Banks (Finance)
The Bank of England's Monetary Policy Committee (MPC) has decided to keep interest rates at 4%, despite rising pressure to cut borrowing costs. Governor Andrew Bailey emphasized that the UK is still not out of the woods when it comes to inflation, with the Consumer Prices Index (CPI)
Banks (Finance)
Zenith Bank Plc has announced an interim dividend payment for the period ending June 30, 2025, as part of its ongoing efforts to streamline dividend payments and enhance shareholder engagement. The dividend will be paid to shareholders whose names appear in the Register of Members at the close of business
Banks (Finance)
The Philippines' robust economy, strong banking system, and sound policies have been recognized by the Japan Credit Rating Agency (JCR) as key factors contributing to the country's sustained investment-grade credit rating. In its latest report, JCR highlighted the Marcos Jr. administration's efforts to achieve fiscal
Banks (Finance)
Stakk Ltd, an Australian technology company, has been chosen by Robinhood Markets, Inc. to deliver its Embedded Finance solution. This marks a significant milestone for Stakk, as it expands its reach into the US market. The agreement is designed to provide Robinhood's customers with access to a range
Banks (Finance)
The Enforcement Directorate (ED) has made a significant arrest in a money laundering case related to a fraud in the Andaman and Nicobar State Cooperative Bank. Former Andaman and Nicobar Islands MP and Congress leader, Kuldeep Rai Sharma, has been taken into custody under the Prevention of Money Laundering Act
Banks (Finance)
The Bank of England's Monetary Policy Committee (MPC) maintained interest rates at 4% for the second consecutive month, as policymakers expressed caution regarding the UK's inflation trajectory. Governor Andrew Bailey warned that while inflation was expected to return to the 2% target, the UK was "
Banks (Finance)
India's mergers and acquisitions market has experienced a significant surge, reaching nearly $41 billion this year, driven by landmark deals from prominent conglomerates including Reliance, JSW Group, and Tata Sons. The private equity activity has reached its highest level in over a decade, with global investors and sovereign
Banks (Finance)
The Bombay High Court has intervened in a dispute between Anil Ambani's Reliance Communications (RCom) and Bank of Baroda, granting interim relief to the former by restraining the bank from taking coercive steps against the company's loan accounts. The court's decision comes in response
Banks (Finance)
The Federal Reserve's interest rate cut is the first this year, but it might not have a significant impact on mortgage rates or car loans. The rate cut sets the federal funds rate, influencing banks to charge customers lower interest rates. However, this doesn't directly change
Banks (Finance)
The Federal Reserve cut its benchmark interest rate for the first time in nine months, lowering the federal funds rate to about 4.1% from 4.3%. This move is expected to affect the cost of credit, including credit cards, auto loans, and mortgages. The Fed's dual mandate
Banks (Finance)
The Reserve Bank of India (RBI) has given its approval for Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to 24.99% stake in YES Bank, part of the bank's restructuring plan from 2020. This approval allows SMBC to acquire an additional 4.2% equity stake in YES
Banks (Finance)
The Uzbekistan parliament has taken a significant step toward diversifying its financial sector with the approval of a draft law on Islamic banking in its first reading. The initiative aims to expand access to financial services for citizens and businesses, attract foreign investment, and create new mechanisms for economic support.
