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The Latest Breaking News on Financial Services

Exclusive-U.S. commits to Afghan asset talks despite frustration with Taliban - sources

U.S. President Joe Biden's administration will press ahead with talks on releasing billions of dollars in Afghanistan's foreign-held assets despite the late al Qaeda leader's presence in Kabul and foot-dragging by the Taliban and Afghan central bank, according to three sources with knowledge of the situation.

Reuters

The banking industry overseer wants more powers, but will it get them?

Three years after it was formed, the committee enforcing breaches of the Banking Code of Practice has used its most serious sanction just twice. That power is writing the name of a bank on a report.

ABC News

UPI costs must be met through other means: Centre

Earlier, RBI had plans to levy charges for payment systems including UPI, NEFT and IMPS

The Hindu

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The Reserve Bank and the war on inflation

Why is the Reserve Bank facing flak from every angle over its economic handling of the pandemic?

Newsroom.co.nz

Holidaymakers from timeshare mis-selling scandal accuse Barclays of payment delays

The buyers were told ex-Manchester United stars Gary Neville and Ryan Giggs part-owned properties at Malta's Golden Sands Resort and borrowed from the bank to finance the deals

Daily Mirror

Former bank with locked safes that ended up as a cannabis factory is going to auction

The former drugs den is looking for a new purpose

Wales Online

What are green banks?

The Inflation Reduction Act establishes a federal green bank for the first time.

USAFacts

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Mortgage borrowers and renters told to brace for big financial hit by December

The full budget impact of the second most aggressive interest rate hiking cycle in the Reserve Bank's history is still months from being felt by millions of households.

ABC News

Egypt Central Bank Holds Rates Steady After Change of Governor

The Central Bank of Egypt (CBE) kept its overnight interest rates steady on Thursday, hours after a new governor was named to replace Tarek Amer, who quit on Wednesday. President Abdel Fattah al-Sisi appointed Hassan Abdalla as caretaker CBE governor on Thursday after Amer's resignation. Analysts said the CBE may…

Asharq Al-Awsat

Triodos Bank sees fall in profits amid 'challenging' economic climate

The European ethical bank said resolving the suspension of trade in its depository receipts remained a "key priority" for 2022

Birmingham Post

Pakistan picks central bank veteran Jameel Ahmad as new governor

Pakistan named Jameel Ahmad, a deputy governor of the State Bank of Pakistan (SBP), as the central bank's new governor on Friday, appointing him for a five-year term.

Reuters

Financial clearing agency Bank of London opens Belfast office

The company is creating 232 jobs in the city

Birmingham Post

A Remedy For Wages Falling Behind Inflation? Join A Small Business Where Wages Are Hot

Bank of America economists Anna Zhou and Taylor Browley released a note on Aug. 16 regarding the analyst firm's small business checkpoint.

Benzinga

Turkey's Central Bank Shocks with 100 Basis Point Rate Cut Despite Soaring Inflation

Turkey's central bank shocked markets on Thursday by cutting its main interest rate by 100 basis points to 13%, saying it needed to keep driving economic growth despite inflation hitting nearly 80% and a monetary tightening trend among its peers worldwide, Reuters reported. The lira dropped more than 1% as…

Asharq Al-Awsat

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Daily Record

Plans submitted to turn Scots village's last bank into new flats

Developer John Clink has submitted an application to Stirling Council planners seeking to convert the former Bank of Scotland branch in Buchanan Street, Balfron, into flats.

The Independent UK

Egypt appoints central bank caretaker chief amid crisis

Egypt’s president has appointed a caretaker governor of the central bank amid a grinding economic crisis triggered by the Russian war on Ukraine

Manchester Evening News

Man threatened to rape female police officer and 'bury her on the moors'

Steven Cooper tried to bite the officer after becoming abusive, a court heard

Irish Mirror

Irish expert advice on how you could save up to €80 by switching bank accounts

Switching your current account to a fee-free bank could save you around €80 a year if you are with one Irish bank

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The Independent UK

BofA CEO: Struggling Americans feel they are in a recession

The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point

The Independent UK

Bank of America's overdraft fees down 90% under new policy

Bank of America says the revenue it gets from overdrafts has dropped 90% from a year ago, after the bank reduced overdraft fees to $10 from $35 and eliminated fees for bounced checks

Edinburgh Live

First Direct offering customers free £175 cash if they switch bank account using CASS

High street bank First Direct are offering customers the chance to increase how much they have by £175 if they switch their current account using the Current Account Switch Service (CASS).

The Hindu

T-AIM, Wells Fargo unveil Academic Grand Challenge

HYDERABAD

Irish Mirror

Ireland scams: Gardai stop fraud in nick of time as person almost robbed of €1.6k

A person was moments away from having €1,600 stolen from their account by fraudsters only for Gardai to intervene and prevent the damage from being done

Bangkok Post

Held rates to help vulnerable borrowers

While the higher cost of living has impacted vulnerable borrowers and driven some of them back to debt relief measures, banks' current holding of interest rates unchanged will help ease their financial burden, said an executive of the Bank of Thailand.

Asharq Al-Awsat

Officials Release Beirut Gunman after Bank Drops Charges

Lebanon’s state prosecutor on Tuesday released a man who took up to 10 people hostage in a bank at gunpoint while demanding funds from his locked savings account. In a case that has drawn nationwide attention, food delivery driver Bassam al-Sheikh Hussein, 42, fired three warning shots from a shotgun…

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