Banking Economy

Latest News for: Banking economy

“We want to contribute to the Greek economy’s growth” Piraeus, Enterprise Greece CEOs tell ANA

The National Herald 19 Jul 2018

ATHENS – Following the signature of a cooperation protocol between Piraeus Bank and Enterprise Greece on Wednesday, Piraeus Bank CEO Christos Megalou and Enterprise Greece CEO Elias Athanasiou underlined their determination to support export-oriented activity and growth in the Greek economy, especially the exports of Greek companies....

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India fastest growing economy in Asia; on track to meet FY18 target: ADB

Moneycontrol 19 Jul 2018

"South Asia, meanwhile, continues to be the fastest growing sub-region, led by India, whose economy is on track to meet fiscal year 2018 projected growth of 7.3 percent and further accelerating to 7.6 percent in 2019, as measures taken to strengthen the banking system and tax reform boost investment," it said ... on back of GST and banking reforms....

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India fastest growing economy in Asia; on track to meet FY18 target: ADB Report

India TV 19 Jul 2018

"South Asia, meanwhile, continues to be the fastest growing sub-region, led by India, whose economy is on track to meet the fiscal year 2018 projected ......

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Inflation is contained but rates rise unlikely, say analysts

Business Day 19 Jul 2018

South African consumer prices in 2018 climbed at the fastest pace in June after higher fuel prices stoked transport costs, limiting room for the Reserve Bank to consider cutting its benchmark rate on Thursday ... Banks were firmer, despite a slightly weaker rand. Meanwhile, retail sales have also pointed to a weaker economy, which will also discourage the Bank from embarking on interest rate hikes....

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RBI must set a new path for India’s troubled banks

Deccan Chronicle 19 Jul 2018

Forty-nine years after Indira Gandhi nationalised the  banks, life for a banker, more so in public sector banks, appears grim ... More and more loan write-offs followed, which went on to dilute the lending discipline of the banks ... The Reserve Bank would do well to appoint a high-level committee to set a new direction for Indian banking, tackling its marred image which is driving away investments even in a growing economy....

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FPCCI criticises monetary policy

The News International 19 Jul 2018

“(This) State Bank move would hit hard the overall economy as the availability of money to the business community would be more expensive now after jump in the discount rate,” the FPCCI senior VP said in a statement.The FPCCI official argued that the upward revision in lending rate would translate in multiplying high inflation and ......

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Georgia Credit Unions Reaching More People, Lending More Money

The Maryville Daily Times 19 Jul 2018

"Credit union loan growth illustrates the positive impact credit unions continue to have in stimulating the economy and helping people afford life.". Credit unions have outpaced banks in loan growth in each of the last 12 years. When the financial crisis of 2008 hit banks hard - and the rate of bank lending decreased by double digits the following year – loans were up by almost 7 percent at credit unions....

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Asian shares extend gains on upbeat US earnings

Business Day 19 Jul 2018

In his two-day congressional testimony, Powell said he believed the US was on course for years more of steady growth, and played down the risks to the US economy of an escalating trade conflict. However, in the Fed’s Beige Book released on Wednesday, manufacturers in every one of the central bank’s 12 districts expressed concern about the effect of tariffs, even as the US economy continued to expand at a moderate to modest pace....

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Asian shares rise on U.S. earnings but trade worries...

This is Money 19 Jul 2018

economy was healthy, even though he warned that rising world protectionism would over time pose a risk to the global economic expansion ... "Market players are looking at both the onshore and offshore exchange rate to determine whether or not the People's Bank of China is intentionally allowing a weaker yuan," said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank ... economy of an escalating trade conflict....

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Saudi Aramco in talks for stake in world’s no. 4 chemical firm

Arabnews 19 Jul 2018

Reuters reported on Wednesday that Saudi Aramco had invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp, citing two sources with direct knowledge of the matter ... The Aramco IPO is the centrepiece of an ambitious plan championed by Crown Prince Mohammed bin Salman to diversify Saudi Arabia's economy beyond oil ... Business & Economy Tags....

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Morgan Stanley beats estimates on higher trading revenue

Arabnews 19 Jul 2018

Morgan Stanley reported a better-than-expected quarterly profit on Wednesday, driven by gains in its fixed income and equities trading businesses, rounding up a strong earnings season for US banks. JPMorgan Chase & Co, Bank of America Corp, Goldman Sachs Group Inc, Morgan Stanley and Citigroup Inc ... Chief Executive Officer James Gorman said the bank had seen strength across all its businesses and geographies ... Business & Economy Tags....

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Fed walks careful line on trade, but downside risks emerging

Moneycontrol 19 Jul 2018

That view has become broadly shared at the central bank even if it has yet to hit the Fed's top line policy documents ... Reports from the Fed's 12 regional banks showed businesses buoyed by a strong economy, but almost uniformly worried about trade policies that were raising prices of inputs and clouding an otherwise optimistic horizon....

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Sliding external sector

Dawn 19 Jul 2018

A FULLER picture of where exactly the economy is headed is now appearing as the central bank appears to be released from the political constraints it was under in the period before the arrival of an interim government, and facts on the ground drive a necessary adjustment that can no longer be explained away ... This means the economy is burning something like $1.45bn of foreign exchange reserves every month....

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