BLOOMBERG Bank of England (BOE) Deputy Governor Jon Cunliffe said regulators may need to impose a limit on using so-called stablecoins for payments as policy makers try to balance the need for innovation with its accompanying concerns. Cunliffe raised the prospect that rapid innovation in payment systems could bring new risks for customers and financial markets as a whole. “While, ...

BLOOMBERG Credit Suisse Group AG saw clients pull $4.4 billion from US and European funds since the lender agreed to be acquired by rival UBS Group AG in March, with recent inflows suggesting the worst of the bleeding may be over. Credit Suisse’s European funds suffered $3.8 billion in net redemptions between March 20 and April 6, while US funds ...

SHARJAH / WAM United Arab Bank (UAB) has reported its financial results for the first quarter ending on March 31, with a net profit of AED 54.8 million, up 80 percent from AED 30.4 million in Q1 2022. The increase in net profit is attributed to improved Net interest income and lower provision charges. The bank’s total operating income grew ...