News
Qatar's finance conference to be held in London
QATAR - Qatar's next finance and investment conference will be held on 19 and 20 September in London. It is organized by the ABC establishment. Remarkable figures and ministers from Qatar and several financial, investment and industry establishments are…
Indonesia's central bank chief cleared of charges
INDONESIA - In an unexpected move, the Jakarta High Court acquitted Bank Indonesia Governor Sjahril Sabirin of all charges in connection with his involvement in the 1999 Bank Bali scandal, overturning the decision of the Central Jakarta District Court to…
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 15 August, published 29 August. The Board noted that recent statistics suggest that the prospects for a recovery of economic activity in Sweden are still good. The Chairman found that…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 23 August released the minutes of its regular FOMC meetings from 20 May to 24 June.
West African central bank suffers armed robbery
IVORY COAST - Armed robbers have raided the high-security central bank of Western Africa in Ivory Coast and stolen 2.6bn CFA francs ($3.8m).
Atlanta firm says no sir to a Greenspan knighthood
US - An Atlanta-based public interest law firm is protesting Alan Greenspan's acceptance of an honorary knighthood, reports the Associated Press, saying the Federal Reserve Chairman should seek Congress' approval first.
Brazil's Fraga sees 2002 GDP growth at 1 per cent
BRAZIL - Brazilian central bank head Arminio Fraga said he expects Brazil's economy, now suffering from the fallout of severe market turmoil, to expand at about 1 percent this year, less than previous forecasts, according to a research report by Goldman…
BOK governor concerned over current account
SOUTH KOREA - Park Seung, governor of the Bank of Korea (BOK), said Wednesday there are mounting concerns that the current account balance could swing into the red due to rising travel deficits and reckless consumption.
Poland's c bank head concerned over debt-GDP ratio
POLAND - Central Bank President Leszek Balcerowicz expressed concern over the growth of public debt in relation to GDP while speaking to Radio One in Poland on 29 August.
Bank of England vacancy may breach constitution
UK - The Bank of England may be left in breach of the terms of its legal constitution if Gordon Brown, UK Chancellor, fails to appoint a replacement for David Clementi, the outgoing deputy governor, by the weekend, the FT reported on Thursday.
Sveriges Riksbank Press Release
PRESS RELEASE - Governor Urban Backstrom spoke on Saturday at the 5th ACI Nordic Congress in Gothenburg on the topic of "What happened to the new economy?"
BIS Press Release
PRESS RELEASE - Basel Committee releases survey on internal audit in banks, 28 August. The Basel Committee on Banking Supervision is today publishing the results of a survey of internal audit issues in banks in 13 countries utilising the framework of the…
Belarus to abide by union in currency proposal
BELARUS - Belarusian President Alyaksandr Lukashenka on Monday received the chairman of the National Bank of Belarus, Pyotr Prakapovich, with a report. The main topic of the report was fulfilment of forecast indicators of the main guidelines for monetary…
BIS promotes solid bank audits in wake of scandals
SWITZERLAND - Accounting scandals that have plagued the U.S. corporate scene have highlighted the need for banks to have rigorous internal audit functions, the Bank of International Settlements (BIS) said on Wednesday in a report.
RBA Annual Report shows net profit down $1bn
AUSTRALIA - The Reserve Bank of Australia's net profit slumped more than $1 billion in 2001/02 after falls in earnings from its interest and foreign investment portfolio. The figure was revealed as the Bank published its 2002 Annual Report on Wednesday.
China to advise North Korean central bankers
UK - North Korea has sent a delegation of central bank officials to study China's financial system and commercial banking in one of the first signs that Pyongyang may be considering much needed financial reform.
Poland: Fin Min, central bank want fast euro entry
POLAND - A joint finance ministry and Polish National Bank team that is preparing an exchange rate strategy before Poland's entry to the European Union, agreed that Poland should join the euro zone as a matter of urgency, Deputy Finance Minister Ryszard…
Fraga says meeting with int'l bankers a success
BRAZIL - Brazilian central bank chairman Arminio Fraga said his meeting with international bankers in New York Monday was successful, Brazilian daily O Globo reported. Finance minister Pedro Malan was also present and said Brazil is prepared to honour…
Russian central banker warns on spending plans
RUSSIA - Oleg Vyugin, first deputy chairman of Russia's central bank, said the stability of the country's economy could be adversely affected if government carries out its plan to increase spending next year.
ADB, Uzbek central bank discuss future cooperation
UZBEKISTAN - A delegation of the Asian Development Bank's (ADB) board of directors is visiting Uzbekistan. It is headed by Julian Payne, executive director of the bank, BBC Monitoring reported Wednesday.
Reserve Bank of Australia Media Release
MEDIA RELEASE - Reform of credit card schemes in Australia, 27 August.
Interest rates unlikely to fall soon, Mboweni
SOUTH AFRICA - South Africans should not expect a drop in interest rates for the remainder of the year, Reserve Bank governor Tito Mboweni said on Tuesday. He also said he opposed the government's plans for a single banking regulator, and believed that…
Sweden moves a step closer to joining the euro
SWEDEN - Sweden's prime minister, Goran Persson, on Friday removed another obstacle towards membership of the euro single currency.
New currency expected soon to replace the Afghani
AFGHANISTAN - A new Afghan currency printed in Germany and resembling the Euro is being introduced shortly to replace the almost valueless Afghani, reported Gulf News on Monday.