Outgoing Bank of England head to face questions over audio leak

Bank of England governor Mark Carney faces being hauled before parliament to answer questions about a embarrassing security breach that allowed hedge funds early access to an audio feed of market-moving press conferences. Mel Stride, the Conservative MP who is chair-elect of the Treasury select com

Lebanon’s banking association lowers benchmark interest rates

Lebanon’s banking association said on Friday that the Beirut Reference Rate (BRR) for US dollar loans had been reduced to 6.75 percent from 8.5 percent and on Lebanese pound loans to 9 percent from 11.5 percent. The association said the new rates come after a central bank circular issued on T

Dubai’s largest Islamic bank acquires smaller lender

Dubai Islamic Bank said on Thursday it has completed the acquisition of Noor Bank to consolidate its position as the top Islamic lender in the United Arab Emirates. DIB said in a statement posted on Dubai bourse website the acquisition was carried out through a share swap after securing the necessa

Dubai bank goes after debt-laden Al Jaber’s land in finance hub

Dubai’s biggest bank is going after a plot of land in the city’s financial hub that belongs to debt-laden Al Jaber Group. Emirates NBD PJSC is seeking to seize or sell the undeveloped land in the Dubai International Financial Centre after becoming frustrated by the pace of assets sales

Halkbank Says it Will Seek Dismissal of US Indictment, Judge's Recusal

A lawyer for Turkey’s state-owned Halkbank, which has been criminally charged by US prosecutors with helping Iran evade sanctions, said in a letter on Monday that it would seek to dismiss the case and have the judge assigned to it recuse himself. In a letter to US District Judge Richard Berma

Lebanese banks to resume normal work on Friday

 Lebanese banks will resume normal operations and receive customers on Friday, the banking association said, ending a two-week-long closure caused by massive protests against the country’s ruling politicians. “Thursday will be dedicated to internal work to complete (a backlog) of o

JP Morgan sees long-term growth in Middle East business after record year

JP Morgan, the biggest US lender by assets, is undeterred by a slowdown in Middle East economies and sees long-term growth for its business in the region, as sovereigns and corporates continue to issue debt, attract investment and drive mergers and acquisitions deals. The lender, which has the bigg

‘Better now than later’: PayPal quits Facebook’s Libra as Europe puts future of project in question

US-based PayPal Holdings Inc. has said it’s ditching Facebook’s project to create the Libra cryptocurrency. However, the Libra Association says it is better to know who’s not fully committed to its cause.“PayPal has made the decision to forgo further participation in the Libr

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