Luxembourg / AFP The European Court of Justice ruled on Wednesday that Spanish banks must reimburse clients who had signed mortgage contracts that unfairly prevented them from benefiting from a steady drop in interest rates. The decision by the Luxembourg-based court caused shares in Spanish lenders to fall with small lender Liberbank leading losses, down over ten percent in …

  Bloomberg Turkey’s central bank unexpectedly kept all of its three main interest rates unchanged, and said a “cautious monetary policy” would be maintained as it assesses the impact of a weaker lira on inflation. The lira reversed gains. The bank kept one-week repurchase, overnight lending and borrowing rates unchanged at 8 percent, 8.5 percent and 7.25 percent respectively, it …

  Dubai / Emirates Business For the third consecutive year, Global Investor, the leading international publication specialising in asset management, named Barclays the ‘Wealth Manager of the Year’ in the Middle East. The award, which was announced during the 2016 Global Investor/ISF MENA Awards ceremony in Dubai, reflects Barclays’ long-standing position as a leader in the Wealth and Investment Management …