Key US Inflation Measure Declines In May
The Federal Reserve's preferred measure of inflation retreated in May, casting further doubt on the chances for another interest rates increase this year, according to Commerce Department data...
Tag: Financial crises
Big Investor Payouts Seen At US Banking Giants
As they await this week's stress test results, US banks face a dilemma their European counterparts can only dream of: what to do with a pile of excess cash? The answer is expected to become clearer...
US Existing Home Sales Rebound In May As Prices Rise
Sales of existing homes rebounded in May after April's surprise dip, and prices edged higher, according to industry figures released Wednesday. The National Association of Realtors said strong demand...
Gov’t Decision To Retire Legacy Debts To Boost Banking Industry – Bankers
The Chartered Institute of Bankers says the decision by the government to issue new bonds to pay off legacy debts will bring significant relief to the banking industry. Its Chief Executive, Anthony...
Russia’s Economy Is On the Mend
Russia is heavily dependent on oil exports and was hit hard when crude prices started to crash The country is recovering nicely from a recession and should see economic growth of 1.4% this year,...
China Targets Debt Risks, But Does It Mean Business?
China has launched perhaps its most concerted push yet to clean up a toxic brew of unregulated and risky lending increasingly viewed as a threat to global financial stability, but do authorities...
Manufacturing Sub-Sector Pushes March PPI To 6%
The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation (PPI) which measures the average change over time in the prices by domestic producers of goods and services has...
Mallya’s $1bn Debt Is the ‘tip of the Iceberg’ of India’s Unpaid Loans
The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon's unpaid debts are just the tip of an iceberg that is already holding back the country's...
How Bad Corporate Debts Are Holding Back India’s Growth
The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon's unpaid debts are just the tip of an iceberg that is already holding back the country's...
Weak Banks Require Urgent Recapitalisation
The International Monetary Fund (IMF) has asked the Bank of Ghana (BoG) to ensure that banks with minimum capitals below the industry requirement prepare “credible and time-bound recapitalisation...
160 Million Cedis To Be Paid End of March
About 160 million cedis is expected to hit the accounts of banks that are owed the energy sector debts, by the end of March 2017. This is according to the President of the Ghana Association of...
Government Must Cut Expenditure To Reduce Interest Rates – Ken Thompson
Government will have to cut down its expenditure significantly if the Ghanaian banking sector is to see a reduction in the high-interest rates, the Chief Executive Officer of Dalex Finance, Ken...
Gov’t Must Cut Expenditure To Reduce Interest Rates
Government will have to cut down its expenditure significantly if the Ghanaian banking sector is to see a reduction in the high-interest rates, the Chief Executive Officer of Dalex Finance, Ken...
China’s Huge Debt Poses Big Headache For Central Bank
Chinese banks lent more money in January alone than the annual GDP of South Africa, as borrowers rushed to take advantage of government policies intended to stimulate the economy with easy credit....
Fuel Price Surge Sends Inflation To Highest Since June 2014
British consumer prices rose last month at the fastest pace since June 2014 and are set to rise further, propelled by higher global oil prices and the Brexit-fuelled fall in the pound, official data...
Number of Banks To Hit 37
Despite calls for banks to merge in order to build their capacity, Citi Business News has gathered that four more banks have applied to the Bank of Ghana(BoG) awaiting approval from the central bank...
China Needs To Regulate ‘money Gates’ But Guard Against Financial Stress
China needs to keep financial market liquidity stable and regulate its "money gates" to prevent asset bubbles, but it also needs to ensure a lack of liquidity doesn't cause financial stress,...
Matured Bills & Bonds Reach GHC145bn In 2016
Total bills and bonds auctioned this year, from January to October, by the government, Bank of Ghana, and COCOBOD including already issued longer-term bonds that matured this year, have hit GH¢145...
No Bonuses For Banks Staff As Mounting Debts Trigger Write-Offs
Staff of universal banks will be denied their bonuses this year as rising Non- performing loans in the sector crossed GH¢6.1 billion for the seven months of the year. Several bank staff who spoke to...
Banks Crave More Loan Restructuring Deals
Government’s decision to restructure Volta River Authority’s (VRA) debts has been well received by banks in the country which are hoping such arrangements will be made for other State-Owned...