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Visa Expands Into Africa with Rwanda Partnership

Visa is aiming to take 50% of its revenue outside of the United States by 2015 and as part of that strategy has created a partnership with the Rwandan government…

December 5, 2011No CommentRead More

Germany Approves EFSF Bailout Deal

The Bundestag has voted to approve the European Financial Stability Facility which will see Germany underwrite €211 billion – up from €123 billion – of a stabilization package of €440 billion euros.…

September 29, 2011No CommentRead More

US Federal Reserve Underwhelms as Euro Deal Reassures Markets

Stock markets of the world are in a manic depressive state as the US Federal Reserve’s “Operation Twist” underwhelms. The current financial crisis has manifested itself globally in different guises.…

September 29, 2011No CommentRead More

US Treasury Recoups $2.16 Billion from AIG

The US Treasury has reduced its holding in American International Group, an insurance organisation, following the group’s sale of Nan Shan Life Insurance Company, Ltd. The sale was made to…

August 19, 20111 CommentRead More

Airtel Launches Mobile Money Platform in Kenya

“Mobile Phone Financial services have in particular presented Kenya with an opportunity to significantly upscale access to financial services cost effectively. It has also shown there is a market and…

August 16, 2011No CommentRead More

HSBC to Sell Card and Retail Business to Capital One Financial Corporation

HSBC will sell its US credit card and private label credit card business comprising gross customer loan balances, certain real estate and other assets and liabilities to Capital One Financial…

August 10, 2011No CommentRead More

Markets Bounce as Reserve Undertakes to Keep US Federal Funds Rates Down

A “slower than expected” growth rate in the United States economy has led the US Federal Reserve to maintain federal funds rates at historically low levels, and continue to do…

August 10, 2011No CommentRead More

Corporations Stolid in Face of US Downgrading

Two major controllers of assets, Depository Trust & Clearing Corporation and Blackrock, have said that they will not rush to change policy in the face of the downgrading of US…

August 8, 2011No CommentRead More

Australia’s Finances Endorsed by IMF As ASX200 Slumps Below 4000

According to the International Monetary Fund, Australia is well placed to withstand another global financial crisis. The news came just in time as Australian markets closed down by 2.7% following…

August 8, 2011No CommentRead More

Kenya Central Bank Announces 41% Growth in Mid Year Statement

Kenya Commercial Bank (KCB) has reported a pretax profit of Sh 5.7 billion for the first half of 2011, a 36 percent increase over the same period in 2010. The…

August 4, 2011No CommentRead More