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The Latest Breaking News on Financial Services

Pope further tightens controls, centralisation of Vatican finances

Pope Francis on Tuesday acted to eliminate wiggle room or foot- dragging by Vatican departments in imposing tighter financial controls, setting a deadline for the closing of investment portfolios in foreign banks, including in Italy.

Reuters

Barclays' Wallsend branch is to close after more than 50 years at The Forum

Barclays at The Forum shopping centre, Wallsend, has traded since 1969, but its imminent closure comes at a time when most customers are banking online and branches are closing around the UK

Chronicle Live

Saudi Prosecution: 11 Suspects Arrested for Stealing Money from Bank Accounts

Saudi Arabia's Public Prosecution has arrested 11 people for forming a criminal organization and impersonating bank employees with the purpose of stealing money from the bank accounts of Saudi citizens and residents. The Public Prosecution said its Financial Fraud Unit investigated the case and found the 11 suspects used a…

Asharq Al-Awsat

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Bank Indonesia hikes benchmark rates for first time since 2018

JAKARTA: Indonesia's central bank raised its benchmark interest rate for the first time since 2018 on Tuesday, stepping up monetary tightening to fight rising inflation.

Bangkok Post

Smaller banks follow big peers, hike FD rates

MUMBAI: IDBI Bank has said it will offer a new 500-day deposit that offers 6.7% interest as part of the Amrit Mahotsav (75 years of independence) scheme. The bank has also hiked interest rates on term deposits across various tenors from August 22. The highest rate offered under its regular…

The Times of India

Hampden & Co reports record first half results

Growth in lending products drove the private bank's positive trend

Insider UK

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

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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

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

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

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Asharq Al-Awsat

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…

Birmingham Post

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

Reuters

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.

Birmingham Post

Financial clearing agency Bank of London opens Belfast office

The company is creating 232 jobs in the city

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news in one place.

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Benzinga

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.

Asharq Al-Awsat

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…

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

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

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