Fernandina Beach is undecided on which bank should receive $45 million in city funds
City Commission Rejects Banking Proposals The Fernandina Beach City Commission decided on Tuesday not to move forward with any proposals for managed banking services. The decision comes as they struggled to select a financial institution to manage about $45 million in city funds, with the existing contract set to expire in May. After a lengthy […]
Pound Sterling rebounds, regaining some losses tied to the Bank of England.
The British pound (GBP) bounced back against major currencies on Friday after a notable decline the day prior, prompted by the Bank of England’s (BoE) indication of potential interest rate cuts in the near future. During Thursday’s monetary policy announcement, the central bank decided to keep interest rates steady at 3.75% with a split vote […]
Credit Bank of Moscow Reports Unusual Loss Due to Increase in Bad Loans
Moscow Credit Bank Posts First Loss Among Russia’s Top 10 Banks A bank closely linked to Rosneft, a major player in the oil industry, has made headlines as the first in Russia’s top 10 banks by assets to report a net loss, highlighting escalating issues within the banking sector. Moscow Credit Bank (MKB), noted as […]
No interest, no fees: Krishi Bank introduces Shariah-compliant fixed deposit
Initiatives have been launched to attract interest-free and low-interest deposits while strengthening banks’ deposit bases. February 5, 2026, 8:15am Last updated: February 5, 2026, 11:52 AM Bangladesh Krishi Bank (BKB) has introduced a Shariah-compliant fixed deposit scheme for those who prefer not to earn interest on their savings. This announcement was made in a circular […]
Dollar strengthens ahead of upcoming central bank decisions
Dollar Holds Steady in Asian Trade Before Key Interest Rate Decisions The dollar remained stable at the start of Asian trading on Thursday, as markets awaited interest rate decisions from both the European Central Bank and the Bank of England. It’s expected that neither institution will change rates today. The US Dollar Index, which gauges […]
Emails from Epstein regarding Kathryn Ruemmler trigger controversy within the bank.
Insiders at Goldman Sachs are reportedly expressing concerns about the support the bank is showing for Kathryn Ruemmler, its chief legal officer. This worry has been heightened by the emergence of new emails that highlight her close relationship with Jeffrey Epstein, the late financier and convicted sex offender. Despite these revelations, CEO David Solomon continues […]
Mediobanca’s leading private bankers move to Deutsche Bank
At least a dozen top private bankers from Mediobanca have made the switch to Deutsche Bank, taking advantage of the turmoil at the Bank of Milan to expand their private banking services. This wave of departures follows Mediobanca’s acquisition by Monte dei Paschi di Siena, a smaller rival, last year, and comes shortly after the […]
Ajay Banga, the chief of the World Bank with Indian roots, is visiting Pakistan, and this visit has personal significance.
World Bank President Visits Ancestral Homeland in Pakistan Ajay Banga, the President of the World Bank, whose roots are in India, traveled to his ancestral home in Pakistan’s Punjab province on Tuesday. Born in 1959 in Maharashtra, Banga’s family hails from this region that was part of undivided India before the partition in 1947. His […]
Central bank of Australia changes direction with interest rate hike
Australia’s central bank, notable for being one of the first major economies to tighten monetary policy in response to inflation, has increased interest rates for the first time since 2023. The Reserve Bank of Australia decided on Tuesday to raise rates by 25 basis points to 3.85%, reversing a cut made just six months prior. […]
Metropolitan Capital Bank in Chicago is the first U.S. bank to fail in 2026.
Chicago Experiences Back-to-Back Bank Failures Chicago has made headlines as the first city in the country to face two bank failures in consecutive years. On Friday, the Illinois Department of Financial and Professional Regulation shut down Metropolitan Capital Bank & Trust. Officials cited “unsafe and unsound conditions and a compromised capital base” as the reasons […]