Word: bankes
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...clock ticks toward the Aug. 3 deadline, the Swiss are hoping that the future of their secrecy laws is something they can still bank...
...someone offering few substantive changes, the finance minister seemed awfully proud in his speech, congratulating his party on avoiding the worst of the financial crisis. Yet, smug as he might have been, the reality is grim: According to the World Bank, in 2005 456 million Indians still lived in poverty. Mukherjee’s plans to combat this are well intentioned, but will only temporarily help to alleviate the plight of the poor. It will take the spread of private industry and finance to permanently raise their standard of living...
...industrialized world - you'll see a thousand gray Astro satellite dishes around Belaga before marking a wild hornbill along the turbid Rajang. I sip limeades with Calvin at a riverfront café on my last night in town. He points to a weathered chieftain's tomb on the opposite bank, a wooden blur amid ferns and rubber and durian trees. The family hasn't maintained it for years, and restoration is unlikely. It's getting darker as the sun dips below Jayong mountain to the west. Soon the day will be gone, and soon so will the tomb...
...more remarkable aspects of Chinese government efforts to fend off the global economic downturn has been a surge in lending. To keep struggling enterprises afloat, Beijing urged Chinese banks to open the credit floodgates - and bankers have done so. The People's Bank of China, the central bank, estimates that $224 billion in new loans were made in June alone, bringing the total for the first half of the year to $1.08 trillion - 50% more than the amount of loans Chinese banks issued in all of 2008. (Read "China's Banks Become the Government's Foot Soldiers...
...This imbalance has forced small-business owners to avail themselves of unusual lending schemes. In many regions, companies are forced to go around the traditional banking system altogether by borrowing from other businesspeople or even loan sharks. This sort of informal banking, which has a long history in China, has become more popular as the economy slows, says Du Xiaoshan, deputy director of Rural Development Institute at the Chinese Academy of Social Sciences. "It's hard for small and rural businesses to get bank loans, so there's generally more informal lending happening," says Du. (Read "The Argument Over China...