The European Central Bank said on Monday it would lower the bar for lending to central banks from outside the European Union in times of crisis. The changes should make it easier for smaller economies outside the EU’s borders — […]
On November 20, 2023, the Executive Board of the International Monetary Fund (IMF) discussed the staff report: “Review of the Fund’s Strategy on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).” The staff report takes stock of the implementation […]
UAE’s Abu Dhabi Commercial Bank (ADCB) has obtained the approval of the Saudi Council of Ministers for a licence to operate a banking business in the kingdom. ADCB intends to fulfil all technical and regulatory requirements stipulated by the Saudi […]
The aggregate market capitalisation of the top 25 global banks grew by 11% to $3.61 trillion quarter-on-quarter (QoQ) during the fourth quarter of 2023, London-based GlobalData said in a report. The rise in market cap was due to the recovery […]
Abu Dhabi Commercial Bank (ADCB) has signed an agreement to divest 80 percent stake in its wholly owned property management subsidiary Abu Dhabi Commercial Properties (ADCP) to Nine Yards Plus Holding, a real estate subsidiary of EIH Ethmar International Holding […]
The Bank of England on Thursday held its key interest rate and warned it will remain high to tackle inflation, indicating in contrast with the Federal Reserve that cuts were unlikely any time soon. The British central bank’s monetary policy […]
Pakistan’s central bank kept its key rate unchanged at a record 22% on Tuesday as it waits for the effects of previous hikes to filter through the economy and further tame retail inflation. All but one analyst polled by Reuters […]
Zenith Bank recently signed a Memorandum of Understanding (MOU), with the French government, allowing it to institute a subsidiary in the European northwest, as reported by the Nigerian newspaper, The Punch. Jim Ovia, CFR, the bank’s Founder and Chairman represented […]
The Saudi Central Bank, also known as SAMA, and the People’s Bank of China have signed a local currency swap agreement worth SR26 billion ($6.93 billion) as collaboration between the countries continues to strengthen. According to SAMA, the three-year agreement […]
The U.S. government’s borrowing needs will decline slightly in the final three months of 2023 from the prior quarter, a potentially important development during a turbulent time for the global bond market. In a closely watched announcement Monday afternoon, the […]
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