| Belvedere Capital to Acquire a Majority Interest in Professional ... | | Posted Friday, February 02, 2007 12:46:45 PM by Blog57 Team | | SAN FRANCISCO -- Professional Business Bank (OTCBB: PBBK), a full-service bank serving Southern California businesses, and Belvedere Capital Fund II L.P., a financial services-focused private equity firm, announced today that they have signed a definitive agreement for an affiliate of Belvedere to acquire a majority interest in Professional Business Bank for a combination of cash and stock. Belvederes investment will provide the resources for additional hiring, branch expansion and acquisitions to support Professional Business Banks goal of becoming Southern Californias premier business banking franchise. This transaction is consistent with our long-term growth plan and is beneficial to our shareholders. Belvedere will bring additional expertise and capital to support our growth and provide the opportunity for our shareholders to continue to participate in the expansion of our platform, William Baribault, Chairman of Professional Business Bank said.... | |
| |
| | | Thai 1-year c.bank bond yield down, rate hopes stay | | Posted Tuesday, January 23, 2007 2:46:38 PM by Blog57 Team | | BANGKOK, Jan 23 (Reuters) - The yield on one-year Thai central bank bond yield was lower at Tuesday's auction than the previous sale as hopes of more interest rate cuts highlighted the attractiveness of low-risk, fixed-income bonds, dealers said. The average accepted yield on 30 billion baht ($833 million) of 364-day central bank bonds dropped to 4.537 percent from 4.895 percent at the previous auction on Jan 9, before the central bank cut its policy rate last Wednesday. But the bid-to-cover ratio dipped to 1.52 times the amount on offer from 3.02 times. An auction of 20 billion baht of 11-day central bank bonds fetched a relatively good result, with an average yield of 4.74 percent and the bid coverage of 2 times the amount on offer. That compared with a yield of 4.97 percent of 14-day bonds auctioned last Tuesday.... | |
| |
| | | Eilux Cylindrical Winder (Metallic Black) | | Posted Tuesday, January 23, 2007 12:11:45 PM by Blog57 Team | | Eilux Cylindrical Winder ($138) 1-Watch Winder, Metallic Silver, LCD Dust Cover View all 1-watch winders A combination of dependability and price, you'll appreciate this extremely-quiet, single-watch winder. The Eilux Cylindrical (round) winder offers much of what youll get with more expensive winders without breaking the bank. It operates on its base (shown in photo) for easy viewing. Click on photos to view larger image. The Eilux Cylindrical Winder is suitable for all automatic watches. It is programmable, allowing you to select the optimum winding pattern for the watch being wound. You may select clockwise, counter-clockwise, or bi-directional winding. It is factory preset at 900 Turns Per Day (TPD) The round winder includes a viewing window and LCD clock in the lid, patented self-adjusting watch mount, watch mount adapter for larger wrist sizes, and an one-year warranty (extendable additional three years) from the U.S. Distributor. Finally, you'll appreciate the protective cloth bag, helpful owners manual, and protective packaging that exceed the offerings of other winder manufacturers. The Eilux Cylindrical Winder operates up to eight months on two (2) C-cell batteries, or optional AC Adapter. Dimensions: 8.25 x 4.25 x 4.25 (inches) Weight: 1 lb. 5 ounces This model also available in black leather. Go to Eilux watch winder page.... | |
| |
| | | Official: inflation figure isn't trusted | | Posted Friday, January 05, 2007 12:47:04 PM by Blog57 Team | | The Government's top statistician has conceded that many people do not believe that official inflation figures reflect recent sharp rises in the cost of living. Coming in the same week that commuters have been stung by soaring rail fares, the admission will add to concerns that expectations of higher prices could trigger an inflationary spiral in the wage bargaining round that begins this month. .... | |
| |
| | | ICICI Bank hikes NRE, FCNR deposit rates | | Posted Tuesday, January 02, 2007 2:46:42 PM by Blog57 Team | | Mumbai, Jan 2: ICICI Bank has increased interest rates on non-resident external (NRE) and foreign currency non-resident (FCNR) fixed deposits with effect from January 1.Interest rates on NRE fixed deposits have been increased by up to 0.19 per cent for various maturities, the bank said in a release here.As per revised rates, interest rate on NRE deposits of 12-18 months and 18-24 months has been increased to 6.33 per cent from 6.24 per cent and 6.12 per cent respectively.Interest rates on deposits of 24-36 months have been raised to 6.16 per cent from 6 per cent earlier and for 36-120 months increased to 6.08 per cent.Interest rate on one-year FCNR deposits denominated in US Dollars have been increased to 5.33 per cent from 5.24 per cent, on two-three years to 5.16 per cent from 5 per cent, for three-four years to 5.08 per cent from 4.91 per cent, for four-five years 5.07 per cent from 4.89 per cent.... | |
