Bernanke, factory data in focus (Category: Business)
- Bernanke defends low rate policy for weak economy (Category: Business)
- Global stocks fall on U.S. growth worries; euro stumbles (Category: Business)
- Asian markets cheered by Fed rate outlook (Category: Business)
Reuters: Global cheers over China’s decision to cut interest rates faded quickly on Friday as investors and economists worried that the move signalled the impending release of some grim economic data. China’s surprise rate cut unveiled late on Thursday boosted hopes that cheaper credit would help combat its faltering economic growth and it encouraged global ...
- China swings to surprise trade surplus in March (Category: Business)
- Thai Q4 GDP slumps due to floods; seen improving in 2012 (Category: Business)
- Central Bank seen holding rates, SRR steady (Category: Business)
- CB says 2012 trade gap to narrow by 10% (Category: Business)
The International Air Transport Association (IATA) yesterday announced that the 68th IATA Annual General Meeting (AGM) and World Air Transport Summit will open in Beijing, China on Monday 11 June 2012. The event will bring together some 650 leaders of the global aviation industry for two days of intense discussions on the industry’s most important ...
- South African to host 2013 IATA AGM (Category: Business)
- Sri Lanka to host IATA’s Global Aviation Human Capital Summit in Nov. (Category: Business)
- IATA milestones in three initiatives: DDS, Distribution and Industry Awards (Category: Business)
- Airlines face sting in the tail from cheaper oil (Category: Business)
Reuters: Lloyd Blankfein, the chief executive of Goldman Sachs Group Inc, told jurors at the insider-trading trial of one of the investment bank’s former directors that “all parts” of a 2008 board meeting the two attended were confidential. “If something is discussed in a board meeting, it is confidential,” Blankfein said, when asked about a ...
- Rajat Gupta helped promote Rajaratnam funds, says trial witness (Category: Business)
- Ex-Goldman director Gupta charged in insider case (Category: Business)
- Email, wiretaps at trial link Rajat to Rajaratnam (Category: Business)
Reuters: To convict former Goldman Sachs Group Inc (Board Member Rajat Gupta of insider trading, prosecutors must convince the jury he benefited from his relationship with Raj Rajaratnam, the now-imprisoned hedge fund manager he is accused of tipping. On Thursday, the prosecution put on the witness stand a former marketing manager at Rajaratnam’s Galleon Group ...
- Ex-Goldman director Gupta charged in insider case (Category: Business)
- Goldman CEO testifies at Rajat Gupta insider trial (Category: Business)
- Email, wiretaps at trial link Rajat to Rajaratnam (Category: Business)
- Rajat Gupta loses wiretap ruling, wins on SEC notes (Category: Business)
BRUSSELS, May 31 (Reuters) – The European Central Bank stepped up pressure on Thursday for a joint fund to guarantee bank deposits in the euro zone, saying Europe needed new tools to fight bank runs as the bloc’s debt crisis drives investors to flee risk. The European Commission’s top economic official, Olli Rehn, warned the ...
- Regulator warns banking union could split Europe (Category: Business)
- World stocks off early highs ahead of US jobs (Category: Business)
- Global shares, commodities retreat on Greek uncertainty (Category: Business)
- Ceylon Income Fund is top performer in 2011 (Category: Business)
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