By The Associated Press – Tue Feb 22   A look at economic developments and activity in major stock markets around the world Tuesday: ___ CAIRO — Egypt’s stock exchange postponed its already long-delayed reopening until next week and markets in the Gulf Arab region posted their third consecutive day of declines […]

By Agency Reporter Wednesday, 23 Feb 2011 NEW YORK: Bank of America Corporation, the biggest United States lender by assets, almost doubled a goodwill impairment for its credit card unit to $20.3bn to reflect increased defaults and an almost two-year-old change in rules. The bank restated federal regulatory filings to […]

By Oluwole Josiah, Abuja Wednesday, 23 Feb 2011 The Nigeria Deposit Insurance Corporation has commenced negotiations with the Asset Management Corporation of Nigeria on the purchase of N85bn of the N162bn debts being owed liquidated banks. The Acting Managing Director, NDIC, Alhaji Umaru Ibrahim, who disclosed this, said that the […]