JBIC inks $43bn credit line pact with Japan banks
The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas.
The step is part of the government's overall $100 billion program announced in August to encourage corporations to swap yen reserves for dollar holdings.
The Ministry of Finance hopes its program could be a catalyst for billion-dollar purchases of companies overseas, as well as energy-, resources related assets abroad. The state-owned JBIC runs the program using the government's special foreign exchange account.
JBIC said it has allocated $15 billion worth credit line to the
Bank of Tokyo-Mitsubishi UFJ, a core part of Mitsubishi UFJ Financial Group Inc.,
Sumitomo Mitsui Banking Corp., a unit of Sumitomo Mitsui Financial Group Inc., and
Mizuho Corporate Bank of Mizuho Financial Group Inc. each are assigned $14 billion credit lines.
Source: NikkeiDate: 05.10.2011 [307]
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Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest sign of distress in Europe. Among those downgraded were giants Banco Santander and BBVA, the country's two largest banks.
Source: CNNMoney |
| | Middle East's Leading Banking Technology & Innovation Summit to be held in Dubai - 07.05.2012
Following on from the success of the 2011 Middle East Banking Technology & Innovation Summit, Expotrade announces that this year’s event will once again take place in Dubai on the 1-2 October 2012. This year’s conference will focus on strengthening the Middle Eastern banking and financial industry’s position within the global market.
Source: Expotrade |
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Three quarters of the world’s poor don’t have a bank account, not only because of poverty, but the cost, travel distance and amount of paper work involved in opening an account, according to new data released by the World Bank.
Source: World Bank |
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Talks between senior U.S. and Swiss officials about a dispute over unpaid taxes on accounts held in Swiss banks led to no breakthroughs, Swiss President Eveline Widmer-Schlumpf said on Saturday.
Source: Reuters |
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The following are the «World's best emerging market banks 2012 in Central & Eastern Europe» according to rankings published by Global Finance magazine:
Source: Global Finance |
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The Western Union Company, a leader in global payment services, today announced that it will launch WU Pay, a new and innovative electronic payments platform that will significantly improve the customer experience and safety for millions of people seeking to make online payments or transfer money.
Source: Western Union |
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Source: Reuters |
