Italy faces a €4.95 billion ($5.65 billion) bailout after bad loans in its banks accumulated to an alarming rate.
The bank shares have lost close to half of its value in the last 12 months.
Government
Duterte Opens Philippines To Foreign Investment
Philippine President Rodrigo Duterte pledged to open the teleceommunications and energy sectors of the country to foreign investors. He also expressed his firm intention to combat corruption and pretectionism that hinders economic growth.
Greek Public Sector Workers Protest Amid Economic Crisis
Greek public sector workers walked off the street in a series of protest against reforms under the international bailout.
Germany's Gabriel Pushes More Investments; Advises Tax Cuts Caution
Sigmar Gabriel, the economy minister of Germany urged the government to put up more investments. He stressed out that there should be more schools to be put up, infrastructures such as road as well as in education. In his speech he asked to push more welfare handouts of the solid public finances.
The U.S. Court Allowed Argentina to Sell Bonds in Global Market
The U.S. Court of Appeals on Wednesday cleared Argentina to sell $15 billion bonds in the market. The country expects to issue the bonds within this week.
Latest News
As settlement for hiding bad loans and house desolation, Wells Fargo will pay $1.2 billion. The bank lender admitted of cheating the government by insuring thousands of risky mortgages although they are not eligible.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Advocacy groups heavily criticized the draft as it allows company to hide their activities. Meanwhile, Iceland Prime Minister has resigned following protest over Panama leaks.
Leonardo DiCaprio can still visit Indonesia and will not be barred as an Indonesian minister appreciates his effort about the plight of the animals and how to help them and looks forward on working with him.
The Kingdom of Saudi Arabia is poised to sell bonds after it has secured syndicated loans. The government is already in talks with the banks and will host Euromoney Saudi Arabia Conference on May 3 to 4 to determine the future of KSA market.
Cameron accused journalists are getting over excited to hunt news on political rift. While five of his cabinet members are opposing him, and one had resigned.
People and business leaders protested State of North Carolina that restrict protection on LGBT people. The state's law was signed Wednesday by Governor Pat McCrory.
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
In the annual Boao Forum for Asia (BFA) last Thursday, Premier Li Keqiang deliver keynote speech. He pledged the government will refrain to intervene in economic and market.
