central bank
Think gas prices are bad? The flights are as follows; banks waive transfer fees in Ukraine: CBC’s Marketplace Cheat Sheet
Missing something this week? Do not panic. Radio Canada Marlet brings together the consumer and health news you need. Want this in your inbox? Get the Marlet newsletter every friday. Shocked by the price at the pump? The cost of your next flight could also skyrocket We’ve all been doing a double take at the …
South Korea’s Bioorchestra Pockets $45 Million; Pakistan’s NayaPay raises $13 million
South Korea-based drug developer Biorchestra has raised $45 million in one Series C funding round, while Pakistani fintech platform NayaPay raised $13m in a seed round. South Korea’s Bioorchestra raises $45 million Biorchestra, a South Korea-based drug developer specializing in RNA-based therapies for neurodegenerative diseases, has raised $45 million in one Series C funding round, …
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Londongrad tries to kick its 30-year habit of Russian money
LONDON, Feb 28 (Reuters) – VTB Capital last week lowered a large Russian flag on its palatial building opposite the Bank of England in London’s financial district, signaling a withdrawal from one of the world’s major centers of monetary flows. Hours earlier, Britain said it was freezing the assets of Russia’s biggest investment bank as …
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Taiwan sees limited impact from Ukraine war on chip supply chain
TAIPEI, Feb 26 (Reuters) – Taiwan expects little impact from the war in Ukraine on the supply of key raw materials for semiconductors, the government said on Saturday. Taiwan is a major chipmaker, home to the world’s largest contract chipmaker and Asia’s most valuable publicly traded company, TSMC, and key to alleviating a global semiconductor …
Shocking revelation on how Sri Lanka’s CPC ended up in multi-billion dollar debt
ECONOMYNEXT – Shocking details of how state-owned Ceylon Petroleum Corporation, which has no foreign exchange earnings to speak of, ended up with billions of US dollars in debt every time the central bank printed money to create currency shortages have now been revealed. Sri Lanka has long engaged in a practice of prohibiting the CPC …
Sri Lanka Should Table IMF Article IV Report in Parliament: Opposition
ECONOMYNEXT – Sri Lanka is expected to table in parliament a national economic report from the International Monetary Fund to be submitted to the Washington-based lenders’ board on February 25, and propose a program to save the economy, the MP said. opposition Harsha de Silva. The IMF has prepared a country report as part of …
Sri Lanka registers 2,300 SUVs and imports 10,000 tractors in 2021
ECONOMYNEXT – Sri Lanka registered 2,300 SUVs and imported 10,000 tractors in 2021, data shows import controls prevented heavily taxed imports like cars and three-wheelers from entering the country. Sri Lanka has banned imports of most automobiles, including three-wheelers and motorbikes which bring large revenues to the state, as money printing increased from February 2021 …
Sri Lanka CPC loses Rs 551m a day, needs price hike: minister
ECONOMYNEXT – Ceylon Petroleum Corporation, a state-owned company in Sri Lanka, lost 83 billion rupees in 2021 and records a loss of 551 million rupees per day in February 2022 amid rising global oil prices and domestic taxes said Oil Minister Udaya Gammanpila. The CCP was now losing 551 million rupees a day, Minister Gammanpila …
RTL Today – Stock market: Stock markets fall against US inflation
U.S. stock markets fell on Thursday as data showed inflation hit a four-decade high, raising fears the Federal Reserve could act aggressively with interest rate hikes. Consumer prices in the United States have risen at an annual rate not seen since February 1982, rising 7.5% in the 12 months to January, according to government figures. …
Sri Lanka spends $736m to defend $200 to dollar peg as ‘import reservations’ escalate
ECONOMYNEXT – Sales of Sri Lanka’s foreign exchange reserves to commercial banks defend a 200 peg to the US dollar that soared to $736 million from September to November 2021, official data shows, forcing money to be printed to maintain a fixed interest rate. In November and December alone, $664 million of reserves were sold …
Slumping Gold Long; Oil sold despite surge
Despite hitting seven-year highs, speculators sold crude oil for a third week as the WTI buying was more than offset by a 5% reduction in Brent long. The reduction in Brent was driven by profit taking and an increase in gross selling to a five-week high at 73.6k. The next update will let us know …
