Archives
Islamic finance body AAOIFI to discuss global accounting standards
November 18th, 2014
The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is engaging its counterpart in conventional finance to discuss the convergence of corporate accounting standards. The move is a shift in approach by AAOIFI, which has traditionally developed accounting standards ...
Warning: Stocks Will Collapse by 50%
November 18th, 2014
It is only a matter of time before the stock market plunges by 50% or more, according to several reputable experts. “We have no right to be surprised by a severe and imminent stock market crash,” explains Mark Spitznagel, ...
Draghi Says ECB Measures Could Include Buying Government Bonds
November 18th, 2014
Mario Draghi has explicitly cited government-bond buying as a policy tool officials could use to stimulate the economy should the outlook worsen. “Unconventional measures might entail the purchase of a variety of assets, one of which is sovereign bonds,” the ...
Gold Holds Decline From Two-Week High as Dollar Gains, Oil Drops
November 18th, 2014
Gold held a retreat from the highest level in two weeks after the dollar strengthened and energy prices dropped, curbing demand for the metal as an investment. Silver and palladium declined. Bullion for immediate delivery traded at $1,186.35 an ...
IOSCO Consults on Post-Trade Transparency in the Credit Default Swaps Marke
November 17th, 2014
The International Organization of Securities Commissions today published the consultation report Post-Trade Transparency in the Credit Default Swaps Market, which seeks to analyze the potential impact of mandatory post-trade transparency in the credit default swaps (CDS) market. The report’s analysis ...
Moody’s: Cyprus Government Bond Upgraded to B3
November 17th, 2014
Moody’s Investors Service has upgraded Cyprus’ government bond rating to B3 from its previous rating of Caa3. The rating agency has also changed the outlook on the government bond rating to stable from positive and affirmed Cyprus’ Not-Prime (NP) ...
Pound Falls a Fourth Day as Carney Signals Disinflation Risks
November 17th, 2014
The pound fell for a fourth day against the dollar, approaching a 14-month low, as Bank of England Governor Mark Carney and Chief Economist Andy Haldane signaled they’re concerned that inflation is slowing. U.K. government bonds rose along with Treasuries, pushing 10-year gilt ...
Global markets ‘living on borrowed time’: Wilbur Ross
November 17th, 2014
Global financial markets are living on borrowed time with geopolitical crises and deflationary risks still a concern, private-equity billionaire Wilbur Ross told CNBC. “I think are living on borrowed time because investors have no alternatives,” the chairman and ...
RBS embraces crypto-currencies in hackathon challenge
November 17th, 2014
A team from RBS took top honors at the Deloitte Digital #GoneHacking capital markets hackathon on Friday with a trading platform that utilised the Ripple protocol to handle integration with crypto-currencies. RBS built on top of its existing FXMicropay ...
Russia ready to join G20 tax data exchange plan from 2018
November 17th, 2014
Russia will be ready to join the G20 automatic tax information exchange program from 2018, Finance Minister Anton Siluanov told reporters Monday after a G20 summit. “Now we have already prepared an order on automatic tax information exchange. Countries ...
