Word: banking
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...only, adjustable-rate mortgages. Purchasers with high credit scores, who could have qualified for the standard 30-year mortgages, were also enticed by the exotic loans because they offered substantial initial tax deductions and freed up cash for other big-ticket purchases. "Why pull your money out of the bank for a down payment when someone is willing to give you all the money and structure payments that initially are significantly lower?" asks Johnson. With home values increasing by double digits annually, "people began buying houses they couldn't afford under the theory that the more house...
...unlike their previous situation in Gaza, Israelis like Matzliach feel little pressure to leave from the Golan's Arab inhabitants - unlike the huge Palestinian majorities in the West Bank and Gaza, there are now just four Arab towns in the Golan. Their Syrian inhabitants are mostly Druze Muslims, who speak Arabic and Hebrew, run apparently prosperous businesses and farms, and mingle easily on the streets with Israeli soldiers. "I've got many Israeli friends," says Yahyah Abu Shaheen, a 51-year-old contractor in the town of Buq'ata. "We've grown up together and we're human beings...
...July 23, Beijing made its boldest investment play yet. The China Development Bank (CDB), a huge, state-owned institution that until recently has focused on making large, subsidized loans for infrastructure projects, typically in the country's poorest regions, is plunging into the middle of a takeover fight for one of Europe's biggest and most venerable banks. Teaming up with Singapore's state-owned investment vehicle, Temasek - which will invest an initial $1.9 billion - CDB will fork over $3 billion for a stake in Barclays, the British bank now locked in a struggle with a consortium led by Royal...
...Gaza in June, Palestinians now have in effect two rival governments - one run by the Islamist militants of Hamas in Gaza, who remain in control of the Palestinian legislature, but whose government has been dismissed by President Mahmoud Abbas; the other run by Fatah in the West Bank that, although appointed as an emergency administration by President Abbas, needs the endorsement of the legislature to become a permanent government...
...looked like it was playing catch up. Its earlier bid for ABN was conditional on it getting LaSalle, ABN's U.S. arm, as part of any deal. But a Dutch court earlier this month denied ABN shareholders the right to vote on its plan to sell LaSalle to Bank of America...