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Promoting Local Currencies in Cross-Border Transactions

A recent push for the use of local currencies in cross-border transactions is gaining momentum as countries and financial institutions look to reduce dependence on the US dollar and euro. This shift aims to foster economic stability, enhance regional cooperation, and provide more autonomy over monetary policies. Emerging markets and developing economies are at the forefront of this movement, exploring ways to integrate local currencies into international […]

Big Organisational Rejig Planned By BJP Leadership In Uttar Pradesh

By Rahil Nora Chopra The Lok Sabha election results in Uttar Pradesh signify a dramatic change in the state’s political fabric, with Akhilesh Yadav-led Samajwadi Party springing up a surprise and making eminent electoral gains against the powerful BJP. Samajwadi Party won 37 out of the 80 seats – making this its biggest performance ever […]

WikiFX launches SkyLine List – Create a “Michelin Guide” for Forex Info

BANGKOK, THAILAND – Media OutReach Newswire – 19 July 2024 – The foreign exchange information service platform WikiFX has launched SkyLine Ranking aiming to create a “Michelin Guide” for the foreign exchange information industry and help investors obtain accurate financial (foreign exchange) information. WikiFX’s SkyLine list’s first release and award ceremony will be held on September 7th at the WikiEXPO Bangkok Summit. For the first SkyLine ranking […]

VinFast officially launches VF 5 electric SUV for sale in the Philippines

MANILA, PHILIPPINES – Media OutReach Newswire – 20 July 2024 – VinFast Auto has officially announced the pricing and opened reservations for the VF 5 electric SUV in the Philippines, just over a month after debuting the brand in the market. VinFast VF 5 model is officially on sale in the Philippines. The VF 5 electric SUV is priced at 1,191,000 Pesos with battery. In addition, VinFast […]

U.S. Airlines Ground Flights Due to Communication Issues

Major U.S. airlines faced significant disruptions on Friday as widespread communication issues forced them to ground flights, causing delays and cancellations across the nation. This incident, part of a broader trend of system outages, also affected various sectors globally, including banks and media companies, highlighting the growing vulnerability of interconnected digital infrastructure. The grounding began early in the day when major airlines, including American Airlines, Delta Air […]

OxPay on the Verge of Adding Potentially Lucrative Business: Issuing Credit Cards

OxPay to expand its services by issuing credit cards, enhancing its position in the competitive fintech market. New CEO Yick Li Hsin leads the charge in exploring new markets and business opportunities. Strategic partnerships and collaborations aim to increase merchant acquisition and market presence. SINGAPORE – Media OutReach Newswire – 19 July 2024 – OxPay Financial Limited (SGX: TVV) (“OxPay” or the “Company”, and together with its […]

Third Plenum Of Chinese Communist Party Maintains Status Quo On Economic Policies

By Anjan Roy China has just concluded its “third plenum” (from 15 to 18 July) which traditionally re-examines and gives fresh directions in the country’s economic policy. The all-powerful Central Committee of the Chinese Communist Party generally holds seven plenums in five years, of which the third is devoted to looking at economic issues and […]

Global Tech Outage Disrupts Flights and Services

A massive technology disruption struck worldwide over the night of July 19, 2024, as Microsoft experienced a significant global outage affecting its online services. This unprecedented breakdown led to widespread service interruptions, impacting various sectors and prompting substantial disruptions in daily operations. The outage began late Thursday and persisted into Friday, creating chaos for users relying on Microsoft’s suite of products, including Office 365, Outlook, and Azure […]

Crypto Rally Breaks Away from U.S. Equities Trend

This Friday, the cryptocurrency market witnessed a significant rally, diverging sharply from its recent pattern of correlation with U.S. equities, which have continued their downward trajectory. The unexpected surge in digital assets has captured the attention of investors and analysts alike, raising questions about the factors driving this divergence and its implications for future market behavior. Over the past week, U.S. stock markets have experienced a series […]

Days Needed to Recover from Microsoft, CrowdStrike Outage

A recent major IT outage linked to Microsoft and CrowdStrike caused widespread disruptions globally, affecting banks, airlines, and numerous businesses. The outage, which started on July 19, led to significant delays and operational issues, particularly in Australia where initial reports of system failures emerged. CrowdStrike clarified that the outage was not the result of a cyberattack, but rather a faulty update. The disruption resulted in Windows “blue […]

Yogi Adityanath Shows Who Is In Real Control Of Uttar Pradesh In 2024

By Sushil Kutty Any lingering doubts on who is in control in Uttar Pradesh went out the window the minute Chief Minister Yogi Adityanath disregarded all opposition to the restrictions placed on eateries along Kanwar Yatra routes, including the objections from NDA allies JD-U and the RLD, and ordered that the advisory asking eateries along […]

UAE Telecommunications Authority Addresses Microsoft IT Outage Impact

A significant IT outage affecting Microsoft services has caused widespread disruptions globally, including in critical sectors such as aviation, banking, and media. The UAE’s Telecommunications and Digital Government Regulatory Authority (TDRA) issued a statement on July 15, 2024, addressing the ongoing situation. The outage began on July 13, 2024, when an automated cleanup operation inadvertently deleted essential resources within Microsoft’s Azure cloud platform. This triggered a series […]

Imposition Of 2 Per Cent Tax On Super Rich Is Imperative For Finding Resources For Jobs Generation

By Nitya Chakraborty Only four days are left for the presentation of the first budget of the Narendra Modi 3.0 government on July 23. The fundamentals of the economy are currently strong, but the distress areas include the huge unemployment problem with the educated youth and the women feeling the intensity of the distress most. […]

