Banking and Finance
Tough year predicted for French property market in 2012
With Credit Agricole, one of France’s biggest banks, forecasting a national fall in property prices of 5 to 6% next year with an 8% fall in overall sales, the French real estate market could face a tough year.
World Bank to Finance Private Sector Growth Policies in Rwanda
The World Bank Board of Executive Directors approved financing to the Government of Rwanda in the amount of US$125 million. The Eighth Poverty Reduction Support Financing (PRSF-8) will help the Government’s implementation priorities in its medium term strategy, the Economic Development and Poverty Reduction Strategy (EDPRS). Given Rwanda’s status as a blend country, US$60 million of the funds are on IDA grant terms and US$65 million are on IDA credit terms.
Central bank refutes rumors of discontinuing financial firms
The banks supervising agency of the State Bank of Vietnam on Tuesday denied recent rumors of abandoning financial companies in the country.
State Bank pushes lower lending rates
The State Bank of Viet Nam (SBV) has requested that commercial banks and credit institutions slash lending interest rates for the production sector to between 17 per cent and 19 per cent per year, as promised by Nguyen Van Binh, SBV Governor.
State Bank caps deposit interest rate at 14 percent
State Bank of Vietnam on September 28 issued a Circular to cap the maximum VND deposit interest rate in all credit institutions and foreign banks at 14 percent.