Global Banking Monitor

Saturday, December 2, 2023

Dollar to Weaken Over Next 2 Years, UniCredit Says

UniCredit Research expects “moderate dollar weakness” over...

Bank of Canada Governor Indicates Potential Cease in Interest Rate Increases

Bank of Canada Governor Tiff Macklem recently...

Headline Feature

Apple Pay processes $6 trillion in 2022

For those executives who haven't been watching the continued growth of Apple Pay, the recent metrics published by Capital...

In our newly launched Digital Transformer 2023 section, we are profiling the experts shaping the GCC banking industry this year. Read more.

Latest News

Dollar to Weaken Over Next 2 Years, UniCredit Says

UniCredit Research expects “moderate dollar weakness” over the next two years as the U.S.’s growth outperformance diminishes and interest-rate...

Asian Development Bank Commits $100 Billion Investment for Maximum Climate Impact

Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB) plans to...

Featured Articles

Riding the Digital Wave: Fintech Trends Reshaping Kazakhstan’s Finance...

Explore the fintech trends reshaping Kazakhstan's financial landscape, from the rise of digital payments and open banking to the growth of super-app ecosystems and the democratisation of capital markets.

430,000 Revolut customers were waitlisted for the Ultra plan

Revolut Ultra launched late last month as the neo bank’s new premium subscription tier. Their press release makes for stimulating reading, especially the first bullet point: Over 430,000 Revolut customers in the UK and EEA...

Riksbank’s Thedeen Views 50-50 Probability for Another Rate Hike

Sweden’s Riksbank is as likely to raise its benchmark rate as to keep it unchanged, and could take action if the krona weakens again or if there are other signs that inflation is picking up once more, said Governor Erik Thedeen. The Swedish central bank this week left its benchmark rate unchanged at 4%, marking the first break in a tightening campaign that’s dented consumption and led to a plunge in housing construction in the Scandanavian country. Read More : Riksbank's Thedeen Views 50-50 Probability for Another Rate Hike

Events & Conferences Spotlight

Dubai Fintech Summit 2023

http://www.dubaifintechsummit.com The Dubai FinTech Summit 2023 will set a global benchmark for the way enterprises...

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Global Economy Analysis Indicates Likelihood of Euro-Area Recession

A recession in the euro area is looking increasingly likely as the economic downturn persists in the final quarter of the year, private-sector activity surveys showed. Meantime, the outlook for global trade got a boost this week as South Korea’s exports are likely to maintain...

French Bank Receives Court Adviser’s Backing in Lawsuit Over Dividend Tax Rule

French banks’ efforts to challenge guidance by the country’s tax authorities on dividend arbitrage strategies got the support of an adviser to the top administrative court on Friday. In a hearing at France’s Conseil d’Etat, the court adviser called for the cancellation of two advance...

Japanese Inflation Rises Amid Increasing BOJ Pivot Expectations

Japan’s core consumer price growth picked up slightly in October, after easing the previous month, reinforcing investors’ views that stubborn inflation may push the Bank of Japan (BOJ) to roll back monetary stimulus...

China Initiates Investigations into Troubled Shadow Banking Giant Zhongzhi

Chinese authorities said they recently opened criminal investigations into the money management business of Zhongzhi Enterprise Group Co., days...

Nigeria’s Central Bank Unveils Extensive Plans to Tackle Inflation

Nigeria’s central bank pledged major changes to get a grip on inflation and steady the country’s battered currency, signaling...

Bank of Italy Indicates Decrease in Risks to Financial Stability

Risks to financial stability in Italy remain significant but have decreased thanks to a healthier banking system, the country’s...

Latest Awards from Global Banking Monitor

Sohar International: Best Ecosystem Banking App Award 2023

We have been closely following the recent launch of...

ADIB: Best New Digital Feature 2023

We'd like to congratulate the digital banking team at...

MVCC: Payments Innovation Award 2023

One of our valued contributors recently suggested we take...

