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The Latest Breaking News on Financial Services

Saudi Arabia to Expedite Opening of Accounts for Foreign Companies

The Saudi Central Bank (SAMA) has called on local banks to facilitate and speed up the procedures for opening accounts for foreign companies, in order to encourage them to transfer their regional headquarters to the Kingdom. The step is aimed at strengthening the country’s economy, providing employment opportunities, and boosting…

Asharq Al-Awsat

Iraq Receives $8 Mn from UN Compensation Commission After Full Payment to Kuwait

The Central Bank of Iraq (CBI) received the remaining sum from the UN Compensation Fund after paying all compensations to Kuwait relating to the invasion of Kuwait during the rule of late President Saddam Hussein in 1990. In a statement, CBI said it received $7.9 million, the remaining money in…

Asharq Al-Awsat

Supply chain issues see goods worth billions sitting in warehouses

Scottish manufacturers hit by delays to key parts, ingredients and materials

Insider UK

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Hong Kong drops curbs on incoming travellers, scraps Covid app

HONG KONG: Arrivals in Hong Kong from Wednesday will no longer receive an 'amber' code barring them from some venues, Chief Executive John Lee said, while dropping use of a government-mandated Covid-19 mobile application.

Bangkok Post

Hong Kong drops curbs on incoming travellers, scraps COVID app

Arrivals in Hong Kong from Wednesday will no longer receive an 'amber' code barring them from some venues, Chief Executive John Lee said, while dropping use of a government-mandated COVID-19 mobile application.

Reuters

Local banks eager to step up regional expansion

Local banks have continued to gear up for regional business expansion, aiming to create higher income from the growth potential of the Asean economy in the post-pandemic period.

Bangkok Post

IMF shareholders deeply divided on whether to suspend surcharges on some loans

The International Monetary Fund's executive board on Monday discussed the surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid quickly, but failed to agree to launch a formal review.

Reuters

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News briefs

Biden’s student-loan relief plan gets expanded review from Supreme Court

Tribune News Service

US announces sanctions against son of Zimbabwean president

The US Treasury Department has accused Emmerson Mnangagwa Jr of ties to sanctioned businessman Kudakwashe Tagwirei.

Al Jazeera

Biden’s student-loan relief plan gets expanded review from Supreme Court

The U.S. Supreme Court expanded a planned showdown over President Joe Biden’s student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.

Tribune News Service

Jamie Dimon warns of 'extraordinary' dangers of Ukraine War and global energy crisis

JPMorgan’s CEO warned of a prolonged energy crisis, while calling for a “Marshall Plan for energy” to combat oil and gas underinvestment.

Fortune

November inflation print provides impetus to end rate hike cycle: SBI economists

MUMBAI: The November inflation print of 5.88 per cent provides impetus to end the rate hike cycle, economists at the country's largest lender SBI said on Monday.

The Times of India

Glasgow TSB branch 'robbed' as police close bank to investigate

The bank remains closed this afternoon as police investigate the robbery. The TSB bank, on Kilmarnock Road has temporarily closed its doors to customers following the incident.

Glasgow Live

Interest rate hikes by European Central Bank were 'positive for Irish banks'

Department of Finance documents show officials said investor appetite for AIB had increased 'notwithstanding lingering concerns' of a recession coming in Europe

Irish Mirror

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Manchester Evening News

Grade-Two listed former bank that has lain empty for years to be turned into co-working offices

The former NatWest bank was built in 1905 in ‘flamboyant baroque style’

Chronicle Live

Four con artists jailed after they scammed North East pensioners out of £200,000

Six victims from across the region were identified as fraudsters targeted them purporting to be police officers

Tribune News Service

Student loan forgiveness “highly unlikely” as Supreme Court reviews case, says expert

December 1st 2022, the federal Supreme Court rejected President Biden’s immediate request to revive his student debt relief plan. The court will review oral arguments in February 2023 and then determine whether the leading lawsuit against the program has merit.

Dynamite News

Rs 200 Cr Money Laundering Case: Delhi court adjourns Actor Jacqueline Fernandez’s Hearing Till 20 December

A Delhi Court on Monday deferred the arguments on charge in Rs 200 crores money laundering case related to Sukesh Chandrasekar and Bollywood actress Jacqueline Fernandes. Read on for details:

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Manchester Evening News

Bank of England expected to further increase interest rates

Interest rates could shoot to 3.5 per cent from next week following a meeting of the Monetary Policy Committee

The Guardian - UK

Metro Bank fined £10m for misleading investors

FCA also penalises two of challenger bank’s former top executives

The Times of India

Bombay HC grants interim bail to Sena MLA's aide in money laundering case

MUMBAI: The Bombay High Court on Monday granted interim bail to an aide of Shiv Sena (Eknath Shinde faction) MLA Pratap Sarnaik in a money laundering case being probed by the Enforcement Directorate (ED).

The Guardian - UK

US banks named as being among least ethical UK operators

A new study scores the best and the worst accounts based on key issues such as climate and tax avoidance

The Times of India

Madhya Pradesh: ED starts money laundering probe against BP Food Products

BHOPAL: Enforcement directorate has started a money laundering probe against the directors of Gwalior-based BP Food Products Private Limited in connection with a fraud case.

Bangkok Post

Britain's GDP grows 0.5% in Oct: statistics office

LONDON: Britain's economy grew 0.5% in October, official data showed Monday, after a sharp fall the previous month in part because of the national holiday for Queen Elizabeth II's funeral.

The Guardian - UK

UK economy returns to growth as GDP rises 0.5% in October

Growth figure shrank 0.3% in a quarter, reflecting concerns over lengthy recession

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