Banking and Finance News

Portugal licenses for cryptocurrency exchange

The Central Bank of Portugal recently issued a license to operate local cryptocurrency exchanges.

The Central Bank of Portugal recently issued a license to operate local cryptocurrency exchanges.

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Pound falls to lowest level in more than a month

The UK pound fell to its lowest level in more than a month against the dollar as a sharp increase in COVID-19 cases dented confidence in the country's economic recovery.

The UK pound fell to its lowest level in more than a month against the dollar as a sharp increase in COVID-19 cases dented confidence in the country's economic recovery.

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Thailand and Malaysia launch cross-border QR payment link

The move is the first step in linking Malaysia's RPP/DuitNow real-time retail payment system and Thailand's PromptPay.

The move is the first step in linking Malaysia's RPP/DuitNow real-time retail payment system and Thailand's PromptPay.

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Japan launches first green investment fund

On June 18, the Bank of Japan (BOJ) announced a plan to launch the first green investment fund for efforts to respond to climate change this year.

On June 18, the Bank of Japan (BOJ) announced a plan to launch the first green investment fund for efforts to respond to climate change this year.

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Asian emerging markets bleed capital as Fed signals to raise interest rates

Capital flows began to withdraw from Asian emerging markets because the Covid-19 pandemic slowed down the regional economic recovery.

Capital flows began to withdraw from Asian emerging markets because the Covid-19 pandemic slowed down the regional economic recovery.

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World Bank supports vaccination deployment for 400 million people in Africa

On June 14, World Bank President David Malpass had a meeting with the African Union (AU)‘S COVID-19 Vaccine Procurement Task Group (AVATT) to discuss ways of cooperation to promote COVID-19 vaccination in Africa, in which the World Bank will support the AU to deploy 400 million doses of Johnson & Johnson vaccine.

On June 14, World Bank President David Malpass had a meeting with the African Union (AU)‘S COVID-19 Vaccine Procurement Task Group (AVATT) to discuss ways of cooperation to promote COVID-19 vaccination in Africa, in which the World Bank will support the AU to deploy 400 million doses of Johnson & Johnson vaccine.

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7 Indonesian banks move to digital model

Seven small lending banks, including branches of two of Indonesia's largest lending banks, have announced plans to transform into digital banks, marks the fierce competition in the digital financial industry in this country.

Seven small lending banks, including branches of two of Indonesia's largest lending banks, have announced plans to transform into digital banks, marks the fierce competition in the digital financial industry in this country.

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The US starts the process of considering issuing a digital dollar

The US is launching a national consultation process on the possibility of issuing a central bank digital currency.

The US is launching a national consultation process on the possibility of issuing a central bank digital currency.

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A Swiss-Danish group launches a new blockchain technology for transparent and green cryptocurrency

As Bitcoin and cryptocurrencies are currently being criticized for lacking transparency and taking a lot of energy to create, a Swiss-Danish group is launching a new blockchain technology that is supposed to create a clean, transparent and green virtual currency.

As Bitcoin and cryptocurrencies are currently being criticized for lacking transparency and taking a lot of energy to create, a Swiss-Danish group is launching a new blockchain technology that is supposed to create a clean, transparent and green virtual currency.

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Canada taxes Tech giants

Canada's Finance Minister Chrystia Freeland said that the country will unilaterally impose a tax on technology "giants", starting from January 1, 2022.

Canada's Finance Minister Chrystia Freeland said that the country will unilaterally impose a tax on technology "giants", starting from January 1, 2022.

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The first country in the world to accept Bitcoin as a legal mean of payment

El Salvador could become the first country in the world to use Bitcoin virtual currency as a legal means of payment, President Nayib Bukele announced in a video tape played at the Bitcoin 2021 conference held in Miami, USA.

El Salvador could become the first country in the world to use Bitcoin virtual currency as a legal means of payment, President Nayib Bukele announced in a video tape played at the Bitcoin 2021 conference held in Miami, USA.

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Standard Chartered and BC Group form Cryptocurrency Trading Joint Venture in Europe

Standard Chartered has partnered with Hong Kong-based digital assets company BC Group to form a joint venture in the UK providing bitcoin and other cryptocurrencies trading and brokerage services, when high-end banks increasingly encroach on this field.

Standard Chartered has partnered with Hong Kong-based digital assets company BC Group to form a joint venture in the UK providing bitcoin and other cryptocurrencies trading and brokerage services, when high-end banks increasingly encroach on this field.

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Goldman Sachs doubles real estate investment in Japan

With its plan to increase investment, Goldman Sachs expects to join the ranks of leading international real estate investors in Japan as Blackstone.

With its plan to increase investment, Goldman Sachs expects to join the ranks of leading international real estate investors in Japan as Blackstone.

