Athens, Greece: ZuluTrade, a Finvasia Group company, has won the ‘Best Social Wealth Management Platform’ award at Fox Expo Dubai. ZuluTrade was one of the handful of booths visited by the chief guest. Gentlemen Mr. Buti Saeed Al Ghandi (Director, Commercial Bank of Dubai and Vice Chairman, DWTC). The award marks another milestone for ZuluTrade, … Read more
Elon Musk decided to enter the social media business earlier this year by bidding on Twitter. However, he immediately faced strong opposition and became a villain. Court cases were opened against him and it became difficult to find Twitter, but in the end he got 44 billion dollars and went into the sink in his … Read more
Bharti Airtel’s Africa business reported a net profit of $152 million in the fiscal second quarter, down 21 percent from a year ago, dragged down by higher finance costs due to higher foreign exchange and equity losses. Net profit for the African business also fell 14.6 percent sequentially. Airtel Africa’s revenue for the quarter ended … Read more
China’s illegal money-laundering system, which controls foreign exchange, has been in place for decades. But now, including our own Jiangsu, a ¥200 million scam has been caught with some individuals who were operating in Shanghai and beyond. First, a little background. This reporter lived in Shanghai from 1993 to 2003. During this time, it was … Read more
MUMBAI: The Indian rupee fell against the US dollar in the forex market. The local currency opened at 82.89 against the dollar at the interbank foreign exchange rate. During trading, it then reached 82.91, registering a loss of 12 paise on the previous close. On Thursday, the Indian rupee settled at 21 paise against the … Read more
Mumbai: The Indian rupee rose against the US dollar. The positive trend in the Indian stock market and the weakening of the US dollar supported the local currency. The Indian rupee opened at 82.21 to the US dollar at the Indian Interbank exchange. It reached 82.08 during the trading session, a gain of 22 paise … Read more
decrease in India’s foreign exchange reserves According to Union Finance Minister Nirmala Sitharaman, it is mainly due to fluctuations in the value of the US dollar. He said this while addressing the International Monetary Fund Committee at the annual meeting of the World Bank and the International Monetary Fund (IMF) last Friday. “India’s foreign exchange … Read more
Germany and the Netherlands have proposed 10 measures the EU could use to cap gas prices and eliminate fuel rationing, including a new price adjustment for liquefied natural gas. The plan, seen by Reuters and shared with other EU countries before the bloc’s energy ministers met on Wednesday, calls for the EU to begin buying … Read more
Euro rate talking points EUR/USD trades to a new weekly low (0.9726) following a better-than-expected increase in US Non-Farm Payrolls (NFP) and US data releases such as the Consumer Price Index (CPI) may continue to weigh on the exchange rate. CPI) is expected to show sticky inflation. Recommended by David Song Get your free Euro … Read more
Eurozone retail sales fell in August, data showed on Thursday, pointing to weakness in consumer demand and a looming recession. Eurozone retail sales YoY: -2% (forecast -1.7%, previous -0.9%) The European Union’s statistics office, Eurostat, said that retail sales in the 19 countries that share the euro fell by 0.3 percent in the month, down … Read more