News
Philippines SEC outlines plan with central bank
PHILIPPINES - Securities regulators and central bank officials are set to jointly examine investment houses under their jurisdictions in the Philippines.
Major revolution in Nigeria's bank industry begins
NIGERIA - A major revolution in Nigeria's banking industry began Monday with the automation of cheque clearing among all 90 banks in the country. The launching of the Nigerian Automated Clearing System (NACS), an arm of the Nigeria Inter-Bank Settlement…
Steps needed to curb money laundering in Kuwait
KUWAIT - Money laundering is illegal but some people manage to get away with it, yesterday disclosed Talal Al-Sayegh from the Central Bank of Kuwait during a lecture organised by the Institute of Banking Studies (IBS).
ECB takes authority over foreign currency reserves
GERMANY - The European Central Bank (ECB) confirmed Monday, the Irish Times reported, that it must give permission before any euro-zone state can raid its own foreign currency reserves to ease domestic borrowing requirements.
Yugoslavian Dinkic spoke at Finance Fair on Monday
YUGOSLAVIA - International Finance Fair Finmar, gathering bankers, brokers, auditors, consultants, insurance and other companies, opened today in Novi Sad. Governor of the Central Bank of Yugoslavia Mladjan Dinkic said at today's opening that Yugoslavia…
Iraq's central bank governor visits Burkina Faso
IRAQ - Governor of Central Bank of Iraq Dr. Issam Rasheed Howeish has left Baghdad heading for Burkina Faso to attend the 27th meeting for the council of governors of Islamic Bank for Development due to be held there over the period 22-23 October and…
Vietnam postpones inaugural global bond issue
VIETNAM - Communist Vietnam has postponed its first-ever global bond issue until next year at the earliest, a senior central bank official said Monday.
Jamaica's central bank chief wins highest award
JAMAICA - Monday saw Derick Latibeaudiere, governor of the Central Bank of Jamaica, receive the top national honour for his services to finance.
Appointees to Russian c bank's supervisory council
RUSSIA - Prime Minister Mikhail Kasyanov has signed a decree appointing members of the Central Bank's supervisory council, the National Banking Council, Itar-Tass quoted government press service head Alexei Gorshkov as saying Friday.
Iran and Bahrain central banks sign banking accord
IRAN - Governor of Central Bank of Iran (CBI) Mohsen Nourbakhsh and Bahraini Central Bank Governor Sheikh Ahmed Mohammed al-Khalifa on Saturday signed an agreement on banking cooperation.
BSP chief presses revision of inflation target
PHILIPPINES - Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura made a fresh pitch Friday for revising the government's 2003 target for the inflation rate, noting economic planners' projections of the potential impact of a US-Iraq war on the…
Brazil's Fraga trusts next govt to make right call
BRAZIL - Brazilian Central Bank President Arminio Fraga on Thursday moved to calm markets rattled by persistent concerns about this month's presidential election, saying he expects the next government to make the right economic policy decisions.
Irish Yes vote clears obstacle to EU enlargement
IRELAND - Ireland yesterday ratified the Nice treaty at the second attempt, with an emphatic Yes vote that removes the biggest obstacle in the path to the enlargement of the European Union.
Sveriges Riksbank Press Release
SWEDEN - Repo rate left unchanged at 4.25 per cent, 17 October.
Sveriges Riksbank Press Release
PRESS RELEASE - The general public's confidence in the Riksbank remains high, 14 October.
Sveriges Riksbank Press Release
PRESS RELEASE - Jan Bergqvist appointed new Chairman of the General Council of the Riksbank, 18 October.
UK Treasury cool on Gibraltar making a mint
UK - While Gordon Brown expounds his policy on the euro, efforts by Gibraltar to set up a lucrative sideline in minting the coins have run into resistance from the UK chancellor, Gordon Brown.
Fed chief hits at intervention on sovereign debt
US - William McDonough, president of the New York Federal Reserve, yesterday broke ranks with other policymakers in the leading industrialised countries, expressing strong reservations about their drive to intervene between bankrupt governments and…
Ireland set for yes vote on Nice Treaty
IRELAND - Ireland looks to be on course to ratify the Nice Treaty, which paves the way for enlargement of the European Union, according to the last opinion poll before tomorrow's referendum.
Bank of Canada's Dodge softens rate hike stance
CANADA - David Dodge, the Bank of Canada governor, said yesterday economic growth would likely ease over the next three quarters so interest rates need not be raised as quickly as previously thought.
Gulf asks ECB to study benefits of GCC currency
OMAN - Gulf Cooperation Council (GCC) countries have entrusted the European Central Bank (ECB) to conduct a study on the modalities to be followed while integrating the economies of member countries and to switch over to a common currency, said the…
Kozlov - legal protection would boost confidence
RUSSIA - Russia's Central Bank has come out for greater legal protection of deals involving derivative securities on the national securities market and for introducing Russian depository receipts.
Japan's Koizumi vows 'bold' action on economy
JAPAN - Prime Minister Junichiro Koizumi vowed Friday to take "bold" action to pull Japan's economy out of its slump and stressed the importance of dialogue to resolve concerns over North Korea's nuclear weapons program.
Fed's McTeer says U.S. recovery so far jobless
US - Dallas Federal Reserve President Robert McTeer said on Thursday the U.S. economic recovery had so far been jobless, but the unemployment rate here still has stayed well below Europe's.