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China continues to test digital yuan

China is a promising player in the global race for digital currency of central banks (CBDCs) and has conducted trials in several major cities such as Shenzhen and Shanghai.

China is a promising player in the global race for digital currency of central banks (CBDCs) and has conducted trials in several major cities such as Shenzhen and Shanghai.

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EU launches a plan to create a common digital wallet

The European Union (EU) will announce a plan to build a digital wallet usable across the block on June 2.

The European Union (EU) will announce a plan to build a digital wallet usable across the block on June 2.

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Indonesia begins research and development of digital currency

The Central Bank of Indonesia (BoI) is promoting research and development of a digital currency (cryptocurrency) called Rupiah CBDC for use in the near future in the context of digitization being promoted in the world.  

The Central Bank of Indonesia (BoI) is promoting research and development of a digital currency (cryptocurrency) called Rupiah CBDC for use in the near future in the context of digitization being promoted in the world.  

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HSBC withdraws from US retail Banking Sector

Among 148 branches in the US, HSBC will sell 90 branches including Citizens Bank and Cathay General Bancorp.

Among 148 branches in the US, HSBC will sell 90 branches including Citizens Bank and Cathay General Bancorp.

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Central Bank of Korea tests the function of digital currency

The Central Bank of Korea (BoK) will test the functionality of a central bank-issued digital currency (CBDC), while considering the possibility of issuing the new currency.

The Central Bank of Korea (BoK) will test the functionality of a central bank-issued digital currency (CBDC), while considering the possibility of issuing the new currency.

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Deutsche Bank aims to spend more than €200 billion to fight climate change

Deutsche Bank, Germany's leading bank, aims to a target of more than 200 billion euros ($244 billion) in sustainable funding and investment by 2023.

Deutsche Bank, Germany's leading bank, aims to a target of more than 200 billion euros ($244 billion) in sustainable funding and investment by 2023.

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Norges Bank: Volatility of Cryptocurrencies Could Threaten the Banking System

According to Norway's central bank Norges Bank, the price volatility of cryptocurrencies could become a threat to the banking system if banks continue to increase such investments.

According to Norway's central bank Norges Bank, the price volatility of cryptocurrencies could become a threat to the banking system if banks continue to increase such investments.

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World Bank invests 2 billion USD to support economic recovery in Africa

The World Bank (WB) on May 19 announced it would invest $2 billion to support small and medium-sized businesses in Africa, as well as boost commercial activities in the region in the context of the "Black Continent" is gradually overcoming the recession due to the impact of the Covid-19 pandemic.

The World Bank (WB) on May 19 announced it would invest $2 billion to support small and medium-sized businesses in Africa, as well as boost commercial activities in the region in the context of the "Black Continent" is gradually overcoming the recession due to the impact of the Covid-19 pandemic.

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European banking stocks need to regain investors’ trust

After a decade of lackluster performance, European banking stocks may still need more time to regain investors’ trust.

After a decade of lackluster performance, European banking stocks may still need more time to regain investors’ trust.

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Samsung x Shinhan Bank to develop artificial personal teller and financial advisor

According to a new report from SamMobile, the Korean technology giant has just announced a partnership with Shinhan Bank to research and develop the NEON artificial human project as a personal teller and financial advisor for customers.

According to a new report from SamMobile, the Korean technology giant has just announced a partnership with Shinhan Bank to research and develop the NEON artificial human project as a personal teller and financial advisor for customers.

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Euro banknote counterfeiting declines strongly

The European Central Bank (ECB) said the amount of counterfeit Euro money seized in 2020 has dropped to a record low.

The European Central Bank (ECB) said the amount of counterfeit Euro money seized in 2020 has dropped to a record low.

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The US banks support digital currencies payments

A positive move of US policymakers to digital currencies when paving the way for the technology to become a legitimate part of financial infrastructure in the US which made Blockchain become a financial platform on par with systems like SWIFT, ACH or FedWire.

A positive move of US policymakers to digital currencies when paving the way for the technology to become a legitimate part of financial infrastructure in the US which made Blockchain become a financial platform on par with systems like SWIFT, ACH or FedWire.

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World Bank's $400 million Grant to restore 640,000 ha of mangrove forest in Indonesia

At the 2020 investment promotion conference held on November 25, Indonesian Minister of Marine and Investment Coordinating Luhut Binsar Pandjaitan said that the World Bank had just approved a financing of 5,500 billion rupiah (400  million USD) to support the restoration program of 640,000 ha of mangrove forest in Indonesia's next 4 years.

At the 2020 investment promotion conference held on November 25, Indonesian Minister of Marine and Investment Coordinating Luhut Binsar Pandjaitan said that the World Bank had just approved a financing of 5,500 billion rupiah (400  million USD) to support the restoration program of 640,000 ha of mangrove forest in Indonesia's next 4 years.

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