World Economy

Financial analysts grew more pessimistic about Germany's economic outlook in May, a sign that the strong economic performance at the start of the year may not continue.

The Dubai-based investment bank Shuaa Capital is looking to cut 15% of its workforce, sources told Reuters. The investment bank is looking at a possible sale of a 48% stake in the…

Lebanon lifted banking secrecy on 28 bank accounts in 2015 as part of efforts to combat money laundering, terrorism funding, fraud and financial embezzlement, Albawaba reported. “Money…

The Monetary Authority of Singapore announced on Tuesday it has ordered the closure of Switzerland’s BSI Bank in Singapore, Channel NewsAsia reported.

Venezuelan state oil company PDVSA is preparing to issue $2.5 billion in promissory notes to settle unpaid bills to services companies, according to industry sources and documents seen by Reuters…

Canada’s economy is on the ropes again, believed to be contracting in this second quarter of the year, though observers predict a fast, sharp rebound.

Leaders from the Group of Seven advanced economies will examine potential risks to the global economy when they gather this week (Thursday and Friday) for their summit in western Japan, government…

Having bitten the bullet on bad loans, India’s state-owned banks now need to merge into half a dozen well-capitalized institutions than can underwrite economic growth, the official overseeing the…

Hong Kong’s retail slump is being mirrored in its longtime rival for the title of Asia’s shoppers’ paradise, and for similar reasons.

Empty storefronts in Singapore’s prime shopping…

Global banks have started exploring distributed-ledger technology as part of risk-control efforts in the trade finance business. Standard Chartered has teamed up with DBS Group to develop an…

Deutsche Bank AG had its credit rating cut by Moody’s Investors Service, which said the German lender faces mounting challenges in carrying out its turnaround.

The bank’s senior unsecured…

While the market’s attention has been fixated on China’s bad loans and economic growth prospects, the nation’s central bank has quietly altered the monetary policy tools that control the cost of…

The SWIFT secure messaging service that underpins international banking said it plans to launch a new security program as it fights to rebuild its reputation in the wake of the Bangladesh Bank…

US interest rates being kept too low for too long could cause financial instability in future and stronger market expectations for a rate rise are “probably good,” St. Louis Federal Reserve…

Consumer demand and investment activity, Russia’s key economic drivers, deteriorated further in April but at a slower pace, data showed Monday.

Mobile phone giant Nokia is to cut more than 1,000 jobs in Finland, the company announced, as part of cost-cutting measures following its merger with Alcatel-Lucent, AFP reported.

Budget carrier Ryanair has booked record bottom-line earnings for its fiscal year ended March 2016, DW reported. Its outlook is still optimistic, but lower ticket prices are likely to see the…

Global banks are privately pressing the SWIFT interbank network to beef up security of its 11,000 members following a series of cyber attacks, including the multi-million-dollar hack in Bangladesh…

Stocks, oil and yields on government bonds all fell on Monday, reversing some of their recent gains as investors began the week in a cautious mood, still grappling with the possibility that US…

China needs to beef up its investment in infrastructure to fuel domestic demand and cut excess industrial capacity amid the ongoing restructuring, said Yu Yongding, a former central bank adviser…

Saudi Arabia faces a vicious liquidity squeeze as capital continues to leak out the country, with a sharp contraction of the money supply and mounting stress in the banking system.

The European Central Bank’s monetary stimulus has had a mainly positive impact on eurozone banks, but has its own risks, ECB governing council member Francois Villeroy de Galhau said on…

Japan’s economy appears to be weakening as exports fell 10% and imports plunged 23% in April while a monthly survey of factory managers showed the sharpest deterioration in operating conditions in…

More than four in ten financial services firms in Britain say their confidence has been knocked in the face of the cooling global economy, Brexit concerns and the slump in oil prices.

Just…

A study conducted by Bain & Company showed that private equity activities in Southeast Asia posted their worst ever performance since 2004, due to high competition, macro uncertainty and rich…