UK-based Banks to Start Offering New Loans to Eligible Onshore Wind Farms

Three UK-based banks will start offering new loans to eligible onshore wind farms today. Wind farm developers and the banks will have an opportunity to start brokering the deals at a forum in the city hosted by Ed Miliband and Chancellor Alistair Darling. The...

European Investment Bank Grants 2.6 Billion Dirham Loan to Morocco for Highway Projects

The European Investment Bank (BEI) has granted a 2.6 billion dirham loan (250 million Euros) to Morocco for the financing of highway projects in the country. The loan is dedicated to a three-lane construction of the 57-km highway between Casablanca and...

Mozambique, Portugal Agree to Setup $500m Investment Bank

Mozambique and Portugal have agreed to setup a $500 million investment bank to be based in the Mozambican capital Maputo in the first quarter of 2010. A memorandum of understanding was signed late on Wednesday by the Finance ministers from the two countries,...

European Investment Bank Annuls Mauritius Drainage Contract Grant

The European Investment Bank (EIB) has annulled the grant for a contract of €33.8 million which had been given to a joint venture to build a mains drainage system in the center of Mauritius. Official sources in Port Louis on Monday indicate that the...

“I’m All Right Jack!”

It is hard to imagine the Chutzpah of the Week award for this week going to anyone other than David Viniar, Chief Financial Officer of Goldman Sachs. (Yes, I suppose there are some who claim it is Charles Taylor‘s turn, but I did not see enough...

African Union Summit Urges Member States to Boost Economic Cooperation

The 12th African Union summit on Tuesday called for its member states to enhance their economic cooperation in a bid to harmonize their tax and macroeconomic policies to withstand global financial crisis.

Global Stock Markets Soar Over U.S. Bank Rescue Plan

Global stock markets that had been pummeled earlier in the week soared on Friday on news that a US government agency is to be created to take over the bad loans of U.S.-based commercial banks. VOA’s Barry Wood has more.

Citi Posts $5.1 Billion Loss; Late Mortgages More Than Double

The bleeding continued for a second straight quarter at Citigroup Inc. (C: 25.43, +5.83%), who said Friday morning that it lost $5.11 billion, $1.02/share, during the first quarter of 2008, thanks to a total of $13.9 billion in write-downs spanning mortgages...

Selective Bailouts: Help for Wall Street, Not Your Street – Political Opinion

As the Roaring Twenties were sowing the seeds of the Great Depression, the chronicler of that age, F. Scott Fitzgerald, famously remarked, “The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time,...