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Libor likely to be replaced by dual-track systemA dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate Libor as soon as next year, the Financial Times reported on its website on Sunday. More… |
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How gold, silver prices are 'fixed'London's gold and silver markets face the possibility of a probe into price setting, putting a century-old practice under the spotlight after the Libor rigging scandal that exposed widespread interest rate manipulation by b More… |
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United Arab Bank obtains $125m club loanSharjah-based United Arab Bank has secured a club loan worth $125 million for general corporate purposes, a company statement said on Wednesday. The two-year facility, which can be extended to three years, was signed at a margin o More… |
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How UBS manipulated interest ratesSwiss bank UBS has been fined $1.5 billion by British, Swiss and US regulators to settle charges of manipulating global benchmark interest rates. UBS said on Wednesday it will pay $1.2 billion t More… |
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UBS admits fraud; bank fined $1.5bnSwiss bank UBS was hit with a $1.5 billion bill and admitted to fraud on Wednesday in order to settle charges of manipulating global benchmark interest rates. The penalty agreed with US, UK and More… |
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UBS faces $1bn fine for UK Libor riggingSwiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the London interbank offered rate (Libor) interest rate benchmark, a person familiar with the situation said. Such a penalty would be more than More… |
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UK watchdog delivers new plan to fix LiborBritain's top financial watchdog delivered a 10-point plan to fix Libor but stopped short of scrapping the benchmark interest rate in a much-awaited reform of a system plagued by scandal. "The system is broken and needs a More… |
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Nakheel offers lenders repayment after 4.5 yearsDubai-based developer Nakheel, restructuring $10.9 billion in debt, has offered lenders repayment after four and a half years at a rate of 4 percent on a portion of its debt, sources familiar with the deal said. The terms of the restructur More… |
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Qtel seeking to refinance $2bn loanQatar Telecom (Qtel), the leading telecom services provider in Qatar, is signing a group of senior banks into a $2 billion loan that will reduce its borrowing costs, banking sources said. Qtel is refinancing a $2 billion for More… |
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Qtel seeks $2 billion refinancingQatar Telecom Co (Qtel) has approached banks to refinance a $2 billion forward-start loan agreed last year in order to reduce its borrowing costs, banking sources close to the deal said. Forward start loans were popular in 2009 for compani More… |
