The World Bank (WB) Board of Directors approved today a package of three initiatives totaling US$713.24 million meant to bolster Mexico’s “green” efforts in energy, transportation and the environment –all of them areas seen as strategic because of their close association with the effects of climate change.
Australianimporters and exporters remain optimistic the Australian Dollar (AUD) will continue its upward trend, according to Commonwealth Bank’s Aussie Dollar Barometer report released today.
The Barometer tracks medium-sized importers and exporters’ exposure to the Australian dollar, their expectations for the currency and hedging plans for managing foreign exchange risk.
Today the Independent Evaluation Group (IEG) released “The World Bank Group’s Response to the Global Economic Crisis”—an appraisal of the significant role the World Bank Group (WBG) has played in addressing the global economic downturn. IEG’s evaluation shows that the organization has sought to achieve three objectives:
- 3Q underlying net result of EUR 1,043 million vs. EUR 727 million in 3Q2009 and EUR 1,202 million in 2Q2010
- Net result of EUR 371 million impacted predominantly by goodwill write-down of EUR 513 million related to Insurance US
- Net profit per share amounted to EUR 0.10; excluding goodwill write-down the net profit per share rose to EUR 0.23
Standard Chartered Bank today announced the launch of the first Islamic US Dollar nostro account in the United States. Islamic banks across the world will now be able to earn Shariah-compliant profits on their account balances at Standard Chartered Bank New York by using this facility.
The facility will operate on the Islamic finance principle of commodity Murabaha. Profits will be paid on a monthly basis.