Author: viking

Banks should update their IT systems to provide for instant payments if they want to stave off competition from new entrants to the market when new EU laws on payment services take effect, a senior official at the European Central Bank (ECB) has said.

The Investigatory Powers Act needs to be updated if it is to comply with EU law, the UK government has admitted.

Multi-employer ‘master trust’ pension arrangements will face stricter authorisation and supervision, in line with that imposed by the Financial Conduct Authority (FCA) on contract-based schemes, the UK government has confirmed.

Pope Francis on Friday used the word “Rohingya” for the first time during his current trip to Asia to refer to refugees who have fled in large numbers from violence in Myanmar.
“The presence of God today is also called Rohingya,” he said in an improvised remark after meeting 16 refugees brought to the Bangladeshi capital Dhaka from their camps in Cox’s Bazar near the border with Myanmar.
“In the name of all of those who have persecuted you, hurt you, I ask…

The Philippines said on Friday it had suspended use of a landmark vaccine for the potentially deadly dengue virus after its manufacturer warned it could worsen the disease in some cases.
French pharmaceutical giant Sanofi announced on Wednesday that its world-first dengue vaccine could lead to more severe symptoms for people who had not previously been infected.
The Philippines has vaccinated more than 733,000 children with Dengvaxia since 2016 when it became the first country to start using it…

A number of websites that facilitate the second-hand sale of tickets have been told to improve their practices by a UK regulator after it raised concerns about their compliance with consumer protection law.

An inquiry into huge losses by Malaysia’s central bank on Thursday recommended Mahathir Mohamad face a criminal investigation, ahead of polls at which the former premier wants to oust the current government.
The final report by the official Royal Commission of Inquiry into the scandal in the 1990s during Mahathir’s tenure also recommended Anwar Ibrahim – finance minister at the time and now a leading opposition figure languishing in jail – face a criminal probe.
Mahathir…

Pope Francis on Thursday arrived in Bangladesh, where hundreds of thousands of Muslim Rohingya refugees have sought sanctuary after fleeing a crackdown in neighbouring Myanmar, in the second stage of a tour dominated by the plight of the persecuted minority.
Francis – the first pope to visit Bangladesh in 31 years – will spend three days in the majority-Muslim country, which is grappling with a rise in Islamist extremism that has seen Catholics attacked for their faith.
He flew to…

President Donald Trump spoke with President Xi Jinping by phone to discuss North Korea’s latest missile launch, a test that showed progress in the country’s effort to produce nuclear weapons capable of striking the US.
“President Trump underscored the determination of the United States to defend ourselves and our allies from the growing threat posed by the North Korean regime,” the White House said in an announcement.
Trump “emphasised the need for China to use all…

None of the UK’s largest banks will be ordered to set more capital aside to cover potential liabilities following this year’s ‘stress tests’, the Bank of England has confirmed.