The kiwi dipped as low as US$0.7204 after Reserve Bank Governor Alan Bollard said “the pace and extent of further Official Cash Rate increases is likely to be more moderate than was projected in the June Statement.” The unit also took a hit when Bollard also said its recent appreciation “is inconsistent with the softening [...]
KARACHI: Country’s foreign exchange reserves fell for third straight week and have declined by almost $761 million to $14.48 billion from $15.24 billion recorded in the week ended January 22, 2010. Reserves held by the State Bank of Pakistan (SBP) fell to $10.70 billion from $11.44 billion as witnessed three week earlier, while those held [...]
LAHORE: At least three dacoits, accused of plotting a bank robbery in new campus of Punjab University, were rounded up in Lahore on Thursday . The arrested accused told police they were hailing from Sheikhupura. An employee of Punjab University namely Imran had called them to rob the bank, they said. We got panic over [...]
Regulators in Minnesota closed 1st American State Bank late Friday in the 16th bank seizure of the year. The $18 million-asset bank, based in Hancock, was the third institution to be closed in the state this year. The Federal Deposit Insurance Corp. said Community Development Bank FSB in Ogema would take over 1st American’s operations. [...]
US banking giant, Bank of America (BoA), has been sued by the New York Attorney General, Andrew Cuomo, for defrauding investors and the Government over its takeover of Merrill Lynch. BoA, and two of its senior executives, Ken Lewis and Joseph Price, have been accused of “enormous fraud” on taxpayers and shareholders over the takeover [...]
