FTSE Reaches Record Highs After Rallying By Mining Shares
UK’s blue-chip index FTSE 100 is soaring to record heights on the back of a strong rally by mining shares, the falling value of the sterling pound after Brexit and optimism about the American economy. The pound is down by
Read MoreUK Can Bring In Around £24 Billion Each Year With A Clean Brexit
The United Kingdom (UK) will benefit to the tune of £24 billion ($29.45 billion) per year in additional GDP if it chooses a clean exit from Europe according to a pro-Brexit group. The Change Britain group is a successor to
Read MoreBrexit Hurts UK Economy And Causes It To Drop Behind France
The United Kingdom has dropped behind France in the latest World Economic League Table (WELT) putting it at sixth place while France is now the world’s fifth largest economy. The WELT is published by economic think tanks CEBR and Global
Read MoreEuro recovers as Monte dei Paschi gets $5 bn funding
The rise in the price of crude oil to about $53.80 per barrel assisted the Canadian dollar to rise against the Euro dollar, which was under selling pressure due to the Fed rate hike. The report of poor financial health
Read MoreUK MPs Want Higher Level Of Cyber Security For Financial Sector
The UK’s parliamentary treasury committee head Andrew Tyrie has recommended that more needs to be done to protect the pivotal financial services industry from dangerous cyber-attacks. Tyrie made the suggestion in a letter to Ciaran Martin, head of the country’s
Read MoreRuble weakens as crude hovers around $50 per barrel
The crude oil production cut agreement reached between OPEC and other oil producing countries assisted the commodity currencies to gain against the Greenback. While most of the commodity currencies gave back the gains soon after the Fed announced the rate
Read MoreBangko Sentral Further Eases Forex Regulations in the Philippines
The central bank of Philippines, the Bangko Sentral ng Pilipinas (BSP) has further eased the foreign exchange rules in a bid encourage the entry of foreign banks into the country. Amendments to the Manual of Rules on Foreign Exchange Transactions
Read MoreIndian Central Bank To Clampdown on Banking Malpractices
The Reserve Bank of India (RBI) is taking a number of steps to counter reports of large-scale money laundering and fraud in currency exchange transactions, pointing to the involvement of banking employees. Among other measures, the RBI has asked banks
Read MorePound to decline on poor manufacturing PMI data
The increasing possibility of a soft-Brexit, higher than expected third-quarter GDP growth of 0.5%, and m-o-m increase in the services PMI propelled the GBP/USD to a high of 1.2740 against the US dollar. Ironically, the British Pound is the only
Read MoreFinancial Institutions Looking To Move To Europe post-Brexit
A senior executive from a French financial regulatory body has said that post Brexit numerous financial centres in Europe have already started handling inquiries from financial firms regarding setting up of operations. With the UK voting to leave the European
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