iPhone | iPad
Android
HuaweiThe Ministry of Finance and the Central Bank of the UAE signed memorandum of understanding, or MoU, on Tuesday, in implementation of the Council of Ministers’ resolution which authorises the Ministry to compile and exchange tax information regarding the fulfillment of requirements of the OECD Global Forum for transparency and exchange of information relating to bilateral agreements on double taxation.
KT APPDOWNLOAD
MORE FROM Finance
British Bankers’ Association on Wednesday announced changes to Libor interest-rate transparency.
Citibank will no longer be part of the panel of the Emirates Interbank Offered Rate, or Eibor, the group that fixes the interest rates charged by lenders for interbank transactions.
UAE banks have asked the Central Bank to reconsider its recent decision of stopping the debt transfers of UAE nationals between banks for three consecutive months.
The Central Bank of the UAE on Sunday announced that the Anti-Money Laundering and Suspicious Cases Unit, in line with its strategy to enhance the capacity building of its regulated entities, recently held a workshop regarding the “Requirements of the FATF [Financial Action Task Force] recommendations of 2012 and online STR system’ for banks, currency exchanges and other financial institutions in Abu Dhabi.
Germany’s central bank is slightly lowering its growth forecast for this year but is maintaining its expectation of a robust expansion in 2014.
The European Central Bank will not announce further policy moves at its regular monthly meeting Thursday as it examines the effects of its recent cut in interest rates on the eurozone’s recession-ridden economy, analysts said.
China shares posted their worst daily loss in weeks on Tuesday, led by growth-sensitive sectors, on fears that the central bank is tightening money supply after it drained 14 billion yuan ($2.28 billion) from the market.
The dollar was mixed in Asian trading on Monday as it faced pressure from data that showed US consumer spending was down in April although shoppers’ confidence climbed.
Greek banker Christos Sorotos was appointed on Tuesday as interim CEO of the island’s largest lender, Bank of Cyprus, to guide it through tough restructuring under Cyprus’ bailout terms, the central bank said.
