“Mir”: Russia develops alternative electronic transfers to circumvent Western restrictions

Russia has developed alternative electronic transfers to circumvent Western restrictions. ‘Mir’ offers an alternative to Visa and MasterCard, which have stopped providing international transaction services to Russian customers The sanctions also targeted Russia’s holdings of euros and US dollars to prevent the country from trading internationally. However, according to the report, Moscow is putting... Read More

Cash is king in these uncertain times

When I drew attention a few weeks ago to the fund’s high cash holding as its greatest strength under current conditions, I was thinking of the need to rein in inflation and the likelihood of further monetary tightening by the main central banks of advanced countries. A few days later, the specter of war... Read More

Spotlight on Stablecoins and CBDCs: Part 1 – Technology

Canada: Spotlight on Stablecoins and CBDCs: Part 1 March 14, 2022 Borden Ladner Gervais LLP To print this article, all you need to do is be registered or log in to Mondaq.com. This is the first installment in a series exploring stablecoins and central bank digital currencies (CBDCs). The... Read More

SMEs to borrow against card sales with Linked Finance

Merchant Cash Advance allows for flexible repayments that scale with a business’s sales Exchange Niall O’Grady, Tied Financing. Photo. Bryan Mead Digital lending platform Linked Finance has launched a new lending product that allows businesses to unlock their daily cash flow from card payments as a funding source. Merchant Cash Advance will allow businesses... Read More

How sanctions create a risky tangle for Russian bonds

1. What are sanctions for? As part of a package of measures in response to Russia’s invasion of Ukraine, the United States banned investors from buying Russian government bonds sold after March 1 on the secondary market, where they trade after their initial sale. European Union sanctions also block the granting of “any new... Read More

Australian retail sales rebound in January as economy resists Omicron

January retail sales +1.8% vs. forecast +0.4% Housing loans up 7.7% per year Momentum continues in Q1, with Q4 GDP jumping 3% SYDNEY, Feb 28 (Reuters) – Australian retail sales were surprisingly strong in January as buyers resisted a surge in Omicron business with aplomb, suggesting the economy maintained considerable momentum in the new... Read More

Technology Law in Turkey: Highlights of 2021 – Commentary

Data protection obligations of the employer in the remote work regulationRegulations on the non-use of crypto assets in paymentsAmendments to the regulation on authorization in the electronic communications sectorGuideline on Commercial Advertising and Unfair Commercial Practices by Social Media InfluencersRegulation on the disclosure of confidential information Draft regulation amending the Regulation concerning consumer rights... Read More

NBU buys 50 million USD and sells 503 million USD on the interbank market from February 14 to 18

During the period from February 14 to 18, the National Bank of Ukraine bought $50 million and sold $503 million on the interbank currency market. The NBU said so in a statement, reports the Ukrainian Press Agency. The central bank acquired $50 million at a flat rate. In addition, the NBU sold $110 million... Read More

Will the RBNZ take thoughtful action or leapfrog when considering OCR on Wednesday?

The Reserve Bank’s (RBNZ) monetary policy committee is expected to raise the official exchange rate (OCR) after its first meeting of the year on Wednesday. Most bets are on this, increasing the rate by 25 points from 0.75% to 1%, but a 50 point increase is a possibility. Inflation is well above the committee’s... Read More

TSX futures are lower ahead of economic data, stronger crude limits losses

Feb 16 (Reuters) – Futures on Canada’s main stock index fell slightly on Wednesday, ahead of a slew of economic data expected later in the day that could give clues to the central bank’s rate hike plans, although stronger crude prices limited losses. March futures on the S&P/TSX index were down 0.2% at 6:54... Read More

Internet banking is thriving | The star of the day

The shift from manual banking to its digital means is certainly not a new phenomenon for the banking industry in Bangladesh. But the advent of the coronavirus pandemic has caused customers from all walks of life to focus on online banking to reduce the risk of contracting the deadly flu. Transactions through online banking... Read More

Sri Lanka says it won’t rush to IMF despite rising economic risks

Sri Lanka to try to boost national economy first – official Economy under increasing pressure as reserves run out Imports are stuck in containers and inflation has surged Despite pressure, country won’t rush to IMF for help COLOMBO, Feb 11 (Reuters) – Sri Lanka’s foreign exchange reserves are collapsing, essential imports are stagnating and... Read More

Asia Morning Call-Global Markets | Reuters

February 10 (Reuters) – ——————————————– ——————————————— ————————————————– ——————————————— ————————————————– ——————————————— Join now for FREE unlimited access to Reuters.com Register ————————————————– ————————————— ** indicates the closing price All prices from 6:21 p.m. GMT SHARES GLOBAL – Global equities rallied on Wednesday, with Wall Street rising again on a boost from Big Tech and European stocks... Read More

Explained: What the BOJ can do against rising Japanese bond yields

The Bank of Japan building is pictured in Tokyo March 18, 2009. REUTERS/Yuriko Nakao Join now for FREE unlimited access to Reuters.com Register TOKYO, Feb 8 (Reuters) – As Japan’s long-term interest rates rise, investors are wondering when the central bank will step in to defend its 0% target for the 10-year yield as... Read More

India’s digital rupee will be held in a state-backed wallet

The planned digital rupee to be issued by the Reserve Bank Of India will not be held in private wallets but will expose all transactions to government scrutiny. The Indian government will launch a state-backed wallet to hold its digital currency. The digital currency is expected to launch in the next fiscal year, although... Read More

