http://theglobalherald.com News, Analysis & Reflection Wed, 08 Feb 2012 18:13:11 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://theglobalherald.com/visa-expands-into-africa-with-rwanda-partnership/26078/ http://theglobalherald.com/visa-expands-into-africa-with-rwanda-partnership/26078/#comments Mon, 05 Dec 2011 11:20:13 +0000 Business Desk http://theglobalherald.com/?p=26078 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 to increase the use of electronic payments and cards. The Rwandan government is aiming to increase per capita income from $220 to $1000 by 2020 [...]]]> http://theglobalherald.com/visa-expands-into-africa-with-rwanda-partnership/26078/feed/ 0 http://theglobalherald.com/germany-approves-efsf-bailout-deal/25250/ http://theglobalherald.com/germany-approves-efsf-bailout-deal/25250/#comments Thu, 29 Sep 2011 15:42:29 +0000 News Desk http://theglobalherald.com/?p=25250 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. The fund itself will hold total capital of €780 billion in order to maintain its AAA credit rating. 523 votes in favour, 85 votes against and [...]]]> http://theglobalherald.com/germany-approves-efsf-bailout-deal/25250/feed/ 0 http://theglobalherald.com/us-federal-reserve-underwhelms-as-euro-deal-reassures-markets/25247/ http://theglobalherald.com/us-federal-reserve-underwhelms-as-euro-deal-reassures-markets/25247/#comments Thu, 29 Sep 2011 14:51:52 +0000 Clem Chambers http://theglobalherald.com/?p=25247 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. In the form of US deficits, sovereign debt or trouble with the euro, these issues have created significant knock-on problems for economies and sectors globally. [...]]]> http://theglobalherald.com/us-federal-reserve-underwhelms-as-euro-deal-reassures-markets/25247/feed/ 0 http://theglobalherald.com/us-treasury-recoups-2-16-billion-from-aig/23562/ http://theglobalherald.com/us-treasury-recoups-2-16-billion-from-aig/23562/#comments Fri, 19 Aug 2011 12:49:49 +0000 Business Desk http://theglobalherald.com/?p=23562 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 Ruen Chen Investment Holding Co., Ltd for $2.16 billion in cash. AIG President and Chief Executive Officer Robert H. Benmosche said: “We continue to make [...]]]> http://theglobalherald.com/us-treasury-recoups-2-16-billion-from-aig/23562/feed/ 1 http://theglobalherald.com/airtel-launches-mobile-money-platform-in-kenya/23349/ http://theglobalherald.com/airtel-launches-mobile-money-platform-in-kenya/23349/#comments Tue, 16 Aug 2011 20:06:21 +0000 Robert Okemwa Onsare http://theglobalherald.com/?p=23349 “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 everyone now wants a slice of it”, the Governor of the Central Bank of Kenya, Prof Njuguna Ndung’u has said. The Governor was speaking during [...]]]> http://theglobalherald.com/airtel-launches-mobile-money-platform-in-kenya/23349/feed/ 0 http://theglobalherald.com/hsbc-to-sell-card-and-retail-business-to-capital-one-financial-corporation/23156/ http://theglobalherald.com/hsbc-to-sell-card-and-retail-business-to-capital-one-financial-corporation/23156/#comments Wed, 10 Aug 2011 12:44:42 +0000 Business Desk http://theglobalherald.com/?p=23156 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 Corporation. All employees will be given the opportunity to work for Capital One. HSBC has estimated its post-tax gain on the sale to be US$2.4bn based [...]]]> http://theglobalherald.com/hsbc-to-sell-card-and-retail-business-to-capital-one-financial-corporation/23156/feed/ 0 http://theglobalherald.com/markets-bounce-as-federal-reserve-undertakes-to-keep-us-federal-rates-down/23146/ http://theglobalherald.com/markets-bounce-as-federal-reserve-undertakes-to-keep-us-federal-rates-down/23146/#comments Wed, 10 Aug 2011 11:43:28 +0000 Business Desk http://theglobalherald.com/?p=23146 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 so into mid-2013. It said in a statement: “To promote the ongoing economic recovery and to help ensure that inflation, over time, is at levels [...]]]> http://theglobalherald.com/markets-bounce-as-federal-reserve-undertakes-to-keep-us-federal-rates-down/23146/feed/ 0 http://theglobalherald.com/corporations-stolid-in-face-of-us-downgrading/23099/ http://theglobalherald.com/corporations-stolid-in-face-of-us-downgrading/23099/#comments Mon, 08 Aug 2011 12:40:55 +0000 Business Desk http://theglobalherald.com/?p=23099 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 Government debt by Standard & Poor. Fixed Income Clearing Corporation, a subsidiary of DTCC. DTCC provides custody and servicing for assets of US $36.5 trillion. [...]]]> http://theglobalherald.com/corporations-stolid-in-face-of-us-downgrading/23099/feed/ 0 http://theglobalherald.com/australias-finances-endorsed-by-imf-as-asx200-slump-below-4000/23086/ http://theglobalherald.com/australias-finances-endorsed-by-imf-as-asx200-slump-below-4000/23086/#comments Mon, 08 Aug 2011 11:13:57 +0000 Business Desk http://theglobalherald.com/?p=23086 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 the news of the United State’s credit downgrading and worries over the ability of European countries to bail out the Italian and Spanish economies. The [...]]]> http://theglobalherald.com/australias-finances-endorsed-by-imf-as-asx200-slump-below-4000/23086/feed/ 0 http://theglobalherald.com/kcb-registers-a-41-per-cent-growth-in-mid-year-statement/22610/ http://theglobalherald.com/kcb-registers-a-41-per-cent-growth-in-mid-year-statement/22610/#comments Thu, 04 Aug 2011 09:31:35 +0000 Robert Okemwa Onsare http://theglobalherald.com/?p=22610 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 bank attributed its good performance to growth in income from various business segments, implementation of cost management initiatives, and growth in market share as well [...]]]> http://theglobalherald.com/kcb-registers-a-41-per-cent-growth-in-mid-year-statement/22610/feed/ 0