Archive for July 18th, 2007

Long-term strategy needed to deal with FX settlement risks; CPSS

The financial services industry has made significant progress in dealing with foreign exchange settlement risk. However, more can and should be done to tackle remaining exposures and to guard against the risk of reversing the progress that has already been achieved

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Consumers’ value overdraft protection & penalty fees are avoidable; ABA tells congress

For consumers who inadvertently overdraw their deposit accounts, overdraft protection is a valued service and penalty fees are avoidable, the American Bankers Association (ABA) informed Congress.

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CARICOM envisions Single Economy operational by 2015

The twenty-eighth meeting of the Conference of Heads of Government of Caribbean Community Communiqué (CARICOM), held in Barbados, has mandated Strategic Development Plan (SDP) towards achievement of Single Economy, expected to be operational by 2015.

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China’s half-year FDI at $ 31.8bn

Altogether 18,683 foreign-founded ventures were approved and established in China during first of half of the current financial year, demonstrating a 12.17 % increase but in actual utilization 5.4 % down year-on-year basis.

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Barbados economy likely to reap benefits of CWC to grow at 4.5 % this year

Barbados’s real GDP is expected to grow at between 4 and 4.5 per cent in 2007 as compared to 3.6 per cent the country achieved in 2006 - led for yet another year by the service industry.

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Bahrain processing more int’l applications for Takaful and Re Takaful.

The Central Bank of Bahrain (CBB) is weighing a number of applications from international insurance groups for Takaful and Re Takaful (Islamic insurance and reinsurance) business in the country, according to Ahmed Al Bassam, the Director Licensing and Policy at CBB.

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Bermuda seeks investment in telecom sector

Bermuda is seeking fresh investment in telecommunication sector, and has recently launched international tender for licence class Public

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China gets 17.5mn in technical aid from Germany

Germany has agreed to provide China with technical aid worth 17.5 million euro, to be applied to the bilateral cooperation in finance, energy and economic structural reform.

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ECCB and BVI International Club on path to investor education

The Eastern Caribbean Central Bank (ECCB) has joined the British Virgin Islands (BVI) International Club to follow an investor education programme -“A Path Towards Wealth Creation”

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Aruba hits high note on tourism, commits $ 350mn for the sector

Aruba has continued with its $ 350 million in investments in the tourism sector which include the completion of remarkable hotel and resort renovations, the opening of the first-ever Fixed Based Operation (FBO) terminal for private jets.

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