News
Bankers say no ATMs near casinos in border regions
THAILAND - The Thai Bankers' Association says that no members have automated teller machines or credit card approval terminals near or inside casinos located outside Thai territory along the Laotian and Cambodian borders.
Japan profits on yen interventions
JAPAN - The Japanese government has made a profit of about YEN 6,000bn ($49bn) on its foreign exchange reserves during the last decade, partly due to heavy bouts of intervention, a former Ministry of Finance official has said.
NZ reserve bank governor's credibility questioned
NEW ZEALAND - The Reserve Bank of New Zealand governor's credibility on economic and social matters has been called into question by the deputy prime minister of New Zealand.
OECD recommends more power to banks regulator
CZECH REPUBLIC - The Czech Republic can best minimise risks to its banking sector by creating preconditions for a more effective functioning of the regulator, the Czech National Bank (CNB), says a recently published study by the OECD on the Czech economy.
UAE c bank plans personal credit rating agency
UAE - The Central Bank is understood to be working on a local credit rating agency (credit bureau) to carry out credit ratings on individuals seeking bank loans, according to informed sources.
Credit card use doubles in South Korea
SOUTH KOREA - Apparently boosted by a range of government measures encouraging the use of creditor cards, the daily use of credit cards almost doubled in the first half of this year from a year ago, the Bank of Korea said on 5 August.
Euro notes designer will escape launch controversy
AUSTRIA - When the euro enters circulation in January, the man responsible for the look of a the new notes is planning to take his family on a long holiday - outside Europe.
Bank charges given support by Australian study
AUSTRALIA - A study by Macquarie University claims that banks are justified in charging high service fees.
Uzbekistan eases foreign currency restrictions
UZBEKISTAN - Uzbekistan's Central Bank increased from 31 July the maximum amount of freely convertible currency that can be sold to Uzbek citizens travelling to countries outside the territory of the former Soviet Union to 400 dollars (from 300 dollars),…
E-day countdown - ECB ad campaign to roll 1 Sept
GERMANY - European Central Bank chiefs begin their annual break this week knowing that when they return from their holidays the push to make the euro a reality in the lives of millions of Europeans must begin in earnest.
Philippine Ctrl Bk mulls hiking liquidity reserves
PHILIPPINES - The Philippine Central Bank is considering hiking anew the liquidity reserve requirement of commercial banks to help boost the ailing peso.
Austrians 'underestimate' euro
AUSTRIA - According to a survey published on 3 August, the euro is not an issue for most Austrians. A majority of 62 per cent have not or almost not informed themselves on the new currency, only 13 per cent consider themselves as "very interested" in the…
OFT to become payments systems regulator
UK - Competition watchdog - UK treasury believes new powers will cut £1bn 'excess profits' made by banks.
Hungary's National Bank appoints deputy presidents
HUNGARY - The National Bank of Hungary has appointed Henrik Auth and Peter Adamecz as deputy presidents.
Why the Bank changed its mind
UK - Mervyn King will have some explaining to do when he presents the Bank of England's inflation report next week writes the FT in London, 3 August.
Myanmar introduces measures to stabilise currency
MYANMAR - Deciding to dine out in Myanmar will no longer be a headache of currency proportions for many diners in the country, reports Channel News Asia.
Argentina's Blejer to become central bank VP
ARGENTINA - Mario Blejer, a former International Monetary Fund economist and top aide to Economy Minister Domingo Cavallo, will become vice president of the country's Central Bank, an official at the monetary authority confirmed on 2 August.
Chicago Fed: Recession risks rising
US - The risk that the U.S. economy is in a recession rose in June to its highest level this year, the Federal Reserve Bank of Chicago said on 2 August as it released its monthly index of U.S. economic activity.
Surprise cut in UK interest rates
UK - The Bank of England's Monetary Policy Committee (MPC) has cut interest rates by 0.25%.
Bank of England committee reduces interest rates
UK - Bank of England Reduces Interest Rates by 0.25% to 5.0%
ECB press release - Interest rates unchanged
EUROPE - The European Central Bank has left all its key interest rates unchanged following its governing council meeting this morning.
New deputy governor to South African Reserve Bank
SOUTH AFRICA - The South African Reserve Bank has appointed Dr Xolile Pallo Guma as its new deputy governor.
Hungary aims to introduce euro in 2006
HUNGARY - The government expects that Hungary will introduce the euro as its currency as of 1 January 2006, Zsigmond Jarai, head of the National Bank of Hungary (MNB) said at a business conference on 26 July.
Prizes of Romanian central bank for 2001
ROMANIA - The Romanian Central Bank awarded on 31 July its prizes for the year 2001 to prominent figures in the economic and cultural life, who, through their scientific activity and their exceptional original works, made an important contribution and…