Indian PM wants digital rupee in global payment system

Indian Prime Minister Narendra Modi has provided more details on the country’s recently revealed plan to introduce a central bank digital currency (CBDC) next year. In a speech to members of the Bharatiya Janata party he leads, Modi explained that the proposed payment system will be the digital form of India’s physical currency and... Read More

IMF Executive Board Approves $1 Billion Disbursement for Pakistan

WASHINGTON, Feb 2 (Reuters) – The International Monetary Fund said on Wednesday its board had approved a $1 billion disbursement to Pakistan after completing a sixth review of the country’s reforms under its lending program. of $6 billion. The disbursement brings Pakistan’s total drawdown from the Expanded Funding Facility program for budget support to... Read More

Top Nigerian Newspaper Headlines for Today, Sunday 30th January 2022

Hello Nigeria, welcome to Naija News’ roundup of top newspaper headlines in Nigeria for today Sunday 30th January 2022. The Arewa Youth Assembly has called on prominent Nigerians and business tycoons to join the race to succeed President Muhammadu Buhari in 2023. Arewa youth made the call in a statement titled “Private Sector Actors... Read More

Why Central Banks Oppose Crypto But Explore Their Own Digital Currencies

Aseem Gujar and Partha Sinha | TNN When you make a UPI payment, your bank settles the amount on your behalf at the end of the day. Digital payments like UPI are electronic instructions that authorize intermediaries such as banks to facilitate transactions. Even though these are “cashless” payment methods, they involve the transfer... Read More

Government debt yields end mixed

Government securities (GS) yields ended last week lackluster after a sell-offff US Treasuries as traders anticipated more aggressive interest rate hikes from the Federal Reserve. GS yields, which move opposite to prices, rose a weekly average of 5.01 basis points (bps), according to PHP Bloomberg Valuation Service benchmark rates published on the Philippine Dealing... Read More

e-CNY wallet downloads increase, but actual usage disappoints

China’s central bank released a wallet app for payments and money transfers using the digital yuan earlier this month. Although the e-CNY wallet was the most downloaded app in January, but according to a Reuters report, the actual usage in transactions was much less impressive. The report attributes this paradox to the fact that... Read More

Gross borrowing reached 2.78 trillion pesos

BW FILE PHOTO GROSS BORROWING by the national government reached P2.78 trillion at the end of November as it continued to raise funds for the pandemic response, according to preliminary data from the Bureau of Treasury (BTr). In the first eleven months of 2021, gross borrowing decreased by 8.9% from the P3,050 billion raised... Read More

The Treasury partially grants 5-year bonds in a context of high bid rates

Budget Secretary Benjamin Diokno has been appointed the new BSP governor. PHOTO BY EARVIN PERIAS MANILA, Philippines — The Treasury Office granted just 22.1 billion pesos on its 35 billion peso bond offering on Tuesday (January 11) as yields rose despite easing inflation expectations. The reissued five-year notes reached an average annual rate of... Read More

Bond yields on a downward path

KARACHI: Yields on government debt securities have been falling in both primary and secondary markets over the past week, as they have accumulated a 22-65 basis point (bps) decline on three-month to 10-year bonds after the authorities took action. to correct an “unwarranted” increase in returns. Yields fell 15 to 25 basis points on... Read More

Mortgage Rates Today Are Going Down | December 15, 2021

Iinterest rates are lower today. The average rate for a 30-year fixed-rate purchase loan has fallen to 3.607% while the rate for a 30-year refinance has fallen to 3.797%. While most types of loans have seen their rates drop, the rate on a 15-year fixed-rate mortgage has increased to 2.604% for purchase loans and... Read More

Digital finance to support Thai growth next year – End Min

BANGKOK, Dec.15 (Reuters) – Thailand’s digital finance will boost economic growth next year, helping small businesses gain better access to credit after struggling to stay afloat during the pandemic, the finance minister said on Wednesday. Small and medium-sized enterprises (SMEs), the backbone of Southeast Asia’s second-largest economy, have been hit hard by declining incomes... Read More

NOTICE – Electronic Hong Kong Dollar (e-HKD): another CBDC project in Hong Kong.

The Hong Kong Monetary Authority (HKMA) first discussed its project to explore a digital currency (electronic Hong Kong dollar or e-HKD) as part of its Fintech 2025 strategy unveiled in June. Following this, on October 4, the HKMA released a technical white paper on its retail central bank digital currency (CBDC), titled “e-HKD: A... Read More

Australian central bank says omicron will not derail economic recovery

SYDNEY – The Reserve Bank of Australia left its official cash rate at 0.10% at its monthly policy meeting on Tuesday, saying it will be some time before the conditions for an increase are in place and meeting concerns about the omicron variant of the COVID -19 virus. “The emergence of the omicron strain... Read More

Russians will pay fees on digital transactions in rubles, central bank says

Users of Russia’s central bank digital currency will pay a fee for each transaction, a senior Bank of Russia representative recently announced. The cost of the digital ruble, however, will not exceed those currently applied to prompt payments in the country. Bank of Russia to charge digital transfers in rubles The Central Bank of... Read More

Thai economy set to grow 3.5% to 4.5% next year, recovery is fragile – FinMin

The economy is expected to grow 1.0% to 1.2% this year – Minister of Finance Monetary policy must support fiscal policy Said fiscal policy remains strong Minister of Commerce sees inflation at 0.7% -1.2% next year BANGKOK, Nov. 20 (Reuters) – Thailand’s economy is expected to grow 3.5% to 4.5% next year thanks to... Read More

