07022016Sat
Last update: Sat, 02 Jul 2016 08am

Banking & Finance

Business & Finance - Banking & Finance

China central bank says will keep implementing prudent monetary policy BEIJING: The central People's Bank of China said on Monday it will continue to implement prudent monetary policy and proactive fiscal policy.In its 2016 financial stability report, the central bank said it would also keep yuan interest rates at a reasonable level.Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

India cuts RBI governor shortlist to 4: officials NEW DELHI: The Indian government has narrowed down its list of candidates to become the next governor of the Reserve Bank of India to four, a senior government official told Reuters.A new Monetary Policy Committee also will be chosen soon, the official said.The moves seek to ensure policy continuity after RBI chief Raghuram Rajan shocked markets 10 days ago when he announced he would not seek reappointment in September.The failure of negotiations on his possible ...

Business & Finance - Banking & Finance

Dubai Islamic Bank says 3.2bn dirham rights issue oversubscribed DUBAI: Dubai Islamic Bank has completed its 3.2 billion dirhams ($871.3 million) rights issue aimed at bolstering its capital, with the issue roughly three times oversubscribed, it said on Sunday. The rights issue will increase the share capital of the bank from 3.95 billion dirhams to 4.94 billion dirhams, through the issuance of 988.4 million new shares, it said in the statement. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Deutsche Bank CEO says London financial centre will weaken but won't die BERLIN: The chief executive of Deutsche Bank says London will not die as a financial centre but it will become weaker after Britain voted to leave the European Union. John Cryan, a Briton who divides his time between Frankfurt and London, told Germany's Handelsblatt business daily that he expects higher volatility than usual on the financial markets in the coming weeks. "The financial centre won't die but it will get weaker," Cryan said of London. ...

Business & Finance - Banking & Finance

China, Russia sign MOU on yuan clearing in Russia BEIJING: The central banks of China and Russia on Saturday signed a memorandum of understanding on setting up a yuan clearing mechanism in Russia, the People's Bank of China said.The PBOC gave no details in the statement on its website, but said the establishment of such arrangements would be beneficial to cross-border trade and investment.Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

China central bank chief sees 'dynamic' monetary policy adjustments WASHINGTON: A more flexible yuan currency is important for China's development and reforms and monetary policy will be adjusted "in a dynamic way" to meet those goals, People's Bank of China (PBOC) Governor Zhou Xiaochuan said.Zhou, in a lecture at the International Monetary Fund on Friday, said the PBOC was listening to advice from foreign finance officials, but noted the central bank was pulled in many directions with multiple objectives, creating "tensions.""We are paying close ...

Business & Finance - Banking & Finance

China-backed AIIB seeks cooperation, looks to add new members BEIJING: The China-led Asian Infrastructure Investment Bank (AIIB) stressed its plan to cooperate with other development banks at its first annual meeting in Beijing on Saturday, and said it was taking applications for new members. The bank's board approved its first four deals worth $509 million on Friday, with three projects co-financed with the World Bank, the Asian Development Bank, the United Kingdom Department for International Development and the European Bank for Reconstruction and Development.The ...