Like all dictators he stashed cash all over the world True to the deeds of all dictators, Gaddafi “took” and hid money out of his country. The Gaddafi family could have billions of dollars of funds hidden in secret bank accounts in Dubai, south-east Asia and the Persian Gulf, much of it likely to have come from Libya’s vast oil revenues, according to analysis by leading Middle East experts. Figures being bandied about in the immediate aftermath of Gaddafi’s death are reaching $160 billion and it will no doubt be along time before the real figure is known.   Shortfall in oil revenues Professor Tim Niblock, a specialist in Middle Eastern politics at the University of Exeter, has identified a gap of several billion dollars a year between the amounts Libya makes from its oil reserves and government spending, a shortfall he expects has contributed greatly to the wealth of Muammar Gaddafi and his nine children.   Dif Read more…

Becoming a parent is one of the most joyous events in most people’s lives, but bringing a child into the world can come with high costs. When you’re preparing for the birth there are loads of things to purchase like pushchairs, baby clothes, nappies and covering the costs of ‘baby proofing’ your home. Although you may think that you have bought everything that you need, there’s sure to be things that pop up that you really need.

Not only this, but when you have brought your new arrival home, there are many new expenses to take into account. But, what happens if these appear but you don’t quite have enough left in your budget to cover the costs? Well, there is an option to be able to cover the costs of the items you need and then you simply pay the loan back when you are next paid.

With possible loan amounts from £50 all the way up to £1250, you will be able to pay for all of the essential items that you need to ensure that you’re fully prepared for your new child to come home. With a fast appli

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HSBC India is aiming to revamp its retail operations in the country. The lender has been facing losses in the retail segment in India since three consecutive years now.

The bank aims to march ahead in the retail arena with the first aim being to reconstruct its credit card business in the country.

Through an assimilated as well as ‘targeted, precise and data-oriented’ approach including partnership with local players, the bank aims to grow its credit card business again, indicated Gannesh Bharadhwaj, head of retail banking and wealth management at HSBC India.

“Getting new customers is an issue because we don’t have branches; so now what we are relying on is partnerships. Partnering with someone who has a lot of data-on spending for example-and using that data to tell us something about spending and, hence, income, and take that to a credit bureau to check credit worthiness,” Bharadhwaj said talking about the plans of the bank.

The present retail operations portfolio of the bank includes mortgages, credit cards and personal loans.

“Retail banking numbers are in line with our expectations,” Bharadhwaj said.

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Last week, the Consumer Finance Protection Bureau (CFPB) issued a statement asking for public comment on regulation for nonbanks, which includes entities such as debt collection agencies, consumer credit agencies and debt relief services.

While the federal government has long issued legislation and regulations for traditional banking sectors, the CFPB will now have jurisdiction and power to issue reforms for non-traditional banking organizations. Many anticipate that the CFPB will issue reforms, although possibly not right away.

This is a first step and indication that the agency does plan to analyze the industry and make changes. There is a requirement for the CFPB that in order to regulate certain organizations, it must be determined that they are “larger participants” in the greater market. For

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