While stopping short of signaling that the move could come as soon as September, Federal Reserve policy makers took a step toward raising interest rates later this year.   After their two-day meeting, their assessment of the economy in their monetary policy statement was upgraded by the...

In an accord that would be the fund’s biggest aid package in a region pummeled by political unrest and the plunge in oil prices, Egypt plans to secure a $12 billion loan from the International Monetary Fund to ease a crippling dollar squeeze and restore confidence in the economy.   An IMF...

With the aim of doubling the country’s capacity to produce petrochemicals over the next decade and as a part of its push to attract $60 billion in foreign investment, Iran has started talks with Mitsui & Co. Ltd. and Total SA.   Managing Director Marzieh Shahdaei said in an...

Vatican and the Bank of Italy have signed a key agreement on cooperation aimed at regulating their relations after years of Italy’s mistrust to Vatican’s financial affairs. This agreement, signed by Head of Bank of Italy, Ignazio Visco, and Head of the Bureau of Financial Information, Rene...

Opening up the potential to significantly expand energy production in a region that’s currently a big importer, a joint expedition by India and the U.S. discovered a major deposit of natural gas in the Indian Ocean.   The U.S. Geological Survey said in a statement that this was potentially...

At first glance, decision of Nigeria to move to a floating exchange rate last month, and announcement of a merger of two UAE banks have little in common. Nigeria is a country with a population of almost 180 million. Its GDP per capita is less than $ 3 thousand at market exchange rates of the...

Following the damaging findings that financial institutions in the city-state handled money flows linked to Malaysian state fund 1MDB, Singapore's central bank said it will enhance controls against money laundering and take swift action against banks that get engaged in such activities.  ...

Key economic regulators assessed the UK’s exit from the EU as the most significant threat to the global economy’s growth since the crisis of 2008-2009. This follows from the statement of the Group of Twenty after their two-day meeting. Finance Ministers and Heads of central banks of the G20 agreed...

More mergers likely in America’s largest health insurance sectors are on the list after the potential bust-up of two mega deals among the country’s largest health insurance companies.   Citing reasons that mergers of large insurance companies would cut competition and boost rates for...