Category: Business

China’s central bank has issued an informal directive to some of the country’s largest lenders, asking them to refrain from immediately squaring their foreign exchange positions in the market, and to run open positions for a while in order to alleviate downside pressure on the yuan, according to two sources with knowledge of the matter. What is the directive and why is it issued? As part of this informal “window…

The Odisha Government has taken a major step to enhance the financial inclusion and accessibility of banking services in the state. On Wednesday, September 14, 2023, the government signed a Memorandum of Understanding (MoU) with six public sector banks to provide banking services in all unbanked panchayats of the state through Customer Service Point (CSP) outlets. The scheme and its benefits The scheme, which was approved by the Odisha Cabinet…

Valuation-adjusted data show steady demand According to a recent article by The Globe and Mail, central banks and reserve managers around the world have continued to buy U.S. Treasuries despite the volatility and uncertainty in the bond market. The article cites valuation-adjusted data from Fed economists Carol Bertaut and Ruth Judson, which show that central banks’ holdings of Treasury securities have rebounded from a 10-year low in October 2020, and…

New report finds UK’s domestic development banks lagging behind European Investment Bank A new report by the thinktank UK in a Changing Europe has found that the UK’s public sector lenders created by the government since Brexit are investing two-thirds less than the UK was receiving from the EU’s European Investment Bank (EIB) . The report compares the record of the EIB, which backed UK projects ranging from the Channel…

Goldman Sachs Group Inc. has fired several executives in its transaction banking unit, including the head of the business Hari Moorthy, for violating the firm’s communications policy, according to a memo seen by Reuters on Wednesday. Policy violation and non-cooperation The memo, written by Goldman Treasurer Philip Berlinski, stated that the individuals violated the firm’s communications policy, which requires employees to communicate about firm-related business on firm-approved channels. The memo…

DCM Plumbing, a leading plumbing service provider in the Gold Coast, has been announced as a finalist in the 2023 Australian Trades Small Business Champion Awards. The prestigious awards recognise the achievements and contributions of small businesses across various industries in Australia. A Cornerstone in the Gold Coast Plumbing Industry DCM Plumbing has been operating in the Gold Coast for over 20 years, providing reliable and high-quality plumbing services to…

Texas is one of the few states in the US that has a deregulated electricity market, where customers can choose from a variety of retail electricity providers (REPs) to supply their power needs. REPs are companies that buy wholesale electricity from generators and sell it to consumers at retail prices. REPs also offer different plans, rates, and incentives to attract and retain customers. However, the electricity market in Texas is…

Consulting is a lucrative and rewarding career option for many professionals who want to leverage their expertise and help others solve problems. However, starting a consulting business is not as easy as it may seem. It requires careful planning, market research, branding, networking, and constant learning. Here are five ways to launch a consulting business in 2024 that can help you achieve your goals and stand out from the competition.…

Citigroup, one of the largest banks in the world, announced a major reorganization on Wednesday that trims management layers, giving CEO Jane Fraser more direct oversight over its businesses as she aims to boost its profit and share price. New Leaders for Five Core Businesses The reorganization involves creating five core businesses that will report directly to Fraser: services, markets, banking, wealth, and U.S. personal banking. These businesses will be…

YES Conference Highlights Ukraine’s Potential and Challenges Last week, the Yalta European Strategy (YES) Conference took place in Kyiv, bringing together Ukrainian and foreign political and business leaders, including President Volodymyr Zelensky. The theme of this year’s conference was “The Future is Being Decided in Ukraine”, reflecting the country’s pivotal role in the region and the world. The conference was held in the basement of Kyiv’s Intercontinental Hotel, creating a…