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BRICS Group To Establish New Development Bank

AFRICANGLOBE - Leaders of the BRICS group of emerging powers on Tuesday created a Shanghai-based development bank and a reserve fund seen as counterweights to Western-led financial institutions.

Emergency Manager Outlines Scorched Earth Policy On Detroit Talk Show

AFRICANGLOBE - Appearing Sunday on the Detroit local news talk show “Flashpoint,” Detroit Emergency Manager Kevyn Orr outlined his plans to attack public employee pensions and sell off public assets, including the artwork of the Detroit Institute of Arts (DIA) to further enrich the big financial institutions and consulting firms involved in the bankruptcy case.

South Africa: Govt Desperate for Black Industrialists

Government should help create South Africa's own Black industrialists, President Jacob Zuma said in Johannesburg. "There are many financial institutions that are under the control...

Competition Spurs Access to Banking And Innovation in Africa

Competition among financial institutions is intensifying in Africa as more governments relax barriers to entry and open their countries' banking sectors to new players. The flurry of fresh entrants in some countries is credited with helping to drive down banking charges