Zloty set to pace FX gains
The zloty has further space to climb, even after a rally. As chances grow that Poland’s central bank will begin lifting interest rates sooner rather than later, this was reported by the media. The Polish currency is lagged peers in central Europe in 2021. Meanwhile, the Hungarian forint and Czech crown are leading. This is […]
Global Stock Benchmark at new high
Big tech shares edged higher by helping a benchmark world stock index post. This is a sixth consecutive closing high, after a weak U.S. jobs report. Labor Department data that showed wages increasing more than expected in August. This in turn had raised inflation fears, leading longer-dated Treasury yields to jump. MSCI’s all-country world index, […]
Australia job ads fall in August
Australian job advertisements slipped in August. This is because of the coronavirus spread from Sydney to Melbourne and Canberra. Mainly, the drop was also minor, when compared to the losses in the first stage of this pandemic. Job ads fell 2.5% in August from July. The labour market was recovering from a national pandemic lockdown, […]
Collaboration of Key Sight and Media Tek
Keysight Technologies is a leading technology company which is delivering advanced design and validation solutions. This is to help accelerate innovation to connect and secure the world. They made an announcement that it has collaborated with MediaTek, with the aim of achieving 6Gbps data throughput speeds by aggregating three 5G new radio (NR) carriers (3CC […]
Wealth Management industry to gain from AI
Wealth management sector of UK is experiencing a significant growth in recent years. They are handling around £948bn of assets, which are equivalent to about 46% of the UK GDP. The financial institutions and wealth management firms are looking to be early adopters of the latest AI technologies. Wealth management is a data-rich industry, in […]
AI and machine learning against money launderers
Australia’s banks process more than 13 billion cashless transactions over every year. This indicates that, more than 35 million transactions every single day is being made. Within this the criminals hide illegal transactions and launder money by concealing their activities. Similar to how cyber attackers, money launderers are nowadays exploiting the sheer volume of transactions […]
Hungary handled FX spread dispute in loan repayment case
The European Union’s top court ruled out that the Hungary was not unfair to borrowers in the exchange rate it set in repaying loans denominated in foreign currency. This is by rejecting a demand to invalidate such agreements. The issue of foreign currency loans weighed on Hungarian borrowers and banks in the last decade. This is because […]
EU can take months on euro clearing
The European Union will take months for deciding if banks can continue clearing derivatives in London. The EU’s financial services chief said that in a sign of how Brussels is keeping up pressure to shift business to Frankfurt. A European Commission working group looked at how trillions of euros in interest rate swaps could be shifted from London […]
Australia’s top 5 banks assessing climate risks
Australia’s financial regulator outlined details of a climate vulnerability assessment (CVA) that is being undertaken by the country’s top five banks. This is to assess exposure to climate risk, and their response to different scenarios. With the increasing weather-related disasters, taking many lives, the regulators and central banks are looking to ready companies and financial systems to […]
Japan’s service sector activity contracted
The Covid resurgence gave a blow to the Japan’s economy. Hence, Japan’s services sector activity contracted at the fastest pace in over a year. Activity and new business inflows shrank at the fastest pace since May last year. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) plummeted to a seasonally adjusted 42.9 from July’s […]