Major banks accused of money-laundering in huge document leak – BuzzFeed, ICIJ
Several global banks moved large sums of allegedly illicit funds over a period of nearly two decades, despite red flags about the origins of the...
Banking and Finance
Turkish central bank to hold key rate, continue backdoor tightening – Reuters poll
Turkey’s central bank is seen keeping its policy rate on hold next week despite the lira hitting record lows, but is expected to drive funding...
Is it worthwhile to trade currencies?
Trading foreign exchange is a seriously risky business, but it can also be seriously lucrative. As one very successful trader once told this writer: “In...
Ruble steady as Russian central bank holds key rate at 4.25%
Russia’s central bank kept its key interest rate at 4.25 per cent on Friday, putting its monetary easing cycle on hold amid increased risks of...
Bank of England sees recovery signs but studies sub-zero rates
The Bank of England said Britain’s economy had performed better than it had expected as recently as last month but its policymakers had been briefed on how the central bank could...
Pound falls, dollar rises after Fed says US economy improves
The dollar edged up against major currencies on Thursday following the U.S. Federal Reserve’s upbeat assessment of the economic recovery and as its increased tolerance...
Fed projections show it sees smaller economic hit in 2020 than previously expected
The Federal Reserve signaled on Wednesday it expects the U.S. economic recovery from the coronavirus crisis to accelerate with unemployment falling faster than the central...
Cyprus is overbanked, and the economy suffers
Cyprus is overbanked, and this affects its economy. There are seven local banks operating in Cyprus, according to Central Bank of Cyprus Central Bank of...
Turkish companies seek fresh debt restructuring as virus hits – sources
Debt-laden Turkish companies are seeking more time to repay bank loans after the coronavirus pandemic upended plans to sell assets, according to four sources with...
Gulf states’ economies suffer, as they bet on oil rebound
Oil-rich Gulf nations are relying on a well-worn playbook of spending less and borrowing more to get through the coronavirus crisis but with the outlook...
Moody’s downgrades Turkey’s ratings to B2 and maintains negative outlook
Moody’s Investors Service (“Moodys”) has on Friday downgraded the government of Turkey’s debt ratings to B2 from B1, and has maintained its negative outlook for...
EU plans major revamp of carbon market
The world’s biggest carbon trading market faces a major overhaul under European Union climate change plans to cut greenhouse gas emissions faster this decade, a...
Europe’s economy better than we feared — German Finance Minister
The European economy is recovering much better than many had feared at the beginning of the COVID-19 pandemic, German Finance Minister Olaf Scholz said on...
Euro gains as ECB shows no focus on strong currency
At a press conference on Thursday, ECB President Christine Lagarde said the bank is not targeting exchange rates. She also struck a less dovish tone...
Tech Rally will continue despite moral outrage
Sometimes stock analysts should just not say anything. But the urge to comment is great, and unfortunate objurgations from people who should know better have...
Pound hammered, euro whipsaws, dollar rises
Brexit talks failure sent the pound to a six-week low of $1.2773 and it mostly stayed there on Friday, last trading at $1.2812. It has...
ECB’s Lagarde takes benign view on growth, euro strength
European Central Bank President Christine Lagarde took a modestly upbeat view on Europe’s recovery from a historic recession on Thursday and played down concerns about...
ECB holds rates; key deposit rate stays at 0.50%
The European Central Bank on Thursday held rates at current levels, with the key deposit rate remaining at 0.50 per cent. The central bank is...
Euro clings onto gains as traders hold breath before ECB meeting
The euro held onto gains against the dollar on Thursday as traders braced for a European Central Bank meeting to gauge policymakers’ views on the...
Sterling hits four-week low on Brexit
Sterling fell to a four-week low against the dollar on Tuesday and was last down more 1.2 per cent at $1.2987. Britain had gone into...
