Thursday, July 31, 2014

RUSSIA AND INDIA AGREEMENT TO USE THEIR CURRENCIES DIRECTLY FOR TRANSACTIONS

Original link to statement by Russia central bank
[translation]:
First Deputy Chairman of the Central Bank of the Russian Federation KV Yudaeva and Executive Director of the Reserve Bank of India G. Padmanabhan at the twentieth meeting of the Subgroup on banking and financial issues of the Russian-Indian intergovernmental commission on trade-economic, scientific-technical and cultural cooperation discussed the current state and prospects of cooperation between banks
The meeting was attended by representatives of central banks, ministries and agencies, credit organizations in Russia and India.
During the meeting dealt with the problems faced by the branches and subsidiaries of banks in the two countries and ways of addressing these problems.
As a priority area discussed the use of national currencies in mutual settlements. Given the urgency of the issue and the interest of commercial structures of the two countries, the meeting decided to establish a working group to develop a mechanism for the use of national currencies in mutual settlements. It will consist of representatives of banks and, if necessary, the ministries and departments of the two countries to coordinate its activities will be central banks of Russia and India.

Friday, July 18, 2014

ANGOLA SUBSIDIARY OF PORTUGAL BANK SAYS IT NEEDS CAPITAL ASSISTANCE

Espirito Santo woes spill over to Angolan banking unit
"Investors are watching potential liabilities at BES's 12-year-old Angolan unit as a fault line in an escalating affair that has already roiled global markets and forced Portugal’s biggest telecoms firm to reduce its role in a planned merger with a Brazilian rival."

Wednesday, July 16, 2014

NOTICE: I am not able to paste quotes from linked articles, and only able to post links and type by hand information about the story. Has anyone else had this problem in blogspot?
Regards,
Goedeck