Bloomberg ABN Amro Bank NV agreed to pay 480 million euros ($574 million) to end a Dutch investigation that found “serious shortcomings” in the lender’s processes to combat money laundering. The amount will be booked in the first quarter and the lender expects a “modest” loss as a result, according to a statement on Monday. As part of the settlement, ...

Bloomberg Rising defaults have prompted India to tighten oversight of corporate bond sales, causing issuance to slump in a blow to a long-sought goal of expanding the market. Offerings of rupee notes have fallen to 43.8 billion rupees ($584 million) this month, the slowest start to a financial year since 2008. That’s due in part to rules that took effect ...

Bloomberg Britain’s Treasury and the Bank of England are weighing the potential creation of a central bank digital currency, joining authorities from China to Sweden exploring the next big step in the future of money. The government and central bank on Monday announced the creation of a task force to coordinate on the possibility of BOE-issued digital money for use ...

Bloomberg Investors managing $11 trillion have called on the world’s biggest banks to phase out financing of fossil-fuel companies and throw their weight behind the goals of the Paris climate agreement. Asset managers, including Federated Hermes Inc.’s EOS division and Pacific Investment Management Co., have asked 27 banks to commit to eliminating emissions across their operations by 2050, including those ...

Bloomberg Angola began selling state-run lender Banco de Comercio e Industria to test investor appetite for some of the country’s biggest companies including oil giant Sonangol, said Economic Coordination Minister Manuel Nunes Junior. The sale of the nation’s 13th-largest bank by assets is part of a push by Africa’s second-biggest oil producer to raise cash and jump-start a moribund economy. ...

Bloomberg European stocks were steady while US equity futures drifted lower on Monday as investors looked for fresh catalysts to push global shares beyond record highs. The dollar slid. The Stoxx Europe 600 Index advanced to a fresh record following a seventh straight week of gains. Nasdaq 100 futures got a boost from easing Treasury yields, while S&P 500 contracts ...

Bloomberg A drop in cryptocurrency-linked stocks in the wake of Bitcoin’s slide and Coinbase Global Inc’s choppy debut is stirring a rallying cry from optimists who reject fears that the sector has peaked. A global, Bloomberg-curated basket of equities linked to crypto trading or Bitcoin mining fall some 9% over the past week, paring 2021’s climb to about 130%. A ...

Abu Dhabi / WAM The Federal National Council (FNC) Parliamentary Division presented the country’s counter-terrorism and extremism initiatives and efforts at the virtual International Parliamentary Conference on the Global Challenges and Threats in the Context of the Covid-19 Pandemic: Terrorism and Violent Extremism, organised by the Parliamentary Assembly of the Mediterranean (PAM). During the event, Dherar Humaid Al Falasi, Vice ...

Sharjah / WAM The operating profits of Sharjah Islamic Bank (SIB) increased before provisions amounting to AED 212.2 million in Q1 2021, compared to AED 167.2 million for the same period last year, with an increase of 26.9 percent. According to the bank’s financial statement, net profit for the three months ended March 31, 2021 amounted to AED164.2 million, compared ...

AJMAN / WAM The Ajman Department of Economic Development (Ajman DED) signed a cooperation agreement with noon.com, the region’s homegrown digital marketplace, to support the growth and success of small and medium-sized companies and entrepreneurs in the emirate, including the members of the Small and Medium Enterprises Programme “Tazeez”, the members of the “Riyada” programme for practicing economic activities at ...