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The Latest Breaking News from central bank

Nigeria has just hiked interest rates: why it's the wrong recipe for curbing inflation

The Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately.

The Conversation

Lebanon Cenbank Governor, Brother Sue State over ‘Mistakes’ in Embezzlement Probe

Lebanon's central bank governor and his brother are suing the state over what they say were "grave mistakes" made by a public prosecutor in his investigation of whether they had embezzled public funds, according to a copy of the lawsuit. Their claim has led to concerns that the public probe…

Asharq Al-Awsat

Russian Minister Calls for Regulation on Crypto Mining

Asserting that mining of cryptocurrencies in Russia accounts for more than 2% of the total volume of energy consumed in the country, more than the electricity being used for agriculture, Vasily Shpak, Deputy Head of the Ministry of Industry and Trade said the sector needs to be regulated.

Benzinga

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Turkey Projects 7% Growth for Q1 2022

The Turkish economy's solid and balanced growth trend and the pioneering data point out that annual growth will be around seven percent in the first quarter of 2022, Treasury and Finance Minister Nureddin Nebati said Monday. Speaking at the General Assembly of the Banks Association of Turkey (TBB), Nebati said…

Asharq Al-Awsat

Qatar Central Bank Expects GDP Growth of 3.5% in 2022

Qatar’s gross domestic product (GDP) should grow 3.5% in 2022, Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al-Thani told a conference on Sunday in Doha. In his opening keynote at The Euromoney Qatar Conference on Sunday, Sheikh Bandar announced that the bank is working on designing a new…

Asharq Al-Awsat

Business: RBI to adopt graded approach to introduce digital currency

The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach to the introduction of Central Bank Digital Currency (CBDC) in conformity with the objectives of monetary policy, financial stability and efficient operations of currency and payment systems. Full story on Dynamite News:

Dynamite News

Doctors, hospitals in crisis-hit Lebanon go on 2-day strike

Dozens of doctors, nurses and medical personnel have rallied outside the Central Bank in the Lebanese capital of Beirut after declaring a two-day general strike

The Independent UK

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Live updates | Ukraine says Russia presses offensive in east

The General Staff of the Ukrainian military says the Russian forces have continued attempts to press their offensive in several sections of the frontline in the east and also launched missile and air strikes at infrastructure facilities across the country

The Independent UK

Lebanon Recovery Plan Includes Central Bank Debt Write-Off, Haircuts to Depositors

Lebanon's government foresees cancelling "a large part" of the Central Bank's foreign currency obligations to commercial banks and dissolving non-viable banks by November, according to a financial recovery plan passed by the cabinet on Friday. The document, seen by Reuters and verified as accurate by a minister, was passed by…

Asharq Al-Awsat

Forex crisis: Sri Lanka lowers limit of foreign currency people can hold to $10,000 from $15,000

COLOMBO: Sri Lanka's central bank on Thursday decided to substantially lower the limit of foreign currency a person can hold to $10,000 from $15,000 and said it will crack down on those possessing them for over three months as the island nation faced its worst economic crisis.

The Times of India

Sri Lanka lowers amount of foreign currency people can hold

Sri Lanka's central bank chief has said the island nation will lower the amount of foreign currency that individuals can hold to $10,000 from $15,000 and penalize those who hold foreign currency for more than three months by making it against the law

The Independent UK

UN Blames Lebanese Politicians for Forcing Population Into Poverty

Lebanon’s political and financial leaders are responsible for forcing most of the country’s population into poverty, the UN Special Rapporteur on extreme poverty, Olivier De Schutter, said in a report published Wednesday. He stressed that the Lebanese State, including its Central Bank, is responsible for human rights violations, including the…

Asharq Al-Awsat

Lebanese state violated human rights by mismanaging crisis, UN poverty envoy says

Lebanon's government and its central bank have committed human rights violations by impoverishing people through the "callous destruction" of the country's economy, an independent United Nations report said on Wednesday.

Reuters

Nigeria’s central bank chief to run for presidency in 2023

There’s been a multitude of interest from heavyweights and has-beens to succeed Muhammadu Buhari as Nigerian president.

Al Jazeera

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Roll Call

Kyiv's envoy backs using frozen Russian state assets to rebuild Ukraine - Roll Call

The government of Ukraine backs the United States seizing frozen Russian government assets and using them to rebuild the country.

Irish Mirror

Irish people with old pounds lying around could earn a mint as millions still not changed to euros

The Central Bank of Ireland continues to exchange old pound banknotes and coins for euros

Asharq Al-Awsat

Saudi Arabia Stresses Importance of Cooperation to Support Global Economic Recovery

Saudi Arabia underlined the importance of international cooperation to support global economic recovery and prevent negative repercussions amid the current international circumstances. Saudi Minister of Finance Mohammad Al-Jadaan revealed the Kingdom’s continuous efforts to support people and countries in need, including its recent provision of urgent support in the amount…

Asharq Al-Awsat

CBUAE: Real Non-Oil GDP Grew by 7.8% in Q4 2021

The real non-oil GDP grew by some 7.8% in Q4 2021, the Central Bank of the UAE (CBUAE) announced. It attributed this increase to the easing of lockdown measures and restrictions on international travel. It also pointed to a 9.3% annual increase in UAE oil production during the same period,…

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The Hindu

Cryptos and a CBDC are not the same thing

The central bank must note that a Central Bank Digital Currency can only be a fiat currency and not a crypto

Irish Mirror

KBC and Ulster Bank customers face ‘chaos’ as staff shortages cause major delays with new accounts

Some people who are trying to open with a new bank are being temporarily blocked from a number of services

Asharq Al-Awsat

Soaring Costs Put Turkey’s Energy Importer under Pressure to Hike Prices

Soaring world energy costs are piling pressure on Turkey's state energy importer BOTAS to further hike prices as it falls deeper into the red, even as manufacturers complain that recent price rises threaten their operations. The pipeline operator and trading company needed a 100 billion lira ($6.8 billion) payment from…

The Conversation

War in Ukraine: Russia's reputedly ‘sanction proof’ economy shows signs of stress

Seven weeks into the war, how is the Russian economy faring? The short answer is: well below expectations and the worse is yet to come.

The Times of India

Sri Lanka can overcome economic crisis provided Central Bank is allowed to run independently: Governor

COLOMBO: Exuding confidence in overcoming the unprecedented economic crisis, the newly appointed Governor of the Central Bank of Sri Lanka, Nandalal Weerasinghe said that one of the ways to overcome the current crisis situation is to allow the Central Bank to function independently.

Asharq Al-Awsat

Saudi Arabia Adopts Urgent Measures to Combat Financial Fraud

The Saudi Central Bank (SAMA) announced on Friday the implementation of urgent temporary precautionary measures to combat financial fraud. According to a circular issued by SAMA, banks operating in Saudi Arabia must adhere to a number of measures, including setting limits on daily electronic transfers and holding international transfers for…

Asharq Al-Awsat

Saudi Arabia Issues Draft Resolution on Implementing Payment Service

The Saudi Central Bank (SAMA) announced opening a public consultation on the draft implementing regulation of payments and payment services law. In the interest of transparency and broader participation, SAMA invites stakeholders and the public to provide suggestions and observations on the draft by visiting the Public Consultation Platform (Istitlaa)…

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