People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme
People’s Bank recently launched the Peoples’ Spark Entrepreneurship Development Program along with a dedicated loan scheme to provide a pathway for educated, skillful young entrepreneurs to turn their business ideas into reality. The inauguration ceremony of this unique program was held recently at the Staff Training College and was graced by the presence of Chief […]
People’s Bank and CA Sri Lanka to offer SME Mentoring Program
People’s Bank has partnered with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to provide a timely boost for Small and Medium-sized Enterprises (SMEs) customers of the bank through a mentoring programme. A Memorandum of Understanding (MOU) signifying the partnership was exchanged by People’s Bank Chairman Sujeewa Rajapakse and CA Sri Lanka […]
UK banks to be more accommodating toward borrowers, FCA on duty
Lenders in Britain received a stream of letters (3,500) as the country’s Financial Conduct Authority (FCA) reached out to thousands of lenders to command a more sizable amount of support toward borrowers who are in a state of financial instability. The expenses for their livelihood have surged, and following this was the poor response from […]
BOJ still reeling from yen complications, looming inflation at the door
Hirokazu Matsuno, the Chief Cabinet Secretary, has commented that Japan has its eyes set on the central bank to take necessary measures in appropriation to the yen’s fallout and the surging cost of living. The currency’s unanticipated decline to a 24-year low has to be countered carefully. Thankfully, Tokyo’s willingness to set back standards in […]
BofA’s new tool VAM to aid in the growth of corporate cash management
On Tuesday, sources reported that the clientele based in America is said to receive a new cash management tool to help earn prize share from the massive $300 billion monetary management business for the world-class corporations stationed overseas. This tool is an initiative taken by the BofA—Bank of America (BAC.N). The bank is fairly influential, […]
Deutsche Bank set to face suit over Epstein & Russian oligarch ties
Deutsche Bank AG (DBKGn.DE) is under fire for its recent blunder, where it reportedly had swept shortcomings under the rug while signing deals behind closed doors with notorious, perilous billionaires like Jeffrey Epstein, and similarly politically sensitive Russian oligarchs. The case is Karimi v. Deutsche Bank Aktiengesellschaft et al, at the U.S District Court—Southern District […]
Blockbuster 2021 reels in Global investment banking for the recovery year
The pandemic was devastating to major economies, there is no mistaking that. Markets saw it strike first-hand as the stock prices plummeted devastatingly low and the revenue at global investment banks was more slow than gradual, all routes clogged due to the gravity of the situation. Apart from that event spanning through countless economic shattering, […]
Shares of European banks plummet after Credit Suisse spikes a financial loss caution
Investors in Europe fear drought and regret as Credit Suisse alerts to a dreadful 6% slide, ensuing later is a warning issued on unstable financial assets dropping on the lenders. Interestingly, the European Central Bank has called for a meeting on Thursday to aid the investors in their wager, with the U.S Federal Reserve scheduled […]
JP Morgan shareholders vote disapproval of CEO Dimon’s special payout
In an unusual rebuke for Jamie Dimon, CEO of JPMorgan Chase & Co, shareholders clearly disapproved of the special $52.6 million stock option award directors gave him last year to stay on the job for at least five more years. In an advisory say-on-pay referendum, only 31% of votes cast endorsed JPMorgan executive payments for […]
Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules
Lawmakers blocked a bid to overhaul strict Swiss banking secrecy rules in a blow to freedom of information advocates seeking an exemption for journalists and whistleblowers. Switzerland has been under fire over its press freedom rules after a law introduced in 2015 led a leading media group, Tamedia, to bow out from an international investigation […]