European yields continue to climb as the ECB braces for potential hikes this year
Remarks/Comments – ECB members seem to be preparing for possible rate hikes this year – Germany’s December industrial production fell short of expectations with supply chain bottlenecks cited as a factor Asia – China Jan Caixin PMI Services recorded its 6th month of expansion (51.4 vs. 50.5) E (lowest since August 2021) – Australia Q4 …
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US advice to banks: OK to transfer aid money to Afghanistan
A displaced Afghan woman holds her child as she waits with other women to receive aid outside a UNHCR distribution center on the outskirts of Kabul, Afghanistan October 28, 2021. REUTERS /Zohra Bensemra Join now for FREE unlimited access to Reuters.com Register NEW YORK, Feb 2 (Reuters) – International banks can transfer money to Afghanistan …
Sri Lanka’s exports soar 24% amid severe currency crisis
ECONOMYNEXT – Sri Lanka’s merchandise exports soared 24.17% to US$12.47 billion in 2021, official data shows, as the country is mired in the worst currency shortages in recent memory, dragged down by printed money to maintain fixed interest rates. “The hard work and commitment of industrialists along with the government’s decision to quickly vaccinate the …
Investment imports to Sri Lanka surge 40%, trade deficit narrows in November amid currency woes
ECONOMYNEXT – Sri Lanka’s import surge continued in November 2021 as capital goods rose 40% to US$433 million, central bank data showed, amid rising interest rates. low interest and sterilized foreign exchange interventions. The trade deficit narrowed for the third consecutive month as low rates and liquidity injections put pressure on a peg on which …
Dock to use crypto in international money transfers
Brazilian financial services provider Dock plans to use cryptocurrencies to process international remittances, according to a Reuters report from Friday, January 21. The company also plans to expand into Latin America and Europe. According to the report, the Brazilian reais will be converted into bitcoin and then into another currency. From there, funds will reach …
Sri Lanka’s imports jumped to $2.2 billion in December 2021 after reserves were sold
ECONOMYNEXT – Sri Lanka’s imports are estimated to have soared to US$2.2 billion in December 2021, the central bank said amid sales of sterilized currencies to maintain a 6.0% policy rate as the inflation reached 12.1%. The central bank said imports in December 2021 are expected to have reached $2.2 billion, compared to $1.7 billion …
Sri Lanka’s imports hit three-year high amid ‘currency shortage’
ECONOMYNEXT – Sri Lanka’s imports soared to US$21.6 billion in 2021 amid what is commonly referred to as a “currency shortage”, the highest since the year of money printing in 2018, according to provisional data in the public domain. Central Bank Governor Nivard Cabraal in a post on Twitter.com said 2021 imports are estimated at …
Omicron hopes to overcome fear, pound to euro rate posts new 22-month highs
Overall, the global risk appetite has remained stable over the past 24 hours, which has supported the UK currency. There has also been optimism that the UK government’s stance on the coronavirus will reduce economic damage and allow the Bank of England to raise interest rates further. The exchange rate of the British Pound against …
Romania’s economic outlook: Ease of resilience is key anchor in 2022 as reformist government collapses
The Romanian economy has performed better than expected under the impact of the COVID-19 pandemic, despite political uncertainty. However, following the collapse of the center-right coalition in 2021, hopes for reform and sustainable economic growth in the following years rest with EU money that will come under the Resilience Facility. In November 2020, the European …
Terms of trade turn favorable again in October after several months – Business News
The terms of trade, the ratio of export prices and import prices turned in Sri Lanka’s favor in October after remaining in unfavorable territory for many months, reflecting that ultimately merchandise exports reach higher prices in line with the boom observed for nearly a year in the world prices of raw materials. Mirror Business has …
Sri Lanka imports up 24.5% in October 2021 amid printing money and credit
ECONOMYNEXT – Sri Lanka’s imports increased 24.3% from the previous year to reach US $ 1,693 million in October 2021, despite trade controls, amid a recovery in private credit and exports, according to official data. Exports rose 40.4% to $ 1.2 billion, a trade deficit of $ 495 million, from $ 509 million a year …
