News
Gay online bank shuts down
US - The first online bank aimed at the gay and lesbian community in the US is to close after admitting it could not make a profit in the current economic climate.
Argentine peso strengthens
ARGENTINA - It is now three days since Argentina allowed its currency, the peso, to float freely for the first time in more than a decade and so far the peso has held its own, contrary to many experts' predictions.
New US stock market rules unveiled
US - The US stock market regulator has proposed new rules for faster corporate disclosures, in the first reform taken in the wake of the Enron scandal.
Havel to re-appoint Niedermayer to CNB Bank Board
CZECH REPUBLIC - President Vaclav Havel will re-appoint central bank CNB vice-governor Ludek Niedermayer, whose six-year mandate would expire on 27 February, to the Bank Board for another term on Friday, presidential spokesman Ladislav Spacek told CTK…
Russian gov't to suggest amendments to c bank bill
RUSSIA - The Russian government intends to suggest its amendments to the Bill on the Central Bank of Russia before the second reading, Deputy Prime Minister, Finance Minister Alexei Kudrin told reporters.
Polish govt strategy breeds more caution
POLAND - Two weeks after Poland's left-wing government issued an ambitious five-year strategy to kick-start slumping economic growth, the National Bank of Poland has maintained a stony silence.
ECB Feb bulletin - Reiterates Duisenberg remarks
GERMANY - The European Central Bank Thursday repeated that interest rates in the euro zone remain at an appropriate level and that it expects a gradual economic recovery this year.
Latvian parl't approves Ruselis c.bank deputy head
LATVIA - A Latvian parliament spokeswoman said on Thursday lawmakers approved financier Andris Ruselis as the central bank deputy president, whose tasks will include preparing the country for eventual adoption of the euro.
Venezuela's currency slides after floating
VENEZUELA - Venezuela's currency has fallen 3.9% to about 824 bolivars to the dollar after the government scrapped five-year old exchange rate controls.
Banks review systems for managing risk
UK - Risk managers at banks in Britain and Ireland are re-examining defences against rogue traders following the loss of $750m (£532m) by Allied Irish Banks last week.
Argentina's peso firms
ARGENTINA - Argentina's peso has gained 10% against the US dollar on its second day as a free floating currency in a decade.
Peso float buys time in Argentina
ARGENTINA - The controlled flotation of the Argentine peso on Monday bought President Eduardo Duhalde's government a little time to continue improvising a plan to rescue the country from financial collapse, but pressing issues remain unresolved in the…
BoJ report paints bleak picture of Japan's economy
JAPAN - The Bank of Japan on Tuesday painted a bleak picture of the world's second largest economy in its monthly report, pointing to lower capital investment, weak private consumption and a harsh lending environment for small companies seeking to raise…
Inflation leap adds to expectation of rate rise
UK - Inflation leapt in January, outstripping economists' expectations and raising fears that companies are exploiting surging consumer demand to push up prices.
ECB's Noyer - Euro Undervalued Vs Dollar
EUROPE - European Central Bank Vice President Christian Noyer said Wednesday the euro is undervalued against the dollar, but added it was "very difficult" to tell when the euro would rebound.
Sovereign Debt Restructuring - Thomas C. Dawson
LETTER - A Letter By Thomas C. Dawson, Director, External Relations Department, International Monetary Fund, 7 February.
Bank of Israel Press Release
PRESS RELEASE - Developments in the Foreign-Currency Market, 12 February.
UK inflation posts sharp rise
UK - UK inflation has soared unexpectedly, making an increase in interest rates in March more likely.
Chavez appoints new head of state oil company
VENEZUELA - President Hugo Chavez on Saturday appointed a leftist central banker as head of state oil company Petroleos de Venezuela (PDVSA), a move that observers said sets the stage for foreign exchange controls and which will financially damage Latin…
Devaluation fears hit Nigeria's currency
NIGERIA - The Nigerian naira fell on the official currency market, following a slide on the black market on Friday on fears that a devaluation is imminent.
Greek media touts Papademos to replace ECB's Noyer
GREECE - Greek media has begun touting Bank of Greece Governor Lucas Papademos as a leading candidate to take over as vice president of the European Central Bank (ECB).
Havel probably breached law with c bank account
CZECH REPUBLIC - President Vaclav Havel has probably been violating the law for many years, the tabloid Super writes today.
Israeli regulators warn banks
ISRAEL - Israeli regulators warned commercial banks they looked to be inadequately covered against a surge in foreign-currency lending last year and urged them to tighten standards.
Laundering Bill will tighten rules, Jalan tells US
INDIA - The US has asked India to "redouble efforts against hawala" as part of the proposed measure to combat terrorist financing, Kenneth Dam, deputy secretary, US treasury department, told the media on Monday.