| Monetary policy and political consensus - Cullen
Address to the Wood Processors Association of New Zealand Annual Conference, Civic Suite, Wellington Convention Centre, 111 Wakefield St, Wellington. 10:00am Thursday 22 November 2007. Good morning and thank you for that introduction and for the invitation to speak to you today. You have invited me here today to speak about the government’s view on monetary policy. This has certainly been among the most significant issues in the economic debate in 2007, and I know for the Wood Processors Association it has arguably been the most significant issue of concern to your membership. I will keep my comments brief to allow plenty of time for your questions. .
Local banking industry sees slip in customer deposits
Hawaii's banking industry saw deposits slip in the first nine months of the year, as two of the three largest banks reported declines. Overall deposits in local banks dipped to $26.8 billion, down 0.6 percent during the nine months ending Sept. 30, according to the Hawaii Bankers Association. Local bank executives pointed to a nationwide trend of slowing deposit growth led by customers interested in paying down debt and migrating to high-yield investments. At American Savings Bank deposits fell to $4.4 billion, down 4.1 percent from last Dec. 31. Bank of Hawaii slipped to $8 billion, down 1.8 percent. Territorial Savings Bank saw deposits drop to $912 million, down 9.9 percent. .
Kenya: Sasini Taps Into Bond Market for Sh600 Million
Sasini Tea and Coffee Ltd has launched a Sh600 million five-year corporate bond, becoming the third firm to tap into the country's budding bond market for financing in the last one month. Sasini will be looking to replicate the success of PTA Bank and Barclays Bank, who have issued corporate bonds that were oversubscripted. Hit by lower export earnings from a weakening dollar and cyclic weather conditions, Sasini Tea is looking to invest the proceeds from the bond into value addition processes. "We are looking to reduce the various exposures that we have faced by going into value addition of our coffees and teas," said Mr Peter Muthoka, the managing director. .
Small Biz Tax Planning May Be Complex
Nov. 21, 2007 (Associated Press) NEW YORK - Many small business owners meeting with their accountants this month and next may find that year-end tax planning and projections for 2008 are a little more complicated than usual because of the uneasy economy. .
Barbados National Bank s profit surges
RATED the most profitable commercial bank in Barbados for 2006, the Barbados National Bank (BNB) is reporting another year of solid and steady performance for 2007. However, its CEO in highlighting the banks growth, is also urging caution as the country moves to undertake financial liberalisation. Yesterday, Robert Le Hunte, the BNBs CEO and Managing Director, told a news conference at the Banks Independence Square Branch that 2007 saw after tax profits of the BNB surging to $53.1 million. The amount for 2006 was restated to $48 million. This is a major feat for the commercial banking industry in the island, as no other bank has ever registered that level of profitability. The BNB has witnessed a number of positive growth indicators for the year, with net interest income standing at $96 million, a 10.69 per cent increase.
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