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Banking

First Islamic bank in Germany to open in July
Germany is to get its first fully operational Islamic bank on July 1. Opened by the Turkish finance group Kuveyt Turk it will provide Sharia compliant banking services.

24.04.2015 11:04

​HSBC threatens to leave Britain after mild banking reforms
Global banking giant HSBC says it could move its headquarters out of the UK in the wake of regulatory and structural reforms put in place after the 2008 financial crisis.

24.04.2015 14:57

Austerity has damaging psychological effect – something UK politicians should take note of
With only weeks to go before the general election in the UK, a statement by some of the UK's leading mental health experts has warned that austerity policies are having a seriously damaging effect on the psychological well-being of ordinary people.

23.04.2015 15:09

‘Institutionalised theft’: Barclays’ PFI contracts based on rigged interest rates ‘bleeding NHS & schools dry,’ say activists
Political activists gatecrashed Barclay’s AGM in Central London on Thursday to highlight the role of private finance initiatives (PFI) in “killing off” Britain’s public services, racking up unsustainable debt, dodging tax and funneling profits offshore.

23.04.2015 08:38

Deutsche Bank hit with record $2.5bn fine for rate-rigging
Germany’s biggest lender has been fined $2.5 billion by US and UK regulators for manipulating market key rates including Libor, the benchmark for interest rates on trillions of dollars of financial contracts.

23.04.2015 12:21

Rapid rise of the ruble is over – Bank of Russia
The ruble’s oil-spurred rally is over, the Russian Central Bank said on Wednesday. The ruble has gained 15 percent this year after losing about half its value in 2014.

22.04.2015 08:30

If a Clinton were to marry a Bush, the US could cancel elections
With apologies to their respective spouses, if Jeb Bush’s son, George P. Bush, had married Chelsea Clinton, Americans could have spared themselves the spectacle of Election 2016 and saved billions of dollars.

22.04.2015 10:23

‘Goldman advising on the economy like Dracula on running a blood bank’ – UK economist
Goldman Sachs’ claim that a Labour victory in the general election would impact negatively on Britain’s economy has been dismissed by leading British economists, who say the Wall Street giant’s outlook is laughable and colored by self-interest.

22.04.2015 11:57

Goldman Sachs banker ‘wins £1 mn’ in maternity discrimination dispute
Goldman Sachs has reached an out of court settlement to pay £1million ($1.5 million) to a former female executive. Some of the banks top management were accused of sexually discriminating against her for being pregnant and then having a child.

21.04.2015 20:35

​First Chinese state-owned company announces bond default
Baoding Tianwei Group, owned by the China South Industries Group, has become the country’s first state-owned company to announce a default on its bonds traded in mainland China, after failing to pay $13.8 million in interest.

21.04.2015 13:10

Ruble at 2-wk low against US Dollar, as Central Bank interferes
The Russian ruble fell for a third consecutive day, extending losses from Monday when the Central Bank announced it would raise the rate for foreign-currency loans to banks. The Bank is trying to curb the 15 percent the currency has gained this year.

21.04.2015 11:11

Cash-strapped Athens orders public bodies to send funds to Central Bank
The Greek government has issued a decree envisaging the compulsory transfer of local and regional authorities’ cash reserves to the country’s central bank. It explained the move by saying it was an “urgent and unforeseen need.”

20.04.2015 22:14