CBS News partners with foreign news startup as news organizations cut back staff abroadSeptember 30th, 2009 CBS News partners with foreign news startupNEW YORK — CBS News plans to supplement its international coverage with reports from a Boston-based startup that specializes in foreign news. The deal with GlobalPost gives CBS access to the work of 70 correspondents in more than 50 countries.
At 'south-south' summit, Gadhafi calls for NATO-like alliance for South America, AfricaSeptember 30th, 2009 Gadhafi eyes defense alliance for Africa, SouthAmPORLAMAR, Venezuela — Libyan leader Moammar Gadhafi called for a NATO-like defense alliance for Africa and South America as leaders from the two continents agreed to link up to gain more clout as economic and political blocs. Gadhafi and Venezuela's Hugo Chavez led about 30 presidents in calling for stronger "South-South" ties at a two-day summit ending Sunday that was the Libyan ruler's first visit to Latin America.
Gadhafi, Chavez urge strong alliance between African, South America nationsSeptember 26th, 2009 Gadhafi, Chavez promote Africa-South America tiesPORLAMAR, Venezuela — Moammar Gadhafi and Hugo Chavez urged nearly 30 leaders from throughout Africa and South America on Saturday to form a strong intercontinental alliance to make the two regions a new global power. The Libyan leader, on his first visit to the Americas, called for the two regions to become a political and economic force, saying that together "we can transform the world."
Gadhafi proposed a defense alliance of South American and African nations, calling it "a NATO of the South" — an idea Chavez has raised with other allies in the past.
Central American bank freezes Honduras loans following coupAugust 27th, 2009 Central American bank freezes Honduras loansTEGUCIGALPA, Honduras — Central America's development bank says it is freezing credits to Honduras following the June 28 coup that ousted President Manuel Zelaya. Local media say the decision could affect infrastructure projects like planned highways in the impoverished Central American nation.
Private bank Sal Oppenheim gets euro300 million in new capital, financed by Deutsche BankAugust 11th, 2009 Sal Oppenheim raises euro300 mln in new capitalFRANKFURT — Sal. Oppenheim jr.
Japan's Shinsei and Aozora Banks agree to mergeJuly 1st, 2009 Japan's Shinsei and Aozora Banks agree to mergeTOKYO — Japan's Shinsei Bank Ltd. and Aozora Bank Ltd.
Family ties: Google invests another $2.6 million in startup launched by co-founder's wifeJune 19th, 2009 Google invests $2.6M in startup tied to BrinMOUNTAIN VIEW, Calif. — Google is putting another $2.6 million into 23andMe, a biotech startup with family ties to its co-founder, Sergey Brin.
Bank of America CEO Lewis 'comfortable' with capital position; gov't says needs $33.9B moreMay 8th, 2009 BofA Lewis 'comfortable' with capital positionCHARLOTTE, N.C. — Bank of America's CEO Ken Lewis says he is "comfortable" with his bank's current capital position, despite the government saying it needs $33.9 billion more.
Bank of America shares fall in premarket trading on reports it needs $34 billion in capitalMay 6th, 2009 BofA shares fall on reports of $34B shortfallNEW YORK — Bank of America stock is falling in premarket trading amid reports that it needs $34 billion in new capital. The Wall Street Journal and New York Times are reporting regulators are telling the Charlotte, N.C.-based bank it needs about $34 billion in capital based on results of government "stress tests." Both reports cite anonymous sources.
Japan to provide up to $60 billion in crisis fundMay 3rd, 2009 BALI ISLAND - Japan will establish an emergency fund of up to 60 billion dollars in the event of an Asian financial crisis, Japanese Finance Minister Kauru Yosano said Sunday. The fund is separate from the amount Japan committed to the Chiang Mai Initiative, a $120 billion regional foreign-exchange reserve pool, Yosano told a seminar of the Asian Development Bank's board of governors on the Indonesian resort island of Bali.
Asian nations endorse $120 bn emergency fundMay 3rd, 2009 BALI - Asian nations Sunday agreed on the make-up of a $120-billion regional liquidity fund designed to counter the global economic crisis. Finance ministers from the 10-member Association of South-East Asian Nations (ASEAN), Japan, China and South Korea approved the key components of the scheme, including individual country contributions, Indonesian Finance Minister Mulyani Indrawati said.
Development banks pledge $90 billion in loans over 2 years to Latam and CaribbeanApril 23rd, 2009 Development banks pledge $90B to Latam, CaribWASHINGTON — Development banks on Wednesday pledged about $90 billion in loans to Latin America and the Caribbean over the next two years to help the region fight a looming recession and generate growth. The financial crisis is battering the region through lower commodity prices, slumping demand for exports and tighter credit.
Asian Development Bank approved $10.5 bn in loans in 2008April 17th, 2009 MANILA - The Asian Development Bank (ADB) Friday said that it approved a total of $10.5 billion in loans in 2008, the highest in its 42-year history. India was the largest borrower with $2.9 billion, or 27.4 percent of the total loans extended last year.
All eyes on Manmohan Singh at G20 summitApril 1st, 2009 LONDON - Prime Minister Manmohan Singh, the soft-spoken economist who leads the world's loudest and largest democracy, will be much in demand at a gathering of the world leaders here Thursday. With degrees from Oxford and Cambridge universities and an enviable track record as Reserve Bank of India governor and finance minister, Manmohan Singh is expected to argue for the reform of the International Monetary Fund (IMF) and caution the world's richer nations against adopting protectionist policies.
United Bank hopeful of government nod for capital restructuringMarch 1st, 2009 KOLKATA - City-based public sector lender United Bank of India (UBI) is hopeful that the government would approve its proposal to reduce equity capital by March 31, a top official said here Saturday. 'We believe the finance ministry will approve our capital restructuring proposal by the end of the current financial year,' S.C.
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