The Hard Sell – Merkel Seeks Euro-Zone Inves...

Many in Europe have been eying Beijing's trillions as a possible solution to the continent's debt crisis. During her trip to China, German Chancellor Angela Merkel plans to promote investments in the debt-ridden euro-zone countries. But the Chinese have so far been tight with their money. Will Merkel succeed in getting Beijing to bend? 

The caricature of the euro shows a small and ailing little man -- unshaven, bandaged and weak, his eyes peering down at the ground in humility and carrying an old hat in his right hand to collect money. Angela Merkel, who is accompanying this sad creation, looks serious as she knocks on the imperial gate seeking entry -- and to plead for a small handout for her problem child. 

The picture created by a caricaturist for China's English-language Global Times newspaper isn't a very nice one. But there is a nugget of truth in the exaggerated image. Merkel isn't exactly going to be begging when she begins her three-day visit to China on Wednesday, but neither will she be opposed to leaving the country with one or more deals bringing multi-billion Chinese investments to the debt-plagued euro zone. 

This is ...

Bank of America Corp shaking up the leadership

Bank of America Corp is shaking up the leadership of its investment bank as it looks to find its footing in a difficult market environment.

In the reorganization, Christian Meissner will become head of global corporate investment banking, while two former co-heads of the unit will take on new roles, according to a memo sent to employees on Sunday, Jan 29, by co-chief operating officer Tom Montag, Reuters reported.

Meissner will report to Montag, the former Merrill Lynch and Goldman Sachs Group Inc executive who runs global banking and markets operations for Bank of America.

Paul Donofrio will become head of global corporate banking credit and transaction banking with responsibility for global treasury services, loan products and other services. Michael Rubinoff will become chairman of GCIB, where he will be charged with deepening client relationships.

Both executives will also report to Montag.

The new structure comes as the corporate and investment bank adapts "to a changing market environment to more effectively meet the needs of our clients," Montag said in the memo.

Bank of America spokesman John Yiannacopoulos confirmed the contents of the memo, but declined to comment further.

Source: http://www.panarmenian.net

No Cash To West Until Saudi Arabia, India And Chin...

Big emerging economies such as Saudi Arabia, India and China will not aid the West in its financial crisis unless they are given more influence in running the global economy, Prince Turki Al-Faisal, Saudi ex-envoy to U.S. and U.K., said on Monday.

“The financial crisis and great recession were born in the West, developed in the West yet hit hard throughout the world,” he said while addressing the Global Competitiveness Forum (GCF). 

He said this showed the need to give emerging economies more representation and more authority in global bodies such as the Group of 20 nations, a forum of the world’s major industrialized countries, and the Financial Stability Board (FSB), which discusses regulation of banks and financial markets.

So far, however, organizations such as the FSB “have yet to take these new realities into consideration,” while the G20 is making little headway in coordinating economic policy-making around the world, he said. Big emerging economies’ lack of influence in international bodies reduces their willingness to contribute money to fight the global crisis, the prince warned. 

Prince Turki noted that the Saudi central bank’s holdings of roughly $360 billion in foreign securities, most of them ...

Briefs: Rallies galore at the purple State House; ...

A rallying atmosphere is expected at the purple-drenched State House Friday as lawmakers don Ravens gear to support the hometown team in its conference championship match up against the New England Patriots Sunday afternoon.

Gov. Martin O’Malley has declared “Purple Friday,” allowing state employees to dress in Ravens gear. The State House dome and Government House, the governor’s residence, have been spotlighted in purple this week, though it’s pretty pale.

The governor’s office said O’Malley tweeted Massachusetts Gov. Deval Patrick to remind him of the lobsters he sent to settle the losing bet after the Ravens beat the Patriots in 2010.

Business, labor rally for gas tax hike

About 150 representatives of business and labor groups rallied in Lawyer’s Mall at the State House Thursday in support of increasing the gasoline tax to pay for new highway and transit projects.

Gov. Martin O’Malley said Wednesday that he would make an announcement about his stand on transportation taxes in the near future. Senate President Mike Miller supports an increase, and has said he has the votes in the Senate to pass one. House Speaker Michael Busch is not so sure of support among the delegates.

“They all ...

World Bank: Russia capital flight to reverse after...

Capital flight from Russia, which last year was second only in post-Soviet times to outflows in the crisis year of 2008, should reverse once political stability returns after the March presidential election, the World Bank says.

Nearly half of $84.2 billion in capital outflows last year occurred in the fourth quarter before and after the December 4 parliamentary election which was won by Prime Minister Vladimir Putin's United Russia party but sparked mass demonstrations against alleged vote-rigging and calls for a re-run.

"In a period of perceived instability and an election period, it often happens that capital outflows intensify," Michal Rutkowski, the World Bank's newly appointed country director for Russia, said, according to Reuters. "Once the elections are over, I think this trend will be over."

Relatively high yields on Russian assets and a commodity-exporting economy that is growing by around 4 percent a year make Russia attractive to investors but political tension has created risk. Political tensions deepened in September after Prime Minister Vladimir Putin and President Dmitry Medvedev announced a job swap that could potentially keep Putin in power for another 12 years.

Source : http://www.panarmenian.net/  

How and Where to Get Auto Financing

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Knowing how to approach and process a request or application for auto financing is very important because it is what guarantees that you will be granted or financed with the amount that you have requested for as auto finance. Whenever you have the need to apply for auto financing, it is very important that you should be well grounded in the basics of auto financing before applying for an auto finance Loan. Being well grounded in the ...