Banking Sector
warning: Creating default object from empty value in /home/topnewae/public_html/topnewsae/modules/taxonomy/taxonomy.pages.inc on line 33.

Top Fed Official says Slower Rate Hikes could be on the Cards Due to Weaker Global Economic Growth

Top Fed Official says Slower Rate Hikes could be on the Cards Due to Weaker Glob

On Friday, one of the top Federal Reserve official suggested that the central bank probably requires keeping the key interest rates lower for a longer time due to a weaker economic growth globally, the dollar weighing stronger vs. a basket of other currencies and an unexpectedly longer duration of low oil prices.

Citigroup Reports Biggest Full Year Profit in Almost a Decade

Citigroup Reports Biggest Full Year Profit in Almost a Decade

On Friday, Citigroup Inc. reported its largest full-year earnings in almost ten years. That shows that the strategy of the firm to get leaner is working to its advantage.

However, shares of Citigroup dipped 6.4 percent which is a bigger drop compared to other banks or considerable size and also the wider market. Drop in oil prices and slowing economy in China has not worked well for financial institutions in the past year. Compared to its contemporaries, Citigroup has greater exposure in international markets which also includes Asia.

Brazil’s Central Bank Plans to Take Action as 2015 Inflation Rate Surpasses Target

Brazil’s Central Bank Plans to Take Action as 2015 Inflation Rate Surpasses TargetBrazil's inflation rate grew at a rate beyond the government's expectations for 2015. It was at its highest level compared to figures noted in almost last twelve years.

The more than ten percent rate is an indication for the government to take action to control prices in spite of growing recession.

Central Bank of Nigeria Says the Country’s Foreign Reserves Dropped to U.S. $29.13 Billion

Central Bank of Nigeria Says the Country’s Foreign Reserves Dropped to U.S. $29.13 BillionOn Thursday, the Central Bank of Nigeria said that the foreign exchange reserves in the country dropped to 29.13 billion dollars on December 29.

On its website, the bank said that the drop in reserves represented 2.43 percent from $29.31 billion which was recorded on December 23.

Adam Siegel Former- RBS Bond Trader Pleads Guilty

Adam Siegel Former- RBS Bond Trader Pleads GuiltyOn Monday, Adam Siegel a thirty seven year old bond trader pleaded guilty of conspiring to deceive the customers Royal Bank of Scotland Group Plc by misrepresenting the prices of bond transactions which he and some others handled for them. This was an effort to spike up the profits for the bank.

Bank of England’s Stress Test might Require Some Banks to Curb Dividend Payouts

Bank of England’s Stress Test might Require Some Banks to Curb Dividend Payouts

This week, some of the big banks in Britain might be forced to shrink their plans for dividend payouts after the Bank of England releases its results of ‘stress tests.’

South African Reserve Bank Revised GDP Forecast

South African Reserve Bank Revised GDP ForecastThe GDP forecast for South African economy was revised down for 2015 and 2016; however it remained unaltered for 2017. Property market is also expected to be indecisive as the industry warns of an unsteady housing market.

Syndicate content