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Banking

​IMF withholds €88mn tranche from Cyprus
The International Monetary Fund has postponed the allocation of €88 million credit assistance to Cyprus over the suspension of a new foreclosure law.

19.12.2014 07:38

Swiss central bank turns to negative interest rate amid ruble crisis
The Swiss National Bank has switched to a negative deposit rate for some deposits, as it seeks to avoid excessive growth of the national currency. The ruble crisis and unrest in global financial markets have fuelled demand for the Swiss franc.

18.12.2014 14:04

UK sees luxury property, cheap travel bonanza in ruble crisis
As the ruble falls into a tailspin, air fares between the UK and Russia have dropped to an all-time low. Return tickets from London Gatwick and Manchester to Moscow are now selling at £50.

18.12.2014 11:10

‘Puerile prancing multimillionaire’: Russell Brand slated by irate RBS bank employee
Radical left-wing campaigner and comedian Russell Brand has been labeled a “puerile, self-aggrandizing, prancing multimillionaire” by a disgruntled Royal Bank of Scotland (RBS) worker.

17.12.2014 16:18

Russia crisis leaves banks around the world exposed by the billions
Major banks across Europe, as well as the UK, US, and Japan, are at major risk should the Russian economy default, according to a new study by Capital Economics.

17.12.2014 15:15

Go West, Young Han
November 18, 2014: it’s a day that should live forever in history.

17.12.2014 09:00

Ruble rumble: Currency gains ground after Tuesday trauma
The Russian currency remains volatile Wednesday after it suffered its own ‘Black Tuesday’ losing about 20 percent. The ruble strengthened to 61 rubles per 1 USD, before settling near 62 at market close in Moscow.

17.12.2014 06:30

'Ruble slide: Speculators moved in as Central Bank was asleep at the wheel'
For the sake of the Russian economy, the Central Bank cannot continue its waiting game strategy for too long hoping that speculators give up before it does, says Mike Ingram, a market strategist at BGC Brokers in London.

16.12.2014 14:25

Ruble rate does not reflect macroeconomic situation, govt to take measures - minister
The current ruble exchange rate does not correspond to the macroeconomic situation, Russia’s Economic Development Minister Aleksey Ulyukaev said, adding that market players now need a new set of guidelines.

16.12.2014 20:22

​Oil price drop ‘good for Britain’ – Chancellor Osborne
Chancellor George Osborne has welcomed the global fall in oil prices, calling the drop a “net positive” in providing UK consumers with cheaper sources of energy, while applying political pressure on Russian President Vladimir Putin.

16.12.2014 15:07

Slumping ruble should push Russia to ‘live in new reality’ – Bank chief
The plunging ruble is a signal for the Russian economy to adapt to new conditions, Russia’s Central Bank Chair Elvira Nabiullina said, following the surprise midnight decision to hike the key interest rate to 17 percent.

16.12.2014 08:59

Ruble plummets losing more than 20% in a day, hitting new dollar and euro lows
No end seems to be in sight for the plight of the Russian ruble, which slumped to new record lows against hard currencies Tuesday. The EUR traded at 93.5 against the ruble, and the USD at 75.

16.12.2014 10:38