Bloomberg Commonwealth Bank of Australia (CBA) Chief Executive Officer Ian Narev has been stripped of his short-term bonus as the lender battles to contain the fallout from allegations it breached money-laundering and terrorist-financing laws more than 50,000 times. The board decided to scrap short-term bonuses for Narev and other senior executives after “consideration to risk and reputation matters impacting the …

Bloomberg The Bank of England secretly plugged a multi-million-pound hole in Britain’s finances during World War I, covering up the failure of one country’s apparent patriotic triumphs. In the early days of the war in 1914, the government sought to raise 350 million pounds—about 38 billion pounds today— through the issuance of a War Loans, with 250 million pounds of …

ABU DHABI / Emirates Business Abu Dhabi’s Department of Finance has announced that the ‘Al Maqta’a bidding hall’ processed tenders worth AED as much as 10,260,975,489 from ten different government entities in the Emirate of Abu Dhabi during the first half of 2017. The aim behind Al Maqta’a is to enhance transparency, competitiveness, and open-ness pertaining to tenders issued by …