Somaliland’s remittance businesses thrive around the world
Thirty years ago, Ismail Ahmed slipped from war-ravaged Somaliland to neighboring Djibouti, hidden in the back of a dump truck. His brother, who worked in Saudi Arabia, sent him money to pay for a flight to London to get a scholarship to study economics. “It was then that I really realized that remittances were a …
Fed to follow John Law for now as inflation hits record highs in US and Sri Lanka
ECONOMYNEXT – The U.S. Federal Reserve has said it will continue to print money, albeit at a lower rate, despite inflating a rating to 40-year highs and more than triple its target rate of ‘by November 2021, as mainstream economists warned earlier this year. The Fed triggered a global commodities bubble which led to high …
Reduced year-end risk despite underlying strength
Commodity-related updates from our daily Market Quick Take are available here Crude oil Crude Oil (OILUKFEB22 & OILUSJAN22) is trading near a three-week high as the market continues to view Omicron’s current concerns as short-term concerns and growing speculation that China, the world’s largest buyer of crude oil, will begin to add fiscal stimulus in …
How to transfer cryptocurrencies, coins from WazirX to Binance? A walkthrough
WazirX was acquired by Binance, a global cryptocurrency exchange, in November 2019. Binance is one of, if not the largest, cryptocurrency exchange in the world. Binance has a number of innovative crypto trading capabilities that no other Indian crypto exchange has. Additionally, Binance has the largest collection of cryptocurrencies on its site, with over 500 …
Sri Lanka’s exports hit record in October as money printing drives currency shortage
ECONOMYNEXT – Sri Lanka’s exports in October 2021 hit an all-time high of US $ 1,160 million, up 35% from the previous year, data from the Export Promotion Office showed as shortages currencies worsened amid money printing. Clothing exports increased 42.8% to $ 509 million, exports of rubber products increased 14.5% to $ 91.9 million, …
Key humanitarian group says Afghanistan’s most pressing need is cash
DUBAI, United Arab Emirates (AP) – Afghanistan faces a looming humanitarian crisis as aid agencies struggle to find ways to pay doctors, nurses and others on the ground as there are no currently no way to transfer wages to bank accounts there, said the head of the International Committee of the Red Cross. The words …
3 Altcoins to watch closely in November
October was another record month for cryptocurrencies as Bitcoin (BTC) broke past all-time highs and the overall crypto market broke the $ 2.6 trillion mark for the first time. As might be expected, the highs drew expert cries from both sides of the debate. Some warn that the highs are symptoms of a bubble that …
Inflation in Sri Lanka hits its highest level in 4 years in October 2021, food up 24% over 2 years
ECONMYNEXT – Sri Lanka’s inflation in the 12 months leading up to October 2021 jumped to 7.8%, the highest since October 2017, data showed amid domestic and US monetary policy corruption. Colombo’s widely watched consumer price index jumped 1.9% in October to 146.9 points as some foods that were kept under price control underestimating inflation …
Sri Lanka can emerge from economic crisis if “good policies” are in place (opposition lawmaker)
ECONOMYNEXT – Sri Lanka can emerge from the current economic crisis with good policies targeting the long term rather than ad hoc policy measures, said opposition lawmaker Mayantha Dissanayake. Sri Lanka’s precarious economic situation has created great uncertainty for entrepreneurs and businesses in the country. The loss of government revenue and the sharp increase in …
Rising Interest Rates ‘Inevitable’ As Inflation Cuts To Cripple UK Economy | United Kingdom | New
Bank of England: an expert analyzes the forecasts for the British economy Last week, Bank of England Governor Andrew Bailey hinted at the idea of ​​raising interest rates for the first time since the start of the COVID-19 pandemic. The numbers before the news looked promising, with the UK proudly boasting the strongest growth in …
The pound fell near two-week highs after UK employment data left rate bets intact
By Ritvik Carvalho LONDON (Reuters) – The British pound held close to a two-week high against the dollar on Tuesday as UK employment data was broadly in line with expectations, keeping expectations for futures intact Bank of England rate hikes. The pound hit a two-week high against the greenback on Monday following hawkish comments from …
Sri Lanka’s central bank on track to insolvency, quasi-fiscal losses looming
ECONOMYNEXT – The reserve liabilities of Sri Lanka’s central bank exceeded its net reserves by around $ 400 million (Rs 83.6 billion) in July 2021, data shows, putting the monetary authority on track insolvency, which can lead to significant losses and possible default. . The negative $ 400 million difference in the central bank’s dollar …
Biden’s Bank Robber – OpEd – Eurasia Review
Joe Biden’s candidate for the post of Comptroller of Currency in the US Treasury Department is Saule Omarova, a native of the Kazakh Soviet Socialist Republic and a graduate of Moscow State University, whom she attended as part of a “Lenin Personal University Fellowshipâ€. In a May 9, 2020 interview with NBC’s Chris Hayes, Omarova …
Beijing vs bitcoin: why China is cracking down on crypto
How to Become a Bitcoin Millionaire â€is a common theme of videos on TikTok, the app created by Beijing-based company ByteDance. Clip after clip of young influencers teaching others how to follow in their footsteps, showing lifestyles funded by crypto wealth. Yet the experience when I open The Chinese sister application of ByteDance, Douyin, is …
Sri Lanka kills $ 1.3 billion export industry to save $ 30 million
ECONOMYNEXT – Sri Lanka’s tea exports, which bring in US $ 1.3 billion a year, could lose 40 percent of production from a fertilizer ban, saving US $ 30 million, said an industry official amid a state ban on agrochemicals. “For the tea industry in particular, the cost of fertilizers is only two percent of …
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US default would cause ‘irreparable’ harm, warns Yellen again
Sept. 30 (Reuters) – Treasury Secretary Janet Yellen agreed on Thursday that any default on US debt would cause irreparable damage and the ensuing financial crisis and recession. Yellen, to whom a member of the House financial services committee asked if the damage caused by the federal government’s failure to meet debt obligations would be …
Soaring US bond yields lift the dollar, risk appetite stabilizes
Summary: US bond yields are on the rise, with the 10-year note hitting 1.5% (1.45% yesterday), a level not seen since June. The yield on benchmark Treasury bonds was 1.49%. (Source: Tradingview) More and more Fed officials are anticipating an improvement in the economy, ensuring a moderation in the pace of asset purchases. Fed Governor …
Angela Merkel’s austerity condemns Europe and Germany to decline
Photo: ATTILA KISBENEDEK / AFP via Getty Images At the height of the euro zone crisis, one of Angela Merkel’s close advisers explained to me her driving ambition: to bequeath to her successor a stronger chancellery than the one she inherited. If so, as Merkel prepares to retire, she should be elated. Germany’s trade surpluses, …
Sri Lanka’s sovereign bonds tripled to US $ 15 billion over 5 years
ECONOMYNEXT – Holdings of Sri Lanka’s international sovereign bonds have tripled in the past five years to 2019, as the last administration embarked on an unusual borrowing frenzy, the Minister of State for Finance said and in Capital Markets, Nivard Cabraal. Cabraal was governor of the central bank until 2015. “At the end of 2014, …
Emerging market policymakers grappling with rising inflation
August 21, 2021 WASHINGTON DC IYOUR SUMMER a few long months for the emerging world. Punitive temperatures – July was the hottest month on record in the world, according to recent analysis – stoked fires on Turkey’s Mediterranean shores and scorched Russia’s wheat fields. Covid-19 is raging in countries with low vaccination rates. Only 24% …
Sri Lanka approves bill to increase fines by 3,900% as price controls trigger milk shortage
ECONOMYNEXT – Sri Lanka’s cabinet of ministers authorized changes to increase fines by 40 times as a price control agency triggered milk powder shortages from which an autarky tax was lifted as shortages persist in cooking gas. Trade Minister Bandula Gunewardene said the fine would be increased by 3,900% to 100,000 rupees from the current …
Collapse: in Lebanon’s worst economic collapse in over a century
TRIPOLI, Lebanon – Rania Mustafa’s living room recalls a not-so-distant past, when a modest salary for a security guard in Lebanon paid for an air conditioner, lavish furniture and a flat-screen TV. But as the country’s economic crisis deepened, she lost her job and saw her savings evaporate. Now she plans to sell her furniture …
