World Bank revises up 2021 GDP forecast for Western Balkans to 5.9%
The World Bank on Thursday revised up its forecast for the economic growth of six countries of the Western Balkans to 5.9% in 2021 after a 3.1% contraction in 2020 due to the COVID-19 pandemic, but cautioned that recovery remains fragile.
Brand-new Positive Facilities (“Ejabiah”) awards core banking system contract to Islamic software powerhouse Path Solutions
September 22, 2021 – The newly established financing company in Saudi Arabia, Positive Facilities Co. Ltd.(“Ejabiah”), has signed an agreement on the 26th of August with Path Solutions for the implementation of its interest-free core banking platform. Ejabiah will be offering a unique and much needed zero-percent interest financing product, which is similar to Qard Hassan or benevolent […]
Santander in talks with over 200 Portugal staff hit by job cuts – source
Spain’s Santander (SAN.MC) is in negotiations with about 210 employees in Portugal as part of a wider cost-cutting plan that affects 11% of its workforce there, a source with knowledge of the matter said.
ECB’s Lane reveals in private meeting inflation target may be met by 2025 – report
European Central Bank (ECB) chief economist Philip Lane revealed in a private meeting with German economists that the ECB expects to hit its 2% inflation goal by 2025, the Financial Times said on Thursday in a report that was partly disputed by the bank.
Stop funding coal abroad, NGO group tells top investor Bank of China
Bank of China (BoC) (601988.SS), a top global investor in coal- power plants, must end the financing of such projects outside the mainland and support clean and renewable energy instead, an alliance of 35 non-governmental organisations said on Tuesday.
Factbox: How the BOJ is quietly unwinding Kuroda’s ‘bazooka’ stimulus
After years of shock-and-awe monetary stimulus, senior Bank of Japan officials are quietly dismantling radical policies introduced by Governor Haruhiko Kuroda.
Deutsche Bank regains Hong Kong IPO sponsor licence
Deutsche Bank (DBKGn.DE) has regained its Hong Kong Initial Public Offerings (IPOs) sponsors licence after it was suspended in June following the departure of key staff, according to a notice on the website of the city’s markets watchdog.
BNP Paribas in wealth management JV talks with China’s AgBank -sources
BNP Paribas’ (BNPP.PA) asset management arm is in talks to form a wealth management venture with a unit of Agricultural Bank of China (AgBank), sources said, as the French firm pursues a bigger slice of China’s $19 trillion market.
Australia, Malaysia, Singapore and South Africa launch cenbank digital currency scheme
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday.
Regulators warn Wells Fargo of new possible sanctions -Bloomberg
Frustrated at the pace of Wells Fargo & Co’s (WFC.N) efforts to compensate victims of its sales practice scandals, U.S. regulators have warned they may impose new sanctions on the bank, Bloomberg reported on Tuesday.
