The Latest Breaking News on Financial Services

Gov’t mismanagement, external pressures as Arab currencies crash

Several Arab countries outside the Gulf have seen currency devaluation and rising inflation.

Al Jazeera · Jan 25, 2023

Lebanese Protest Record-Low Value of Local Currency

Protesters burned tires and held up handfuls of local currency bills on Wednesday at the entrance of the Lebanese Central Bank in Beirut, furious over the spiraling devaluation of the lira. Lebanon's economic meltdown, which began in 2019, has cost the lira around 97% of its value. The decline has…

Asharq Al-Awsat · Jan 25, 2023

Lebanese protest record-low value of local currency

Protesters burned tyres and held up handfuls of local currency bills on Wednesday at the entrance of the Lebanese central bank in Beirut, furious over the spiralling devaluation of the lira.

Reuters · Jan 25, 2023

Saudi Arabia Seeks to Accelerate Development of Digital Currency

As the Saudi Central Bank (SAMA) said on Monday that it was carrying out experiments with a central bank digital currency and exploring the potential benefits and risks of its use, economists told Asharq Al-Awsat that the local market was ready and enjoyed the ability to deal with the project…

Asharq Al-Awsat · Jan 25, 2023

Who is Richard Sharp? BBC chairman who ‘helped Boris Johnson secure £800,000 loan’

Former banker worked for more than 30 years in the financial sector, including a 23-year stint at investment giant Goldman Sachs

The Independent UK · Jan 25, 2023

Greedy bosses pocketed Covid cash as up to £27bn of taxpayer loans lost

A company in Keighley received a £40,000 Bounce Back loan from the Government and later the same day transferred all but £500 into the director's personal account

Daily Mirror · Jan 25, 2023

Concern over second bank closure announcement in Whitley Bay in three months

Whitley Bay Labour councillor John O'Shea is concerned the closure will disproportionately affect the eldery and people who need face-to-face service

Chronicle Live · Jan 25, 2023

Celebrities call on UK banks to stop financing new oil, gas and coalfields

Stephen Fry, Emma Thompson and Mark Rylance add their voices to Richard Curtis’s Make My Money Matter campaign

The Guardian - UK · Jan 25, 2023

Japan PM Kishida to pick new BOJ chief while monitoring economy

Prime Minister Fumio Kishida will make a decision on the next Bank of Japan (BOJ) governor while watching future economic trends, he said on Wednesday.

Reuters · Jan 25, 2023

China uses US debt battle to deflect pressure on Africa debt

The Chinese government says the U.S. should stop pressuring it on debt relief for Zambia and get its own financial house in order to avert a default and the possible fallout on the global economy

The Independent UK · Jan 25, 2023