Swiss Finance Minister said that the government would be debating on the issue of bank secrecy on two specific points.
Industry
Increasing Money Supply Raises Risks
Iceland's current dilemma is removal of capital controls but by increasing the money supply, it would present long term risks to its capital market.
Carson Block Betting Against British Bank
Carson Block is on the attack against the debt portfolio of Standard Chartered bank. Carson Block is hedging against the debt portfolio of Standard Chartered Plc, saying that the UK bank is earning most of its profits from Asia due to its loan quality deterioration.
China's State Council Orders FDI Regulations Revamp
The foreign exchange regulatory agency of China, upon orders of the State Council, has abolished regulations that lead to red tape and promotes non transparency.
UPDATE: Bloomberg Removes Reporters Access
Bloomberg, in a response to a complaint made by Goldman Sachs, removes reporters access to its terminals.
Latest News
Host British finance minister said that the G7 officials meeting is aimed to discuss continued reforms.
The EBRD is thinking of going directly to the small business man to help jumpstart the European economy.
German exporters face tough hurdle because of the Yen's continued depreciation. The big exporters of Germany are facing a new difficulty from its Japanese competitors following the quick depreciation of Yen as against the Euro.
Delinquent loans from many countries from the former Soviet bloc are impeding the growth and development of these countries and the region.
In a move to restructure its banking industry, the Greek Central Bank is closing down FBBank. Greece, in a bid for housecleaning, has split one of its smaller lending institutions into 'good' and 'bad' parts.
Russia's Finance Minister says there is a need for Russian Parliamentary approval for any terms changed on the loan.
According to Credit Suisse, the cycle of mergers and acquisitions would soon be picking up because of positive factors in the market.
NN appoints Richard Holder as its new CEO. There is a new CEO for NN and the new appointee is Richard Holder to be effective on June 3, 2013. Holder is replacing Roderick Baty, who is retiring from the office.
Bloomberg news reporters had access to personal information of those using the news service, leading to ethical issues as to its use.
