US Fed Announces Emergency Rate Cut, Hong Kong Follows Suit
The monetary authority of Hong Kong followed the footsteps of the US Federal Reserve and slashed the base lending rate by 50 basis points today. Notably, on Tuesday, the US Federal Reserve announced an emergency interest rate cut to negate
Read MoreJapan Manufacturing Sector Contracts the Most in Four Years
In the fourth-quarter of fiscal 2019, Japanese enterprises slashed their investment on equipment and plant, while the manufacturing sector shrank the maximum since 2016. Production volumes were negatively impacted by delays in input deliveries and drop in demand in February.
Read MoreIndia Records Slowest Economic Growth in 6yrs
In the quarter ended December, India recorded its slowest rate of economic growth in six years and the near-term outlook remains gloomy as coronavirus spreads across the globe. The country’s GDP rose by 4.7% in October to December quarter, according
Read MoreNew Zealand Retail Sales Volume Edges Upwards by 0.7% in Q4
The data published by Statistics New Zealand indicated that the total volume of retail sales in New Zealand increased by a seasonally adjusted 0.7% q-o-q in 4Q19. The reported figures were slightly below economists call for an increase of 0.8%
Read MoreUK Tax Office Clarifies Crypto Position And New Tax Laws
Her Majesty’s Revenue and Customs (HMRC) office, the top office for taxes in the UK, recently released its new guidelines for cryptocurrency taxation. They will apply to both individuals and businesses. This is a major move by the office since
Read MoreAussie Net Worth Falls In Global Wealth Report 2019
Australia is a bit poorer now as the net worth of the Australians has fallen significantly. This is mostly because of the decline in the Australian dollar and the weak Australian market. The average wealth of Australian adults is now
Read MoreCBR Looking At FX Trading Loopholes By Payment Providers
The Bank of Russia continues its crusade against forex trading and is now taking a shot at payment providers. The central bank has identified 140 companies that it says illegally offer forex trading to Russian consumers. This continues the war
Read MoreIreland Grants Coinbase An e-Money License To Operate In The EU
Brexit hasn’t affected the fintech industry in the United Kingdom as much as the financial sector. These concerns have also hampered cryptocurrency companies who have considered moving out of the UK to mitigate these risks. Coinbase which has its non-US headquarters in London recently announced
Read MoreChina’s Removal of QFII & RQFII Caps Will Not Impact FX Market
Foreign investors who wanted to pump money into China were earlier limited by the qualified foreign institutional investors (QFII) scheme and the renminbi qualified foreign institutional investor (RQFII) program. These two restrictions turned out to be a big hurdle in
Read MoreJapan’s LINE Launches Crypto Exchange With 5 Currencies
If there is anything that encourages people to use cryptocurrencies, it is being able to access it more easily. With the opening of Line’s new BitMax crypto exchange, there is a bigger chance for cryptocurrencies to be accepted more freely
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