Chinese homebuilders must do their math as Evergrande faces payment default

Since China Evergrande began collapsing on debt payments in September, the world’s attention has turned to whether its collapse represents a moment of Lehman Brothers-like systemic peril (it doesn’t is not the case) – whether the entire Chinese real estate industry is ready for a series of defaults. (it probably is). Why is this... Read More

Qatar International Islamic Bank (QIIB) launches QMP eWallet – Qatar Mobile Payment System

QIIB first Islamic bank in Qatar to provide this service to both non-clients and clients Omar al-Meer: The electronic wallet represents a qualitative addition to the wide range of digital services provided by the bank. QIIB has announced the launch of its latest contactless payment solutions – QMP eWallet, offering customers the ability to... Read More

UK faces ‘choppy growth, rising inflation and rising income inequality’ – business live | Business

Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business. The surge in risky asset prices this year has made them increasingly vulnerable to a drop if economic growth worsens, the pandemic escalates, or investors lose confidence. That’s the message from the US Federal Reserve, which is... Read More

A bridge between cryptocurrencies and Fiat

Paying for products and services using a phone app has become common these days. Perhaps this practice is even more common than using cash right now. According to Statista, 427 million users used payment services like Apple Pay, Google Pay, and Samsung Pay. Not to mention other wallet and payment apps, including those that... Read More

Retail Sales Down 4.4 Percent in September Quarter | Mandurah Courier

Retail sales volumes fell a record 4.4% in the September quarter as lockdowns from COVID-19 hampered trade in major states. The Australian Bureau of Statistics said NSW saw the largest drop in volume (11.6%) reflecting blockages in Greater Sydney and areas during this time. Economists’ forecasts had indicated a sharp 5% drop in spending... Read More

Explanation: Taper of the Federal Reserve: how does it work?

The Federal Reserve Building on Constitution Avenue is pictured in Washington, USA, March 19, 2019. REUTERS / Leah Millis / File Photo Nov. 3 (Reuters) – The U.S. Federal Reserve is expected to announce on Wednesday that it will start cutting its asset purchase program as early as this month, removing a first pillar... Read More

Nifty Saw Opening Higher; IRCTC, Tata Motors, Tata Steel, SAIL In Focus

Indian equity benchmarks are expected to open higher, as indicated by the Nifty Futures traded on the Singapore Stock Exchange. The Singapore Stock Exchange’s Nifty Futures, also known as SGX Nifty Futures, rose 30 points or 0.17% to 17,780 amid positive indices from global markets. Asian markets edged higher on Monday, led by a... Read More

The underwriting of sovereign gold bonds ends today: what you need to know

Subscription for the last tranche of sovereign gold bonds ends today. The show was opened on October 25. The issue price was set at ??4,761 per gram of gold. The issue price of gold bonds will be ??50 per gram less for those who subscribe online and pay digitally. The Reserve Bank of India... Read More

What exactly will happen to eNaira?

Posted 28 October 2021 Months after the announcement of Nigeria’s digital currency, eNaira, they still haven’t told us what exactly it can accomplish that isn’t already possible. From everything they’ve said so far, eNaira appears to be a duplication of existing efforts in the electronic banking industry. After an initial false start and several... Read More

Modern monetary theory, or MMT, is here to stay. What investors need to know.

About the Author: Stephen dover is Chief Markets Strategist and Director of the Franklin Templeton Investment Institute. Follow his newsletter, Global outlook on Linkedin. Modern monetary theory has gained ground in recent years as America’s standard of living stagnates and inequality widens. Critics of MMT are quick to dismiss it, but investors need to... Read More

UK retailers see unexpected drop in retail sales

Retail sales in Britain fell for the fifth consecutive month, The Guardian reported. The 0.2% drop in September was unexpected, comes despite the removal of most pandemic-related restrictions, and marks the worst crisis since modern records began in 1996. The Office for National Statistics said sales volumes fell for household goods stores, drugstores, toy... Read More

Companies are going global to expand their presence

Companies around the world are going beyond their home markets to achieve economies of scale, source raw materials at low prices, reduce costs and enter new markets. Likewise, many Bangladeshi businesses are expanding overseas to find larger markets for their products and services and fuel their next phase of growth. Their success will depend... Read More

The Weekly Wrap – Inflationary Pressures Shift Monetary Policy Expectations and Peg the Dollar

Statistics It was a busier week on economic calendar, in the week ending 22sd October. A total of 61 statistics were monitored, up from 56 the week before. Of the 61 statistics, 26 are ahead of forecast, with 30 economic indicators below expectations. There were 5 stats that were in line with the week’s... Read More

Red and blue RBA in 2021

RBA Governor Philip Lowe Changes Central Bank Capital Framework (AAPIMAGE) The Reserve Bank of Australia recorded a “book loss” of A $ 4.3 billion, its first in years, with unrealized valuation losses exceeding the sum of the other components of profit, according to the 2021 annual report of the RBA. Despite the book loss,... Read More

International Business Machines: Major Financial Institutions Release Detailed Report on Central Bank’s First Digital Currency Experiment to Settle French Government Bonds

