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Major banks moved vast sums of illicit money – investigation

Massive sums of allegedly dirty money have flowed for years through some of the world’s largest banking institutions, said an international journalism investigation published Sunday, which denounced shortcomings in sector regulations.
China’s commercial banks saw a net forex settlement surplus of 553.1 billion yuan (about $78.6 billion) in the first half of this year, the country’s forex regulator said on Friday.

China’s central bank injects liquidity into market

China’s central bank on Thursday continued to pump cash into the banking system via reverse repos, to maintain liquidity.

POS, Mobile transactions volume hits four-year high in Nigeria

According to the Principal Lead MasterCard Advisors for Sub-Saharan Africa, Bola Asiru, “POS transaction volume along with mobile transactions (Interscheme) value, reached four years high with N416 billion and N275 billion transactions in July respectively.
Malaysian prosecutors on Friday withdrew criminal charges against three Goldman Sachs units accused of misleading investors over $6.5 billion in bond sales they helped organize for a state fund, the Bernama state news agency reported.

1MDB scandal: Malaysia withdraws charges against Goldman Sachs

Malaysian prosecutors on Friday withdrew criminal charges against three Goldman Sachs units accused of misleading investors over $6.5 billion in bond sales they helped organize for a state fund, the Bernama state news agency reported.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices hold near multi-week lows on demand worries

Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 pandemic was lagging.
The regional branch of West Africa’s BCEAO central bank has reopened in Mali for the first time since a military coup last week, Hamadoun Ba, the president of Mali’s banking lobby, told Reuters on Monday.

West Africa’s BCEAO central bank reopens in Mali for first time since coup

The regional branch of West Africa’s BCEAO central bank has reopened in Mali for the first time since a military coup last week, Hamadoun Ba, the president of Mali’s banking lobby, told Reuters on Monday.
(FILES) In this file photo taken on July 23, 2020 a man transports packages on a motorcycle in Bangkok. – Thailand’s growth contracted by 12.2 percent in the second quarter of the year due to the coronavirus pandemic, the steepest drop for the tourism-driven economy since the 1998 Asian Financial Crisis. (Photo by Mladen ANTONOV / AFP)

Thailand’s economy shrinks most in more than 20 years

Thailand’s economy suffered its worst contraction since the Asian financial crisis more than two decades ago, data showed Monday, as the coronavirus shattered the country’s crucial tourism industry.

Dollar slips as yields dive on recovery worries

This is as the latest coronavirus relief package stalled in Congress and U.S. yields sank on the prospect that further monetary easing might be needed to support the economy.
The finance minister of Germany’s Hesse state, Thomas Schaefer, has committed suicide over worries on the economic crisis arising from the Covid-19 outbreak, the Strait Times has reported

German minister commits suicide over coronavirus financial worries

The finance minister of Germany’s Hesse state, Thomas Schaefer, has committed suicide over worries on the economic crisis arising from the Covid-19 outbreak, the Strait Times has reported
The Minister of Agriculture and Rural Development, (FMARD), Sabo Nanono, says the Federal Government is committed to ensuring the take-off of University of Agriculture, Zuru, Kebbi, in 2020.

Federal government to obtain $1 billion loan to boost mechanised farming

The Minister of Agriculture and Rural Development, Sabo Nanono, says the federal government will obtain $1 billion from foreign banks to purchase farming equipment for local farmers in the country.
Donald Trump

US court orders Deutsche Bank surrender Donald Trump’s accounts

A US Federal Appeal court ordered Deutsche Bank and Capital One to comply with a US House subpoena seeking a broad range of financial documents related to President Trump and his businesses.

HSBC set to axe 10,000 jobs

The planned downsizing comes just weeks after announcing the resignation of its chief executive and the cutting of 4,000 posts citing a weak global outlook.

Erastus Akingbola’s money laundering trial resumes June 13

A Federal High Court in Lagos on Tuesday adjourned until June 13, the money laundering trial of a Managing Director of the defunct Intercontinental Bank Plc., Erastus Akingbola.
US President Donald Trump, along with his family and businesses, on Monday sued Deutsche Bank and Capital One in an attempt to stop them from complying with Congressional subpoenas issued as part of a probe into foreign political influence.

Donald Trump sues Deutsche Bank to block US Congress prying into his accounts

US President Donald Trump, along with his family and businesses, on Monday sued Deutsche Bank and Capital One in an attempt to stop them from complying with Congressional subpoenas issued as part of a probe into foreign political influence.
A general view shows the Hotel Eden, which belongs to luxury hotel operator Dorchester Collection, owned by the Brunei Investment Agency (BIA), on April 1, 2019 in Rome. – US actor George Clooney, and a growing list of politicians and celebrities including singer Elton John, has called for a boycott of nine Brunei-owned hotels over the sultanate’s new death-penalty laws for gay sex and adultery. The nine hotels mentioned by Clooney are located in Britain, France, Italy and the United States, including Rome’s Hotel Eden. (Photo by Andreas SOLARO / AFP)

Protesters target London’s Dorchester Hotel over Brunei anti-gay laws

Dozens of anti-discrimination demonstrators massed on Saturday outside the Brunei-owned luxury Dorchester Hotel in London over the southeast Asian country’s adoption of harsh new sharia laws, including death for gay sex.

Germany’s two top banks launch merger talks

Germany’s two biggest lenders, the ailing Deutsche Bank and Commerzbank, said Sunday they would launch formal talks toward a possible merger that could create a “national champion” in financial services.

EFCC re-arraigns ex-Intercontinental Bank chief for alleged money laundering

The Economic and Financial Crimes Commission (EFCC) on Wednesday re-arraigned a former Managing Director of the defunct Intercontinental Bank PLC, Erastus Akingbola, in a Federal High Court in Lagos, for alleged Money Laundering charges.
Canadian 100 Dollar Bill

Euro, Canadian dollar fall before central bank meeting

The euro fell towards a one-week low on Tuesday as the dollar gained broadly and investors began pricing in more caution from the European Central Bank at its meeting on Thursday.

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Paul Pogba has hinted he expects to stay with Manchester United and play in the Champions League next season.

Ole Gunnar Solskjaer admits to Paul Pogba error

Manchester United boss Ole Gunnar Solskjaer has surprisingly hinted that he mismanaged Paul Pogba, particularly at the start of this season.
Juventus are in talks to renew Paulo Dybala's contract, but managing director Fabio Paratici revealed the club's coronavirus scare made negotiations difficult.

Juventus in talks with Dybala over contract renewal – director

Juventus are in talks to renew Paulo Dybala's contract, but managing director Fabio Paratici revealed the club's coronavirus scare made negotiations difficult.
The United Nations, UN, has said the vandals that attacked its assets in Calabar, Cross River State, were out to discredit peaceful protests against police brutality.

UN: Vandals seek to discredit peaceful #EndSARS protests

The United Nations, UN, has said the vandals that attacked its assets in Calabar, Cross River State, were out to discredit peaceful protests against police brutality.
Hoodlums on Sunday attacked the head office of Complete Sports newspapers in Okota, Lagos.

Hoodlums attack Complete Sports head office

Hoodlums on Sunday attacked the head office of Complete Sports newspapers in Okota, Lagos.
Akwa Ibom State Governor Udom Emmanuel says it is unsafe to reopen schools in the state in view of the COVID-19 pandemic.

Akwa Ibom governor imposes dusk-to-dawn curfew

Akwa Ibom State Governor, Udom Emmanuel, has announced an indefinite dusk-to-dawn curfew from 8 pm to 7 am in the state effective from Sunday, October 25, 2020.