Asia curbs sales growth at Kering’s Gucci
French luxury group Kering’s star fashion brand Gucci grew sales by just 3.8%. This happened just in the third quarter. The pace of recovery from the pandemic has slowed down sharply, particularly in Asia. Luxury goods groups have bounced back strongly from the fallout of this Covid. This is because people across the world are […]
Bank of England expected to keep rates steady
Britain’s central bank looks set to keep interest rates steady. This is because, it approaches the end-point of its 895-billion-pound asset purchase program. They are casting a wary eye over surging inflation pressures. Investors will be keen to see if more Monetary Policy Committee (MPC) members join external member Michael Saunders. The BoE is ahead […]
Dividend’s payment policy extended to year end
Israel’s banking regulator extended until the end of the year a temporary provision. This will allow the banks to resume paying dividends. All these is because of the pandemic situation, and the country is under recovery right now. The Bank of Israel maintained its advisory to cap dividends at 30% of 2020 and 2021 profits. A higher figure at […]
COVID increasing money laundering risks
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the pandemic. This includes money-laundering and terrorism financing. The use of unlicensed money service providers for money laundering has increased during this pandemic, as per the report. And also, the use of e-commerce to launder money. It also stated that the widespread […]
COVID hitting timing of Basel bank capital rules
Countries are facing challenges in rolling out final elements of tougher global bank capital rules. A senior Bank of England official said that this may need to coordinate on timing. The rollout of the rules known as Basel III began after the global financial crisis. This had highlighted how banks were holding too little capital by forcing taxpayers to bail […]
BOJ policymaker warns of uncertain recovery
Bank of Japan board member Toyoaki Nakamura has been warned of risks to the economic outlook because of the recent resurgence in COVID infections. They also gave a hope that consumption will get boosted, after the households feel safe to start spending. Nakamura said that the world’s third-largest economy is expected to recover. Because the […]
An effective payments strategy is key for travel agents post Covid
This pandemic has affected many areas of industries. Among that, the travel has been hit the hardest. The crash in international tourism due to this pandemic could cause a loss of more than $4 trillion to the global GDP for the years 2020 and 2021. This was according to a recent UNCTAD report. Now as the […]
Banks can lead by example to customer centricity
The Covid pandemic created numerous changes for banks across the world. As challenger banks and fintech providers remain ever hungry for the consumer’s attention, it is a pivotal time in traditional banking history. Enormous challenges are now being faced by the banks. Those are such as how to capture market share and then to retain […]
New Zealand holds rate at record low as fresh Covid outbreak strokes uncertainty
New Zealand’s central bank left interest rates unchanged at a record low of 0.25%, as policymakers quickly shifted gears after the country was put into a snap lockdown following the detection of new coronavirus cases. The economy is running red-hot and a majority of economists polled by Reuters last week had expected the Reserve Bank […]
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 […]