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Arun Jaitley Says Demonetization And GST To Curb Cash-Based Economy In India

Indian Finance minister Arun Jaitley stated that cash-based transactions will come down in the country due to measures like the demonetization drive and rollout of GST in the last 10 months. Addressing a group of policymakers and economists gathered for

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New Visa Research Shows Australians Are Open To IoT-based Payments

Global credit card company Visa has found in a recent survey that over 50 percent of Australians are open to using new features like fingerprints, retina scans or voice activation as replacement to PINs in making payments. The preference was

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PwC Says UK Growth To Slow With Declining Consumer Spending

The UK economy is likely to suffer from a slowdown in growth as households cut back on spending based on research conducted by global consultancy firm PwC. The country’s GDP growth is likely to drop to 1.4 percent in 2018

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Xi Jinping Urges PBoC To Take More Active In Managing Risk

Chinese President Xi Jinping has asked the country’s central bank to take a more active role in managing risk in the financial system. Speaking at the National Financial Work Conference, a meeting that is held every five years, Xi stated

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FCA Proposes New Rules To Aid Saudi Aramco Listing On LSE

UK regulator, the Financial Conduct Authority (FCA) proposed new rules this week to enable sovereign state-owned companies like oil giant Saudi Aramco to list on the London Stock Exchange (LSE). The FCA has said that the proposal would help expand

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RBS Agrees To Pay $5.5bn To Settle U.S. Mortgages-Related Selling Charges

British banking major Royal Bank of Scotland (RBS) has agreed to pay a fine of $5.5 billion (£4.2 billion) to the U.S. Federal Housing Finance Agency (FHFA) to settle charges of mis-selling mortgages in the days leading to the 2008

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ANZ and Westpac Conduct Successful Blockchain Trial With IBM

Two Australian banks ANZ and Westpac have announced that they have successfully concluded a significant trial in collaboration with tech firm IBM in which blockchain technology was used to digitise the bank guarantee process in real estate leasing transactions. The

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Foreign Exchange Reserves In China Continue To Grow

China's foreign exchange reserves continued to strengthen with June being the fifth consecutive month of growth recorded this year, even though the growth rate was lesser than what market analysts had expected. Reserves were up by $3.2 billion in June

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Italy Saves Major Bank With €5.4Bn Taxpayer Funded Bailout

The Italian government has received approval from the European Commission(EC) to save yet another bank. A bailout package worth €5.4 billion will be used to salvage Banca Monte Dei Paschi di Siena SpA on the condition that the bank will

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Rate hike expectations keep Canadian dollar bullish

According to a survey conducted by the Bank of Canada, the business outlook reading for the second quarter increased to 31, from the prior reading of 21. The survey indicates that business activity is gaining momentum and the firms are

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