A new International bank called BRICS (An acronym for the economies of Brazil, Russia, India, China and South Africa combined) was recently launched in an apparent effort to break the dominance of the US dollar in global trade, as well as dollar-backed institutions such as the International Monetary Fund (IMF) and the World Bank. The […]
RIL Further Boosts J3 Expansion through a Strategic Partnership with Siemens
Reliance Industries Limited(RIL) has confirmed orders worth INR 228 Crores with Siemens Ltdto further expand the J3 Petrochemical Complex at Jamnagar, Gujarat. Siemens will be supplying steam turbine generation units to RIL refineries in Gujarat. The scope of this order includes designing, manufacturing, supplying and commissioning 4 of its SST-600 steam turbine generation units. These […]
Nigerian Banking Bailout and The Anatomy of Toxic debt
http://www.afripol.org/afripol/item/191-nigerian-banking-bailout-and-the-anatomy-of-toxic-debt.html Nigerian Taxpayers to buy $14.6 Billion of Toxic Debt Taxpayers of Nigeria will be exposed to toxic debts of the past rescued banks and the Nigeria’s Asset Management Corporation (AMCON) is expected to buy $14.6 billion of bad debt to recapitalize the rescued banks. The Asset Management Corporation is a state-owned entity that was […]
Getting out of Debt
One common problem which inflicts a vast majority of the people irrespective of caste, creed or nationality is the debt burden. While developing countries feel the heat arising out of poverty, affluent nations face it out of consumerism. The aftermath of this burden manifests itself in varying consequences, from suicides to bankruptcy. It destroys […]
Banks or Money Lenders : What is the Difference
Many decades ago, Nobel Prize winning Indian Poet Rabindranath Tagore wrote a short story titled Kabuliwallah, based on the life of the Afghan money lenders who used to do brisk business in undivided India. The story became so well known that it was later made into a movie starring Balraj Sahni Largely illiterate, through a complicated […]
Simple Steps to Get Approved for a Business Loan in the Era of Low Approval Rates
The Great Recession took its toll on businesses around the world. It made it increasingly more difficult for businesses to get loans. Banks, credit unions and other financial institutions have been much more hesitant to lend money to companies without the right actuarial data. The credit crunch has eased a bit, but some experts are […]
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