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financial crisis

Lebanese central bank launches new foreign exchange system
Business & Finance

Lebanese central bank launches new foreign exchange system

  • President Michel Aoun said in March that banks would be allowed to handle transactions at market rates, but the central bank has only issued mechanisms in past weeks for the exchange platform.
  • It did not say whether customers would in future also be able to use the central bank's new Sayrafa platform to receive Lebanese pounds when selling dollars at a similar rate.
Published 20 May, 2021 06:48pm
NatWest's Ulster Bank fined record 38mn euros for mortgage overcharging
Business & Finance

NatWest's Ulster Bank fined record 38mn euros for mortgage overcharging

  • Additional failings that contributed to Ulster Bank's larger fine included what the central bank said was a deliberate strategy to seek to entice customers to convert their tracker rates to fixed rates during 2008.
  • Our investigation identified the numerous opportunities that UBID (Ulster Bank Ireland DAC) had to do right by its customers and the efforts that UBID went to in order to evade its obligations.
Published 25 Mar, 2021 05:52pm
Fragile recovery seen in global labour market after huge 2020 losses: ILO
World

Fragile recovery seen in global labour market after huge 2020 losses: ILO

  • The losses compared with the previous year were equivalent to 255 million full-time jobs and included an "unprecedented" 114 million workers joining the ranks of the unemployed.
  • I am pleased to say that there is some relatively good news in all of this, that we do see tentative signs of recovery - these signs are fragile, they are uncertain and the prospects are notably uneven.
Published 25 Jan, 2021 06:59pm
US oil may test resistance at $48.42
Markets

US oil may test resistance at $48.42

  • The resistance is identified as the 7% retracement of the uptrend from $37.06 to $49.28. Support is at $47.50, a break below which could cause a fall to $46.40.
Published 22 Dec, 2020 10:06am