Abu Dhabi Commercial Bank Reports Strong Q2 Net Profit Growth

Abu Dhabi Commercial Bank (ADCB) has announced a significant increase in its net profit for the second quarter of 2024, exceeding market expectations. The bank reported a 20% rise in its net profit, attributing the growth to strong operating performance and improved economic conditions in the region. The financial institution’s net profit for Q2 2024 reached AED 1.7 billion, compared to AED 1.42 billion in the same […]

Middle East Embraces ESG Formats in Financial Issuance

The Middle East is witnessing a significant shift towards environmental, social, and governance (ESG) formats in financial issuance. This trend marks a growing alignment with global sustainability standards as issuers in the region increasingly prioritize ESG criteria in their financial strategies. This shift is driven by the rising awareness of the importance of sustainable finance, alongside pressures from international investors and regulatory frameworks pushing for greener and […]

AfDB Approves $1 Billion Loan to Boost Transnet

The African Development Bank Group (AfDB) has sanctioned a ZAR 18.85 billion ($1 billion) loan to Transnet, South Africa’s state-owned freight transport and logistics company, to support its recovery and growth initiatives. This 25-year loan, fully backed by the South African government, is a cornerstone of Transnet’s comprehensive five-year capital investment plan, valued at R152.8 billion ($8.1 billion). This plan aims to rejuvenate and expand the nation’s […]

Instead Of Gloating Over ‘Record’ Job Generation, Modi Govt Should Do Some Retrospection

By Krishna Jha In India today, the number of unemployed especially in the working age has gone up to more than forty crore out of the population of one billion. The demon of deprivation stares at every unit of families. With occasional employment, life is barely sustained. The ruling circle never gets tired of claiming […]

IGC Subsidiary Entered into a Cooperation with Confiprosper Fintech

Accelerate commercialization of its algo-trading technology HONG KONG SAR – Media OutReach Newswire – 18 July 2024 – International Genius Company (“IGC” or the “Company“, together with its subsidiaries, the “Group“; stock code: 0033.HK) announced a business update: the Company’s Subsidiary, Deep Neural Computing Company Limited (“DNCC“), entered into a Cooperation Framework Agreement with Confiprosper Fintech Limited (“CFL“), a Hong Kong corporation. The Agreement aimed at leveraging […]

Bankrupt Crypto Lender BlockFi to Initiate Initial Crypto Payouts via Coinbase

Bankrupt cryptocurrency lender BlockFi revealed plans on Thursday to begin its initial cryptocurrency distributions through Coinbase starting July 2024. The company, which filed for bankruptcy earlier this year amidst regulatory scrutiny and financial woes, aims to kickstart the process of returning funds to its investors. BlockFi’s decision marks a pivotal moment in its bankruptcy proceedings, following months of negotiations with creditors and regulatory bodies. The firm, once […]

Sheikh Ammar Bin Humaid Al Noaimi Chairs Ajman Bank Board Meeting

His Highness Sheikh Ammar Bin Humaid Al Noaimi, Crown Prince of Ajman and Chairman of Ajman Bank Board of Directors, led a pivotal meeting today at the bank’s headquarters. The session focused on strategic initiatives aimed at enhancing the bank’s operational efficiency and expanding its service offerings in line with evolving market dynamics. Key discussions during the meeting revolved around bolstering Ajman Bank’s digital transformation efforts. Sheikh […]

Grey Expands its International Presence and Services to Latin America (LATAM), Southeast Asia (SEA) Markets

The company announces new payout support in multiple countries, serving a wider audience of digital nomads as it expands its services and operations to Latin America and Southeast Asia SAN FRANCISCO, US – EQS Newswire – 18 July 2024 – Y Combinator alum Grey (https://Grey.co) a B2C cross-border payments startup founded in 2020, is expanding its services and operations to Latin America (LATAM) and Southeast Asia (SEA). […]

Emirates NBD Sees 14.5% Profit Surge in Q2

Emirates NBD, Dubai’s largest bank by assets, has announced a 14.5% increase in net profit for the second quarter of 2024, driven by robust loan growth and improved performance of its subsidiaries. The bank’s net profit rose to AED 3.6 billion ($980 million), compared to AED 3.15 billion in the same period last year. Several factors contributed to this growth, including a surge in net interest income […]

Citi to Take Wealth Management to Next Level with the Market-First Launch of Wealth 360

Entering an Open Banking Era That Fosters a Customer-Centric Banking Landscape Through the IADS Pilot Program HONG KONG SAR – Media OutReach Newswire – 17 July 2024 – Citi Hong Kong today announced the launch of Wealth 360, a pioneering digital wealth management feature on Citi Mobile® App, through the Interbank Account Data Sharing (IADS) pilot program introduced by the Hong Kong Monetary Authority (HKMA). This first-in-market […]

SOLOWIN Launches Solomon VA+, Leading the Way with Hong Kong’s First App to Integrate Traditional and Virtual Asset Trading and Wealth Management Services

HONG KONG SAR – Media OutReach Newswire – 17 July 2024 – SOLOWIN HOLDINGS (“SOLOWIN” or the “Company”) (Nasdaq: SWIN), a securities brokerage offering comprehensive financial services to investors worldwide, announced the launch of Solomon VA+, an institutional-grade all-in-one smart trading app through its subsidiary, Solomon JFZ (Asia) Holdings Limited (“Solomon”). Ms. Lily Liu, CFO of Solowin (Left 2), Mr. Yang Zhao, Deputy CEO of Finloop (Left […]