13 European banks fall €10 bil. short in stress test


The Associated PressFRANKFURT (AP) — The European Central Bank says 13 of Europe’s 130 biggest banks have flunked an in-depth review of their finances and need an extra €10 billion ($12.5 billion) to cushion themselves against any future crises. Although the landmark review identified only a handful of weak banks, ECB officials said Sunday that it was tough enough to ensure Europe’s banks will be purged of the bad investments that have made some of them hold back on lending. That means the banks will be ready to lend to businesses when the economy finally picks up, they said. “The results guarantee that going forward the economic recovery will not be hampered by credit supply restrictions,”…

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Tanya Stephens to perform at Reggae Beachfest - gulfnews.com

Tanya Stephens to perform at Reggae Beachfest
Reggae artist Tanya Stephens is known for her hits such as Yuh Nuh Ready Fi Dis Yet, a single that later featured on the Reggae Gold 1997 compilation album. She received international recognition with the song It's a Pity. She will be performing these ...