MUMBAI: Only three of India’s 45 commercial banks have cut base lending rates since the Reserve Bank of India’s surprise easing this month, hurting the government’s drive to lift business investment. Bank executives insist they cannot lower loan rates despite [...]
TBILISI: Georgia’s central bank plans to tighten monetary policy from [...]
Regulation was a key transaction banking theme throughout 2014. Migration [...]
KARACHI: The branchless banking companies are playing a vital in [...]
Lahore: State Bank governor has urged the country’s Islamic banks [...]
KARACHI: Atif Bajwa, President and Chief Executive Officer, Bank Alfalah Limited has been elected as the President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the year 2015. Leading bankers such as Nauman Ansari, President & Chief Executive Officer, Faysal Bank Limited and Nadeem Lodhi, Managing Director [...]
MUMBAI: The RBI is making extra efforts to spur the country’s corporates to more actively hedge their foreign exchange exposure, in order to fortify the country’s defences against any risk of currency turmoil. The efforts reflect the Reserve Bank of India’s fear of becoming hostage to global developments, especially as [...]
LONDON: Standard Chartered’s board will discuss succession planning at a meeting in Washington today, people familiar with the matter said, following speculation it was seeking a new chief executive. The meeting is a regularly scheduled board gathering, the Asian-focused bank said, declining to discuss further details, or the agenda. However, [...]
Moscow: Russia’s central bank lowered its main interest rate as concern over a looming recession took precedence over stabilizing the ruble and taming runaway inflation. The ruble weakened beyond 70 against the dollar. The one-week auction rate was cut to 15 percent from 17 percent, the central bank said in [...]
Ramallah: An International Monetary Fund (IMF) mission led by Christoph Duenwald visited Ramallah from January 21-29, 2015, to assess recent economic developments in the West Bank and Gaza and the financial situation of the Palestinian Authority (PA). The IMF mission met with Deputy Prime Minister Mohammad Mustafa, Finance Minister Shukry [...]
President Mamnoon Hussain has said that government is working really hard to put the economy back on track. Business Community is backbone of the economy and its role is significant to achieve the economic targets set by the current government. He was speaking at the annual good will dinner of [...]
TOKYO: The Bank of Japan has put monetary policy on hold and found backing for its wait-and-see stance from advisors to Prime Minister Shinzo Abe, who worry more easing could send the yen to damagingly low levels, according to officials in the administration and central bank. This newfound caution from [...]
Investors are trashing Greek stocks and bonds in the aftermath of Alexis Tsipras’s election. It’s the country’s banks, however, that are bearing the brunt of the backlash to the new prime minister’s anti-austerity promises, and that spells trouble for a government that can’t afford to rescue its financial system. This week, the [...]
In September, the world will commemorate the 30th anniversary of the Plaza Accord. That agreement to weaken the dollar and boost the yen still stands as a landmark of economic cooperation — something that’s sadly lacking in our chaotic and deflationary times. This week’s panicky move by Singapore’s central bank shows why [...]
Oil is down 57 percent from last year’s high, the ruble is approaching its catastrophic December low, and Standard & Poor’s has just relegated Russian debt to junk status — but the Russian government has a plan. Or, rather, it has a document it calls a plan. It follows that the only aspect of Russia’s [...]