Demonetization really affects the sales of products.They decrease drastically.
Prime Minister Narenda Modi had scrapped off the Rs 500 and Rs 1,000 notes, hurting different sectors of the economy. The move resulted to decreased sales and slowed operations on sectors like automobiles, tourism, banking and e-commerce.
Samsonite saw strong sales in Asia, particularly China, in 2015. The company is not sure about 2016 outlook due to potential challenges, as it moves forward to boost presence in Asian markets.
Many speculates why Microsoft stops accepting Bitcoin as a mode of payment for purchasing apps in its Windows Store. Users became alarmed since they can no longer add Bitcoins to their account and existing balance can no longer be refunded. A Microsoft spokesperson apologized for the incorrect information and said that it will be taken care of.
The US dollar recorded a multi-year bull run and has still enough steam to gain 10 percent further this year. All eyes are on the two-day policy meeting of US Federal Reserve beginning from Tuesday as it will set the tone for US currency.
South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.
The US Dollar plunged to its worst single day drop outside of the 1998 and 2008 crisis today due to speculation regarding 'no rate hike' policy that the Federal Reserve might be implementing for this year. The plunged however, cause a reversal effect helping oil price to increase and help boosting Asian stocks.
The timeframe to this plan is still unknown, but the central bank claims that the process has been going on since 2014. China has stated some benefits for having a digital currency in their financial system, including transparency, digital track-recording, as well as reducing transaction costs. Bitcoin, a global digital currency, gained popularity in China in 2013 but has also brought some controversies about the risks.
Mike Hearn, one of Bitcoin's developer wrote on his belief that the digital currency has undergone some irreparable damage and that the end is in sight. He explained some complaints about Bitcoin which he believes to have no plausible solution. Bitcoin, on the other hand, has gained popularity among internet users although the system has triggered some controversies.
Oil price continue to crash the lowest level. The price was closed at the lowest in 12 years to nearly $30 and is expected to continue dropping.
The International group of governments and central bank governors from 20 major economies agreed Saturday to hasten slow growth, saying the low interest rates will not be enough to accelerate economic improvement, but they are optimistic that growth will happen.
The dollar fought back across the board on Thursday after posting its biggest daily fall in 18 months in the wake of a much more cautious Federal Reserve statement on interest rates than expected.
Ukraine's currency lost nearly 5 percent of its value on Monday after a weekend that saw the heaviest shelling in a month hit the main rebel stronghold in the east and signs that Moscow had dispatched troops and tanks to reinforce separatists.
itBit is a digital currency exchange that provides the latest platform for Bitcoind trading in differing currencies such as the US Dollar, Singaporean Dollars and in Euros.
Some say the Euro is overvalued while others claim it is not.
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