11th September 2019
Washington is not yet ready to impose sanctions on Russia’s state oil giant Rosneft in connection with the company’s business in Venezuela, but may consider possible restrictive measures in the future, US Special Representative for Venezuela Elliott Abrams said during a telephone briefing broadcast in Brussels. “Yes, the United States… Read More
11th September 2019
As a growing number of banks around the world refuse to move money on President Nicolas Maduro’s behalf, Venezuela has found an ally in the Bank of Spain, according to two people with knowledge of the matter. Venezuela’s central bank is increasingly relying on its Spanish counterpart to transfer and… Read More
10th September 2019
Britain’s new system of banker accountability has led to a “tangible” improvement in culture but modest changes are still needed, UK Finance said on Tuesday. The trade body for banks in Britain published the sector’s first major appraisal of the senior managers and certification regime (SMCR) introduced in 2016 as… Read More
10th September 2019
The chairman of the U.S. Securities and Exchange Commission chided counterparts around the world for spotty enforcement of antibribery laws. In a speech in New York on Monday, Jay Clayton said countries that neglect to punish corporate bribery create a two-tiered system that gives their domestic companies a leg up… Read More
10th September 2019
France will likely win Britain’s financial services crown in the European Union after Brexit, which leaves the bloc’s economy more reliant on struggling euro zone banks, New Financial think tank said on Tuesday. Brexit will most likely lead to a shift in the tone and direction of policy on EU… Read More
10th September 2019
Pakistan on Monday submitted detailed answers to 125 questions posed by the Financial Action Task Force (FATF) on moves taken by it to strengthen anti-money laundering and combat financing of terrorism, as Islamabad seeks to move out of the FATF Greylist. The report was submitted by Pakistan’s Minister for Economic… Read More
10th September 2019
When Lafarge, one of the world’s leading producers of building materials, acquired a cement plant in the north Syrian town of Jalabiya in 2007, it was with the hope of expanding into the Middle Eastern markets. The French company—which became LafargeHolcim after merging with a Swiss firm in 2015—spent over… Read More
10th September 2019
While one Iranian tanker is attracting global attention, serious oil watchers remain absorbed by a bigger mystery: the hunt for the rest of Iran’s fleet. The quest has led to ever more inventive methods of tracking ships, and divergent views on the amounts of crude secretly slipping into world… Read More
10th September 2019
Efforts by the Bank of Central African States (BEAC) to tackle money laundering and restock woefully thin foreign exchange reserves are causing dire currency shortages and delays to transactions across the six-nation currency union, businesses say. New BEAC rules introduced in June are aimed at bringing order to a monetary… Read More
10th September 2019
Cross-border payment startups are rushing into Asia as deregulation of the sector has enabled online services to operate in the region, in a major threat to existing banks. Among them, TransferWise, a U.K.-based online remittance company, will launch a debit card in Singapore in the next couple of months and in… Read More