Microloan demand grows in the West Bank and Gaza Strip, despite the risks
Gaza, Palestinian Territory (IRIN) – The demand for microloans has risen steeply in the West Bank and Gaza Strip in recent years, according to data from the Palestinian Network for Small and Microfinance (Sharakeh), which represents 11 microfinance non-profit institutions whose total loan portfolio was US$75 million by the end of 2011. Between 2007 and [...]
European Central Bank leaves key interest rate unchanged
Linda Young – AHN News Writer London, United Kingdom (AHN) – European Central Bank (ECB) officials left the benchmark interest rate of 1 percent unchanged. The bank has not changed the rate since November. The ECB has provided European banks with hundreds of billions of dollars worth of loan-interest loans in an effort to keep [...]
Debt crisis makes Mafia Italy’s biggest bank
Diane Alter – AHN News Reporter Rome, Italy (AHN) – Italy’s banking system has a new “boss.” Thanks to the country’s ballooning debt crisis, the Mafia is Italy’s biggest “bank,” according to a study by Confesercenti. The country’s four mafia groups have expanded from their storied strongholds in the sun-baked “Mezzogiomo” south of Rome, and [...]
Fitch downgrades Royal Bank of Scotland and Lloyds Banking Group
Linda Young – AHN News Writer London, United Kingdom (AHN) – Credit rating company Fitch has downgraded two banks in the United Kingdom. Fitch downgraded its credit ratings for Lloyds and Royal Bank of Scotland (RBS), saying that the government was unlikely to support those banks if they lapsed into financial trouble. Lloyds Banking Group [...]
China warns U.S. on managing debt
Diane Alter – AHN News Trivia Writer Hong Kong, China (AHN) – To date, China has had no problem buying United States debt, but recently, it seems they are having second thoughts. On Wednesday, China’s central bank governor called for the U.S. to “take responsible policy measures to handle its debt.” The announcement came a [...]
Rejecting IMF loan, Egypt risks undermining economy
The Media Line Staff Cairo, Egypt (TML) – Egypt’s decision to reject loans from the International Monetary Fund (IMF) and World Bank may save the government unwelcome political controversy at home, but it risks undermining the country’s already severely strained economy, economists warned. The terms of the IMF financing as well as the government’s plan [...]
S&P downgrades China’s property market rating
Linda Young – AHN News Writer Beijing, China (AHN) – Credit ratings agency Standard & Poor’s announced that it had downgraded its outlook for China’s property market to negative from stable over concerns about the government’s decision to tighten its credit policy. China’s central bank announced on Tuesday that it planned to tighten credit to [...]
Hackers hit Citigroup, gain access to data of North American credit card customers
Vittorio Hernandez – AHN News New York, NY, United States (AHN) – Citigroup admitted on Thursday that its security was breached by cyber thieves who gained access to thousands of data of the bank’s North America credit card customers. The bank disclosed that the hacking incident was discovered after routine monitoring. Citigroup said it is [...]
Inflation still hanging over China
BEIJING, June 6 (UPI) — China’s central bank, battling rising inflation in May, may raise interest rates banks must pay on deposits and also their reserve requirements, analysts said. View full post on All Stories
Greece to ask banks to boost capital ratios: report (Reuters)
Reuters – The Bank of Greece, the country’s central bank, plans to ask banks to boost their capital adequacy ratio to ease market fears over the impact of a haircut on Greek government bonds they hold, a Greek newspaper said on Sunday. View full post on All Stories
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