IMF raises forecast for World Economy

The International Monetary Fund (IMF) has raised growth outlook for global economy considering stronger growth and signs of recovery in many key markets.

Four Spanish Banks Receive Restructuring Approval

Four of the Spanish Banks, i. e. BFA Bankia SA, NCG Banco, Catalunya Banc and Banco de Valencia SA have got the approval for restructuring from the European Commission.

With the approval in hands, now these banks are eligible to get funding from the European Stability Mechanism. EU said that the balance sheets of these banks will come down by estimated 60% in 2017 from that in2010.