BANKING

November 18, 2018

Bank of Kigali to go into life insurance business

The Bank of Kigali is expected to inject $22.6 million new capital into its subsidiaries as it seeks alternative revenue streams to boost falling shareholders returns.

The bank’s 2017 full-year report to"...

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November 18, 2018

Rimini Street Expands Investment and Operations in Asia-Pacific

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced that it has expanded its operations in the Asia-Pacific region with the launch of its new subsidiary, Rimini Street New Zealand Limited, and the opening of its new office in Auckland to address the growing demand for Rimini Street’s premium, ultra-responsive support services in New Zealand. Rimini Street’s expansion was announced at a gala event held at The Northern Club in Auckland, where clients, local IT leaders and the special guest......

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November 18, 2018

Automotive Innovator, Rick Tewell, Promoted to Chief Operating Officer at Velodyne Lidar

Velodyne Lidar, Inc. announces the promotion of Rick Tewell to Chief Operating Officer. Tewell assumes leadership of the company’s vast manufacturing efforts at its Megafactory in San Jose, California. He joined the company in September 2017 as Senior Vice President of Automated Manufacturing and was promoted to Chief Advanced Manufacturing Officer prior to the promotion to COO. He brings a wealth of expertise to the day-to-day production of Velodyne’s industry-leading lidar sensor product line. According to Marta Hall, Velodyne’s President and Chief Business Development Officer, Velodyne “recruited Rick Tewell to manage......

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November 17, 2018

Head of parallel central bank denies intention to print new currency

The Governor of the parallel Central Bank of Libya in Al-Bayda in east Libya, Ali Al-Habri, has denied the bank's intention to print any new banknotes in Russia. 'Cash is available in commercial banks at increasing rates after the implementation of the recent monetary procedures, which makes no central bank in the world to resort to printing more currency,' Al-Habri said in a press statement Wednesday. Al-Habri's response came after reports in foreign media outlets about the intention of the Al-Bayda-based Central Bank......

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November 16, 2018

MultiBank Group Expands Across Europe Making It One of the Largest Financial Derivatives Companies Worldwide

In December 2017, MultiBank Group announced the launch of its Asset Management business and the establishment of its European headquarter in Frankfurt, Germany. Since then, the Group’s asset management business has taken off, while the performance of the MultiBank Index linked Note,"...

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November 15, 2018

Discovery Bank to give black clients 10% equity

JOHANNESBURG – Discovery will give black depositors 10 percent equity of its tech-led bank, the financial service’s group chief executive Adrian Gore said yesterday.

Speaking at the company’s"...

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November 15, 2018

A-Nex Launches Initial Coin Offering (ICO) Showcasing Unhackable Cryptocurrency Technology for Internet Security

• Cyber Advanced Technology, the technology provider for A-Nex, has developed an innovative crypto-trade platform that plans to take the crypto-industry to a new level of security and profitability.

• A-Nex will be powered by the Operational Technology-Operation Centric"...

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November 14, 2018

Banks in Tripoli raise withdrawal limits to LYD 5,000 for first time in years

Several banks in Tripoli have raised the withdrawal limits to LYD 5 thousand for the first time in years. The withdrawal limit varied between one bank to another, where customers of Jumhouria Bank and the National Commercial Bank were able to withdraw the amount referred to, while other banks set the limit between LYD 2000 to 1500. Libyan banks have been experiencing a cash crisis since 2014. The crisis has deepened in mid-2016 after the parallel bank in eastern Libya started printing currency in Russia. libyaobserver ...

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November 14, 2018

Northern Trust Named Best Private Bank for Family Offices

(AETOS Wire) -- Northern Trust’s Global Family & Private Investment Offices (GFO) group has been named Best Private Bank for Family Offices Globally by Professional Wealth Management and The Banker magazines, publications of the Financial"...

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November 13, 2018

EBRD report warns government transparency not improving

London: A report from the European Bank for Reconstruction and Development on Tuesday warned that perceived transparency in government policymaking in its 38 economy bloc had not improved since the start of the decade.

The"...

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