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Yemen FX reserves stabilise but borrowing balloons in political crisis
February 20th, 2015
Yemen’s foreign exchange reserves have stabilised after a steep fall due to its political turmoil, but ballooning government debt issuance indicates the country may be moving closer to a fiscal crunch, central bank data showed on Friday. Shi’ite Muslim ...
HSBC whistleblower spills Lynch evidence to Senate
February 19th, 2015
Massive drug, terrorism scandal ropes in Obama’s AG nominee The Senate Judiciary Committee on Wednesday conducted a two-hour session with HSBC whistleblower John Cruz in its investigation of attorney general nominee Loretta Lynch’s role in the Obama administration’s decision ...
International payment provider ECommPay becomes VISA Principal Member
February 19th, 2015
In February 2015, VISA’s European Board of Directors granted VISA Principal Member status to payment processing company ECommPay. ECommPay creates state-of-the-art, bespoke payment solutions for e-Commerce merchants, enabling them to make and to accept payments via VISA/MasterCard and China ...
Greek proposal lifts markets, despite German rejection
February 19th, 2015
A Greek proposal to extend its bailout and not to undermine agreed fiscal targets lifted European stocks to seven-year highs on Thursday and cut government borrowing costs across the euro zone, even though Germany rejected it. Despite the German rejection, Greece’s wording of ...
Euro Area Investment Fund Statistics: December 2014
February 19th, 2015
19 February 2015 – Financial statements of the ECB for 2014 ECB’s net profit for 2014: €989 million (2013: €1,440 million) Net interest income from the Securities Markets Programme: €728 million (2013: €962 million) Interest income on banknotes: €126 ...
Oil giant BP predicts Opec comeback as Brent crude price rises
February 18th, 2015
Saudi Arabia and its fellow Opec members are set to make a massive comeback and regain control of the world’s crude oil market, and could be in their previous position of influence as early as next year. The prediction, published by oil giant BP yesterday, ...
Local investors regain largest share of HKEx’s securities market trading
February 17th, 2015
Local investors have regained the largest share of securities market trading at Hong Kong Exchanges and Clearing Limited (HKEx), according to the findings from HKEx’s Cash Market Transaction Survey 2013/14. The survey found local investors contributed 45 per cent ...
Deloitte Global selects new CEO
February 17th, 2015
Deloitte Touche Tohmatsu Limited (Deloitte Global) today announced that Punit Renjen, currently Deloitte U.S. member firm Chairman of the Board, has been selected as Deloitte Global’s new chief executive officer. Renjen will assume the new role on 1 June 2015, the ...
Self protection against money laundering
February 16th, 2015
There is much that both financial and non-financial businesses can do to take the initiative and implement their own money laundering prevention measures. The framework for such prevention measure for protection against money laundering is: Know your administration Know ...
HSBC files: Swiss bank hid money for suspected criminals
February 13th, 2015
HSBC’s Swiss bank concealed large sums of money for people facing allegations of serious wrongdoing, including drug-running, corruption and money laundering, leaked files reveal. Despite being legally obliged since 1998 to make special checks on high-risk customers, the bank ...
