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The Latest Breaking News on Financial Services

IMF not expected to discuss Sri Lanka before year-end -sources

The executive board of the International Monetary Fund is not expected to formally approve Sri Lanka's $2.9 billion bailout before year-end, a key step required for the embattled country to receive funding, two sources familiar with the matter said.

Reuters

Bank of England to run stress tests on pension funds, insurers, and other lenders

More needs to be done to ensure that the non-bank financial sector does not pose a threat to the UK’s financial stability, Bank says

The Independent UK

HDFC gets nod from exchanges for transfer of NCDs to HDFC Bank

NEW DELHI: Mortgage lender HDFC Ltd on Tuesday said it has received approval from exchanges for transfer of non-convertible debentures (NCDs) to its subsidiary HDFC Bank.

The Times of India

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Russian businessman asks London court to pause $850mln lawsuit over sanctions

A prominent Russian businessman on Tuesday asked a London court to pause an $850 million fraud lawsuit brought by two Russian banks because of UK sanctions, arguing that any money recovered could be used to “indirectly fund the war in Ukraine”.

Reuters

GDP growth figures highlight growing risk of stagflation

As NZ reports another quarter of slow economic growth, it is combining with inflationary pressures to pose a worrying economic outlook – here and around the world. A resilient China can help NZ through a worrying economic future.

Newsroom.co.nz

Millions of mortgage holders to see payments jump, Bank of England warns

AROUND four million mortgage borrowers are set to see their monthly payments jump ...

The National (Scotland)

SkyCity's Australian woes are sheeted home to NZ

Dirty money, literally and figuratively, is at the centre of a lawsuit focusing on SkyCity Adelaide, reports Andrew Bevin

Newsroom.co.nz

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Police looking for man after £13,000 stolen in cashpoint robberies

Police are searching for a suspect in connection with robberies in Lewisham, Lambeth, Belvedere and Bromley

Evening Standard

Three held for stealing money from ATMs in Andhra Pradesh, Rs6.91 lakh recovered

VISAKHAPATNAM: The Vizag city police arrested three of a four-member inter-state gang for stealing (fraudulently withdrawing cash) money from the ATM kiosks of Kanakamahalakshmi Co-operative bank in the city and they have recovered Rs6.91 lakh cash, 12 kgs of dry ganja, three mobile phones and one bike from the gang.

The Times of India

Tory MP Adam Afriyie declared bankrupt over £1.7 million debt

Judge Nicholas Briggs made a bankruptcy order against Adam Afriyie, who represents Windsor, at an online hearing in the Insolvency and Companies Court.

Daily Record

Conservative MP Adam Afriyie made bankrupt due to debts of £1.7m

Judge Nicholas Briggs made a bankruptcy order against Adam Afriyie, who represents Windsor, at a hearing in the Insolvency and Companies Court

Evening Standard

Tory MP vows to stay on despite being declared bankrupt over £1.7 million debt

A CONSERVATIVE MP has been made bankrupt after a judge in a specialist court heard that he owed around £1.7 million to the taxman and a major bank.

The National (Scotland)

Tory MP made bankrupt due to £1.7m debt amid doubt over seat

Windsor MP hit with bankruptcy order – but insists he won’t stand down until next general election

The Independent UK

Bank of England to stress test hedge funds and private equity lending

Central bank to examine shadow banking sector amid fears it could put UK financial stability at risk

The Guardian - UK

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The Independent UK

Mortgage payments to surge by £3,000 a year, says Bank of England

Four million mortgage borrowers set to see monthly payments jump in 2023

The Independent UK

About 4m mortgage borrowers to see repayments jump next year, Bank warns

People with a fixed-rate home loan due to expire at the end of 2023 are facing average monthly repayment increases of about £250.

Evening Standard

Europe’s biggest life sciences lab building may be coming to Canary Wharf

Plans for a “vertical campus” at North Quay would bring research scientists into London’s second financial centre

Asharq Al-Awsat

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…

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news in one place.

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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…

Insider UK

Supply chain issues see goods worth billions sitting in warehouses

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

Bangkok Post

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.

Reuters

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.

Bangkok Post

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.

Reuters

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.

Tribune News Service

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