LONDON — Britain’s financial regulator on Friday launched a quick review of the London interbank offered rate (LIBOR), the interest rate index that has been subject of a global scandal, raising questions on how it is regulated and calculated.
LONDON — Britain’s financial regulator on Friday launched a quick review of the London interbank offered rate (LIBOR), the interest rate index that has been subject of a global scandal, raising questions on how it is regulated and calculated.
Australia’s central bank upped its annual growth forecast on Friday after a strong first half, but it warned that resources investment — a key driver of the economy — would peak by 2014.
Ajman Bank’s net profit soared by 250 per cent to Dh11.78 million for the first six months of the year, compared to same period last year, it was announced on Wednesday.
The Bank of England has forecast that Britain’s economy will emerge from recession later this year but remain very weak.
Emirates NBD announced the launch of their special 2012 Ramadan Auto Loan promotion, which gives borrowers a chance to win prizes while also enjoying low interest rates to buy their dream cars.
Hong Kong stocks rose 0.37 percent Tuesday on hopes the European Central Bank will restart its bond-buying scheme soon, but Standard Chartered bank slumped on US claims it hid huge deals with Iranian lenders.
Commercial Bank International (CBI) on Sunday announced that it’s shareholders have approved increased percentage of foreigners’ shareholding to 49 per cent.
Bank deposits in the country’s financial system slipped 1.6 per cent in June 2012 to Dh1.107 trillion, according to the UAE Central Bank said.
India’s foreign exchange (forex) reserves grew by $1.31 billion to $288.64 billion for the week ended July 27, 2012, Reserve Bank of India data showed.
UBS, Switzerland’s biggest bank, said its second-quarter profit fell 58 per cent, missing analysts’ estimates, as the investment bank posted a loss tied to Facebook’s initial public offering.