FARI week 5
FARI week 5 FARI week 5 With the US Treasury moving to shore up the US housing market, its action will inevitably also offer a boost to mortgage provision around the world. In time it should help to restore both confidence and available funds in the global credit market. Overseas commercial banks - especially those in China and Japan - have directly invested billions of dollars in Freddie Mac and Fannie Mae. Chinese banks have been among the first to welcome the US government's move. China's commercial lenders have in recent years become the biggest overseas investors in Freddie Mac and Fannie Mae as part of their wider purchase of US bonds. China's three largest lenders - Industrial & Commercial Bank of China (ICBC), Construction Bank of China, and Bank of China - have $10.5bn (£5.9bn) directly invested in Freddie Mac and Fannie Mae between them. http://news.bbc.co.uk/1/hi/business/7603754.stm Immigrant laborers from North Africa, Latin America and Eastern Europe are being offered the opportunity to go to their home countries with a lump-sum benefit payment worth around €18,000, and not return for three years. This applies to the citizens of the 19 non- European Union’s country that share social security agreements with Spain. So, any takers for the government's new offer to unemployed immigrants? For the time being, the 2.1 million foreigners registered for Spanish social security are net contributors to the system - paying in more than they receive. But, over the past 12 months, the number of immigrants claiming unemployment benefit has surged by 81%, to 178,230 in July 2008. http://news.bbc.co.uk/2/hi/europe/7568887.stm From: Escenarios51 Views: 104 0 ratings Time: 05:49 More in News & Politics published_at Mon Sep 15 18:24:28 UTC 2008 keywords: read, john, news, FARI, escenarios, week duration: 00:05:49