Saving the Economy!? First Islamic Bank opens in Germany*
Germany is to get its first fully operational Islamic bank on July 1. Opened by the Turkish finance group Kuveyt Turk it will provide Sharia compliant banking services.
“This new achievement will open vast areas of business and investment in Europe’s largest economies, as this is the first bank to obtain a full function license to take deposits and offer credit finance facilities in Germany as per Islamic rules and regulations,” Kuwait Finance House said in a statement on Thursday.
The wholly-owned subsidiary of the Turkish lender will be called KT Bank AG with its headquarters based in Frankfurt and branches in Cologne and Berlin. It will serve Germany’s 4 million Muslims but also plans to expand its services throughout Europe.
„Our market research has shown, that 21% of Muslims in this country would see an Islamic bank as their…
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The latest ISIS video, released on the weekend is about scaring those that oppose them but also much more than that. Brian Lilley explains the religious undertones of the video and what they mean.
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Twitter is continuing its campaign against abusive online messages, announcing a new slate of changes to the social network Tuesday aimed at curtailing Internet trolls and bullies.
Twitter has broadened the types of threats that it can punish by changing its rules to ban “threats of violence against others” rather than “direct, specific threats of violence against others.” The social network says the previous phrasing was too narrow to deal with the different types of abuse that occur online. Twitter is also taking a more granular approach to dealing with abuse by locking offending users’ accounts and forcing them to delete certain tweets to access their accounts again. The company also says it will limit the reach of abusive messages in some cases without actually deleting them, though it doesn’t specify how the messages will be limited.
The changes come a day after Twitter announced it would begin allowing users…
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Speculation that incoming Credit Suisse AG [fortune-stock symbol=“CSGKF“] chief executive Tidjane Thiam could raise cash to boost the bank’s balance sheet overshadowed a forecast-beating increase in first-quarter net profit on Tuesday.
Tough new rules on risk and a surging Swiss franc weakened Credit Suisse’s cushion against future losses in the first quarter. With regulators still working on capital requirements for banks‘ trading operations, there are potential headwinds to come.
„The risk is that the debate around the incoming CEO shifts from the potential for strategic change to the risk of capital raising,“ said Omar Fall, an analyst at Jefferies.
Credit Suisse’s shares were the second-biggest faller in the European banking index, down 3% against the index’s 0.75% rise by mid-morning.
Thiam, chief executive of British insurer Prudential Plc, takes over from Credit Suisse veteran Brady Dougan at the end of June.
Until now the expectation has been that he will…
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Earth First!..116 Environmental Activists Murdered in 2014
New report shows killings of environmental activists are increasing, with indigenous communities hardest hit. We shine a spotlight on Honduras – the most dangerous country to be an environmental defender
Each week at least two people are being killed for taking a stand against environmental destruction. Some are shot by police during protests, others gunned down by hired assassins. As companies go in search of new land to exploit, increasingly people are paying the ultimate price for standing in their way.
We found that at least 116 environmental activists were murdered in 2014 – that’s almost double the number of journalists killed in the same period. A…
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Religion der ARD vs Kinderglaube der Geldgeber: ARD und ZDF sehen rot – NZZ.ch
Deutsche Ökonomen plädieren dafür, dass sich der öffentlichrechtliche Rundfunk auf eine Nische zurückzieht. Er soll dort aktiv werden, wo Private Lücken hinterlassen. Die Vertreter der Sender verunglimpfen die Überlegungen als «Kinderglaube».
In der Schweiz werden die Bürger im Juni darüber entscheiden, ob Radio und Fernsehen über eine Zwangsabgabe finanziert werden. In Deutschland wurde diese steuerähnliche Variante schon 2013 eingeführt. Die Vertreter der öffentlichrechtlichen Sender könnten sich also zufrieden zurücklehnen. Doch seit einigen Monaten sorgt ein Gutachten von Ökonomen und Juristen für rote Köpfe . Der wissenschaftliche Beirat beim Finanzministerium hat es gewagt, die privilegierte Stellung des öffentlichrechtlichen Rundfunks zu hinterfragen. Dieses Gutachten wurde über 300 000 Mal von der Homepage des Finanzministeriums heruntergeladen. Üblich sind sonst ein paar hundert Aufrufe. …..
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