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NAIROBI (Reuters) - Kenya's CFC Stanbic Bank posted a 79.5 percent jump in pretax profit for the first quarter from a year ago to 1.46 billion shillings. Banks in east Africa's biggest economy have reported higher earnings for the first three months of this year, buoyed by the growth of lending on the back of a robust economy in the region. CFC Stanbic, which is controlled by South Africa's Standard Group, said on Tuesday its net interest income increased to 1.75 billion shillings as interest paid on deposits tumbled after policymakers cut lending rates. Earnings per share rose to 5. ...
DUBAI (Reuters) - Inflation in Egypt is expected to climb to 10.9 percent this year, the highest level since 2010, the International Monetary Fund said on Tuesday, more than it expected in April. "Inflation is expected to rise in Egypt, Jordan, Morocco, and Tunisia, reflecting recent and planned subsidy cuts and, in some cases, pressure from monetization of fiscal deficits and supply shortages," the IMF said in its regional outlook. The Fund expected Egypt's inflation of 8.2 percent in 2013 in its half-yearly analysis of the world economy published last month. ...
BANGKOK (AP) — The price of oil rose toward $97 per barrel Tuesday, but gains were checked as investors waited for the Federal Reserve's latest views on the U.S. economy.
BANGKOK (AP) — Asian stock markets fell Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
BANGKOK (AP) — Asian stock markets struggled to post gains Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
By Tetsushi Kajimoto TOKYO (Reuters) - Japan's exports are expected to have risen in April from a year earlier for a second straight month led by U.S.-bound shipments of cars and Asian demand for electronics parts in a sign a weak yen and global recovery are helping the export-reliant economy. However, the Ministry of Finance (MOF) data due on Wednesday is also likely to highlight the costs associated with a weak currency, with the country expected to log its 10th straight month of trade deficits in April, as a higher import bill offsets export gains. The median forecast was for a 5. ...
By Paul Eckert WASHINGTON (Reuters) - President Barack Obama urged the president of Myanmar on Monday to halt violence against a Muslim minority but praised economic and political reforms in the formerly pariah nation that is emerging as a U.S. ally in China's backyard. During the first visit to the White House in 47 years by a leader of the Southeast Asian nation, Obama called for an end to the killings of Rohingya Muslims in western Myanmar's Rakhine state. Reformist Myanmar President Thein Sein vowed to resolve ethnic conflicts and bring perpetrators to justice. ...
WASHINGTON (Reuters) - A group of Democratic lawmakers has been invited to the White House on Tuesday for a briefing about economic issues from two top advisers to President Barack Obama on Tuesday. White House Chief of Staff Denis McDonough and Alan Krueger, chairman of the Council of Economic Advisers, will talk to a small group of Democrats from the Senate and House of Representatives. A list of the invited lawmakers was not immediately available. A series of political controversies has overshadowed positive news about the housing and job markets and a better-than-expected outlook for the ...
By Herbert Lash NEW YORK (Reuters) - Global equity markets mostly rose on Monday, driven higher by a flurry of merger and acquisition activity, while a recent tumble in the yen against the dollar halted after Japan's economy minister suggested the currency might have weakened enough. Major American and European stock indices are up double digits - the U.S. benchmark S&P 500 index is almost 17 percent higher so far this year - and investors still see better returns ahead in equities, even as Wall Street closed slightly lower. Deals such as Yahoo's $1. ...
LONDON (AP) — The price of silver was the standout mover in financial markets Monday as it took a hammering for the second trading session in a row, even as stocks remained relatively solid amid hopes over the U.S. economy.
By Frank Jack Daniel and Rajesh Kumar Singh NEW DELHI (Reuters) - India and China will study new ways to ease tensions on their ill-defined border after an army standoff in the Himalayas, Chinese Premier Li Keqiang said on Monday on his first official foreign trip. The number two in the Chinese leadership offered New Delhi a "handshake across the Himalayas" and said the world's most populous nations could become a new engine for the global economy if they could avoid friction on the militarized border. ...
