European Central Bank raises interest rates

Image Source: News Beezer The European Central Bank on Thursday stated that it would raise its benchmark interest rate by a half percentage point in a daring effort to rein in inflation. The ECB raises rates for the first time since 2011 as a result, bringing Europe’s main rate back to zero. Since 2014, rates […]

Governor of the Sri Lanka Central Bank Warns Country May Shut Down

Sri Lanka

Photo: IB Times Central Bank Governor Nandalal Weerasinghe warned that Sri Lanka might fall apart if they don’t form an anchor government soon. There’s “a lot of uncertainty” about whether or not enough foreign exchange can be located to compensate for necessary petroleum, says Weerasinghe in an interview with BBC’s Newsnight program. He added that […]

China to refund customers after widespread bank protests

Image Source: Briefly Authorities in the Henan province of China have announced that they will begin releasing money to consumers whose funds have been frozen by a number of rural banks. The declaration was made the day after a rare demonstration in Zhengzhou, the capital of Henan, descended into violence. According to regional regulators, payments […]

Credit Suisse Bank Found Guilty of Money-laundering 

Image Source: Private Banker International Credit Suisse has been found guilty and punished due to its role in money laundering connected to a narcotics network in Bulgaria. According to Switzerland’s criminal court, the bank did not take sufficient steps to stop members of the crime syndicate from making money off the trafficking of cocaine into […]