Category: Business

Georgia has been ranked as the No. 1 place to do business in the United States for eight consecutive years, but a recent report by News From The States reveals that the state’s workers are not reaping the benefits of its economic growth. The report, titled “Georgia jobs plentiful, but working in so-called No. 1 place to do business reported to be pitiful”, exposes the harsh realities of low wages,…

What is X? X is a social media platform that was formerly known as Twitter. It was acquired by Elon Musk, the founder of Tesla and SpaceX, in 2022. Since then, Musk has been transforming X into a “super app” that aims to offer a variety of features and services to its users. Some of the features that X has introduced or announced include: X Spaces: A feature that allows…

The COVID-19 pandemic has disrupted the world economy and posed unprecedented challenges for businesses of all sizes and sectors. Many companies have struggled to survive, while others have seized the opportunity to innovate and adapt. How can you future-proof your business and ensure its long-term success in the post-pandemic era? Here are some tips and insights from experts and entrepreneurs who have learned, grown and thrived in difficult times. Embrace…

The London Stock Exchange Group (LSE Group) is preparing to launch a new digital markets business that will use blockchain technology to offer extensive trading of traditional financial assets, according to a report by the Financial Times. What is blockchain and why is it important? Blockchain is a digital ledger that records and verifies transactions in a decentralized and secure way. It is the technology that underpins cryptocurrencies such as…

Correspondent banking is a vital service that enables cross-border payments and trade finance. However, it faces several challenges that threaten its efficiency and profitability. In this article, we will explore some of the main issues that correspondent banking is dealing with and how they can be solved. Regulatory Compliance and De-Risking One of the biggest challenges for correspondent banking is the increasing regulatory compliance and de-risking pressure. Correspondent banks have…

The Bank for International Settlements (BIS) has published a special chapter of its Annual Economic Report 2022, in which it presents a blueprint for a future digital monetary system. The BIS is an international organization that serves as a bank for central banks and fosters cooperation among them. The report explores the challenges and opportunities of digital innovation for central banks and the global financial system. The limitations of crypto…

Boom Logistics reports record revenue and profit for FY23 Boom Logistics Limited (ASX:BOL), an Australia-based industrial services company that provides crane logistics and lifting solutions, has reported its financial results for the full year ended 30 June 2023. The company achieved record revenue of $368.7 million, up 18.7% from the previous year, and record net profit after tax of $21.4 million, up 32.4% from the previous year. The company also…

China’s central bank announced on Friday that it will lower the reserve requirement ratio (RRR) for foreign exchange deposits by 2 percentage points, effective from Sept. 15, in a move to ease the appreciation pressure on the yuan. What is the RRR and why does it matter? The RRR is the proportion of deposits that banks must hold as reserves at the central bank. It affects the amount of money…

China cuts deposit rates and forex reserves to boost economy China is facing a slowdown that has rattled global markets, with the spotlight now firmly focused on the troubled developer Country Garden’s spiraling debt crisis in a sector that contributes to roughly a quarter of the economy. As pressure mounts, Chinese authorities have rolled out a series of measures to shore up the country’s faltering economy and revive the crisis-hit…