Paris, October 19, 2021 – A consortium of institutions led by Euroclear successfully experimented with central bank digital currency (CBDC) for the settlement of French Treasury bonds on a test blockchain. The experiment, sponsored by the Banque de France, included Agence France Trésor, BNP Paribas CIB, Crédit Agricole CIB, HSBC, Société Générale. IBM (NYSE:... Read More

How the Chinese real estate market landed in the deep freeze, East Asia News & Top Stories

BEIJING (CAIXIN GLOBAL) – On October 7, dozens of homeowners gathered at the sales office of a new residential development in Nanyang to demand refunds. The value of their home has depreciated by at least 30% in less than a year since the purchase. The average price of housing in a neighboring project of... Read More

Analysis: Cryptocurrencies Will Not Be Part of the Modern Monetary System

The views and opinions expressed in this article are those of the author. Electronic money and cryptocurrencies, particularly Bitcoin, have returned to the fore. Bitcoin was recently legalized in Ukraine and introduced as legal tender in El Salvador. The question is: are cryptocurrencies currencies or “money”? The question is not technological but legal. This... Read More

Government wants N $ 2 billion next week on Wednesday

The Bank of Namibia has issued an invitation to buy government bonds and is looking to raise over N $ 2 billion for the state kitty by next Wednesday. Both normal (N $ 1.6 billion) and inflation-linked (N $ 400 million) bonds are offered. Government bonds are financial instruments through which the government borrows.... Read More

Brazil plans to cap local players’ bets on foreign sites

I f the bill drafted by Senator Ciro Nogueira is approved, transactions with credit or debit cards as well as electronic currencies on betting sites that operate outside the country would be prohibited. The decision responds to a previous amendment presented on October 4 by Senator Plínio Valério, which incorporates the sentence that determines... Read More

T-bill and bond rates could rise amid concerns over high inflation

TREASURY OFFICE PAGE FB RATES on government securities could increase slightly this week inflthe nation’s concerns and the hawkish signals from the US Federal Reserve. The Treasury Office (BTr) will auction on Monday 15 billion pesos of treasury bills (treasury bills), divided into 5 billion pesos each in debt securities at 91, 182 and... Read More

Treasury moves M-Akiba from NSE to Central Bank

By JAMES ANYANZWA The Kenya National Treasury has moved the issuance of its mobile government bond program, known as M-Akiba, to the Central Bank, away from the Nairobi Securities Exchange and the Central Depository and Settlement Corporation. . This is after the initial retail bond failed due to poor timing, misunderstanding of the product,... Read More

Afghanistan needs immediate support, cash. Inaction is untenable

The humanitarian situation in Afghanistan is degenerating into disaster. Millions of Afghans now face severe economic stress and food insecurity following the Taliban takeover in August, triggered by widespread loss of income, cash shortages and rising prices foodstuffs. Officials at the UN and several foreign governments are warning of an economic collapse and the... Read More

Treasury grants less than half of reissued Treasury bond supply

The Treasury Office awarded less than half of its 35 billion peso bid for reissued 7-year treasury bills (T-bonds) as rates soared with the inflation figure of September exceeding the upper end of the central bank target. The Treasury allocated just 15.578 billion pesos in Tuesday’s auction, which was oversubscribed with a total of... Read More

FEATURED: The journey of electronic transaction interoperability in Rwanda in the eyes of RSwitch | New times

The interoperability of electronic transactions remains one of the barriers to the ease of doing business in Rwanda, hampering the country’s ambitions to become a cashless economy. The solution allows customers of different financial service providers to exchange financial transactions with each other, for example by making direct transfers from the mobile money account... Read More

Debt ceiling and growing list of Chinese woes continue to weigh on investors

Getty Images Getty Images Key points to remember: Watch the new month and the new quarter More bad news for China after lower than expected manufacturing report Asian central banks buy treasury bills, complicate portfolio diversification The new quarter seems to start on a slightly higher note as futures point to a positive opening.... Read More

Africa is faster in adopting crypto

In forecast for the year ending June 2021, Africa has raised $ 105.6 billion in cryptocurrencies, fueled by peer-to-peer (P2P) transactions in major growing countries. Kenya, Nigeria, South Africa and Tanzania were among the top 20 markets in the Global Crypto Adoption Index, with some of the highest baseline adoption rates in the world.... Read More

Evergrande “will miss the payment of offshore bonds” | Islander

At least some of China Evergrande’s offshore bondholders have not received the coupon payment due at the close of business, sources say, although the cash-strapped developer has struck a $ 1.5 billion deal. of dollars (2.1 billion Australian dollars) to settle its debt with a Chinese bank. With liabilities of $ 305 billion, Evergrande... Read More

African countries adopt crypto faster than their global counterparts

By Seth Onyango – Bird Newsroom Africa amassed $ 105.6 billion worth of cryptocurrency in the forecast for the year ending June 2021, thanks to peer-to-peer (P2P) transactions in key growing markets. Markets like Kenya, Nigeria, South Africa and Tanzania has had some of the highest local adoptions in the world and ranked in... Read More

Government to raise Rs 100 billion via domestic Sukuk in September

KARACHI: The government plans to raise Rs 100 billion through the five-year Ijara Sukuk auction this month against three identified assets, the central bank said on Monday, responding to a long-standing demand from the Islamic banking sector. The government expects to raise 75 billion rupees through the auction of the variable rental rate of... Read More

BSP targets unbanked sector for QR PH – Manila bulletin

BSP targets unbanked sector for QR PH By Lee C. Chipongian Central bank and payments industry to deploy Quick Response or QR Ph person-to-merchant (P2M) payments “in the coming days” to enable small, unbanked businesses, trike riders, market vendors, and sari-sari store owners to make digital payments. BSP launches QR Ph P2M this week... Read More

