Wednesday, June 19, 2019

India central bank surprises with a rate cut

MUMBAI: India's central bank unexpectedly lowered interest rates and, as anticipated, shifted its stance to "neutral" from "calibrated tightening" to boost a slowing economy...

State Bank of Pakistan raises policy rate to 10.25pc

KARACHI: State Bank of Pakistan (SBP) Governor Tariq Bajwa on Thursday announced a 25 basis point increase in the policy rate, bringing it to...

NBP, Mobi-Direct sign final agreement

KARACHI: The National Bank of Pakistan (NBP), in continuation of the two MoU’s signed with Mobi Direct in August 2018, has now signed a...

Islamic banking rapidly growing, SBP tells Senate body

ISLAMABAD: The representatives of the State Bank of Pakistan informed Senate Standing Committee on Finance here on Thursday that Shariah Compliance, Islamic banking was...

Two suspects charged with bank hacking

NAIROBI: Two of the 130 suspects in connection with electronic fraud by hacking into commercial bank systems have been charged over loss of over...

ICICI Bank must answer for CEO scandal

NEW DELHI: India’s ICICI Bank Ltd. is seeking to claw back bonuses and stock options paid to departed Chief Executive Officer Chanda Kochhar. That...

ING and Bank of Queensland raise borrowing rates again

LONDON: Two of the nation’s most popular banks for borrowers are increasing variable mortgage rates by up to 15 basis points in response to...

Central banks buy most gold since 1971

LONDON: Central banks have bought the most gold in nearly 50 years as the precious metal profits from its  safehaven status, the World Gold...

State Bank reports sorry state of economic affairs

KARACHI: The State Bank of Pakistan released its First Quarterly Report on the State of Pakistan’s Economy for FY19. According to the report, the overall...

IMF urges Kuwait to implement deeper economic reforms

KUWAIT CITY: Kuwait needs to implement deeper reforms to secure adequate savings for future generations despite forecasts of stronger growth in its non-oil economy,...

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