Merkel government has taken a bold step supporting the fleeing refugees. Recently, the German Chancellor has requested the other European countries to reopen their borders to ease the refugee pressure on Greece. Greece has requested for emergency financial assistance from other European countries.
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China's super regulator plan may merge banking, securities & insurance sectors
China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.
India to Infuse $3.65 Billion of Capital Into Government-Run Lenders
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
Tim Cook, FBI and the American Struggle between Right to Privacy and National Security
FBI chief, James B. Comey, has been reported to personally challenge Tim Cook stance. Tim Cook has been considering the battle as fight to secure privacy. Americans are historically sensitive towards government’s intervention over individual privacy. But the cause cherished by the common Americans is believed to prevail in the long run.
General Electric Mocked Startups, Proclaimed Itself as Tech Company
GE have been trying attract tech workers since last year. In its new Oscars ad, GE mock the startups and proclaim itself as a tech company and an industrial company.
Latest News
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.
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.
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 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.
Earlier this month, Chinese state-owned company ChemChina reached an acquisition deal of $43 billion with Swiss company Syngenta. After clearing regulation requirements in China, ChemChina is now seeking out loans of more than $35 billion from bankers to fund the purchase.
G-20 summit has been concluded with no major surprising outcome. Lack of strong commitments has helped Yen to gain some value against US dollar. However, on Monday, US dollar has regained some value. The appreciation has been analyzed as an outcome of positive US data which in turn is the consequence of Fed rate hiking.
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.
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.
