Central Reserve Bank of Peru is increasing local currency bank reserve requirements (reserve ratio) to support its weakening currency Nuevo Sol. The capital reserve ratio will be one percent from March 206 onwards from existing 0.75 percent.
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Fintech Startup Will Change Global Finance as Regulators Closely Watch
Year 2015 was dubbed as year of fintech. As financial technology startup companies flourish and gain huge fund. Global regulators are closely monitoring the fintech startups and will propose rules to regulate them.
Mobile phone firm Telstra supports external funds to invest in Asia
Telstra is backing up external venture capital funds to seek investments in Asia. The company is focusing more on technology investment in Asia as it experiences a drop in the viability of internet services and phone calls.
The Biggest Bank in Norway Heads European Central Bank in Launching Monetary Stimulus in Euro Zone
European Central Bank (ECB) is expected to launch monetary stimulus next month to help banking system in euro zone. Norwegian's biggest bank DNB ASA supported the effort as stated by its chief of asset management.
Greece Recalls Its Ambassador in Austria Over Migrant Dispute
Greece recalled its ambassador from Austria, following Austria's decision to close its border for migrant. While majority of people are not satisfied with government's way in handling economic crisis.
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Britain's exit from the European Union will have a negative impact on the economy of the country, according to officials. The UK prime minister pledges to negotiate a better agreement for the nation in the union.
The Japan Finance Ministry is organizing a seminar for women covering the topics on the country’s fiscal policy. Women’s fashion magazine editor-in-chief Hiromi Sogo will serve as one of the six female speakers encouraging women to take a more active role in the country’s economy.
China has been widely criticized for strict cyber laws. On Sunday, the communist government has mulled its legislative power to impose ban on accounts of former Chinese tycoon, Ren Zhiqiang. While around 40 Chinese journalists have been confined in jail as victims of tougher cyber laws, the communist government is going to enact further tougher laws on March 10.
SpaceX aborts its third attempt to launch its Falcon 9 rocket, which is designed to land its booster on a platform, making spaceflight more affordable. The abrupt scrub, just seconds before the liftoff, was due to an unexpected delay that caused the fuel to fail.
With the release of the yearly budget many are hopeful that their lives will change for the better especially for those who live in the rural areas. The allocated budget focuses mainly on the agrarian sector, health and social and infrastructures that could help alleviate sufferings and give comfort for the less fortunate.
According to Indra Nooyi, the ongoing global economic slowdown threatens economic recovery in the US. The oil market combined with political turmoil creates an economic pressure in the nation.
Flipkart’s Efforts For Raising $1 billion Fund In Limbo Since Morgan Stanley Down Marks Asset Values
Mutual funds have recently slashed the value of Silicon Valley startups. Marking down of Flipkart share price and valuation by Morgan Stanley has appeared as a great jolt for Flipkart. The Indian largest ecommerce retailer is expected to witness hurdles in raising its planned $1 billion fund following the Morgan Stanley move.
Following CDC announement of the risk of carcinogen in its product, the company's stock plunged since last week. Lumber Liquidators is trying hard to win back trust from customers and investors.
Opportunity Network introduces its eligible anonymous members in its platform to facilitate deals. The membership subscription fees generate sufficient revenue to grow the networking site up to a valuation of $150 million. Surprisingly, the network startup has grown up to a valuation of $150 million from $100 million in just a year without any fund from VC.
