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ECB says forex benchmark rates compiled on too narrow basis
Libor

ECB says forex benchmark rates compiled on too narrow basis

The European Central Bank said in a briefing paper on Wednesday that benchmark foreign exchange rates are not necessarily reliable as they are often fixed using just one set of data. The European Union is in the process of approving a law to regulate mark
Published 20 Jun, 2014 12:00am
Forex is weakest link in UK market abuse crackdown
Libor

Forex is weakest link in UK market abuse crackdown

George Osborne is taking financial market abuse seriously. The British chancellor wants to criminalise the practice in more asset classes, so manipulators can be sent to jail. He has been spurred to action by accusations of rigging in the $5-trillion-a-da
Published 15 Jun, 2014 12:00am
ADB principal creditor: Punjab debt stands at Rs 451.8 billion
Libor

ADB principal creditor: Punjab debt stands at Rs 451.8 billion

Asian Development Bank (ADB) with 46 percent holding is the principal creditor of Punjab foreign debt followed by the World Bank and government of Japan with 46 percent and 6 percent foreign debt holding, respectively. Punjab's total debt, 6 percent or Rs
Published 14 Jun, 2014 12:00am
European shares near multi-year highs
Libor

European shares near multi-year highs

European equities closed near recent multi-year highs on Thursday, as merger hopes buoyed some telecom stocks but mining shares fell amid global growth concerns. The FTSEurofirst 300 index of top European shares finished flat at 1,392.02 points, just belo
Published 13 Jun, 2014 12:00am
EU warns British broker over alleged interest rate rigging
Libor

EU warns British broker over alleged interest rate rigging

The European Commission said on Tuesday it believes British-based broker ICAP may have helped rig interest rates vital for the global financial markets in a global scandal which has cost billions in fines. The Commission, the European Union's executive ar
Published 11 Jun, 2014 12:00am
EU warns British broker over alleged interest rate rigging
Libor

EU warns British broker over alleged interest rate rigging

The European Commission said on Tuesday it believes British-based broker ICAP may have helped rig interest rates vital for the global financial markets in a global scandal which has cost billions in fines. The Commission, the European Union''s executive a
Published 11 Jun, 2014 12:00am
EU warns British broker over alleged interest rate rigging
Libor

EU warns British broker over alleged interest rate rigging

The European Commission said on Tuesday it believes British-based broker ICAP may have helped rig interest rates vital for the global financial markets in a global scandal which has cost billions in fines. The Commission, the European Union's executive ar
Published 11 Jun, 2014 12:00am
UK anti-fraud agency 'examining data' in currency fixing probe
Libor

UK anti-fraud agency 'examining data' in currency fixing probe

Britain's anti-fraud agency is examining information from a global investigation into the possible manipulation of currency markets, in the first sign it might follow the United States in launching a criminal investigation. Britain is keen to be at the fo
Published 07 Jun, 2014 12:00am