Latest Opinion

Data is the new oil… well, ok, not yet.

This is an opinion post by Ewan MacLeod, originally...

Apple Financing: It’s actually happening

This is an opinion post by our Analyst team....

UBS to buy Credit Suisse for $2bn (Maybe) [Updated]

This is an opinion piece by our Analyst Team. Update...

The Banking Run: Can’t we all just relax a bit now?

This is an opinion piece by our Analyst Team. So...

More News

Germany Nearing Recession, Warns Destatis

Germany's economy is on the brink of recession as...

World Bank: South Africa’s Economy Drains R700bn Every Year Due to Crime

The World Bank's latest economic update has shed light...

World Bank Freezes Liberia’s Access to Undrawn Loan Funds

The World Bank has suspended its access to "unwithdrawn...

JPMorgan Warns of Risk in Unsecured Loans to Chinese Developers

Any step by China to allow banks to provide unsecured loans to qualified developers “would be a risky move” for the lenders, according to...

Insights from Bank of America: 5 Key Indicators for an Approaching Recession

So far, the US economy has staved off a recession, but Wall Street remains mixed on its outlook for the year ahead. Bank of...

Canadian Retail Sales Soar with 0.8% Jump, Reflecting Sharp Spending Increase

Canadian consumers splurged in September and October, a surprise resurgence in spending even as high interest rates restrict household budgets. Receipts for retailers rose 0.8%...

Yellen Asserts Significant Headway in U.S. Inflation Reduction Efforts

The US is making “considerable progress” in bringing down inflation, which is especially notable given the labor market remains strong, Treasury Secretary Janet Yellen...

South Africa’s Proposed Stringent Regulations Following Rand-Rigging Probe

South Africa plans to tighten up its regulation of financial markets, after a top bank admitted to taking part in manipulation of the rand. Legislation...

The Impact of Asia’s Economic Revolution on the Global Stage

The phrase “factory Asia” describes one of history’s most impressive economic achievements. Over the past half-century Japan, South Korea, Taiwan and, more recently, China...

HSBC Issues Apology After Digital Banking Glitch Locks Out Thousands of UK Customers

Thousands of HSBC (HSBA.L) customers in Britain on Friday reported they were unable to access some mobile and online banking services, the latest in...

Barclays Eyes 2,000 Job Cuts in $1.25 Billion Cost-Cutting Strategy: Report

Barclays is working on its cost-saving plans of 1 billion pounds ($1.25 billion) which could also involve around 2,000 job cuts, mainly in the...

Euro Zone Bond Investors Unfazed as Data Confirms Dismal Economic Outlook

Euro zone bond yields wavered but found little direction on Thursday after survey data showed the bloc’s economic downturn is likely to have continued...

Beijing Takes Significant Steps to Address Looming Property Crisis in China

China's finally starting to do something about the three-year property crisis that's been weighing on its COVID-scarred economy. Beijing is urging banks to boost financing...

Despite $40 Billion Inflow, Bank of America Highlights Caution in Stock Market

As the holiday and Santa Rally season draws near, one Wall Street bank is telling investors to curb their enthusiasm where stocks are concerned. A...

Bank of Japan Adopts Subtle Shift in Strategic Approach

Efforts have been under way in Japan in recent years to switch the approach to river water control to tackle the growing risk of...

Chinese Shadow Bank Reveals Enormous Debt, Unable to Fulfill Obligations

A major wealth management company in China has told investors it can't pay all its bills, reigniting fears that the country's long-running real estate...

Quarterly Profit of Top 10 UAE Banks Up by 5.6% Due to Reduced Impairment Charges

The aggregate net profit of the UAE's 10 largest banks increased by 5.6 per cent on a quarterly basis in the third quarter, boosted...

Kazakhstan Central Bank Slashes Base Rate to 15.75% in Response to Inflation Trends

Kazakhstan's central bank has announced a reduction in its base rate to 15.75%, a move that aligns with market expectations and comes as a...

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