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Banking / Investment in Northern America

  • Bank of America profit slides on weak trading

    UNITED STATES, 2016/04/15 Bank of America Corp, the No. 2 U.S. bank by assets, reported an 18 % slide in quarterly profit as concerns about a world economic slowdown and uncertainty about the pace of U.S. interest rate increases dampened bond and stock trading. The profit was in line with low expectations next what was widely being seen as the grimmest quarter for the banking industry since the 2007-08 financial crisis. Market volatility stemming from a slide in commodity and oil prices, worries about China’s economy and uncertainty about interest rates hit trading activity globally in the quarter, particularly in January and February.

  • Bank of Canada’s economic forecast in spotlight as rates appear on hold

    CANADA, 2016/04/15 Few forecasters, if any, are expecting the Bank of Canada to alter its current lending level this week. Instead, what central bank watchers will be looking for is how Stephen Poloz and his policy team view the federal government’s budget plans for 2016 and beyond — and will they jibe with the bank’s own updated forecasts to be published on Wednesday in its quarterly Monetary Policy Statement. That’s the same day Poloz will announce the bank’s decision on its trendsetting interest rate.

  • Investors look to January effect at start of 2016

    UNITED STATES, 2016/01/02 As Wall Street wraps up its flattest year since 2011, investors will have to transaction with a lot of of the same issues next year as they attempt to gauge market direction. While a lot of market participants have a host of worries heading into 2016 that could hurt stocks and keep volatility high, they remain optimistic for gains in 2016 and a strong start to the year could boost that case.

  • US private investment in Mozambique exceeded US$16 billion

    UNITED STATES, 2015/09/29 US private investment in Mozambique exceeded US$16 billion in the completed decade, the deputy minister for Foreign Affairs, Nyeleti Mondlane said Thursday in Maputo, the Mozambican press reported. “So far, 24 projects have been approved that are likely to create about 4 million jobs, involving private investors in the United States, totalling US$16 billion dollars in the oil and gas sector, agriculture, industry, transport, tourism and services,” said the deputy minister for foreign affairs. The level of trade relations is as well encouraging and both nations have recorded increase in trade, with exports of about US$62 million by Mozambique to the United States in 2012 to about US$144 million in 2013, said Mondlane speaking on the 40th anniversary of the establishment of diplomatic relations.

  • Senegal: PSE Blueprint Profiled for Investors & Policymakers

    DAKAR CITY, 2015/05/02 A briefing for investors and policymakers focusing on Senegal, hosted by AllAfrica on April 17, drew capacity attendance from private equity funds, companies, financial institutions and government agencies. A high-level government delegation provided an overview on Plan Senegal Emergent (PSE) - or Emerging Senegal Plan - a development blueprint developed by President Macky Sall and his team to accelerate the country's evolution toward emerging-market status and address inequities in gain and opportunity. The two-hour session was moderated by Dr. Mima Nedelcovych, president and CEO of the Initiative for World Development, an organization of major world corporations committed to poverty alleviation, and included opening statements by Alain Ebobisse, world chief of InfraVentures of the International Finance Corporation of the World Bank Group and Peter Barlerin, director of the Economic Policy Staff in the Africa Bureau of the U.S. National Department.

  • Snarky Ben Bernanke blog draws return fire from Wall Street critics

    UNITED STATES, 2015/05/02 Note to former Federal Reserve Chairman Ben Bernanke: Be careful about starting flame wars with people who buy ink by the barrel—or who have bigger servers than you do. Editorial writers at The Wall Street Journal fired back at Bernanke next the ex-central banker on Thursday accused them of consistently being wrong about their predictions of higher inflation since 2006. Au contraire, WSJ writers say. “We’re not always right. But we’ve been careful not to join some of our friends in predicting inflation from the Fed’s postcrisis policies,” they write in a Friday editorial called Bernanke’s Rebuttal.

  • Canada gives Mali 29 billion CFA francs for 4 projects

    CANADA, 2014/08/30 Canada and Mali have signed four Memorandums of Considerate totaling about 29 billion FCFA to finance four projects to promote socio-economic development in rural areas of the West African country. Official sources said the MOUs were signed on Wednesday by the Malian Minister of Foreign Affairs, African Integration and International Cooperation, Mr. Abdoulaye Diop and the Chargé d'Affaires of the Embassy of Canada in Mali, Mr Marc-Andre Fredette. The initial project entitled Support to Rural Inclusive Financing in Mali (AFIRMA) is part of a sectoral and inclusive approach to the development of microfinance.

  • Arab Bank Plc faces Hamas financing trial in U.S.

    JORDAN, 2014/08/21 Arab Bank Plc goes on trial next week in New York over claims that it provided material support to the Palestinian group Hamas, in what one of the plaintiffs' lawyers said is the initial terrorism financing case against a bank to go to trial in the United States. Almost 300 U.S. citizens who were the victims, or the family members of victims, of militant attacks allegedly committed by Hamas in Israel and the Palestinian territories between 2001 and 2004 sued the Amman, Jordan-based bank in 2004. About 200 other plaintiffs in the lawsuit with claims against the bank stemming from attacks blamed on the al-Aqsa Martyrs Brigades and other groups have not from presently on gone to trial.

  • Obama to Announce $14 Billion for Africa Investment

    UNITED STATES, 2014/08/06 US companies are planning $14 billion worth of investments in Africa. US President Barack Obama is set to announce the plans during the second day of the US-Africa Leaders Summit. President Obama is due to announce the investments later Tuesday during the second day of the summit in Washington, D.C., a White Home official said. The $14 billion (10.4 billion euros) investment by US companies will span a range of industries such as construction, clean energy, banking and data technology, the official said. The news comes one day next the initial US-Africa Leaders Summit opened. The forum was established with an aim to boost trade opportunities and forge stronger economic ties between Africa and the US.

  • James Bullard, the president of the St. Louis Federal Reserve Bank

    UNITED STATES, 2013/12/10 The Federal Reserve may taper their $85 billion dollar per month investment purchase plan next week in response to better-than-expected jobs increase, said James Bullard, the president of the St. Louis Federal Reserve Bank. Job increase in the month of November pushed the unemployment rate down to a five-year low of 7 %, the Labor Department reported on Friday.
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