FIVE of the world’s largest banks, including HSBC and Royal Bank of Scotland, have been fined more than £2 billion by US, UK and Swiss regulators after admitting some of their traders had attempted to manipulate the $5.3 trillion-a-day foreign exchange market.
GHANA’S government will from January next year declare war on high interest rates being charged by all the commercial banks and other financial institutions in the country.
MONEYGRAM, a global money transfer and payment services company, is investing in business growth in East Africa as well as in the health of communities it serves.
THE United Bank for Africa (UBA) Board Chairman, Tony O Elumelu, has announced the donation of $1million, to assist the fight against Ebola, currently present in three West African countries, where UBA does business: Sierra Leone, Liberia and Guinea.
GHANA’S Agricultural Development Bank Ltd (ADB) has formally presented two fully-furnished three-bedroom houses to Lemuel Martey, the 2012 National Best Farmer and Alhaji Karim Awudu, 2013 National Best Farmers.
INVESTORS are calling on Standard Chartered to come clean on its need to raise billions of pounds in capital amid a warning that Peter Sands, the bank’s chief executive, has only months to turn the business around.
MOODY’S Investors Service has today downgraded to Baa2 from Baa1 the foreign-currency long-term issuer ratings of two South African development finance institutions, Development Bank of Southern Africa (DBSA), and Industrial Development Corporation of South Africa (IDC).
GHANA’S Agricultural Development Bank (ADB) has trained owners of Small and Medium-Sized Enterprises (SMEs) at a capacity building workshop aimed at boosting the financial literacy and efficiency.
A full-blown inquiry into the dominance of Britain’s biggest banks in personal current accounts and small business lending has been launched by the sector’s UK regulatory watchdog as it seeks to boost competition on the high street.
CYBERCRIMINALS are stealing twice as much money from bank accounts as the banks actually report, MPs were told yesterday, as Britain’s elite crime-fighting agency admitted that financial fraud statistics were as good as useless.
