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Global prudential body to fine-tune oversight of Islamic finance

BY Reuters |

The body governing prudential standards in global Islamic finance plans to tighten oversight of market practices and revise capital adequacy and disclosure requirements.
Philippines seeks to tighten money laundering laws after heist

BY Reuters |

The Philippines started the process to strengthen its anti-money laundering and bank secrecy laws, aiming to plug loopholes that allowed $81 million stolen in one of the world's biggest cyber heists to pass through Manila banks and casinos.
Japan's Takata looks at restructuring as airbag recall woes mount

BY Reuters |

Japan's Takata Corp said it was considering a drastic review of its inflator division and the sale of non-core businesses - its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags.
Handicapping Saudi Arabia’s audacious plan to save itself

BY Reuters |

When Saudi Arabia's King Salman replaced his oil minister and reshuffled his cabinet on Saturday, he did so with the goal of executing an audacious plan to transform the country’s economy.
Saudi bourse selects HSBC to advise it on planned 2018 listing

BY Reuters |

The Saudi Stock Exchange has selected HSBC Saudi Arabia to advise on its own planned flotation scheduled for 2018, the exchange, known as Tadawul, said in a statement.
Qatar mandates banks for $5 bln sovereign bond

BY Reuters |

The government of Qatar has mandated banks for a $5 billion sovereign bond, a source familiar with the matter told Reuters.
UAE cabinet approves creation of central Islamic finance authority

BY Reuters |

The United Arab Emirates' cabinet has approved the creation of a centralised sharia authority that will monitor and set standards for Islamic finance in the country, aiming to boost growth of the industry.
Abu Dhabi's Taqa considering bond issue

BY Reuters |

Abu Dhabi National Energy Company (Taqa) is the latest entity from the region considering an international bond, according to several sources.
JPMorgan becomes first global bank to fall foul of Hong Kong's stricter IPO sponsorship rules

BY Reuters |

JPMorgan Chase & Co (JPM.N) has become the first global investment bank to fall foul of Hong Kong's stricter IPO sponsorship rules, dealing a blow to its reputation in the region.
French retailer Casino to sell Big C Vietnam for $1.1 billion

BY Reuters |

Casino is to sell its Big C Vietnam business to Thai conglomerate Central Group for 1 billion euros ($1.1 billion) including debt, giving the French retailer further respite from a debt pile that pushed its credit rating to junk.