Archive for January, 2009

SBI goes for the kill, cuts home loan rate to 8%

Happy days are here again for home buyers as the bank freezes the rate for a year. In a move that may trigger a rate war, State Bank of India today said it would charge 8 per cent interest on new loans for home buyers and small and medium enterprises for a year. (10 mins ago)

Unemployment up in area

MADISON – Unemployment rates increased in 70 of the state’s 72 counties during the month of December 2008. The two counties showing a decrease in unemployment were Green Lake, down 0.6 percentage points, and Florence, down 0.3 percentage points. (11 mins ago)

Jan 30 – Close: Dollar weakens further

The New Zealand dollar was the lowest it has been for six years today as the US dollar climbed and as Reserve Bank governor Alan Bollard signalled further interest rate cuts. (1 min to go)

New Zealand Cuts Key Interest Rate to Record-Low 3.5%

Jan. 29 — New Zealand reduced its interest rate by 1.5 percentage points to a record low, saying there’s room for further cuts to steer the economy out of a deepening recession. (47 secs to go)

Swiss Franc Declines To 8-day Low Against Pound

Wednesday in Asia, the Swiss franc fell to an 8-day low against the British pound. The franc also traded down against the euro, while it advanced against the yen and the dollar. (56 secs to go)

Treasury Two-year Yield Near Three-week High Before Record Sale

Jan. 27 — Treasury two-year yields were near the highest level in three weeks before a record $40 billion sale of the notes as the U.S. raises money to rescue the economy. (12 secs ago)

Geithner Debt Sales to Benefit From Paulson Failures

Corrects interest payment in 10th paragraph.) Jan. 26 — Former Treasury Secretary Henry Paulson’s inability to restore confidence in the financial system is creating unprecedented demand for U.S. debt as his successor prepares to sell the most bonds in history. (31 secs to go)

Gulf economies see year of contraction

25 January 2009 KUWAIT: For the GCC, 2009 will be a year of contraction. (24 mins ago)

New rules raise the bar for condo mortgages in Florida

Lending giant Fannie Mae is slapping tough new requirements on mortgages for Florida condos, moves that analysts believe will make it even more difficult to sell units in buildings already starved for residents and struggling financially. (8 mins ago)

King Says Boe Asset Buying May Start Soon Amid Slump

Jan. 21 — Bank of England Governor Mervyn King said officials may start buying assets within weeks to loosen credit markets as the lowest U.K. interest rates since 1694 fail to avert a marked? recession. (43 secs to go)