Three US federal agencies and two associations have initiated a pilot project to conduct targeted consumer-protection compliance reviews of selected non-depository lenders with significant subprime mortgage operations.
Continue Reading Add comment July 19th, 2007
The American Federal Deposit Insurance Corporation (FDIC) and NeighbourWorks Centre for Foreclosure Solutions, a housing services company, have joined hands to promote foreclosure-prevention strategies.
Continue Reading Add comment July 19th, 2007
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
Continue Reading Add comment July 18th, 2007
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.
Continue Reading Add comment July 18th, 2007
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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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’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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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 is seeking fresh investment in telecommunication sector, and has recently launched international tender for licence class Public
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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.
Continue Reading Add comment July 18th, 2007
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