(Reuters) - While the Federal Reserve's accommodative policies have boosted stocks and helped the rich, it is unclear whether they are doing enough for the broader U.S. economy, a top central bank official said on Monday. "We've made rich people richer...," Dallas Fed President Richard Fisher said on CNBC television. "Question is what have we done for working men and women in America?" Fisher, who has long opposed the Fed's bond-buying program and wants to reduce it, added he expects real gross domestic product growth of more than 2.5 percent by year end. ...
By Chijioke Ohuocha LAGOS (Reuters) - Nigeria will increase the amount it borrows overseas to around 40 percent of all debt over the next three to five years, from 12 percent currently, to lower its cost of funds, the head of the debt office said on Monday. DMO Director General, Abraham Nwankwo, said he expected Nigeria's debt to GDP ratio to fall to 17 percent over the same period from 21 percent, as Africa's second-biggest economy switches into cheaper foreign debt. ...
BANGKOK (AP) — The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief.
PORT LOUIS (Reuters) - Mauritius's earnings from tourism dropped 12.4 percent from a year earlier to 12.06 billion rupees in the first three months of this year as the weak economic environment in Europe hurt visitors' spending. Statistics Mauritius cut its forecast for visitor arrivals this year to 990,000 from a previous estimate of 1 million, but said it expected tourism revenue to increase to 46.1 billion rupees, from 44.3 billion in 2012. Visitor numbers grew 1. ...
By Marc Jones LONDON (Reuters) - Rising optimism about global growth pushed world shares to a near five-year high on Monday, while comments from Japan's economy minister that consumers could suffer if the yen falls further lifted it off a 4-1/2 low. Data last week that showed U.S. consumer sentiment at its strongest in nearly six years continued to support equity markets. MSCI's world index is at its highest since June 2008 as top European shares started the week up 0.2 percent. With risk appetite dominating, safe-haven German Bunds fell 45 ticks, while gold, also pressured by signs the U.S. ...
By William James LONDON (Reuters) - The cost of protecting Scottish savers would prove difficult to bear if the country broke away from the rest of the UK, a study by the Treasury said on Monday. The findings come in the latest paper from the British government on how independence would impact the country. On Sunday the Treasury said an independent Scotland would have a huge financial sector relative to its economy, leaving it vulnerable to a Cyprus-style banking crisis. ...
By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has rallied 45 percent this year and Abe's approval ratings are around 70 percent. ...
By Tetsushi Kajimoto and Izumi Nakagawa TOKYO (Reuters) - The Japanese government upgraded its assessment of the economy on Monday, as emerging signs of an upturn in exports and factory output added to growing evidence that Prime Minister Shinzo Abe's aggressive polices are beginning to reignite growth. The world's third-biggest economy is gradually recovering, according to the government's monthly report released by the Cabinet Office. The upgrade was the first in two months, and an improvement from April when it said the economy was showing signs of recovery but still had some weak spots. ...
BANGALORE (Reuters) - Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees ($105.3 million) income tax demand raised by Indian authorities earlier this month. The demand relates to certain tax benefits on income from software development done overseas at the clients' location and revenue from special economic zones in India, Infosys said in a statement. It said the latest tax demand disregards a clarification by the government in January. ...
TSX rises as gold miners lone sore spot TORONTO (Reuters) - Canada's main stock index rose on Friday as robust economic data helped drive gains in energy stocks and financial shares, offsetting weakness in gold producers. The materials sector, a major component of the S&P/TSX composite which includes gold miners, was the lone sector to finish in the red of ten main sectors, as the price of gold fell for a seventh straight session. ...
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California Links:
Here are some links that you may find useful. The California Dept Of Finance has a wide range of financial information. The website for the California State Treasurer has more data about the States economy. The FTC also has a page set up that can help you find a reputable California debt consolidation service. Another great resource from the same site will show you the guidelines that the providers of California debt settlement should be following.
Visitors Note:
Getting home equity bad credit loans are very popular lately. In many cases a person with debt problems may be tempted to...