DeFi crime hits record high in first 7 months of 2021
Losses from theft, hacks, and fraud in decentralized finance or DeFi, a thriving segment in the cryptocurrency sector, hit an all-time high in the first seven months of the year is shown by a report from crypto intelligence company CipherTrace. But losses from crime in the overall cryptocurrency market dropped sharply to $681 million at […]
China’s July new yuan loans expected to nearly halve from June
China’s new yuan loans are expected to fall back in July after record lending in the first six months. But are still likely to be higher than a year earlier, because the central bank seeks to underpin the country’s economic recovery. Chinese banks are estimated to have issued 1.20 trillion yuan in net new yuan […]
Digital ticketing: the challenges and opportunities facing PTOs and PTAs
Transport ticketing has rapidly evolved in the digital age. Today, passengers can use a smartcard or even their phone as their ticket, utilizing contactless and Near Field Communication (NFC) functionality to tap-and-go. This proliferation of digital ticketing has only been further accelerated over the last 18 months. This pandemic has presented Public Transport Operators (PTOs) […]
England changes Covid – 19 app so fewer people need to isolate
Britain’s health ministry said that the England’s COVID-19 mobile phone app will be tweaked so that fewer contacts of asymptomatic people who test positive for the disease will need to self-isolate. Business leaders have raised concerns about the numbers of staff who are having to self-isolate after being pinged by the app when they come […]
Sterling steady above $1.39 before Bank of England meeting
Sterling steadied around $1.39 against the dollar, buoyed by risk sentiment in markets, optimism over the outlook for COVID in Britain and some anticipation of a hawkish turn from the Bank of England when it meets. Britain’s pound has rebounded after most lockdown measures in England were dropped on July 19. After that it has stayed mostly […]
AIB becomes first Irish lender to kick off Covid – 19 writebacks
Allied Irish Banks (AIB) became the first Irish bank to unwind provisions on bad loans related to the COVID-19 crisis. This is after its first half return to profit included a net credit impairment writeback of 103 million euros. The bank posted a half-year pretax profit of 291 million euros ($345.62 million). Ireland’s other dominant lender, Bank of Ireland, took a further […]
Cloud migration in many organizations
If not planned or understood there can be many pitfalls to cloud migration. Virtana’s recent State of Hybrid Cloud survey is evidence of this, with 7-in-10 (72%) of the 350 IT professionals surveyed stating that they have had to move workloads back to on-premises, after migrating to the public cloud. And such a high number […]
How automation can drive ESG in banking and financial services
Regulatory bodies and shareholders alike are ramping up the pressure on financial institutions. This ramp up is to prioritize environmental, social and governance (ESG) initiatives. With the growing importance of corporate social responsibility, ESG program can’t purely be a public relations exercise true commitment and compliance is now crucial to success. The adoption of such […]
Britons hesitant to write will
Creating a will is admittedly, a depressing prospect. However, it is a necessity to ensure that one’s friends and families are amply supported after they pass away. Particularly throughout the pandemic, Britons have been made aware of the importance of having these documents in place. Indeed, recent research from YouGov indicated that although the vast majority (82%) […]
Apple works with Chinese suppliers for latest iPhones
Japan’s Nikkei newspaper said that Apple Inc is working with more Chinese suppliers to produce its latest iPhones. This is as a tech feud stemming from a trade war with the United States prompts Beijing to strengthen domestic firms. The iPhone maker has warned of supply shortages as the U.S.-China trade tensions. The pandemic has […]