Saturday, May 4, 2024

International Finance

Tag : international Finance magazine

Banking

RBI takes steps to spur bank lending

International Finance Desk
by International Finance Desk
Indian central bank’s pragmatic moves will help the new government stick to prudent fiscal management and usher in broader reforms, reports Team IFM New Delhi, June 10: India’s central bank chief Raghuram Rajan Tuesday eased credit rules and indicated he would ease monetary policy further if inflation slowed faster than anticipated, leaving interest rates unchanged...
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Fintech

$ 200 Million Credit Card Hacking Ring Busted

International Finance Desk
by International Finance Desk
U.S. and U.K law enforcement officials have arrested eleven people in the U.S. and accused of running a $ 200 million (£ 153m) global credit card fraud ring. 8th June 2013 Eleven people in Vietnam, U.K and U.S have been arrested and accused of running a $ 200 million global credit card fraud ring, law...
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Economy

Mexican factory output swells seven months running

International Finance Desk
by International Finance Desk
Increased manufacturing activity attributed to new work inflows from domestic and foreign clients, reports Team IFM Mexico City, June 7: Mexico’s factories continued to tick last month with growth of output and new orders remaining on an even keel, encouraging manufacturers to scale up both production and employment, says a recent independent survey. Selling prices...
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Banking

Bank of America’s 8.5 Billion Settlement Heads for Court Showdown

International Finance Desk
by International Finance Desk
American International Group Inc. and others have objected to this settlement, saying the settlement made to them is a fraction of the money they lost.  June 07, 2013: Court proceedings have begun on an 8.5 billion settlement between Bank of America and investors in mortgage securities that turned bad during the financial crisis in 2008. Bank...
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Banking

IMF tells France to Speed up Reforms and Contain Public Spending

International Finance Desk
by International Finance Desk
In its report on France, the fund has trimmed its forecast to see the economy contract by 0.2 percent this year from a previous – 0.1 percent.  June 07,2013: The International Monetary Fund (IMF) has advised France to focus on removing obstacles to growth, liberalize its economy and lower labor costs to get back to growth...
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Banking

Crisis hit Co-op Bank hires ‘Turnaround Specialist’ Richard Pennycook and Banker Richard Pym to Beef up Banking and Retail Sectors

International Finance Desk
by International Finance Desk
The Co-operative group has beefed up its management by recruiting the former finance director of Morrison’s and the chairman of Britain’s Nationalized Banks. June 06, 2013: The Co-operative Group has made senior personnel changes in an attempt to stabilize its troubled bank following a credit downgrade and deep concerns on its capital levels. Richard Pennycook, widely...
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Finance Wealth Management

G.E. Capital to Sell U.S. Real Estate Assets

International Finance Desk
by International Finance Desk
GE has been selling off real estate businesses, insurance operations and overseas business stakes apparently to lessen its reliance on its finance business. 5th June 2013 G.E capital will sell some of its U.S. real estate assets and its Canadian vehicle leasing business, as part of its parent General Electric’s efforts to reduce the size...
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Islamic Banking

Western governments and companies are poised to test Islamic bond markets

International Finance Desk
by International Finance Desk
The UK’s Islamic Finance Secretariat puts the value of Sharia-compliant assets globally at trillion dollars. A story surfaced in the Malaysian media last September suggesting that the ESB was planning to issue an Islamic-compliant bond, or sukuk, as part of its future funding arrangements. Sukuk are structured to pay profits or rent, rather than traditional...
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Economy

Singapore Wealth Manager in ‘Eye of Storm’ after E-mail leak by ICIJ

International Finance Desk
by International Finance Desk
The e-mail leak has landed David Chong, founder chairman of Portcullis Trustnet in troubled waters. 3rd June 2013 The International Consortium of Investigative Journalists (ICIJ) comprising of a group of investigative journalists have accused Singapore based Wealth Manager, David Chong the chairman of Portcullis Trustnet, of divulging the details of offshore companies and trusts held...
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Banking

Bank of England and HM Treasury Funding for Lending Scheme – 2013 Q1 usage and lending data

International Finance Desk
by International Finance Desk
The Bank of England has published the updated data on the use of Funding for Lending Scheme(FLS) for the quarter ending 31st March 2013.  June 03, 2013 : The Bank has today published updated data on the use of the Funding for Lending Scheme (FLS). Today’s publication shows for each group participating in the FLS...
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