As Polaris Bank’s VULTe redefines digital banking

Banking Polaris Bank’s massive investment in basic IT infrastructure gave impetus to what has become today a stable financial service for its clients, with the VULTe platform becoming the new bride of the digital banking ecosystem, writes Nume Ekeghe Recently, the Nigeria Inter-Bank Settlement System (NIBSS), in its report titled: “Instant Payments – Annual... Read More

Stocks hold on to weekly gains despite Evergrande blow and surge in bond yields

European equities fall, US should open weaker Asian stocks down for the week but global markets up China Evergrande does not pay interest due Thursday US Treasury yields at their highest for nearly three months LONDON, Sept. 24 (Reuters) – Shares fell on Friday as uncertainty over Chinese developer Evergrande dampened confidence, but major... Read More

Nikkei ends more than 2% higher as concerns ease over Chinese company collapse

This archive photo shows the Tokyo Stock Exchange. (Mainichi) TOKYO (Kyodo) – Tokyo shares closed sharply higher on Friday, with the benchmark Nikkei gaining more than 2%, as fears over the potential collapse of debt-laden Chinese real estate developer Evergrande Group fade . The 225-number Nikkei Stock Average finished up 609.41 points, or 2.06%,... Read More

Global stocks advance after Fed signals support easing

AP – Global stocks were mostly higher yesterday after the Federal Reserve signaled it may start easing its extraordinary support measures for the United States (US) economy later this year. Benchmarks rose in Paris, London, Hong Kong, Shanghai and most other markets. US futures were higher. Markets have been closed in Tokyo for a... Read More

Bhutan to pilot digital currency with Ripple technology

Bhutan’s central bank is to use Ripple’s private ledger CBDC to pilot a central bank digital currency. Building on its current payment infrastructure, the Royal Monetary Authority will pilot retail, cross-border and wholesale payment use cases for a phased digital Ngultrum using Ripple’s blockchain technology. “Our collaboration with Ripple is a testament to the... Read More

Fed announces cut bond purchases “soon” and rate hike next year

Fed policymakers predict decline in bond purchases to end in 2022 Powell links withdrawal to September jobs report Inflation is expected to be above Fed target for four years WASHINGTON, Sept.22 (Reuters) – The U.S. Federal Reserve said on Wednesday it would likely start cutting its monthly bond purchases as early as November and... Read More

Oil bulls test after Fed rebound below 1.2800, US PMI and Canadian retail sales in sight

USD / CAD is struggling to keep the rebound off the week’s low. The Fed’s tapering sparked the latest rally, but bullish pairs appear to be struggling with the details. Growth optimism, news from China favors oil buyers encouraging EIA inventory drawdown. Preliminary US Markit PMIs for September, Canadian retail sales for July will... Read More

Speech by Mr. Harvesh Seegolam, Governor, Bank of Mauritius at the launch of the MauCAS QR Code

Directors of the Board of the Bank of Mauritius First Deputy Governor Second Deputy Governor The general manager of the MBA CEOs of banks and financial institutions President of the Association of General Retailers Members of the press Distinguished guests Ladies and gentlemen Dear online viewers A very good afternoon. It is a pleasure... Read More

CBN: FG spent 1.03 billion naira on debt service in the first quarter

The federal government spent a total of 1.03 trillion naira on debt service in the first quarter of this year, compared to 779.73 billion naira in the corresponding period of 2020, the Central Bank of Nigeria said. (CBN). Apex bank revealed this in its April 2021 economic report released this weekend. He attributed the... Read More

G-Sec listing on global indices soon: Senior Economic Advisor Sanjeev Sanyal

Read More

Thirteen Days Before E-Naira Launch, Here Are Six Things You Need To Know

Screenshot of CBN Governor Godwin Emefiele. In June 2021, the Central Bank of Nigeria (CBN) announced plans to launch a digital currency called ‘e-Naira’ by October 2021, joining 81 countries that are heavily considering digital currencies. The CBN’s decision follows two years of thinking about digital currency technology. Additionally, the CBN’s intention to achieve... Read More

Wall Street stocks and Treasuries dip after strong retail sales data

Asia-Pacific equity news Sign up for myFT Daily Digest to be the first to know about Asia-Pacific stock news. US stocks and government bonds slipped Thursday after stronger-than-expected US retail sales data raised hopes that the Federal Reserve would soon begin to dampen its stimulus efforts. The blue-chip Wall Street indices, the S&P 500... Read More

Sampath WePay presents the first digital “Man of the Match” award

Sampath Bank became the first bank in Sri Lanka to digitally present the ‘Man of the Match’ award during the recently hosted South Africa’s first ODI tour to Sri Lanka, offering a prize of Rs. 300,000 through its digital wallet very popular, Sampath WePay. Sri Lankan cricketer Avishka Fernando, who was named Man of... Read More

Mortgage rates are falling today, but volatility remains a risk

Mortgage rates have fallen today after starting the week by jumping noticeably higher yesterday. Today’s gains are due to worries about global growth at the start of the trading session and a strong 10-year Treasury auction during domestic market hours. Mortgage rates this morning weren’t too better than yesterday, but several lenders offered improvements... Read More

Regulating Digital Payment Services: Considerations for Canadian Policymakers | Dentons

