Search Results for: US authorities
Saudi Arabia reveals cuts plan to shrink $98bn budget deficit
December 29th, 2015
Sparked by plunging oil prices, the 2016 budget marks biggest shakeup in years and includes politically sensitive reforms Saudi Arabia has announced plans to cut government spending and reform its finances after plunging oil prices resulted in a record annual ...
Deutsche Bank to sell its stake in a Chinese Bank for Billions
December 29th, 2015
Deutsche Bank announced today that it has agreed to sell its entire 19.99% stake in Hua Xia Bank to PICC Property and Casualty Company Limited for a consideration of RMB 23.0 to 25.7bn subject to final price adjustment at ...
India puts brakes on Facebook’s Free Basics scheme
December 28th, 2015
Facebook‘s effort to provide Indians with free access to a limited number of internet services has run into trouble. India’s telecoms regulator has asked the mobile network that partnered with the US firm to put their Free Basics offer ...
The Cashless Society Cometh: European Nations Such As Sweden And Denmark Are ‘Eradicating Cash’
December 28th, 2015
Did you know that 95 percent of all retail sales in Sweden are cashless? And did you know that the government of Denmark has a stated goal of “eradicating cash” by the year 2030? All over the world, we ...
China Antiterror Law Doesn’t Require Encryption Code Handovers
December 28th, 2015
But law passed by rubber-stamp parliament Sunday still raises concerns about its scope and impact China passed a new antiterrorism law that stepped back from previous language of concern to global technology firms, but which still raises questions about ...
Analysis – Record highs predicted for bitcoin in 2016 as new supply halves
December 23rd, 2015
2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason – slower growth in the money supply. Bitcoin ...
Apple raises concerns over UK’s draft surveillance bill
December 22nd, 2015
Apple has raised concerns about the UK’s draft Investigatory Powers Bill. The proposed law aims to overhaul rules governing the way the authorities can access people’s communications. The US-based firm has passed on its thoughts to a parliamentary committee ...
Asian banks seen taking pole position in post-sanctions Iran
December 21st, 2015
Asian banks are expected to be among the first institutions to venture into Iran once sanctions are removed, with Western financial players remaining cautious for some time to come, banking officials said on Thursday. Iran and world powers reached ...
Saudi Arabia’s government is looking at smart, alternate revenue sources
December 21st, 2015
Saudi Arabia’s foreign reserves are a confidence booster but undoubtedly the government is looking at smart, alternate revenue sources that will not erode the country’s competitive advantage, say economists. Saudi Arabia has the financial depth to continue spending on ...
NBG absorbs Cooperative Bank of the Peloponnese
December 21st, 2015
The Cooperative Bank of the Peloponnese is heading toward a split between a “good” and “bad bank” as it is the only cooperative lender to have failed to cover its capital requirements. Its healthy side will be passed on ...