| |
| | | Australian Central Bank Interest Rate Increase Statement (Text) | | Posted Friday, December 01, 2006 12:46:37 PM by Blog57 Team | | Nov. 8 (Bloomberg) -- Following is the text of Reserve Bank of Australia Governor Glenn Steven's statement accompanying the bank's decision to raise the overnight cash rate target a quarter percentage point to 6.25 percent today: ``At its meeting yesterday, the Board decided to increase the cash rate by 25 basis points, to 6.25 percent. The decision was taken against a background of continued expansion in the global economy and further evidence that inflationary pressures had increased. The world economy has grown strongly in 2006 and is generally expected to grow at an above-average pace in 2007. Although growth in the United States has moderated recently, strong conditions are prevailing in other parts of the world. The global expansion has contributed to high levels of commodity prices, which continue to add to incomes and spending in Australia.... | |
| |
| | | ECB's Wellink Says Euro-Region Interest Rates `Damn Low' | | Posted Tuesday, November 14, 2006 10:46:30 PM by Blog57 Team | | Nov. 14 (Bloomberg) -- European Central Bank council member Nout Wellink said interest rates in the dozen euro nations are still ``damn low,'' suggesting he may support further increases next year. ``The underlying tendency is still an inflation rate above 2 percent,'' said Wellink in an interview yesterday after giving a speech at the Dutch University of Groningen. ``It is our firm intention to bring it again below or close to 2 percent,'' he said, referring to the bank's inflation limit. Wellink and other ECB council members including President Jean-Claude Trichet are preparing the ground for the sixth rate increase in a year next month as the fastest growth since 2000 and excess money supply threaten to fuel inflation. Futures trading shows investors expect a further move in 2007, which would take the ECB's key rate to 3.75 percent.... | |
| |
| | | Bangladesh c.bank asks lenders to cut interest for SMEs | | Posted Monday, November 13, 2006 6:46:53 PM by Blog57 Team | | DHAKA, Oct 13 (Reuters) - Bangladesh's central bank has asked commercial banks to lower interest on loans to small and medium enterprises (SMEs), a senior official said on Monday. "SMEs are very important for us as they provide huge employment in our densely populated country," Murshid Kuli Khan, an executive director of Bangladesh Bank, told Reuters. Currently, the banks charge the SMEs interest of between 11 percent and 22.5 percent. The central bank wants the rates reduced to single digits. "It is recognised that the country's estimated 6 million SMEs and micro enterprises -- firms with less than 100 employees -- have a significant role in generating growth and jobs," an Asian Development Bank (ADB) document said. Bangladesh's SME sector contributed up to 25 percent of the country's GDP last year, about 40 percent of manufacturing output, 80 percent of industrial jobs, and around 25 percent of the total labour force, the ADB said.... | |
| |
| | | Bank of England Lifts Interest Rates | | Posted Sunday, November 12, 2006 2:46:39 PM by Blog57 Team | | The Bank of England lifted its key interest rate by a quarter of a percentage point to 5 percent on Thursday in a bid to restrain rising inflation. The bank's monetary policy committee last hiked rates in August, when it also announced a quarter of a percentage point rise. That increase was the first change to rates in a year. Thursday's move was widely predicted by analysts, who have been warning for some months about inflation in Britain's buoyant economy. Inflation stood at 2.4 percent in September and the bank said Thursday that prices were likely to rise further above its 2 percent target in the near term, but then fall back as energy and import price inflation abate. The bank also cited moderate expansion in the housing industry, recovery in business investment and a positive outlook for growth in Britain's main export markets.... | |
| |
| | | Forecasting monetary policy a taxing concern for central banks | | Posted Sunday, November 12, 2006 12:48:40 PM by Blog57 Team | | SHOULD the Reserve Bank tell markets, investors and borrowers what it thinks the future path of interest rates will be? Markets are split, between those who think this week's rate rise is the last in this cycle and those convinced there is at least one more to come in the first quarter of next year. Since the RBA believes in transparency, as most central bankers say they do these days, should Glenn Stevens be offering guidance to resolve this uncertainty? How they should communicate with markets is something that central bankers spend a lot of time thinking and talking about. The US Federal Reserve, for example, has frequently agonised over the wording in its monetary policy statements. It extended its October Federal Open Markets Committee meeting by a day to again review how it communicates its decisions and policy thinking.... | |
| |
| |
|
|
