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Showing posts from June, 2011

China & INDIA rising fast rising in the world banking sector

The global financial crisis has definitely  hastened the  economic changing of the guard, putting China and India at the top of the world banking industry, according to international consultancy PricewaterhouseCoopers.
"The emerging economies' banking sectors are expected to outgrow those in the developed economies by an even greater margin than we projected before the financial crisis,"
PWC report on Banking industry and China and INDIA emerging banksPWC, in its just released  report "Banking 2050", says the accelerating shift in economic power from the developed to emerging economies ( like India China Brazil) is dramatically changing the  world banking industry. PWC's analysis suggests China and India could have a combined share of around 35 per cent of global banking assets by 2050.

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian financial services industry. It oversees banks, credit unions, building so…

End of year losses & europe crisis takes Australian markets down

US manufacturing data and continued concerns about Greece's escalating debt crisis culminating with  aussie traders and punters  taking in the yearly losses  before the end of financial year played a heavy toll on the Australian markets todayEnd of year profit or loss taking and Euro zone Greece concerns bring down marketWeak manufacturing data coming in from the US and protests in Greece, as euro-zone finance ministers failed to agree on a second bailout package for the debt-laden nation, set a negative tone for the local market in australia.The sell-off was driven by a savage offloading of resources and financial stocks. BHP Billiton lost 89 cents, or 2.1 per cent, to $42.00 and Rio Tinto dropped $1.68, or 2.1 per cent, to $78.40. NAB lost 39 cents to $24.26, ANZ dropped 47 cents to $21.35, Westpac shed 64 cents to $21.10 and Commonwealth Bank ended $1.06 lower at $49.26.The Australian dollar was caught up in the negative sentiment, falling to $US1.0526, down from $US1.0688 on y…