Browsing All Posts By Kurt Osterberg
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New Zealand’s ‘Madoff’ jailed for $13m fraud
A New Zealand banker defrauded clients of $13m to fund a lavish lifestyle of prostitutes, property and wine, according to local media. Stephen Gerard Versalko, 52, was convicted of stealing NZ$17.8m f... -
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Malaysia plans new economic model for growth
Malaysia is considering proposals to end its subsidy regime and phase in a new goods and services tax as it begins dismantling a four-decade race-based economic system that has deterred foreign invest... -
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IMF: Tanzania has room for infrastructure funds
Tanzania has scope to raise spending on infrastructure projects in the fiscal year starting in July against a background of higher economic growth and slowing inflation, the IMF has said. The east Afr... -
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Madoff family seeks dismissal of cases
Andrew and Mark Madoff, sons of fraudster Bernard Madoff, have submitted a request with a US court to dismiss all the complaints against them, with prejudice, court documents showed. In a filing with ... -
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Australia welcomes China report into Chinalco de
Australia has welcomed a report saying that China did not blame Rio Tinto or the Australian government for the collapse of a $19.5bn tie-up between Chinalco and the Australian mining giant. The Austra... -
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Schaeuble calls for closer Eurozone integration
German Finance Minister Wolfgang Schaeuble called for greater integration between euro zone members and stronger surveillance of member countries’ finances to protect the monetary union from further... -
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US bailout watchdog criticises Treasury over GMAC
The US Treasury’s decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an oversight group said on Thur... -
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Chinese bankers told to curb pay to rein in risks
China on Wednesday unveiled strict new rules governing bankers’ pay that are designed to limit risk taking. Payment of 40 percent or more of an executive’s salary must be delayed for a minimum of ... -
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BOJ mulling easing again
The Bank of Japan is examining a further easing of its ultra-loose monetary policy and may decide on such a move this month, the Nikkei newspaper reported, weakening the yen and lifting government bon... -
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EU trade chief sees progress in India FTA talks
A free trade agreement with the European Union could create new export opportunities worth $9bn for Indian industries, EU trade chief Karel de Gucht said. De Ducht, on a visit to India, said he expect...
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