Archives
StanChart preparing to close bank accounts of thousands of UAE SMEs
October 20th, 2014
Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement. “We regret to notify you ...
IMF: Singapore may decline its competitiveness
October 20th, 2014
Singapore’s plans to cut reliance on foreign workers could reduce its competitiveness and growth potential while keeping core inflation elevated, the International Monetary Fund said in a report on Saturday. The IMF said Singapore’s plans to restructure its economy ...
Turkey’s banking regulator gives new Islamic bank the go-ahead
October 20th, 2014
State-owned Türkiye Cumhuriyeti Ziraat Bankası (Agricultural Bank of the Republic of Turkey), Turkey’s second largest bank has been given the green light by the country’s Banking Regulation and Supervision Agency (BDDK) to set up a standalone Shari’ah-compliant bank. The ...
Japan Stocks Surge
October 20th, 2014
Japan’s Nikkei share average surged 3.3 percent on Monday and was on track to post its biggest daily rise in more than a year as investors took heart from upbeat U.S. data and as the weaker yen lifted exporters such as Toyota Motor ...
Yen at around 110 to the dollar a key pain point for Japan firms
October 20th, 2014
Nearly half of Japanese firms think the government should start defending the yen at this month’s dollar high of 110, a Reuters survey shows, underscoring the threat that rising fuel and other import costs pose to a fragile economy. ...
Microsoft plans to launch smartwatch soon
October 20th, 2014
Microsoft Corp. (MSFT.O) is on track to launch a smartwatch within the next few weeks that will passively track a user’s heart rate and work across different mobile platforms, Forbes reported on Sunday. The wearable gadget’s battery life will ...
Guernsey Welcomes Latest Financial Center Rankings
October 17th, 2014
Guernsey has taken third place in this year’s global rankings of specialist financial centers issued by trade publication The Banker. Guernsey was once again ranked third behind the Cayman Islands and Jersey, however the figures this year show that ...
The future of the Shanghai Cooperation Organisation
October 17th, 2014
China recently reaffirmed that it backs India and Pakistan becoming members of the Shanghai Cooperation Organisation (SCO). At the 14th meeting of the Council of Heads of States of SCO on 12 September, Chinese President Xi Jinping called for ...
Global oil surplus to disappear gradually next year
October 17th, 2014
The oil markets are concerned that there is too much oil currently available on the market, and that, as a consequence, oil prices may continue to tumble. Saudi Arabia is reportedly telling Reuters that it is happy with prices ...
FCA warning against unauthorised firm
October 17th, 2014
The Financial Conduct Authority (FCA), the British regulator, has issued a warning against “AVA Capital Management” (www.avacapitalmanagement.com). The warning recommends that the public exercises extreme caution when dealing with this company, since it is not permitted to provide any ...
