In a significant move within the IT and communications sector, Colbek Systems, an IT and cyber security company based in Nuneaton, has been acquired by Flotek Group. This acquisition marks...
Category: Finance
Independent Growth Finance (IGF) Delivers a Record Year for New Business
Independent Growth Finance (IGF) has reported a record-breaking year for new business, showcasing its continued commitment to supporting mid-sized businesses across the UK. The Surrey-based company has achieved significant growth,...
Gold Price Hits Record High; Global Markets Rally on ‘Soft Landing’ Hopes
Gold prices have surged to a record high, driven by a combination of a weaker dollar, expectations of U.S. interest rate cuts, and geopolitical tensions. This rally in gold prices...
StanChart Makes Three Executive Changes in Europe, Asia Transaction Banking Business
Standard Chartered (StanChart) has announced significant changes in its transaction banking leadership across Europe and Asia. These changes, effective immediately, aim to strengthen the bank’s operations and enhance its service...
Five Tier-1 Banks Facilitated N346.55tn Mobile, Internet Banking Transactions in 2023
In a significant milestone for Nigeria’s banking sector, five Tier-1 banks facilitated a staggering N346.55 trillion in mobile and internet banking transactions in 2023. This represents a 29% increase from...
Weiss Ratings Accuses Banks of Spreading ‘Misleading’ Information
In a recent filing with the Federal Communications Commission (FCC), Weiss Ratings has accused several banking groups of disseminating misleading information about its bank safety ratings. Weiss Ratings, an independent...
Near Half a Decade Later, None of Hong Kong’s Virtual Banks Have Turned a Profit
Nearly five years after their inception, none of Hong Kong’s virtual banks have managed to turn a profit. Despite the initial excitement and significant investments, these digital-only banks continue to...
Renewed Pressure on the Shilling: Banks’ Concerns
The Kenyan shilling is facing renewed pressure, causing concern among banks and financial institutions. This pressure is attributed to several factors, including the current account deficit, fluctuating interest rates, and...
PNB, SBI Shares in Focus as Karnataka Government Cuts Ties
In a significant move, the Karnataka government has directed all its departments, corporations, boards, universities, and public sector units to withdraw their investments and deposits from Punjab National Bank (PNB)...
Banks Post Record Sh140bn Half-Year Profit Amid High Rates
In a remarkable financial performance, banks in Kenya have posted a record Sh140 billion profit for the first half of the year, despite the challenging economic environment marked by high...