Leading world bankers on defensive in DavosJanuary 23, 2013 - 14:06 AMT PanARMENIAN.Net - Leading world bankers at the World Economic Forum in Davos, Switzerland, are on the defensive amid demands to regulate their industry more closely, The Associated Press reports. Bankers have been widely blamed for the financial crisis that has left more than 200 million people unemployed around the world and dramatically reduced the living standards of many in the developed world. But James Dimon, chairman and CEO of JP Morgan Chase & Co., says "we're doing the right thing" and insists that the world needs banks so that people can buy houses and governments can function. Axel Weber, chairman of Swiss-based bank UBS, acknowledges "excesses" of the past but says it is pointless to debate breaking up banks. Both spoke Wednesday in Davos at the annual gathering of more than 2,500 corporate and political leaders. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |