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The East Asian country, Japan ’s economy shrinks in the fourth quarter of 2020 due to COVID-19 , the economy surged by 4.8 per cent over the year, its first contraction since 2009 at during the peak of Global financial crisis. Analysts believe that the surge wasn’t that worse due to a strong October-December performance, […]
Muzibul Haque, a 75-year-old retired carpenter who lives in a remote village in Bangladesh’s southern district of Pirojpur, collects his old-age allowance on his mobile phone from the government, a development that was unthinkable even in recent past. Previously, he had to travel 10 kilometers, spend a considerable amount of time and bear the travel […]
Banks in Europe exposed to small- and medium-sized businesses constitutes a major challenge when applying for a new European Union classification system on climate-friendly investments due to insufficient data. The report compiled by United Nations Environment Programme Finance Initiative and European Banking Federation studied the system’s impact on Twenty six of Europe’s largest banks. Checking […]
The shares of Asia – Pacific region goes down following four straight sessions of losses with delay in vaccine rollouts and new strains of Coronavirus which will affect global economic recovery. MSCI’s (Morgan Stanley Capital International) index of Asia – Pacific shares slipped down to 0.4 percent outside Japan. Tokyo’s Stock Exchange Nikkei bounced 0.4 […]
The Anglo-Swedish drug maker AstraZeneca plc will deliver an additional 9 million vaccine doses to the European Union in the first quarter of 2021 despite the Chaos. Ursula von der Leyen, the president of European Commission announced on twitter that the AstraZeneca would start delivering the vaccine a week earlier than scheduled and expand its […]
According to Deutsche bank survey Bitcoin and U.S tech stocks are regarded as biggest asset bubbles by the investors right now. The Survey was concluded after the responses from 627 market professionals between Jan 13-15, the majority of investors (89%) think that some financial markets are in bubble territory. In those bubbles, Bitcoin and U.S. […]
Checkout.com, London based online payment company has managed to become Europe’s most valuable Fintech firm, with a market value of $15 billion, it has raised a staggering $450 million in an investment led by Tiger Global Management. For the second time the firm has managed to triple its valuation and its current value is around […]
After positive trial data from Pfizer and BioNTech on Vaccine, US banks are in line for windfall that widened the gap between long and short-term bond yields. Apart from big pharma, US banks are also reaping a windfall due to the news on the COVID-19 vaccine. Pfizer and BioNtech’s promise on releasing vaccine has not […]
South Africa is to set about an ambitious economic reform agenda that has similarities with Saudi Arabia’s efforts to stimulate investments. South Africa President Cyril Ramaphosa last month revealed a plan that aims in helping the country recover from corona’s impact. This plan includes fast tracking projects and boost infrastructure spending. Like Saudi Arabia, South […]
Oman Banks Association (OBA) has advised lending institutions in Sultanate to welcome few technological innovations in global banking and financial services landscape. The Association’s CEO, Ali Hassan Moosa, warns Oman banks for neglecting new developments that have the potential to revolutionise the global industry. The innovations include open banking, fintech, robotic process automation, Artificial intelligence, […]
Fintech Saudi and Flat6Labs have launched the Fintech Accelerator, a unique innovation and entrepreneurship program. Fintech Saudi is an initiative launched by the Saudi Arabian Monetary Authority (SAMA) to act as a catalyst for the development of the financial services technology. This intensive 3-month Fintech Accelerator program brings together Fintech Saudi’s market reach and Flat6Labs’ resources […]
Logistics giant Aramex said today it will make a non-recurring provision of $15.1 million for disruption caused to its business by the Beirut port explosion and a fire that blazed through warehouses in Morocco. Both incidents occurred in the third quarter of the year. The August 4 blast, caused by ignition of 2,750-tons of stored ammonium […]
