Central Banking

Central BankingBay Ledger News Zonebill@blnz.comtag:www.blnz.com,2009:topics/central_bankingCyprus MPs study bailout 'Plan B' as meltdown loomstag:www.blnz.com,2009:2013/03/22/Cyprus_study_bailout_Plan_meltdown_bc60

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.

2013-03-22T08:39:33ZAFP Global Editionby Charlie CharalambousCyprus launches banking overhaul as meltdown loomstag:www.blnz.com,2009:2013/03/21/Cyprus_launches_banking_overhaul_meltdown_cd56

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.

2013-03-22T03:17:57ZAFP Global Editionby Charlie CharalambousIMF urges Iraq to bolster non-oil sectortag:www.blnz.com,2009:2013/03/21/urges_Iraq_bolster_non-oil_sector_e5c5

The IMF forecast Thursday that Iraq's economy would grow around nine percent this year helped by surging oil production, but said Baghdad needs to do more to support private, non-oil business.

2013-03-21T22:19:05ZAFP Global EditionBy Staff ReporterS&P cuts Cyprus rating as banking meltdown loomstag:www.blnz.com,2009:2013/03/21/cuts_Cyprus_rating_banking_meltdown_ec3b

Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.

2013-03-21T21:27:18ZAFP Global EditionBy Staff ReporterUS stocks drop on Cyprus, weak earningstag:www.blnz.com,2009:2013/03/21/stocks_drop_Cyprus_weak_earnings_24e0

US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.

2013-03-21T20:54:52ZAFP Global EditionBy Staff ReporterOverhaul of Cyprus banks on cards as meltdown loomstag:www.blnz.com,2009:2013/03/21/Overhaul_Cyprus_banks_cards_meltdown_bc0d

Cyprus Thursday was examining an overhaul of its banking sector to avoid financial meltdown after the European Central Bank threatened to pull the plug on emergency funding for the island's banks.

2013-03-21T18:24:50ZAFP Global Editionby Charlie CharalambousCyprus brinksmanship could spin out of control: analyststag:www.blnz.com,2009:2013/03/21/Cyprus_brinksmanship_could_spin_control_8fce

As the EU raised the spectre of a eurozone exit for Cyprus, experts warned on Thursday of the consequences of brinksmanship from Brussels to Moscow in the race to fix new bailout terms.

2013-03-21T17:41:29ZAFP Global EditionBy Staff ReporterOfficial clears Indian banks of money-launderingtag:www.blnz.com,2009:2013/03/21/Official_clears_Indian_banks_money-laundering_acc9

A senior Indian central bank official cleared three private banks of money-laundering on Thursday after an undercover media investigation led to the suspension of dozens of their employees.

2013-03-21T17:31:05ZAFP Asian EditionBy Staff ReporterEuropean stocks retreat on disappointing data, Cyprustag:www.blnz.com,2009:2013/03/21/European_stocks_retreat_disappointing_data_ce55

European stock markets slid Thursday as disappointing eurozone data and the Cyprus bailout impasse overshadowed strong Chinese economic performance.

2013-03-21T17:17:04ZAFP Global EditionBy Staff ReporterSpanish banks see profits after 'horrific' 2012tag:www.blnz.com,2009:2013/03/21/Spanish_banks_profits_after_horrific_496f

Spain's battered banks predicted Thursday they will turn a profit this year after a "horrific" 2012 in which the overall industry recorded losses for the first time in its history.

2013-03-21T17:15:44ZAFP Global Editionby Amelie BaubeauSpain borrowing costs dip despite Cyprus crisistag:www.blnz.com,2009:2013/03/21/Spain_borrowing_costs_despite_Cyprus_a931

Spain's borrowing costs dipped in a bond auction Thursday, easing concerns that a feared banking meltdown in Cyprus could scare investors away from other troubled eurozone states.

2013-03-21T16:23:11ZAFP Global EditionBy Staff ReporterCyprus banks face meltdown as ECB ready to pull plugtag:www.blnz.com,2009:2013/03/21/Cyprus_banks_face_meltdown_ready_b114

The European Central Bank warned Thursday it was ready to pull the plug on emergency funding for Cyprus banks as the island's politicians scrambled to raise billions of euros to head off financial meltdown.

2013-03-21T14:42:14ZAFP Global Editionby Charlie CharalambousEuropean stocks head lower againtag:www.blnz.com,2009:2013/03/21/European_stocks_head_lower_again_7d19

European stock markets slid Thursday as traders looked past strong Chinese economic data to focus on bleak eurozone news, notably fallout from the Cyprus bailout impasse.

2013-03-21T14:34:45ZAFP Global EditionBy Staff ReporterNew BoJ chief pledges 'all-out efforts' on deflationtag:www.blnz.com,2009:2013/03/21/chief_pledges_all-out_efforts_deflation_47f4

The Bank of Japan's new governor Haruhiko Kuroda on Thursday pledged "all-out efforts" to rid Japan of growth-sapping deflation as gloomy new trade data underlined the scale of the task ahead.

2013-03-21T13:18:27ZAFP Asian Editionby Hiroshi HiyamaAsian markets lifted by China manufacturing datatag:www.blnz.com,2009:2013/03/21/Asian_markets_lifted_China_manufacturing_b905

Asian markets were mixed Thursday as Chinese data showing manufacturing activity in the world's number two economy picked up in March, while Tokyo was lifted by renewed weakness in the yen.

2013-03-21T11:23:25ZAFP Asian Editionby Danny McCordCyprus weighs new bailout plan as meltdown loomstag:www.blnz.com,2009:2013/03/21/Cyprus_weighs_bailout_plan_meltdown_4ab8

Cyprus was on Thursday fine-tuning a "Plan B" aimed at securing a eurozone bailout that the European Central Bank warned should be adopted by the weekend to avoid a banking meltdown on the debt-hit island.

2013-03-21T11:00:41ZAFP Global Editionby Charlie CharalambousCyprus poses 'systemic risk': Eurogroup chieftag:www.blnz.com,2009:2013/03/21/Cyprus_poses_systemic_risk_Eurogroup_b42c

Eurogroup head Jeroen Dijsselbloem said Thursday that the Cyprus debt crisis poses a "systemic risk" that threatens to ricochet right through the eurozone.

2013-03-21T09:19:39ZAFP Global EditionBy Staff ReporterCyprus to decide on new plan aimed at securing bailouttag:www.blnz.com,2009:2013/03/20/Cyprus_decide_plan_aimed_securing_6a78

Cypriot leaders are to decide on Thursday on a newly drawn up plan aimed at securing a bailout for the near-bankrupt eurozone member, after parliament rejected a controversial tax on savings.

2013-03-21T03:19:50ZAFP Global EditionBy Staff ReporterJapan logs $8.1 billion trade deficit in Februarytag:www.blnz.com,2009:2013/03/20/Japan_logs_81_billion_trade_4e9b

Japan logged another trade deficit in February, this time of $8.1 billion according to the latest figures, reversing a year-earlier surplus and underscoring the uncertain state of the world's third-largest economy.

2013-03-21T02:09:39ZAFP Global EditionBy Staff ReporterStocks rise as Fed keeps aggressive easing in placetag:www.blnz.com,2009:2013/03/20/Stocks_rise_keeps_aggressive_easing_d05e

US stocks recorded solid gains Wednesday as the Federal Reserve held steady on its policy of economic stimulus.

2013-03-20T20:40:01ZAFP Global EditionBy Staff Reporter