Vietnam tells US it won’t devalue, but dreaded Sri Lankan currency modernization looms
ECONOMYNEXT – The Vietnamese central bank has pledged the US Treasury not to devalue the Dong, insisting that monetary policy is aimed at domestic stability, although America has extracted a pledge to allow “to improve the flexibility of the rate exchange rate over time “. A feared “modernization” of monetary policy is also looming, perhaps …
Some Sri Lankan Businesses May Be Hit With Import Controls As Stocks Dip: Fitch
ECONOMYNEXT – Some Sri Lankan businesses could be affected while essential goods businesses could be less affected and import substitution businesses could benefit if import controls are tightened on weak external finances, Fitch said, a rating agency. “… The weak external finances of the ruler of Sri Lanka will affect more businesses that import non-essential …
Sri Lanka’s import controls shattered by credit and money printing in May
ECONOMYNEXT – Sri Lanka’s imports jumped to US $ 1.6 billion in May 2021, from US $ 993 million a year earlier. others have taken their place. Sri Lanka’s imports of consumer goods in May 2021 were down 4.1% to US $ 253 million from the previous year and down sharply from US $ 332 …
Sri Lanka’s public currency holdings rise in Covid-19 amid money printing talks
ECNOMYNEXT – Sri Lankan banknotes held by the public rose sharply during a coronavirus pandemic, a senior central bank official said, as the monetary authority injected liquidity through multiple means triggering deficits in the balance of payments and domestic debate. The currency in circulation increased from 678 billion rupees at the end of 2019 to …
Sri Lanka sees some recovery in state revenues in 2021, but spending picks up
ECONOMYNEXT – Sri Lanka saw some recovery in government revenues in the first four months of 2021 as the economy operated with minimal control of the coronavirus, but spending accelerated rapidly compared to 2019, before a fiscal “stimulusâ€, according to official tax data. Sri Lanka collected 116.2 billion rupees in tax and non-tax revenue in …
Sri Lanka’s CEAT Kelani radial tire capacity increased amid money printing and import controls
ECONOMYNEXT – The capacity of radial tires has been increased by 16% to 600,000 per year to meet the high demand, said Sri Lanka-based CEAT Kelani Holdings, as import controls were lifted as the money printing created currency shortages. The addition of two tire presses and a tire making machine will add the capacity to …
Bahrain Cards and Payments Market Opportunities and Risks Report 2021-2025: Focus on Cards, Direct Debit, Checks and Wire Transfers – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “Bahrain Cards and Payments – Opportunities and Risks to 2025” report was added to ResearchAndMarkets.com offer. The report “Opportunities and Risks of Bahrain Cards and Payments Market to 2025” provides a detailed analysis of market trends in Bahrain Cards and Payments industry. It provides values ​​and volumes for a number of …
Sri Lanka following John Law, rupee debauched in MMT: Kabir
ECONOMYNEXT – Sri Lanka is following in the footsteps of John Law, an 18th century French mercantilist who led France to a monetary collapse with a first central bank, by implementing the so-called modern monetary theory that debauchery money, accused an opposition lawmaker. Sri Lanka cut taxes sharply in December 2019 as part of a …
South Korea vigilant on market volatility after Fed’s hawkish stance
South Korea will be watching the financial market closely as market volatility could increase following the Federal Reserve’s signal of an earlier-than-expected rate hike, a senior government official said on Thursday. After freezing its key rate near zero at a policy meeting, the Fed signaled an earlier-than-expected rate hike in 2023 as U.S. inflation rises …
Sri Lanka targets foreign exchange reserves of US $ 4.0-4.5 billion by year-end (Central Bank)
ECONOMYNEXT – Sri Lanka expects official foreign exchange reserves at the end of the year of US $ 4.0-4.5 billion, helped by inflows not counting a swap from China, said the director of the Central Bank for Economic Research, Chandranath Amarasekera. “We believe that by the end of 2021, we will be able to maintain …
Five tips for making secure online transfers – KBC
Remittances – money sent home by Kenyans abroad – continues to provide a stable source of foreign exchange for Kenya while supporting many households. Data from the Central Bank of Kenya indicates that remittances have increased to a record $ 290 million (sh31.3 billion) in the first quarter of 2021, 27% more than the $ …
