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Merrill confirms Kuwaiti and Korean involvement
The Kuwait Investment Authority and Korean Investment Corporation became the two latest sovereign wealth funds to capitalise on banks' subprime losses, buying into Merrill Lynch, an investment bank.
GIC and Kuwaiti SWF invest in Citi
Citi, the world's biggest bank, revealed on Tuesday that the Government of Singapore Investment Corporation (GIC) and the Kuwait Investment Authority were part of a group of investors involved in a $12.5 billion capital injection.
Injections were vital: Deutsche Bank's Ackermann
Central banks' liquidity injections were crucial in averting the collapse of financial institutions, said Josef Ackermann, the chairman of Deutsche Bank.
China's Liu on problems plaguing property market
Excessively rapid price growth in certain cities, an irrational supply and demand structure and the inability of low income families to afford housing in the domestic real estate market are worrying officials at the People's Bank of China, says Liu Shiyu…
National Bank of Cambodia - Annual Report 2006
The Cambodian economy expanded by an impressive 10.4% in 2006, buoyed by structural reform aimed at enhancing economic competitiveness and reducing poverty.
Stability not gradualism has influenced UK MPC
The relative paucity of rate changes at the Bank of England since the institution became independent in 1997 is down to the increased stability of inflation and output growth, rather than a rise in the degree of gradualism, research published by the Bank…
ECB should discuss inflation disparities
The divergence between actual eurozone inflation and that perceived by the public in a number of euro area countries represents a communication challenge for the European Central Bank, says Lucas Papademos, the vice-president.
Saudi must diversify investments, says top bank
The National Commercial Bank, Saudi Arabia's largest state bank, has called on the government to set up a sovereign wealth fund to cut the country's exposure to the greenback. The central bank should also look at de-pegging the riyal from the dollar.
Top European politicians attack SWFs
Nicolas Sarkozy, France's president, on Saturday criticised the hypocrisy of sovereign wealth funds which are keen to buy foreign firms but disallow outside ownership in their own economies. His comments followed those of Charlie McCreevy, an EU…
UK opposition party call for more power for Bank
David Cameron and George Osborne, two senior politicians from Britain's main opposition party, the Conservatives, are pressing for the Bank of England to take on more responsibility for financial regulation.
Kuwait SWF set to make move on Wall Street
The Kuwait Investment Authority, a sovereign wealth fund, may be about to invest billions in Merrill Lynch and Citigroup, two of the biggest casualties of the subprime crisis.
Bank of Guatemala - Annual Report 2006
The Bank of Guatemala's monetary policy decisions in 2006 considered the volatility of global oil prices and the dynamism of the international economy, the annual report for that year revealed.
France's Noyer: new rules for ratings agencies
Christian Noyer, the governor of the Banque de France, highlighted three areas in which the regulation of rating agencies needs to improve in the wake of the credit crunch.
Japanese business prepares for e-money surge
The number of payment devices for processing e-money transactions in Japan is set to almost double by 2010 as the payment method gains popularity with consumers.
Complex rules pose a threat to stability
Opaque regulations not only deepen financial instability but also raise the likelihood of banking crises, research published by the Bank of Korea finds.
Peruvian rates hit 5.25% on inflation fears
The Central Bank of Peru's rate-setting board raised rates to 5.25%.
Chile raises rates
The Central Bank of Chile voted on Thursday to hike rates by 25 basis points to 6.25%.
Turkish central bank set for Istanbul move
The Central Bank of Turkey will relocate to Istanbul in spite of objections from the institution's staff, Recep Tayyip Erdogan, Turkey's prime minister said on Thursday.
Tanzania's Ballali fired over central bank fraud
Jakaya Kikwete, Tanzania's president, has sacked Daudi Ballali, the governor of the Bank of Tanzania, after external auditors found massive fraud at the central bank.
Rock repays Bank debt with JPMorgan sale
Northern Rock, the beleaguered British mortgage lender, is to pay back some of its Bank of England debt through the sale of a mortgage portfolio worth £2.2 billion to JPMorgan, the- American investment bank.
Central Bank of Djibouti - Annual Report 2005
Djibouti's economy expanded by 3.2% in 2005. The growth was largely supported by a strong trading relationship with Ethiopia and improvements to the country's infrastructure.
Central banks get cheaper cash from companies
Private-sector involvement in the printing of banknotes substantially lowers costs, research published by Colombia's Banco de la Republica finds.
Muto lists criteria for Bank of Japan decisions
The Bank of Japan should assess three phenomena when deciding on monetary policy, says Toshiro Muto, a deputy governor.
IMF growth forecasts fall on purchasing power data
The International Monetary Fund (IMF) has lowered its growth estimate for 2007 by half a percentage point after reviewing research published by the International Comparison Program, a global statistical initiative involving over 100 countries.