China's central bank continued to inject liquidity into the banking system on Tuesday, with 12 billion yuan (1.96 billion U.S. dollars) of 7-day reverse repurchase agreement (repo) operations.
Cypriot authorities on Tuesday announced the Bank of Cyprus had been fully recapitalized by converting 47.5 percent of uninsured deposits into shares in the bank, as part of the eastern Mediterranean island's 10 billion euros bailout.
China's removal of lending rate control is a key step in interest rate liberalization, but it has a principally symbolic meaning and its practical impact on bank behavior is limited, experts have said.
China's central bank announced a key move Friday to liberalize bank lending rates, underlining the government's resolve to push market reform to revitalize the slowing economy.
China's central bank on Tuesday stressed that the country is not short on liquidity and the current cash crunch in the interbank market will gradually ease.
China's key stock indices recorded the biggest daily loss in nearly four years on Monday over concerns about the liquidity crunch in the financial system and subdued strength in the world's second largest economy.
Bank of China, the country's leading commercial bank, on Thursday evening denied a media report claiming the bank had defaulted earlier in the day.
Financial services firm Barclays has become the latest international financial institution to raise the 2013 growth forecast for the Philippines.
A Jewish man had carried out a shooting rampage at a bank in southern Israel on Monday, in which four people were killed and seven others wounded, local media reported.
Following the Hong Kong Shanghai Corporation (HSBC)’s announcement of layoff plan, a top manager of its subsidiary Hang Seng Bank swept aside fear of redundancy for her subordinates.
An agreement among BRICS nations to establish a new development bank has been hailed as a boon to the five emerging economies as well as the global economy.
The World Bank on Tuesday welcomed the move taken by the BRICS countries to establish a development bank, vowing to work closely with the new lender to end poverty and build shared prosperity throughout the developing world.
The Cypriot government announced on Wednesday that banks will remain closed for five more days as politicians and technocrats probe ways of urgently raising funds to close a gap created when parliament rejected a levy on bank deposits.
With no mention of Chinese banks setting their own interest rates, China's central bank governor, Zhou Xiaochuan, said the country should remain on high alert, for inflation.
China Everbright Bank will resume its initial public offering (IPO) in Hong Kong by issuing up to 12 billion H-shares, the bank announced Wednesday.
The Philippine currency is likely to continue the rising trend this year, even in the face of global currency wars, the country's central bank predicted on Sunday.
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