Indonesia’s central bank announced on Tuesday that while it will be keeping interest rates low amid slow recovery, the reserve requirement ratio (RRR) for banks will be hiked aggressively to keep inflation at bay. Bank Indonesia (BI) Governor Perry Warjiyo …
The Commission for Security and Cooperation in Europe, also known as the Helsinki Commission, accused Switzerland of helping Russians hide their assets. “A recent Organized Crime and Corruption Reporting Project investigation found that Credit Suisse catered to dozens of criminals, …
Wells Fargo on Thursday revealed new targets to reduce greenhouse gas emissions through its financing of firms in the oil and gas sector. The bank’s interim targets aim to reduce the absolute emissions of companies it lends to in the …
The European Union (EU) has announced plans of cutting off Russia’s largest bank, Sberbank, from the SWIFT international payment system. In a speech delivered on Wednesday, European Commission President Ursula von der Leyen said they will “de-SWIFT Sberbank” including two …
Investigators from Frankfurt’s public prosecutor’s office searched the offices of Germany’s largest lender Deutsche Bank on Friday, focusing on the bank’s anti-money laundering efforts. Officers from the BKA federal police, the financial watchdog BaFin and the prosecutor’s office in Frankfurt …
Chinese regulators conducted an emergency conference with domestic and foreign banks to examine how they could protect the country’s abroad assets from US-led penalties comparable to those imposed on Russia for its invasion of Ukraine. According to a report from …
The World Bank is preparing $1.5 billion for its next financial assistance package to war-torn Ukraine, World Bank President David Malpass said on Tuesday. Speaking in Warsaw after talks with Polish officials over Ukraine, Malpass said the package was approved …
The United States (US) government has announced new sanctions that targets Russian President Vladimir Putin’s daughters and two of the country’s largest banks. A fact sheet released by the White House revealed that the full blocking sanctions will include Putin’s …
The European Bank for Reconstruction and Development (EBRD) has prevented Russia and Belarus from accessing the bank’s resources. According to EBRD’s governors, they have approved the application of Article 8.3 which prevents Russia and Belarus from receiving funding for projects …
The World Bank has announced suspension of four projects in Afghanistan worth 600 million after the de-facto Taliban regime in Afghanistan decided to ban girls from public high schools. The projects, to be funded under the revamped Afghanistan Reconstruction Trust …