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India’s low-income frontline workers burned by rising fuel prices
A gas station attendant cleans the keypad of a pump at an Indian Oil gas station in Ahmedabad, India on May 14, 2018. REUTERS / Amit Dave / File Photo Rizwanudeen, a 37-year-old laborer who delivers food to the southern Indian city of Chennai, struggles to pay his rent and installments at the end of …
The surge in US job openings in April raises the dollar, barely
Loonie Dips, CAD Longs trimmed in BOC meeting Summary: A ascend in Jobs in the United States in April at its highest level since december 2000 (when the series began) lifted the Dollar against her great peers. the United States Department of Labor monthly Employment Workforce openings and turnover survey (BLOWS), a measure of job …
Yields, Dollar Slip, Kiwi Supply, RBNZ Optimistic Outlook
Summary: The key Yield on US 10-year bonds slipped to a 4-week low at 1.56% (1.60% yesterday) as Fed officials continued to minimize growing inflationary concerns. Richard Clarida, Vice-President of the Fed stuck to the party line saying that the recent rise in inflation will be temporary. A favorite measured of US dollar value against …
Sri Lanka’s imports surge in March 2021 despite controls like credit, exports resume
ECONOMYNEXT – Sri Lanka’s imports jumped US $ 1.96 billion in March 2021, up from US $ 1.52 billion in February, as exports and domestic credit rebounded, despite mercantilist import controls, according to official data. “Despite continued import restrictive measures, spending on merchandise imports increased significantly in March 2021 to reach US $ 1,926 million, …
Will Iran’s economy collapse under the coronavirus crisis?
There is no doubt that the current coronavirus crisis will undermine the Iranian economy and lead to a major contraction of the country’s gross domestic product. Some early estimates predict a contraction of up to 3%, although it is too early to offer a reliable assessment. The Iranian government has already announced a number of …
UPDATE 2-China debt crackdown hits cash loan providers
Through Shu Zhang, Elias glenn * The popularity of cash loans is increasing despite the risks, high interest rates * Regulators are considering measures to restrict non-bank online platforms * Online cash lending industry could reach 2.3 trillion yuan by 2020 (adds reference to new restrictions, details on China Rapid Finance) BEIJING, Dec. 2 (Reuters) …
Egyptian banks prepare for the impact of the pandemic
Bank of Cairo, one of Egypt’s state-owned banks, was days away from announcing its long-awaited IPO in March. Then the coronavirus scuttled the plan to list up to a quarter of its shares on the Egyptian stock exchange. Tarek Fayed, chairman of the bank, which has undergone extensive restructuring in recent years, said a new …
Sri Lanka’s imports resume in January 2021 amid credit recovery
Thursday March 11, 2021 5:57 PM ECONOMYNEXT – Sri Lanka’s imports jumped to US $ 1,592 million in January 2021, with credit and economic activity picking up to their highest levels since a coronavirus slashed tourism revenues from around February 2020, according to reports. official data. Sri Lanka’s imports were up from US $ 1,527 …
Vietnam RRSP ignored by IMF backing US mercantilists as Sri Lankan rupee falls on ‘flexible’ policy
ECONOMYNEXT – The Washington-based International Monetary Fund claimed that Vietnam’s external position was too strong and appeared to support bogus US claims of undervaluation by ignoring a sharply appreciating real effective exchange rate index. Instead, the IMF used another model based on the external current account to support the load and advocated an unreliable “flexible” …
Markets suffering from one case of “blues and two”
Market highlights Two-year yields have hedged their previous six-month range over the past week alone – and whether this move is sustainable or not matters a lot. Investors have a full data ledger to deal with this week, and signs of higher than expected inflation could hit the market like a ton of bricks It …
Markets suffer from case of sharply rising interest rates, stressing gold
yields hedged their previous 6-month range last week. Whether or not this movement is sustainable matters a lot. While risky assets might ignore long-term stocks, they will have a harder time ignoring “Blues and 2†moves (2-year yields) without a doubt. (The blues are a sequence of individual futures contracts grouped together over a 4-year …