A US appeals court has revived private antitrust litigation accusing major banks of conspiring to manipulate the Libor benchmark interest rate, in a big setback for their defense against investors' claims of market-rigging.
The World Bank cut its 2015 and 2016 growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by the risk of a sharp slowdown in China and possible spillovers from expected increases in US interest rates.
Federal Reserve policymakers appeared deeply divided on Saturday over how seriously problems in the world economy will affect the US, a fracture that may be difficult for Fed chair Janet Yellen to mend as she guides the central bank's debate
The Reserve Bank of India is unlikely to loosen policy before October, particularly with retail inflation at an eight-month high after food prices spiked, a Reuters poll of economists found.
All but four of 51 forecasters polled e
India's central bank lowered its policy repo rate by 25 basis points to 7.5 per cent on Wednesday, its second inter-meeting cut this year on the back of easing inflation and what it said was the "weak state" of parts of the economy
Brent crude held below $103 a barrel on Friday, retaining most of its steep gains from the previous session, when an interest rate cut by the European Central Bank boosted investors' appetite for riskier assets.
The decision c
Yemen's central bank cut its deposit rate, the key rate which it uses to adjust monetary policy, by 3 percentage points to 15 per cent, the bank said in a statement carried by state news agency Saba on Thursday.
The central ba
The average rate of interest on trade loans offered by Bahrain banks has risen to 5.24 per cent at the end of third quarter of this year, compared to 4.79 per cent in the same period last year, reports our sister paper Akhbar Al Khaleej.
Barclays has announced the launch of the first live and electronic execution of interest rate swaps on multiple Mena currencies.
Accessible through Barclays trading platform BARX, via Bloomberg, clients can either click-and-trade or reques
An Egyptian businessman and a group of Gulf investors have made a buyout approach to Egypt's biggest investment bank, EFG Hermes, one of their representatives said on Thursday.
Egyptian share prices have tumbled since the uprising that ous