MANILA / AP The Asian Development Bank signed an agreement with the Swedish International Development Cooperation Agency (SIDA) on a risk-transfer scheme under which SIDA will guarantee $155 million out of ADB’s $455 million basket of five loans to India — a first for a sovereign loan portfolio for any multilateral development bank, the ADB announced on Monday. The ...

  BRUSSELS / AP Dutch banking group ING said on Monday that it is slashing 7,000 jobs in Belgium and the Netherlands as the company focuses on online services in the face of growing competition. ING said in a statement that some 3,500 full-time jobs would disappear in Belgium by 2021 and 2,300 in the Netherlands. Almost 1,000 jobs would ...

  Dubai / Emirates Business UAE banks are rapidly adopting global best practices in securing online bank accounts and digital payments, industry experts commented today on a new report. Automation of security is the most frequently deployed digital transformation initiative among banks in Europe, the Middle East, and Africa, according to the recent IDC report, “The Digital Ready Bank”. When ...