U.K. banks are giving new meaning to the term “Brexit”: They’ve been pulling money out of the rest of the world at a pace not seen since the global financial crisis. The latest data from the Bank for International Settlements suggest that financial institutions have been beating a retreat just about everywhere. In 25 countries whose banks report …

  Last week, international capital markets enthusiastically granted redemption to Argentina, a serial defaulter on money it has borrowed from external creditors. The scale of this reaction is counter-intuitive and could provide the wrong incentive underpinnings for financial relationships that involve an important element of trust. Yet this kind of forgiveness has occurred regularly — for good and bad reasons …

  Abu Dhabi / EMIRATES BUSINESS Manazel Real Estate, a leading UAE developer, hosted its Annual General Meeting (AGM) to review the company’s financial performance for 2015 and provide an outlook for the year ahead. Manazel delivered strong growth in earnings with a 29 percent growth in net profit to AED195 million (it was AED152 million in 2014) driven by …