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29th Mar 2024

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Malta's Pilatus Bank set to lose banking licence

The European Banking Authority (EBA) chairman, Andrea Enria, has backed a recommendation by the Maltese financial regulator to withdraw the Pilatus Bank's banking licence due to "the current circumstances of the bank's ultimate beneficial owner," reported Reuters. The owner, Ali Sadr Hashemi Nejad, was indicted in the United States in March for bank fraud, money laundering and the evasion of sanctions against Iran.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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