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Banking Business News
EU: Banks hide key info from customers
Europe’s banks frequently hide key information from potential account holders and hit them with unexpected fees, the European Union’s executive said on 22 September as it called for more transparency in the consumer banking market.
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Swiss and French bank war of words over assets
A senior private banker has sparked a row with foreign financiers in Switzerland at a time when the entire sector is at a tipping point, suggesting they would sell their assets and branches in Switzerland.
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Solving the EU’s recession isn’t easy
Greece’s Minister of Economy and Finance Yiannis Papathanasiou was in Brussels last week to attend meetings and seminars of his peers and financial analysts and economists to explain how their countries are handling the recession
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German finance minister sees global inflation threat
First the governments of the United States, European Union and the world said injecting trillions of currencies into saving banks and businesses was necessary to prevent a worldwide economic collapse, and now comes a warning
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Austria blasts Krugman’s economic meltdown picture
Austrian officials and politicians have protested comments by US economist Paul Krugman that Austria risked bankruptcy owing to its large exposure in Eastern Europe. There was no need for “unqualified statements based on inadequate information,
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Economic wrestling pits the EU vs. Bundesbank
The tension’s getting to everyone it seems, as a war of words erupted between the European Union’s executive and the head of its largest member’s central bank as officials accused one another of “surprising” acts
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This week: poor funds and emerging economies
If ever there was a measure of a boom in financial services it must be the growth of investment funds. Since 2002 there was a rise of 31.6 percent to a huge 32,941 funds in
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Cleaning up banks EU’s last best hope, IMF says
Europe must do better in cleaning up its banking sector should the continent have any hopes for recovery from a devastating recession, the International Monetary Fundwarned amid signals that some of the continent’s economies may
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Barack Obama: A time for global action
WASHINGTON: We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation. Now, the leaders of the Group of 20 have a
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Bernanke US banks won’t be nationalised, but Obama’s worried
While US central bank head Ben Bernanke has rejected the idea that the government plans to nationalise major US banks in danger of collapse, President Barack Obama said the government may yet have to take
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Swiss bank EFG’s profit down off a very bad year
The Swiss-based private bank EFG International said its profit in 2008 dropped 33 percent compared to the previous year, a report would led to its stock dropping 35 percent. EFG said its profit for 2008
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Erste Bank profits fall 27% on CEE write-downs
Austria's Erste Group Bank has reported that its net profit declined by 26.8 percent to 860 million Euro in 2008, as it wrote down premiums on asset values in three Central and Eastern European daughter
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Dexia posts 3.3 billion Euro losses for 2008
Dexia, the bailed out Franco-Belgian bank, recently published its full year figures for 2008 reporting a larger than expected 3.3 billion Euro (4.2 billion dollar) net loss, attributable to US sub-prime toxic assets.Dexia suffered 3.326
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Banks not impacted by economic crisis here
The global economic crisis, fortunately, has not affected the banking system of Cyprus, said Cypriot President Demetris Christofias, on March 1, while speaking at in an informal Meeting of EU Heads of State and Government.
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Credit Agricole profits plunge, more bad times coming
French bank Credit Agricole said that its profits for 2008 fell by 74.7 percent over the previous year, to 1.024 billion Euro (USD 1.28 billion.) The sharp downturn was primarily caused by risk provision write-offs
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UniCredit still positive, despite raft of bad news
Since the entry of the foreign bank UniCredit Group in the Kazakh banking sector in 2007 through the acquisition of Kazakhstans sixth-largest lender ATF Bank, the countrys banking sector and the economy underwent dramatic changes,
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After scandal, Swiss bank secrecy veil may lift
Switzerland will not give up its banking secrecy laws, but some concessions may need to be made to appease objectors, Swiss President Hans-Rudolf Merz has said. Banking secrecy is anchored in Swiss law but "we
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A rockslide for Northern Rock as losses mount
The nationalised United Kingdom bank Northern Rock, whose failure started the near-collapse of the countrys banks, has reported pre-tax losses of GBP 1.36 billion (1.53 billion Euro) and held a total of 3,620 repossessed homes
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Gripping recession forces a record-low interest rate
The European Central Bank (ECB) has cut interest rates for the fifth time in six months, lowering borrowing costs to an historic low and signaled further reductions were likely in the coming months amid a
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EU wants tax haven ended, the Swiss want secrets
Even as Switzerland said its reputation of bank secrecy would remain – despite turning over the names of hundreds of American investors to US tax officials who said Swiss bank UBS had helped them evade
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Most popular stories
EU-Russia energy game
EU budget: Naming and Shaming of Member States allowing fraud
A message for Turkey: tear down Cyprus’ wall now!
India says global warming is not to blame for Himalayan glacier melt
A misled Merkel takes a swipe at GM over its Opel U-turn
Focus: Equal Rights for the Sexual Minorities
Does Europe welcome gay politicians?
Lesbian Bisexual Gay and Transexual (LBGT) organisations across Europe cooperate under the umbrella of the International Lesbian and Gay Association
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Representing the sexual minority

