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India cuts interest rate to lowest since 2011, but raises reverse repo ECONOMY

India cuts interest rate to lowest since 2011, but raises reverse repo

The Reserve Bank of India cut its policy interest rate by a quarter percentage point on Tuesday, reducing it to a more than five-year low while dangling the prospect of another cut later this year if inflation trends stay benign.

4:45 AM November 25 2016
Bangladesh central bank governor quits over $81m heist INTERNATIONAL

Bangladesh central bank governor quits over $81m heist

Bangladesh's central bank chief resigned on Tuesday, the finance minister said, after hackers stole $81 million from the nation's foreign reserves in an audacious cyber-heist that has hugely embarrassed the government.

4:45 AM November 25 2016
Bangladesh 'to sue US reserve bank' over missing $100 mn INTERNATIONAL

Bangladesh 'to sue US reserve bank' over missing $100 mn

Bangladesh's government said Tuesday it was planning to sue the Federal Reserve Bank of New York after hackers allegedly stole nearly $100 million from a reserve account.

4:45 AM November 25 2016
Ex-staff of bank get 10-year jail for stealing cash ARABIA

Ex-staff of bank get 10-year jail for stealing cash

Two GCC men, former employees of a local bank, have been sentenced to 10 years in jail and a fine of QR10mn to be paid jointly for stealing QR10mn from the bank.

4:45 AM November 25 2016
AIIB will boost investment in region: Xi Jinping ECONOMY

AIIB will boost investment in region: Xi Jinping

The new Asian Infrastructure Investment Bank will boost investment in the region while contributing to ‘fairer’ global economic governance, Chinese President Xi Jinping said ...

4:45 AM November 25 2016