Search Results for: Bank of Russia
Gold demand up 42 percent year on year in the first quarter of 2018 among central banks
October 29th, 2018
Central banks around the world are turning to gold as an alternative to the US dollar, which they see as being undermined by America’s aggressive trade policy and geopolitical uncertainty. Demand for gold was up 42 percent year on ...
Top EU banks guilty of multi-billion tax fraud
October 23rd, 2018
Tax-scams operated by the EU’s top banks cost treasuries €55.2bn, a cross-border investigation has shown. The scams, dubbed “the biggest tax robbery in European history”, involved Deutsche Bank and Santander – the largest lenders in Germany and Spain. They ...
Is money-laundering scandal at Danske Bank the largest in history?
September 27th, 2018
The Russian-speaking caller refused to give a name but the threat was explicit: “Do you really feel you can walk home safely at night?” It was 2013 and officers at the Estonian branch of Danske Bank were beginning to ...
CEO of Denmark bank quits amid an alleged $233 billion money-laundering investigation
September 20th, 2018
The chief executive of Danske, Denmark’s largest bank, resigned Wednesday after a year-long internal investigation into money laundering found $233 billion in suspicious transactions moving through the bank’s tiny branch in Estonia — nearly 10 times larger than that ...
Russian Police seize 22 Cryptocurrency ATMs
September 4th, 2018
Russian police have recently seized cryptocurrency ATM machines under orders from the country’s central bank. According to local publication RBC, the ATM developer impacted by the seizure plans to appeal the action, and has incurred economic damage and costs ...
Russia’s gold reserves approaching record as Moscow is striving to escape from US dollar hegemony
July 30th, 2018
With 2,000 tons of gold in reserves, Russia’s bullion holdings are approaching the Soviet peak seen in 1941. Moscow is striving for financial independence and escape from US dollar hegemony, analysts told RT. “Some countries in the world want ...
Deutsche Bank spends $17 billion in a decade on legal costs
June 25th, 2018
Despite spending $17 billion, the bank still has five of its biggest cases outstanding and has set aside $2.9 billion for litigation provision in the first quarter. German’s Deutsche Bank has spent more than $17 billion over the past ...
The Bank of England is Entertaining its Own Official Cryptocurrency
January 3rd, 2018
As originally reported by The Telegraph, the Bank of England may approve the creation of a state-sponsored cryptocurrency within the year. Just last year, the bank announced it had commissioned a theoretical currency, RS Coin, which could be used ...
Russia and China could set international gold price based on physical gold trading
December 4th, 2017
Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical ...
Corn and lean hogs top agricultural commodity bets for 2018, says Rabobank
November 23rd, 2017
Corn is the top bullish bet among agricultural commodities for 2018, followed by lean hogs, Rabobank said, in a briefing which cautioned over the potential for market influences from La Nina to freight. The bank, in its annual briefing ...