Kassandra
Thursday’s Last Supper
This coming Thursday evening, November 19 during the “Last Supper,” the 27 heads of the EU Member States will decide
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The Cold Case Of (Premeditated?) Intelligence Failures
The end of World War II found the United Kingdom winners, but literally bankrupt. The
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Wining And Deciding
After months of networking, secret briefings, it seems that the  candidates for the Council President
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USA
Obama says US, EU must avoid protectionism temptation
In a meeting in Washington with the current Swedish Presidency of the European Union, US President Barack Obama said that
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Britain beefs up Afghan force but Russia smells defeat
As the United States and NATO have urged European countries to take a bigger role
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NATO chief sides with US, says Europe must help in Afghanistan
Europe must step up its efforts in Afghanistan if it wants to avoid straining relations
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World’s leaders hatch another ‘Save the World’ plan
Six months after they met in London and established a $1.1 trillion-dollar support package for
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Russia
Moscow, London try to thaw frosty ties
As the first top British diplomat to visit Moscow in recent five years, British Foreign Secretary David Miliband wrapped up
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Russia hopes Renault will up stake in AvtoVAZ
Despite French carmaker Renault’s earlier statement that it will not invest any more money in
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US, Russia continue arms reduction talks
The United States and Russia on 9 November began another round of talks over nuclear
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Putin vows to improve investment environment
Russian Prime Minister Vladimir Putin said the government will continue to adopt measures to better
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CHINA
EU firms bullish on China, intellectual property debated
The worldwide economic recession has had European Union businesses keenly eyeing China for continuing markets, and the EU’s Chamber of
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China miffed over German snubs at Frankfurt book fair
Showing there is still some major differences between the European Union and China in areas
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As China cranks up PR machine, media groups want openness
Just as the 60th anniversary of the founding of the People’s Republic of China passed
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NE Online Edition

EWI
Dr. Greg Austin
Israel’s right to be the Jewish state: Consequences?
Dr. Greg Austin

Interviews
Alexander Berezikov
EU, Russia in high-stakes energy game, says Duma advisor
Alexander Berezikov
Vladimir Sokor
Caucasus’ frozen conflicts not so frozen, Sokor says
Vladimir Sokor
Vladimir Senko
Belarus has had the EU’s stick, and now it’s looking for sanction-free carrots
Vladimir Senko

Bylines
Jorgo Chatzimarkakis
EU budget: Naming and Shaming of Member States allowing fraud
Jorgo Chatzimarkakis
Jeffrey D. Sachs
Electric cars and sustainable development = a future
Jeffrey D. Sachs
Francisco Jaime Quesado
Is Bucharest the Paris of the East?
 Francisco Jaime Quesado
Laszlo Tokes
Ecumenical Intergroup at the European Parliament
Laszlo Tokes
Dr. Greg Austin
Accelerating Change: Bold Leaders, Chinese Pragmatism
Dr. Greg Austin
Jeffrey D. Sachs
King Coal’s Climate Policy
Jeffrey D. Sachs



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