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Obama taps Representative Watt as US housing regulator WASHINGTON: US President Barack Obama on Wednesday nominated a veteran Democratic congressman to oversee mortgage financiers Fannie Mae and Freddie Mac , a choice that could set up a contentious political debate over housing policy.Representative Mel Watt, a longtime consumer advocate who serves on the House Financial Services Committee, understands the roots of the housing crisis, Obama said at the White House."He knows what it's going to take to help responsible homeowners fully recover and he's committed to helping folks ... who work really hard, play by the rules, day in and day out, to provide for their families," he said.The 67-year-old North Carolina lawmaker is expected to face a tough confirmation battle in the Senate, where Democrats are likely to need some Republican support to get Watt approved.If confirmed, Watt would replace Edward DeMarco, a career civil servant who has led the Federal Housing Finance Agency in an acting ...

Videogames slow, reverse 'mental decay': study WASHINGTON: Playing videogames can prevent and even reverse deteriorating brain functions such as memory, reasoning and visual processing, according to a study released Wednesday.The University of Iowa study of hundreds of people age 50 and older found that those who played a videogame were able to improve a range of cognitive skills, and reverse up to seven years of age-related declines."We know that we can stop this decline and actually restore cognitive processing speed to ...
US holds what could be last Green Card lottery WASHINGTON: Around 100,000 people were chosen from several million Wednesday to get a head-start on a US Green Card, in what could be the last such annual lottery, slated to vanish under proposed reforms.Created in 1995, the lottery system leads to the awarding of 50,000 permanent residency permits each year to people from countries that send relatively few emigrants to the United States.But it has long been in the crosshairs of US Republican lawmakers, who ...
US Green Card lottery facing axe to name 2014 winners WASHINGTON: Around 100,000 people will be chosen from several million hopefuls to get a US Green Card on Wednesday, in what could be the last year of the annual lottery, slated to vanish under proposed reforms.Each year, 50,000 permanent residency permits are allocated to people from countries that see relatively few emigrants depart for the United States.Created in 1995, the lottery system aims to diversify the range of places from which people migrate to the ...
Obama to push trade, immigration on Mexico, Costa Rica trip WASHINGTON: President Barack Obama leaves for Mexico and Costa Rica Thursday, on a mission to deepen job-creating trade ties but also hoping to discuss US immigration reform, security threats and drug wars.The three-day trip will see Obama meet new Mexican President Enrique Pena Nieto, then hold his first summit with Central American leaders since the death of Washington's regional rival, Venezuela's Hugo Chavez, in March.Twenty years into the North American Free Trade Agreement (NAFTA), also ...
Mexico reiterates Asia focus after Japan FM meeting MEXICO CITY: Mexico's President Enrique Pena Nieto reiterated his country's desire to strengthen ties between Asia and Latin America in a meeting with Japanese Foreign Minister Fumio Kishida on Monday.The Mexican president recognized "the importance of advancing cooperation in Asia and Latin America" during the meeting, a statement released by Mexico's Foreign Ministry said.Pena Nieto, who visited China and Japan earlier in April, said Mexico had a renewed interest in "participating actively in the Asia-Pacific ...
At least seven dead in Mexico clashes MORELIA: At least seven people were killed Sunday in clashes between suspected criminals, security forces and citizen security groups in the western Mexican state of Michoacan, officials told AFP."The last report that we have is the seven people have been killed in gun battles, but that number is certain to rise," said a state government spokesman Julio Hernandez.Officials said the confrontations took place in the towns of Buenavista and Tepalcatepec, where armed citizens' patrols have ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln