Bulgaria’s Path to Strengthening the Economy and Embracing Sustainability
Bulgaria is on the cusp of a historic transformation as it strides towards adopting the euro and joining the Eurozone. With a thriving banking system and a strategic focus on sustainability, the nation is primed to unlock new opportunities and propel its economy forward. As Bulgaria prepares to embrace the single European currency, it sets its sights on a greener future and accelerated recovery. Discover how euro adoption promises to revolutionize Bulgaria’s economic landscape, empower businesses, and foster a more sustainable society.
Bank of England tells banks to take climate action now or face profit hit
Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on Tuesday.
Analysis: Biden’s regulatory agenda to take shape in 2022
Next year will be a turning point for U.S. financial policy as Democratic President Joe Biden’s new regulators ready a slew of rule changes that are set to create headaches for Wall Street and corporate America.
Wage dispute deepens at German public banks as inflation fears persist
A labour dispute at Germany’s public-sector banks deepened on Wednesday after a third round of talks failed to reach agreement, with inflation fears prompting unions to stand firm over demands for higher wages.
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.
Singapore’s DBS bets on post-pandemic recovery, profit up on lower credit costs
Singapore’s DBS Group Holdings (DBSM.SI) flagged strong loan growth and lower credit costs ahead after a rebound in its mainstay home market fuelled a better-than-expected 37% jump in quarterly net profit for Southeast Asia’s biggest lender.
Santander profit beats forecasts on strong UK, U.S. performance
Spain’s Santander (SAN.MC) beat forecasts with a 35% jump in second-quarter underlying profit on the back of lower loan loss provisions, strong U.S. consumer business and a rise in mortgage lending in the UK market.
Big banks seek to curb “speculative” planned UK forex class action
A proposed multi-billion pound claim against powerful banks over alleged foreign exchange (forex) rigging is too weak and speculative to be allowed to proceed as a U.S.-style class action, the banks’ lawyer told a London court on Wednesday.
BOJ aimed to work with govt in regional bank scheme, minutes show
The Bank of Japan’s scheme to incentivise consolidation among regional banks was meant to show it was working alongside the government to tackle problems in the country’s banking system, minutes of the deliberations showed.
Nasdaq hits record high as growth stocks rise; inflation data weighs
The Nasdaq index reversed early declines to hit a record high on Tuesday, helped by a rise in growth-linked megacap stocks and as earnings season kicked off on a positive note, while a solid rise in consumer prices in June weighed on sentiment.
