Maldives Economy Slowing, Hit by Falling Tourist Arrivals
An IMF mission led by Koshy Mathai visited Male 30 October-12 November for discussions on the 2012 Article IV Consultation, the IMF's regular exchange of economic views with member countries. The team...
View ArticleFitch Affirms Abu Dhabi Islamic Bank's Ratings
Fitch Ratings has affirmed Abu Dhabi Islamic Bank's (ADIB) Long-term Issuer Default Rating (IDR) at 'A+' with a Stable Outlook and Viability Rating (VR) at 'bb'. ADIB's IDRs are driven by potential...
View ArticleNew Frontiers and Long-Term Themes
Europe at loggerheads again, G7 markets in slow decline; long-term themes are dominating attention; infrastructure for BRICs offers plenty of opportunities; small countries next to big ones are the...
View ArticleMali Economy Still Recovering from March Coup
A mission from the International Monetary Fund (IMF), led by Christian Josz, visited Bamako from 1-14 November and reached preliminary agreement on providing support to Mali under the Rapid Credit...
View ArticleNiger Economic Prospects 'Remain Promising' -- IMF
A mission of the International Monetary Fund (IMF) visited Niamey 4-12 November for discussions with the authorities of Niger on the first review of the economic programme supported by the IMF under...
View ArticleFitch Affirms National Bank of Oman at 'BBB+'; Outlook Stable
Fitch Ratings has affirmed National Bank of Oman's (NBO) Long-term Issuer Default Rating (IDR) at 'BBB+' with a Stable Outlook and Viability Rating (VR) at 'bb NBO's IDRs, Support Rating and Support...
View ArticleHousing Bank Joins EBRD
Jordan's Housing Bank For Trade & Finance announced that it has joined the EBRD's Trade Facilitation Programme (TFP) In a move that is expected to boost levels of international trade by Jordanian...
View ArticleLebanon's GDP Set to Grow 2%
Central Bank Governor Riad Salameh projected a 2 per cent growth in Lebanon's GDP by the end of this year "Lebanon is capable of achieving a 2 percent growth in 2012 despite all the difficulties,"...
View ArticleUAE Domestic Credit Jumps in September
UAE domestic credit rose by almost AED 13 billion, showing its largest monthly rise since 2008. Total bank loans and advances (net of provisions and interest in suspense) increased by 1.2 per cent to...
View ArticleSaudi Arabia Needs SAR 500 Billion in Financing for Housing Projects by 2020
Saudi Arabia is facing a huge housing shortage as demand continues to outstrip supply requiring SAR 500 billion in financing to construct 1.25 million houses by 2014. Total real estate financing is...
View ArticleNBAD Gets Visa to US Markets
Visa has partnered with the National Bank of Abu Dhabi (NBAD) to make it easier for UAE shoppers to shop online at US merchants and have their purchases delivered right at their doorstep NBAD is the...
View ArticleLebanon Launches Debt Swap Offer
Lebanon is reportedly offering some of its bond holders the chance to exchange debt for new, longer-dated bonds. "The purpose of the exchange offer is to proactively conduct liability management...
View ArticleCapitol Bancorp's Bankruptcy Plan Faces Ticking Clock
Byline: Robert Barba Capitol Bancorp (CBCRQ) has skillfully avoided collapse for several years, but the next few weeks could provide the biggest tests to its survival. The Lansing, Mich., company's...
View ArticleFHA's Projected Losses Hit $16.3 Billion
Byline: Kate Berry The Federal Housing Administration may need a bailout from taxpayers for the first time in its 78-year history after racking up $16.3 billion in projected losses at the end of...
View ArticleWordPress Lets Bloggers Pay with Bitcoin, Citing Open Access
Byline: Brian Browdie, Marc Hochstein The world's most popular web publishing platform has begun accepting Bitcoin, an international digital currency and payment system with no central issuing...
View ArticleWhat Eminem and a Bank Have in Common
Byline: Mary Wisniewski Even a bank can inspire a rap song and some dance moves. About two months ago, Texas-based First Victoria National Bank started to film its branch customers who expressed...
View ArticleBuffett Increases Stakes in BNY Mellon, Wells; Cuts Holdings in USBank, Visa
Byline: Andy Peters Billionaire investor Warren Buffett's Berkshire Hathaway (BRK/A) added to its holdings of Wells Fargo (WFC) during the third quarter, fortifying its position as San Francisco...
View ArticleNew York AG Slams Wells Fargo on Sandy-Related Loan Mod Delays
Byline: Jeff Horwitz New York's Attorney General has issued a letter demanding that Wells Fargo (WFC) resume processing mortgage modification requests for borrowers in states hit by Hurricane Sandy....
View ArticleFour Ways for Congress to Pass a TAG Extension
Byline: Joe Adler WASHINGTON a With a month and a half left in 2012, the window is closing for lawmakers to extend the Federal Deposit Insurance Corp.'s unlimited coverage of noninterest-bearing...
View ArticleBanks Square off against CFPB Official over 'Regulatory Olympics'
Byline: Maria Aspan The Consumer Financial Protection Bureau's examination process, enforcement actions and remittance rule all came under heavy fire on Friday as banking industry representatives...
View Article