Friday, May 24, 2019

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...

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,...

Despite recovery, Italy’s bank problems still unsolved

ROME: Italian banks are now in a much healthier position to absorb potential losses with larger capital buffers. However, more recently and on top of...

Wall Street betting on big banks ahead of earnings

WASHINGTON: All eyes are on banks stocks ahead of earnings next week, and the Street is split on whether financial stocks are attractive at...

World unprepared for slowdown, says IMF

WASHINGTON: The leaders of the world’s largest countries are dangerously unprepared for the consequences of a serious global slowdown, a senior executive at the...

RBS critic pays £20,000 for criticising bank

LONDON: A critic of Royal Bank of Scotland’s disgraced restructuring unit has spent £20,000 on a billboard berating the high street bank as part...

Chinese central bank aims more stimulus to support growth

Beijing: Top Chinese officials, including central bankers and public servants, have unveiled a series of additional measures aimed at supporting the nation's GDP growth...

JPMorgan to pay $135m for improper handling of ADRs

Washington: JPMorgan Chase & Co will pay over $135 million to settle charges it mishandled so-called “pre-released” American Depositary Receipts (ADRS), the Securities and...

Morgan Stanley unit to pay $10 million fine for violations

New York: Wall Street’s industry funded watchdog fined the US brokerage unit of Morgan Stanley $10 million today for compliance failures in the firm’s...

GCC banks and regulators see new opportunities in mergers

Dubai: Once a taboo in the GCC bank boardrooms, the option of a merger has become more acceptable, thanks to the recent successful mergers...

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