Advances in contactless payment technology like tap to pay debit cards and Apple Pay have increased consumer demand for cashless payment methods. This demand has been amplified by the COVID-19 pandemic, as individuals have become uncomfortable with cash and online shopping has replaced physical activity (we discuss these trends in a four part series).... Read More

Nigerians in the diaspora pay $ 65.34 billion in three years

Temitayo Jaiyeola, Dayo Adenubi and Amarachi Orjiude Posted 23 Aug 2021 The people of the Nigerian diaspora have paid 65.34 billion dollars over three years to boost economic activities in the country, according to data obtained from the World Bank. According to World Bank data, in 2018, Nigerian diaspora remittances amounted to $ 24.31... Read More

CBDC launches unlikely to condemn dollar dominance

Mid-August marked the 50th anniversary of the ‘Weekend That Changed the World’ when US President Richard Nixon suspended dollar-to-gold convertibility at a fixed price and rolled the curtain on the Bretton International Monetary System. Woods. The next half century brought many In a monetary perspective, one of the most important was the continued dominance... Read More

How US payment groups got on the wrong side of India’s plans

In mid-2018, Ajay Banga, then CEO of Mastercard, enthusiastically championed Indian Prime Minister Narendra Modi’s efforts to promote electronic payments in the country’s cash-dominated economy. Modi “gets it,” he told an audience in New York City, highlighting the role of cash in everything from terrorist financing to the illegal drug trade. Three years later,... Read More

EMERGING MARKETS – Latin currencies hit by rising dollar after US jobs data

* Real Brazil overall for weekly losses as political tensions weigh in * Mexican peso limited rise seen – analyst * Chilean peso drops on Escondida strike plan * JBS and Lojas Americanas rally By Susan Mathew Aug 6 (Reuters) – Latin American currencies hit session lows on Friday as the dollar improved after... Read More

Australian ignores weakness in retail sales

Australian dollar prolongs its rally The Australian dollar continues to impress and is in positive territory for a third day in a row. AUD / USD entered 74 territory earlier today before pulling back slightly. Australian dollar ignores drop in retail sales The news was not good for Australian retail sales, but the Aussie... Read More

Bank of England views possible tightening of stimulus with suspicion

Thursday’s central bank meeting could lead to the release of a report on its strategy to reverse its decade-old quantitative easing policy, as well as a potential roadmap for raising interest rates. Observers will watch with nervousness the BoE meeting on Thursday, as aside from its latest decision on interest rates, the central bank... Read More

Lessons from Britain on Balancing Monetary and Fiscal Policy

July 24, 2021 NOTTODAY The Bank of England, like most central banks in rich countries, has two main functions: to maintain monetary stability and to ensure the soundness of the financial system. For most of his life, however, he was also responsible for managing public debt. (Fortunately, the original reason for the bank’s creation... Read More

A digital dollar could be a huge challenge for retail banking

Next week the House Committee on Financial Services will hold a hearing on Central bank digital currencies (CBDC). This is not the first Congressional hearing on CBDCs, and it will not be the last. The concept of a digital dollar, issued by a central bank, is a hot topic for policymakers. Although the Note... Read More

Deepening Nigeria’s Payments System | THIS DAY

Donald nwaogu The Central Bank of Nigeria (CBN) recently unveiled its intention to launch its digital currencies before December 2021. With this plan, the CBN joins over 70% of central banks around the world who are respectively studying payment technology following increasing investor interest in cryptocurrency. In addition, technological advancements in recent years, which... Read More

Crypto experts in demand as countries launch digital currencies

Monetary authorities around the world are rushing to design digital currencies, and many are wondering: who knows how to do this? Some of the first governments to go digital have found an answer among cryptocurrency enthusiasts. For those rebels to traditional approaches to finance, the digital trend presents an opportunity to create virtual money... Read More

Euroclear H1 2021 – Strong growth in operating income and continued investment

BRUSSELS, July 16, 2021 / PRNewswire / – Operating profit increased by 7% to 777 million euros (H1 2020: € 730 million) due to: Business income increased 13% to reach 723 million euros (H1 2020: 639 million euros) Banking and other income decreased by 40% for € 54 million (H1 2020: € 91) millions),... Read More

CEMAC: BEAC reactivates the financial standardization committee to ensure good management of new payment systems

(Business in Cameroon) – On July 7, 2021, the CORENOFI Financial Normalization Technical Committee of the Bank of Central African States (BEAC) emerged from its decades-long hibernation. It was reactivated by Abbas Mahamat Tolli (photo), governor of the BEAC, during a meeting in Douala. According to a note published at the end of the... Read More

Odd bond behavior could portend a weaker economy in the second half of the year

Text size A buyer in a Trader Joe’s market at the height of the pandemic, when the current economic boom was unexpectedly building in the United States Jeffrey Isaac Greenberg / Alamy The bond market usually runs in the background in people’s minds, with most only paying attention when yields are wavering one way... Read More

IMF Board Backs $ 650 Billion Aid Plan to Help Poor Countries

VENICE, Italy – The International Monetary Fund took a step on Friday toward easing widening global inequality and helping poor nations access vaccines, saying that its executive board approved a plan to issue $ 650 billion worth of reserve funds, which countries can use to purchase vaccines, finance health care and pay down debt.... Read More

