Monthly Archives | January 2012
European Union Summit Begins
January 31st, 2012
READ MOREEuropean Union leaders are gathered in the first summit of the year. The official agenda focuses on achieving a balance between more austere fiscal policies for nations with high levels of debt and policies to revive economic growth in the …
President Chávez Threatens to Nationalize Banks
January 31st, 2012
READ MOREVenezuelan President Hugo Chávez has threatened to take over the banks of his country if they don’t hand US$ 9.31 billion for agricultural loans this year. Speaking on state television on Sunday he mentioned Banesco Banco Universal, Mercantil Banco Universal …
Severe Drought in Mexico Impacts Inflation
January 31st, 2012
READ MOREIn an interview with Bloomberg News in the World Economic Forum of Davos, Agustín Carstens, the central bank Governor, assured that Mexico’s worst drought on records is pushing up food costs and may impact the inflation expectations: “We have had …
“Robin Hood” Tax in France
January 31st, 2012
READ MORENicolas Sarkozy, the French president, has announced his plans to introduce a new 0.1% tax on financial transactions. The tax is a part of the official measures to promote growth and create jobs in France. Sarkozy wants to set an …
Microfinance Keeps Growing in Philippines
January 31st, 2012
READ MOREThe Bangko Sentral ng Pilipinas, the Central Bank of Philippines reported that 198 banks in that country have lent US 165 billion to almost one million borrowers during the year June 2010 – June 2011. Among the 198 lenders there …
Aakash: A Digital Dream Come True
January 30th, 2012
READ MOREFinancial inclusion, computer literacy and broadband access count among the most important goals in development agenda. As always India has gone a step forward. The government has launched Aakash, an Android-based tablet computer produced by British company DataWind and manufactured …
Microfinance Photography Contest
January 30th, 2012
READ MORESince 2006 the Consultative Group to Assist the Poor (CGAP) organizes a successful Microfinance Photography Contest. The works presented by artists, journalists and nonprofessional photographers around the world reveal the human side and even the beauty of the financial scheme …
Wall Street: “A Total Disgrace”
January 30th, 2012
READ MOREIn an interview with CNN, at the World Economic Forum in Davos, Switzerland, Jamie Dimon, chief executive officer of JPMorgan Chase, said that he can understand the grievances of the Occupy movement because some Wall Street’s actions are “a total …
Facebook Goes Public
January 30th, 2012
READ MOREAccording to people familiar with the matter mentioned by The Wall Street Journal, Facebook, the most successful social network is planning to file documents next Wednesday for an Initial Public Offer (IPO). The estimated value of the company created by …
Spain’s Unemployment Hits a New High
January 30th, 2012
READ MOREIn the last quarter of 2011, according to official figures, Spain’s unemployment hit a new record. The National Statistics Institute revealed that at the end of December 5.3 million people were out of work, up from 4.9 million in the …