fbpx

Business

What investing lessons did the second COVID year teach us?

(CU)_Once again, we are entering a new year with the pandemic making headlines, as the Omicron variant of COVID-19 continues to push global fatalities to record levels. However, unlike last year, we are entering 2022 with a better understanding of what the virus means for businesses and economies. Early in the pandemic, many believed that this was a China problem. In the first week of February 2020, Goldman Sachs famously said its impact on global economic growth would only be a “modest hit to annual-average global GDP” between 0.1 and 0.2 per cent. In the case of...

One of Europe’s largest fintechs accuses Australian banks of anti-competitive behaviour

LONDON (CU)_One of Europe’s largest fintechs has accused Australian banks of anti-competitive behaviour, amid investigations launched by the Council of Financial Regulators in response to “debanking” concerns raised by the Treasury and the Australian Transaction Reports and Analysis Centre (AUSTRAC). The trend of banks closing bank accounts of digital currency exchanges, money transfer firms and financial technology businesses is termed as debanking. Although some of the major...

Financial services conglomerate acquires IOB’s education loan portfolio at 60% discount

MUMBAI (CU)_Over the recent years there has been a hike in defaults in education loans in India, which was further aggravated by amid the pandemic. According to bankers, many students have dropped out over the past couple of years after colleges started online education, while some of them have been unable to secure jobs as many companies stopped hiring on account of uncertainties linked to COVID-19.

Experts liken London stock market to a Jurassic Park, but the City’s status could brighten in 2022

LONDON (CU)_Over the recent years, London's stock market has been severely criticised amid struggles to attract and retain growth companies which excite investors and build the 21st-century economy that rewards innovation. Currently, technology only makes up about 2 per cent of the market, in stark contrast to 20 per cent across global markets. Commenting on these figures, the chief economist of Panmure Gordon, Simon...

Looking at oil and gas stocks? Canada is the place to be

TORONTO (CU)_As the pandemic appeared to recede and economies began reopening, prior to the newly discovered Omicron variant of the Coronavirus, oil prices rebound by more than 50 per cent in 2021. After a string of difficult years for those invested in the oil and gas business, energy stocks reported an overall surge last year, positioning itself as the best sector in the S&P 500 Index and...

CW Fin-Tech Toolkit Unravelling potentials of FinTech in CW

Apart from imparting knowledge on Fin-Tech, the CW Fin-Tech Toolkit offers much-needed guild lines for the CW countries to formulate policies that would bring about inclusive progress, while overcoming barriers imposed by the conventional monetary systems in member nations. Exponential expansion of the Digital financial services (DFS) would help service providers to overcome the conventional barriers that virtually leave 3.5 billion people underserved or...

ANZ issues an apology to overseas investors

AUCKLAND (CU)_In August 2020, the Australia and New Zealand Banking Group (ANZ) decided wind-up its Bonus Bonds scheme is the largest fund closure in New Zealand history, with a whopping $3.25 billion was due to be handed back to investors at the time. Investors were expected to be paid back in October, but the programme was delayed as a result of several challenges, but was able to...

Indian-American epidemiologist becomes the Health Commissioner of New York city

New York, USA (CU)_ New York City Mayor-elect Eric Adams revealed the name of New York City’s new health commissioner. He stated that the current health commissioner of the city, Dr Dave A. Chokshi, will remain in his position...

AIA to sell part of its Australian assets

Sydney, Australia (CU)_ According to the media, AIA Group Ltd (AIA) is planning to sell part of its life insurance assets in Australia to Resolution Life. According to close sources familiar with the subject who requested anonymity, the plan...

Blue Cross Life achieves milestone success in Canada

Ontario, Canada (CU)_ Blue Cross Life, being a federally regulated corporation, functions in every province throughout Canada. In Canada, the Blue Cross brand has been recognized for affordable, high-quality supplemental benefits for organizations and individuals for over seven decades....