Australian labor market remains strong amid COVID lockdowns

A man reads job advertisements in a newspaper at a cafe in Sydney, Australia on May 9, 2016. REUTERS / David Gray / File Photo Job vacancies rise 3% in June, extend record Retail sales lead forecast with 0.4% increase Approvals to build new homes dip from historic highs SYDNEY, July 5 (Reuters) –... Read More

India tries to list its sovereign bonds on global bond indices blocked

The Center expects to do so in this fiscal year as it wants to broaden the investor base and reduce borrowing costs. India’s attempts to list its sovereign bonds on global bond indices are stalled due to “insignificant problems,” said Sanjeev Sanyal, senior economic adviser to the finance ministry. The Center, which has been... Read More

Treasury bill rates and bonds will move sideways on a stable BSP policy

T-bills and bonds offered this week could see their rates drop sideways. – NB FILE PHOTO Government SECURITY RATESlinks for auction off this week is likely to move sideways after the central bank kept borrowing costs at record highs in its last policy meeting. The Treasury Office (BTr) is seeking to borrow 15 billion... Read More

European stocks end higher as Bank of England sees UK inflation exceed 3%

European stocks closed higher on Thursday, with the Bank of England holding interest rates unchanged and expecting UK inflation to temporarily exceed its 2% target, but hinting at a hawkish turn as that recently attributed to the US Federal Reserve. The French CAC ended up 1.2%, the European STOXX 600 rose 0.9% and the... Read More

Barclays Trading Desks at Full Power: Qatar Forum

This content was published on June 23, 2021 – 13:59 June 23, 2021 – 1:59 PM (Bloomberg) – Barclays Plc chief executive Jes Staley told the Qatar Economic Forum that most of the bank’s traders have returned to their desks after more than a year of restrictions. Earlier, Emmanuel Roman, CEO of Pacific Investment... Read More

“Major improvements” needed on bank charges

Central Bank of the Bahamas. By NEIL HARTNELL Editor-in-chief of the Tribune [email protected] Nearly two-thirds of Bahamian businesses say fees charged by commercial banks need “major improvements,” according to a Central Bank survey. The result, which will hardly come as a surprise given the constant complaints raised by both the private sector and consumers,... Read More

US retail sales fall as spending on services producer prices rise

Retail sales fell 1.3% in May; core sales fall 0.7% The producer price index increased by 0.8%; up 6.6% year on year WASHINGTON, June 15 (Reuters) – Retail sales in the United States fell more than expected in May as spending shifted to services from goods as vaccinations allow Americans to travel and engage... Read More

The Fed or the profits? Upcoming Global Week – June 14, 2021

In Global Week Ahead, the Fed meeting on Wednesday should be the focal point. Their money printing supports the US stock market more than any other factor. However, the earnings fundamentals of US large cap stocks are quite good. According to Sheraz Mian, Zacks’ research director, the United States has strong profit growth underway... Read More

RBI explores avenues to park reserves

The Reserve Bank of India (RBI), which currently holds record foreign exchange reserves of over $ 600 billion, is exploring the possibility of investing in top-rated foreign corporate bonds to generate higher returns, said two people familiar with the matter. Approval of the plan will mark a departure from the RBI’s current strategy of... Read More

Fed policy meeting, UK inflation, ILO unemployment, retail sales

Federal Reserve Chairman Jerome Powell. Photo: Susan Walsh / POOL / AFP via Getty Images The markets will have a lot to focus on over the coming week with a slew of economic releases to keep investors busy. The Federal Reserve is back in the fray and its two-day monetary policy meeting is the... Read More

Treasury’s insatiable appetite for loans crowds out the private sector

Central Bank of Kenya building on Haile Selasie Road, Nairobi. One of the first miracles former President Mwai Kibaki performed when he came to power in 2003 was to turn well-prepared bankers into hawkers. They have been seen pitching tents along the dusty streets of Nairobi, peddling loans to a languid... Read More

Treasury Pulse – Forex, US Treasuries, Malaysian Bonds, Markets,

Global Forex Market Volatility in global markets has been sucked in, leaving major currencies in a limited range as investors stepped aside ahead of Thursday’s development – May US CPI print and Central Bank monetary meeting European Union (ECB). Post-event risk seemed to add new direction to the currency market. Investors saw the U.S.... Read More

Take Five: Focus on Fed-flation | WKZO | All Kalamazoo

1 / FÉD-FLATION GROUNDS Markets will listen intently to what the Federal Reserve has to say about inflation at the end of their two-day meeting on Wednesday, amid fears that billions of dollars in fiscal stimulus could fuel higher consumer prices. After years of very low inflation, a range of measures, including the Fed’s... Read More

Cuba suspends dollar cash deposits on the island

The Central Bank of Cuba (BCC) has “temporarily” suspended dollar cash deposits on the island, a measure that applies to both Cubans and foreigners, state newspaper Granma reported Thursday. The measure will come into force on the next June 21st, the day when Cuban banks will no longer be able to receive dollars to... Read More

Best Rupee Bond Banker Sees Right Time For Indian Companies To Issue

Indian companies should use current yields which are at multi-lowest of the year for raising long-term funds, according to the country’s largest rupee bond arranger since 2007. “The market levels are absolutely fantastic, the absolute returns are quite low at multi-the lows of the year, the spreads are quite tight, ”said Neeraj Gambhir, president... Read More

Central bank action on climate change raises concerns about mission drift

The humiliation of ExxonMobil by activist investors who elected outside directors to the board to accelerate the oil company’s response to climate change took activism to unexpected new heights last month. Institutional investors around the world have stepped up efforts to manage their portfolios, with an increasing focus on transitioning to net greenhouse gas... Read More

