Iceland ending capital controls imposed after 2008 financial crisis

Iceland's government and central bank on Sunday announced the end of all capital controls imposed after the 2008 financial crisis, citing a recovered economy.

Azerbaijan devalues currency by almost 50 percent

The Azerbaijani Central Bank devalued its currency by almost 50 percent on Dec. 21 due to global economic weakness and falling oil prices, according to a statement issued by the bank.

Greece, Creditors Reach Bailout Agreement (Officials)

Greek officials said Tuesday the government reached an agreement with international creditors on terms for a new bailout.

Russian Central Bank closes three more banks in crackdown

Russia’s central bank said on Dec. 13 that it had withdrawn the licenses of three more banks in a crackdown on shady financial activities a day after President Vladimir Putin renewed a drive to stem capital flight.

The closures of the three banks, the biggest of which was Investbank - ranked 79th in Russia by assets - were linked to mounting payment problems and dubious operations, it said.

The closures come weeks after the central bank withdrew the license of Master Bank, a mid-sized Moscow bank, in the most potent demonstration that Governor Elvira Nabiullina is serious about halting rampant fraud and money laundering in Russia.