Top earning bankers move to EU from Britain ahead of Brexit
Nearly a hundred highly paid bankers left Britain ahead of its departure from the European Union. The European Banking Authority (EBA) said in its annual survey of bankers earning a million euros ($1.17 million) or more a year that Britain saw a drop of 95 high earners in 2019. The country still accounted for 71% of the 4,963 bankers […]
Dollar stands tall as Covid stalks kiwi
The dollar hit a nine-month high against the euro. The euro touched $1.1702 early in the Asia session, its lowest since November 2020, before recovering slightly to $1.1718. The kiwi, that was heavily sold, fell further to also make a nine-month trough at $0.6868 after the Reserve Bank of New Zealand held off on raising rates amid […]
Activist hedge fund Starboard hires analyst from Blackrock’s stewardship team
Activist investor Starboard Value LP poached an analyst from asset manager BlackRock’s investment stewardship team. And that exerts great influence on issues such as climate change and board makeup that often are critical to the hedge fund’s campaigns. Starboard hired Mack Abbot, a vice president at BlackRock who worked for the world’s largest asset manager […]
Goldman Sachs to buy Dutch asset manager NNIP for around $2 BLN
Goldman Sachs said that it will buy Dutch insurer NN Group’s asset management arm for 1.7 billion euros ($1.98 billion) in the biggest acquisition by the U.S. company since David Solomon became chief executive in 2018. The deal is part of Solomon’s strategy to make the bank’s revenue stream less reliant on earnings from trading and […]
Sri Lanka becomes first in Asia to tighten policy in pandemic era
The Central Bank of Sri Lanka (CBSL) became the first in Asia, to raise interest rates since the pandemic began. The central bank increased the standing deposit facility rate and the standing lending facility rate by 50 basis points each to 5% and 6%, respectively. It also increased the statutory reserve ratio by 200 basis points to 4% with […]
How AI can help transform the debt collection lifecycle with the customer in mind
Over the last year, a lot of industries have had to rethink their strategies to adapt to the changing times onset by the pandemic. With focus increasingly turning to customers’ needs, the finance sector was one of said industries. COVID had a disastrous effect on the global economy. Regulators have had to be aware of […]
Covid fueled semiconductors crunch chips away at carmakers
In grim warnings, major carmakers including Toyota and Volkswagen offered fresh evidence that the auto industry remains firmly in the grip of an ongoing semiconductor chip shortage that shows no sign of abating. After being forced to close plants in this pandemic took hold, carmakers are now facing stiff competition from the sprawling consumer electronics […]
Tackling middle east cybersecurity threat to meet data sovereignty rules
Throughout the Middle East, the influence of digital transformation on social infrastructure, public services and the financial sector has transformed citizen’s lives, but the flipside to this is an increased exposure to cyberattacks. In June of last year, the UAE’s National Computer Emergency Response Team repelled more than 100,000 cyberattacks against Federal Government entities in […]
Cisco’s profit forecast disappoints on supply chain overhang
Cisco Systems Inc’s first-quarter profit forecast fell short of estimates, with the network gear maker warning that supply chain issues would continue to drive up component costs and delivery backlogs. Businesses across the globe have been facing an unprecedented semiconductor shortage that has inflated costs of even the cheapest parts, hurting companies like Cisco which use […]
Indorse launches NFT vision Hack
An online hackathon focused on non-fungible tokens (NFTs) is offering more than $70,000 worth of prizes and grants to participants including software engineers, graphic designers, NFT creators, game developers and digital artists. This is a free to enter NFT Vision Hack. And it is organized by Indorse, Nifty Labs Gibraltar and Coinsilium. The use of NFTs has exploded in […]