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Moody’s Cuts Credit Rating of Five Dutch Banks

Posted June 15th, 2012 at 3:30 am (UTC-5)
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Moody’s Investor’s Service says it has cut the credit ratings of five Dutch banks and that the difficult conditions for banks in the Netherlands are likely to continue throughout the year and possibly longer. The ratings service said in a statement that the affected banks include ING and ABN AMRO, whose ratings were cut by […]

Tags: , , Posted in Economy, Europe

Report: Somalia Has Not Accounted For Majority of Funds

Posted May 31st, 2012 at 3:20 pm (UTC-5)
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A World Bank report says the Somali government has not accounted for most of the revenues and donations it received in 2009 and 2010. The report, released this week, says World Bank auditors found that Somalia’s Transitional Federal Government received far more money than it has said. In an interview with VOA , the report’s […]

Tags: , , Posted in Africa

Obama Reauthorizes Ex-Im Bank, Calls for More Action From Congress

Posted May 30th, 2012 at 1:15 pm (UTC-5)
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U.S. President Barack Obama has praised Congress for passing legislation reauthorizing the Export-Import Bank, and called on lawmakers to take action on a number of other domestic priorities. In Washington Wednesday, Mr. Obama signed the reauthorization of the Export-Import Bank, saying American businesses and workers benefit from the bank. “By reauthorizing support for the Export-Import […]

Tags: , , , , Posted in US

A Look at the US Export-Import Bank

Posted May 30th, 2012 at 1:10 pm (UTC-5)
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The Export-Import Bank of the United States provides loans and credit to help American companies sell goods and services overseas. The bank was established in 1934 during the Great Depression as a way to increase trade and boost the economy. Initially, it was designed to finance exports to the Soviet Union, and eventually expanded to […]

Tags: , , , , Posted in US

World Bank: Growth in Developing East Asia Strong, but Slowing

Posted May 23rd, 2012 at 3:15 am (UTC-5)
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The World Bank says growth in East Asia’s developing economies remains strong, but warns they need to reduce their reliance on exports as the global economic slowdown continues. The Washington-based lender said in a biannual report Wednesday that it expects growth to slow to 7.6 percent this year in developing East Asia, which excludes Japan. […]

Tags: , , , , Posted in East Asia Pacific

World Bank: Growth in Developing East Asia Strong, but Slowing

Posted May 23rd, 2012 at 12:50 am (UTC-5)
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The World Bank says growth in East Asia’s developing economies remains strong, but warns they need to reduce their reliance on exports as the global economic slowdown continues. The Washington-based lender said in a biannual report Wednesday that it expects growth to slow to 7.6 percent this year in developing East Asia, which excludes Japan. […]

Tags: , , Posted in East Asia Pacific

Greeks Withdrawing Euros from Their Banks

Posted May 16th, 2012 at 2:15 pm (UTC-5)
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Greeks worried about the safety of their financial holdings are starting to withdraw large sums of euros from banks as the country ponders its fate in the 17-nation currency union. The country’s leaders reported that account holders withdrew about 700 million euros — nearly $900 million — on Monday as it became apparent that political […]

Tags: , , Posted in Economy

Obama Expected to Sign Measure Renewing Export-Import Bank

Posted May 15th, 2012 at 7:25 pm (UTC-5)
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U.S. President Barack Obama is expected to sign a bill to renew the charter of the 80-year-old Export-Import Bank over conservative opposition. The Senate passed the measure Tuesday, a week after approval by the House of Representative. White House spokesman Jay Carney says the measure is absolutely necessary to ensure American exports can keep growing. […]

Tags: , , Posted in Economy, US

South Sudan is World Bank’s Newest Member

Posted April 18th, 2012 at 3:40 pm (UTC-5)
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South Sudan became the newest member of the World Bank on Wednesday when the country’s finance minister, Kosti Manibe Ngai, signed an agreement in Washington formalizing the country’s membership in the organization. South Sudan has suffered from decades of conflict, and the World Bank says the world’s newest country has some of the lowest levels […]

Tags: , , , Posted in Economy

World Bank Chooses US Candidate Kim as Next President

Posted April 16th, 2012 at 6:15 pm (UTC-5)
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The directors of the World Bank have named another American, Jim Yong Kim, to be the president of the global development agency. Dr. Kim is a physician, anthropologist, and president of Dartmouth College. Previously, he ran United Nations’ efforts to fight AIDS, created a non-governmental organization to promote health care for impoverished nations, and taught […]

Tags: , , , , , , Posted in Economy

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