Indonesia Central Bank Pushes RRR to 9% in September

Fourth EstateIndonesia Central Bank | Image by senjakelabu29 from Pixabay

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 …

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Helsinki Commission Accuses Switzerland of Hiding Russian Assets

Fourth EstateUS Helsinki Commission - OSCE Parliamentary Assembly

 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, …

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Wells Fargo Adds Emissions Target Requirements for Oil, Gas Clients

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 …

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Russia’s Sberbank to be Cut Off from SWIFT Payment Platform

Fourth EstateRussian Sberbank branch in Prague, CZ (2017 file photo)

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 …

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Deutsche Bank Raided Over Late Filing of Anti Money-Laundering Report

Fourth EstateDeutsche Bank Twin Towers as seen from South-East Frankfurt am Main

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 …

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World Bank Says It Is Preparing $1.5 Billion Aid for Ukraine

Fourth EstateWorld Bank Logo outside building

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 …

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US to Impose New Sanctions on Putin’s daughters and Russian Banks

Daniel HinterramskoglerSberbank Europe AG - Daniel Hinterramskogler

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 …

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Russia and Belarus Cut Off From European Bank for Reconstruction and Development Resources

Fourth EstateEuropean Bank for Reconstruction and Development headquarters in London, UK - EBRD

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 …

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World Bank Freezes $600m Afghan Fund over Taliban Ban On Girls Education

Fourth EstateWorld Bank Logo outside building

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 …

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