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With Brexit, Iran tensions and likely global financial instability, the US dollar is far from down and out

Currency investors and traders have some tough decisions to make in the weeks ahead – the most pressing is whether they are intrinsically US dollar bulls or bears. The global economic landscape is changing, monetary policy expectations are up in the air and opinion is becoming extremely divided on the currency’s outlook.The dollar is the all-important driver of investor risk-perceptions and getting it right will be down to successfully negotiating some tricky upcoming hazards. With the world in… Source link

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Vietnam 

HCM City seeks to become global financial hub – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM City’s downtown at night. HCM City authorities want the city to become an international financial hub. — VNA/VNS Mạnh Linh HCM CITY — HCM City has committed to develop a detailed plan to turn the city into a regional and international financial hub after years of delay in carrying out the ambitious goal. Nguyễn Thiện Nhân, secretary of the city’s Party Committee, said: “There’s no better time to do it now.” As an international financial hub, HCM City, which contributes 45 per cent to the country’s GDP, would enhance socio-economic growth locally, nationally and…

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Endangered black rhinos come to the bond market in the world’s first financial instrument for species conservation

The planned sale of a rhino impact bond, aimed at growing the population of the endangered black rhino, is seen by its backers as a test for the creation of a conservation debt market that could be used for everything from protecting species facing extinction to preserving wildlife areas.The sale next year of the US$50 million bond, the first financial instrument for species conservation, is being run by the Zoological Society of London and Conservation Capital. The company was founded in Kenya… Source link

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Hong Kong as a financial centre could drown if ‘river water’ from China continues to rise

Former Chinese president Jiang Zemin famously said that well water and river water do not mix. Jiang’s point, made soon after the 1989 Tiananmen Square killings, was that Hong Kong shouldn’t try to pollute the mainland with ideas about democracy. Cadres from up north, in turn, wouldn’t try to inflict communism on postcolonial Hong Kong. Of course, the idea that Hong Kong would be as separate from China after 1997 as it was during British colonialism was never realistic. Now, although Hong Kong… Source link

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Vietnam 

Việt Nam to build database for financial research – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Participant pose for a group photo at the 11th Asia-Pacific Conference in 2019 held yesterday at HCM City’s Tôn Đức Thắng University. — VNS Photo Bồ Xuân Hiệp HCM CITY — The financial industry in Việt Nam should build databases on businesses and economic indices to facilitate academic research and participation in the global financial market, speakers said at an international conference held yesterday in HCM City. More than 300 educators, researchers and practitioners are taking part in the three-day 11th Asia-Pacific Conference 2019 to discuss global financial issues in the region. Dr Võ Văn Lai, lecturer at Tôn Đức Thắng University, said…

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Messaging firm Symphony says bots to dominate financial sector communications within two years in automation wave

Symphony Communications Services, a Silicon Valley messaging start-up used by some of the world’s biggest financial-services companies, expects robot-driven traffic on its platform to surpass human initiated use within two years.A wave of workflow automation is expected to speed up transaction and regulatory compliance procedures, and reduce human errors and costs.“With stronger regulatory compliance requirements everywhere … the typical response is, let’s have more people give approval before… Source link

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China 

China will not turn to global financial crisis stimulus playbook to offset US trade war, says Beijing adviser

China will not introduce another “giant stimulus programme” similar to the one seen during the 2008 global financial crisis to offset the ongoing trade war with the United States and its weakening economy, according to a leading Chinese government researcher.Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, an important think tank under the Ministry of Finance that advises Beijing on fiscal policy, said that instead, Beijing, will rely on tax reductions and budget management reform,… Source link

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Vietnam 

Việt Nam, UK share experience in financial industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnamese Minister of Finance Đinh Tiến Dũng (left) on Wednesday meets UK Chancellor of the Exchequer Philip Hammond on his working trip to the UK. – VNA/VNS Photo Diễm Quỳnh  LONDON –The United Kingdom is willing to provide assistance to increase the efficiency of the Vietnamese economy, and intensify co-operation on preventing money laundering, Chancellor of the Exchequer Philip Hammond said on Wednesday. Hammond made the statement when receiving Vietnamese Minister of Finance Đinh Tiến Dũng who is leading a delegation from the finance ministry and the State Securities…

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Vietnam 

Việt Nam needs financial leasing firms so SMEs can develop – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Economic expert Nguyễn Trí Hiếu According to Việt Nam Chamber of Commerce and Industry (VCCI), up to 70 per cent of small- and medium-sized enterprises (SMEs) have had difficulties in getting loans due to not meeting the requirements of lenders. Financial leasing companies are considered as a good solution at present. Economic expert Nguyễn Trí Hiếu speaks to the Vietnam News Agency about this issue. SMEs need capital and banks have also offered many preferential credit packages to attract businesses, but supply and demand are still difficult to balance.…

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Global 

China Premier promises ‘faster’ financial opening up to foreign investors days after agreeing US trade war truce

China will scrap foreign ownership caps in the domestic financial industry from 2020, a year earlier than previously expected, Premier Li Keqiang said on Tuesday, in a fresh gesture to woo foreign investors, just days after agreeing another truce in the year-long trade war with the United States.Li did not directly mention the US or the trade war in his speech to the “Summer Davos” forum in Dalian on Tuesday, but said China will open its markets wider to foreign investors, while also repeating… Source link

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