To judge inflation, think of the pandemic as a war

Rising consumer prices in the United States as the economy began to reopen this spring – they rose 4.2% in the 12 months ending in April – prompted many historical comparisons to the bad ones. old inflationary days of the 1970s. If we are going to make historical comparisons, why stop at the 1970s?... Read More

Why Bitcoin’s mad race bodes well for the future of digital money

Bitcoin’s wild gyrations in 2021 have ensured one thing: the future of money will be electronic, but it won’t look like a cyberpunk utopia at all. Popular power will bow to the power of sovereigns. The madness and panic that have gripped decentralized cryptocurrencies are strengthening the appeal of their next rivals: digital currency,... Read More

Rate expectations: developing economies threatened by US inflation

As policymakers in the developing world grapple with the persistent spread of the coronavirus, they also face the economic threat of inflation – and not just at home. Accelerating price growth in major economies, particularly the United States, is fueling investor expectations for rate hikes. This raises bond yields, making it more expensive for... Read More

Your salary will be credited even on Sundays, public holidays from August

The Reserve Bank of India (RBI) has announced that the National Automated Clearing House (NACH) system will be available daily, including Sundays and holidays, starting August 1. RBI Governor Shaktikanta Das said so during the MPC’s announcement on central bank politics on June 4. The central bank said everything from dividends, interest, wages, pensions,... Read More

Analysis: Investors forgive as Oman’s austerity campaign hits roadblocks

Oman may be backing off an austerity plan to straighten its fragile finances in the face of unemployment protests, but investors are loosening the new Gulf state ruler a bit for now. Sultan Haitham, who ascended to the throne in January 2020, pledged last week on the third day of rare protests in several... Read More

Electronic payments are the catalyst for a global cashless society

Covid-19 has stepped up the role of digitization in the financial lives of a growing number of people around the world, sparking a massive transformation of the financial services industry with electronic payments at the epicenter. Payments are increasingly becoming cashless and the role of industry in promoting inclusion has become a high priority.... Read More

Government fully allocates reissued Treasury bonds

THE BUREAU of the Treasury fully allocated the 25-year reissued bonds on Tuesday. – NB FILE PHOTO The GOVERNMENT has granted a full allotment of the reissued Treasury Bonds (T-bonds) he offst Tuesday because the rate sought for the tenor was generally consistent with returns on the secondary market. The Treasury Office (BTr) raised... Read More

OAB completes first issuance of international perpetual bonds worth $ 250 million on the London Stock Exchange

Muscat: Oman Arab Bank SAOG (OAB) has successfully issued an additional $ 250 million in Tier 1 perpetual bonds, listed on the International Securities Market (ISM) of the London Stock Exchange. This makes OAB the first local bank to do so this year, ensuring a positive impact on its shareholders and on the national... Read More

Bank of Japan’s assets quadruple to $ 6.5 tril. under Kuroda’s aggressive easing

This photo shows the Bank of Japan headquarters building in Tokyo. (Mainichi) TOKYO (Kyodo) – Total assets held by the Bank of Japan increased to 714.56 trillion yen ($ 6.5 trillion) in fiscal 2020, according to central bank data on Thursday, quadrupling in eight years under Governor Haruhiko Kuroda’s aggressive monetary easing and growing... Read More

Fed mortgage purchases catch fire in US housing market

Homes are selling at a rapid rate across much of the United States due to a market imbalance, many say the Fed has stepped up. Source: DreamPictures / Photodisc via Getty Images Aaron Layman has never seen a more competitive housing market. Layman, a real estate broker and housing analyst based in Denton County,... Read More

Form 8.3 – Sanne Group PLC

Bloomberg Race to avert disaster at China’s biggest ‘bad bank’ (Bloomberg) – It was past 9 p.m. on Financial Street in Beijing when the character inside the Huarong Tower took an ink brush and, with trained strokes, began to put characters on paper. Another grueling day of work was drawing to a close for... Read More

Treasury bill rates move sideways for lack of new leads

RATE of treasury bills (treasury bills) on offum Monday will likely move to the side and follow US yields despite the lack of new leads. The Treasury Office (BTr) plans to raise 25 billion pesos on Monday via its offer of treasury bills (Treasury bills), broken down into 5 billion pesos from 91-day securities,... Read More

$ 2 billion crypto scam: Turkish Thodex exchange goes silent, sparks outcry from users

Hundreds of thousands of users of a Turkish cryptocurrency exchange, Thodex, were unable to access their digital assets after the trading platform abruptly halted trading on Wednesday, sparking allegations of fraud and thousands of criminal complaints. Thedox released a statement on its website Thursday saying it would be closed for four to five days... Read More

Government bonds will remain the most attractive, but stocks deserve a review

MANILA, Philippines – Government bonds are likely to remain attractive to investors as rising inflation and bleak economic prospects put them on the safe side, although riskier assets and stocks may be worth investing in. examined, in particular with the central bank which is committed to keeping rates low for the time being. .... Read More

Bank of Canada becomes first to signal exit from stimulus

The risk sentiment in the Asia session holds after the end of the Dow with gains of nearly 1%. US yields have fallen 3 to 5 basis points across the curve, with the 30-year yield at 2.23%, 10-year now at 1.53% and the 5-year yield at 0.78%. The US dollar weakened overnight with the... Read More