BLOOMBERG India’s rupee will not drop past the 84-per dollar mark even if the greenback strengthens further from current levels as the nation’s central bank will step in to defend the currency, according to Standard Chartered (StanChart). “The Reserve Bank of India has been protecting rupee from depreciating very sharply,” Parul Mittal Sinha, head of India financial markets at the …

BLOOMBERG Royal Bank of Canada (RBC) is cleaning up City National Bank’s balance sheet after the US lender posted a money-losing quarter amid higher rates and the crisis of confidence at regional banks. RBC made a capital injection into City National and bought debt securities from it, boosting the Los Angeles-based division’s liquidity and capital and allowing it to pay …

ABU DHABI/ WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, said that Fifty years ago, Al Jundi magazine was launched to provide content that contributes to the intellectual development of the Emirati people and serves the nation’s development journey, with a particular focus on military and security …