Budapest - The Hungarian National Bank cut its base rate by fifty basis points to 9.5 per cent at its monthly rate-setting meeting on Monday, in line with the expectations of analysts.
The deputy governor of the bank, Ferenc Karvalics, told the press that the monetary council had considered three possible cuts of 50, 75 or 100 basis points before settling for the most cautious option.
A basis point is defined as one hundredth of a per cent.
London - The British government Monday launched a second multibillion-pound package to stabilize banks in an attempt to unlock credit markets, stem the rise of so-called toxic assets and ward off a deepening recession.
The measures were announced as the Royal Bank of Scotland (RBS), Britain's third-largest bank, announced what would be the biggest loss in British corporate history.
London - The British government Monday launched a second multibillion-pound package to stabilize banks aimed at unfreezing credit markets and softening the blow of a deepening recession.
Among the measures set out by Chancellor of the Exchequer Alistair Darling is a massive insurance scheme to protect banks from so-called toxic assets, a move it is hoped will encourage institutions to restart lending to businesses and households.
It is the second bail-out for the banks in the space of just three months. A banking recapitalization programme announced in October had failed to provide a sufficient platform for normal lending to resume.
Dublin - Anger is rising in Ireland after the latest body blow to the economy with the panic nationalization of the scandal-hit Anglo Irish Bank, the country's third-largest bank.
Enraged Anglo Irish shareholders are demanding the resignation of the bank's directors and threatened legal action after it emerged that undisclosed loans to the bank's former chairman Sean Fitzpatrick totalled 129 million euros (171.5 dollars).
Federal Bank was immensely helped by the sharp rise in other income and lower interest income to approximately double its net profit for the third quarter ending December 31, 2009 to Rs 203.89 cr from Rs 102.92 cr the previous fiscal.
The net profit of the bank had a rise by 45.67% to Rs 386.32 crore for the nine month ended December 31.
There was an increase by 94% to Rs 164.81 cr from Rs 84.95 cr the previous year in the other income of the bank for the quarter while an increase by 35.11% was noted in the interest income.
Belgrade - The governor of Serbia's central bank on Saturday welcomed a 530.3-million-dollar standby loan from the International Monetary Fund to help it weather the global financial crisis, calling it a "positive mark" for Serbia's economy.
The IMF approved the loan on Friday. Under the deal, 353.3 million dollars would be immediately available to Serbia. However, the government has said it only plans to tap the 15-month standby arrangement if absolutely necessary.
"There is still no need to use those funds," central bank governor Radovan Jelasic told Belgrade media.
Budapest - The Hungarian National Bank cut its base rate by fifty basis points to 9.5 per cent at its monthly rate-setting meeting on Monday, in line with the expectations of analysts.
London - The British government Monday launched a second multibillion-pound package to stabilize banks in an attempt to unlock credit markets, stem the rise of so-called toxic assets and ward off a deepening recession.
Dublin - Anger is rising in Ireland after the latest body blow to the economy with the panic nationalization of the scandal-hit Anglo Irish Bank, the country's third-largest bank.
Federal Bank was immensely helped by the sharp rise in other income and lower interest income to approximately double its net profit for the third quarter ending December 31, 2009 to Rs 203.89 cr from Rs 102.92 cr the previous fiscal. 
Belgrade - The governor of Serbia's central bank on Saturday welcomed a 530.3-million-dollar standby loan from the International Monetary Fund to help it weather the global financial crisis, calling it a "positive mark" for Serbia's economy.