Aditya Birla Sun Life Insurance introduces the ABSLI Secureplus Plan

Mumbai, India (CU)_ The life insurance arm of Aditya Birla Capital Limited (ABCL), Aditya Birla Sun Life Insurance (ABSLI), has introduced a new edition of its new-age savings solution, namely, ABSLI SecurePlus Plan. This plan was created with the...

Honouring a historical occasion… British Hallmarking Council sanctions commemorative mark

LONDON (CU)_The British Hallmarking Council (BHC) is the non-departmental public body responsible for supervising hallmarking in the United Kingdom. Historically, commemorative marks have been produced to signify a special event, providing a particular point of interest for the jewellery...

Nigeria urges health facilities to join MLSCN laboratory accreditation program

Abuja, Nigeria (CU)_ The Federal Government asked all federal tertiary institutions, Federal Medical Centers (FMCs), and Federal Specialist Hospitals throughout the nation to enroll in the Medical Laboratory Science Council of Nigeria (MLSCN) certification program to ensure the accuracy...

Japanese real estate giant joins fellow developers making inroads into the Australian market

SYDNEY (CU)_Over the recent past, a string of Japanese property developers like Daiwa House, Asahi Kasei and Kajima, have made inroads into the Australian market. They will now be joined by a real estate giant who has made a...

Residents of Ogun State now have the opportunity to own a home!

ABEOKUTA (CU)_Several senior executives of the FCMB Group, led by CEO  Ladi Balogun, paid a visit to the city of Abeokuta, and met with the governor of Ogun State, Dapo Abiodun. During the visit Balogun revealed that the financial...

Demand for new mortgages remained strong last year, but a slowdown is on the cards for 2022

WELLINGTON (CU)_Demand for mortgages in New Zealand remained strong over the past year, with lending on home loans reaching $9.08 billion in November, according to latest figures published by the Reserve Bank. While this figure was slightly below the...

Vancouver based think-tank makes an eyebrow-raising proposal to tackle Canada’s housing crisis

VANCOUVER, B.C. (CU)_When the pandemic began in March 2020, Canada's housing market went ice cold, before it soon came roaring back to fire last year. According to recent figures, average prices across the country reached…

Rohingya camp fire leaves thousands of refugees homeless!

Dhaka, Bangladesh (CU)_ According to the latest police report, thousands of refugees have been displaced following a massive fire that destroyed portions of a Rohingya refugee camp in Bangladesh. Around 850,000 individuals of the persecuted Muslim minority reside in...

Greater Noida Industrial Development Authority announces new facility for allottees

GREATER NOIDA, Uttar Pradesh (CU)_The Greater Noida Industrial Development Authority (GNIDA) this week became the first in the state to implement a system known as enterprise resource planning (ERP). It is a software provided by IT firm Tech Mahindra,...

You can’t avoid maintenance fees if you buy a condo, but you can reduce the risk of nasty surprises down the road

MARKHAM, Ontario (CU)_Unlike other residential properties, those own condos must pay a monthly maintenance fee, in addition to a mortgage and property taxes. This fee usually covers costs incurred on the building's operations, like cleaning, security and some utilities,...

Canada’s hardest hit province to impose health tax on the unvaccinated

MONTRÉAL (CU)_The Canadian province of Quebec, which has reported the higher number of COVID-related deaths in the country, is currently struggling with a surge in infections on account of the omicron variant of the Coronavirus. Although less than 13...

Quebec to tax unvaccinated Canadians

Ontario, Canada (CU)_ Quebec, the Canadian province, is planning to levy a health tax on citizens who are not immunized against Covid-19. Quebec, which witnessed the most Covid-related fatalities in Canada, is now experiencing a severe outbreak, as the...

Realtors seek much-needed impetus to realise the dream of Housing for All

NEW DELHI (CU)_The Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body of private real estate developers in the South Asian nation. The group recently wrote to the Finance Ministry, recommending several measures which are...