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EU to Create Investment Fund for Africa

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EU to Create Investment Fund for Africa

European Commission President Jean-Claude Juncker delivered Wednesday his 2016 State of the Union address, setting out key priorities for the year including the creation of an investment fund for Africa and other European Union (EU) neighbors. “With economic growth in developing countries at its lowest level since 2003, this is crucial. The new Plan will [...]

President Concerned About Lowered Profitability of Banks

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President Concerned About Lowered Profitability of Banks

It is your sacred responsibility to protect money of those who have reposed trust in you, the President of India tells Bankers. The President of India, Pranab Mukherjee, has expressed his concerns over the increase in stressed assets and lowered profitability of Banks. He was participating in the Centenary Celebrations of Karur Vysya Bank in [...]

ICICI Bank – Bureaucratic Hassles

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ICICI Bank – Bureaucratic Hassles

ICICI Bank – Bureaucratic Hassles UPDATE: September 15, 2016 I received the following e-mail from the ICICI Bank on Wednesday, September 14, 2016. Dear Mr. Raman, We regret the inconvenience caused. This is with reference to the e-mail addressed to Mr. Ashish Modi with the regards to receipt of FATCA/CRS Declaration letter dated August 16, [...]

How to Mitigate the Impact of Brexit

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How to Mitigate the Impact of Brexit

The United Kingdom, Europe and the world woke up this morning to a new reality. With the majority of the population voting to leave the European Union, Britain has started its road to separation. With sterling plummeting to its lowest level in 31 years and the stock market falling sharply, what lies ahead? What will [...]

Trump Presidency Favorable for Stock Market: Survey

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Trump Presidency Favorable for Stock Market: Survey

In a recent survey of self-directed, independent investors, the majority of respondents gave Donald Trump a narrow lead over Hillary Clinton when asked which U.S. presidential candidate had the potential to most favorably impact the U.S. stock market. Trump garnered 39% of responses while Secretary Clinton received 34%, followed by John Kasich with 13%, Ted [...]

Victoria Kwakwa Gets Top World Bank Post

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Victoria Kwakwa Gets Top World Bank Post

World Bank Group President Jim Yong Kim has appointed Victoria Kwakwa as the new Regional Vice President for East Asia and Pacific. Kwakwa, a Ghanaian national, will lead the Bank’s advisory and lending operations in the region and oversee strategic engagement with the region’s 23 member countries. The Bank’s lending in East Asia Pacific is [...]

India to Record Over 7% Economic Growth: Arun Jaitley

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India to Record Over 7% Economic Growth: Arun Jaitley

The Finance Minister of India, Arun Jaitley, says that despite adverse global headwinds, India is all set to record a growth of 7–7.5%. Jaitley was speaking at The Growth Net event that started in New Delhi Thursday. In his remarks at the opening plenary session, Jaitley said that India is a high growth market and [...]

1 in 3 Americans Has $0 Saved for Retirement

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1 in 3 Americans Has $0 Saved for Retirement

One in three Americans has absolutely nothing saved for retirement, according to a survey of over 4,500 people by personal finance website GOBankingRates.com. The survey also found that: 56% of Americans have less than $10,000 saved for retirement. Women are 27% more likely than men to have no retirement savings. 72% of millennials have saved [...]

One in Five Americans Expect to Die in Debt: Survey

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One in Five Americans Expect to Die in Debt: Survey

America continues to polarize into a nation of haves and have-nots when it comes to debt, according to a new CreditCards.com survey. The survey shows that the number of Americans with no debt is growing, but so is the number of indebted Americans who say they’ll never get out. More than one in five Americans [...]

Boosting Investment Towards Climate Smart Cities

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Boosting Investment Towards Climate Smart Cities

New policies and mechanisms are unlocking investment for much-needed climate-smart infrastructure in cities, according to a new report launched at Paris City Hall by United Nations Secretary-General Ban Ki-moon and international partners. “Your efforts enable your citizens to reduce their carbon footprint, breathe cleaner air and live more healthy lives,” Mr. Ban told mayors and [...]

Grameen Koota Welcomes Nobel Laureate Muhammad Yunus

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Grameen Koota Welcomes Nobel Laureate Muhammad Yunus

World-renowned social entrepreneur, founder of Grameen Bank, and pioneer of micro-credit, Prof. Muhammad Yunus inaugurated the new corporate office of NBFC-MFI Grameen Koota in Jayanagar, Bangalore on Saturday, September 5, 2015. Professor Yunus often referred to as father of micro credit, developed the concept which has enriched millions of poor households around the world with [...]

BJP Budget: Dhan Wapsi Budget for the Corporates

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BJP Budget: Dhan Wapsi Budget for the Corporates

Arun Jaitley, the Finance Minister of India, presented the Union Budget 2015-16 in the Lok Sabha on Saturday. Like all governments in India claim, the ruling Bharatiya Janata Party (BJP) government also believes that it’s a pro-poor Budget. However, the opposition political parties have dismissed the government claims, saying the Budget has ignored the needs [...]

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