Cryptocurrency bitcoin marks 10 years

LONDON, Oct 23 — October 31, 2008 marked the birth of bitcoin. Ten years on, the world’s first cryptocurrency is at the forefront of a complex financial system viewed warily by markets and investors. From its first evocation amid a global…

Bullish City of London stays confident as Brexit nears

LONDON: London’s powerhouse financial district fretted over a brain drain when the country voted for Brexit, but its leading players are now convinced of one thing: the City will win. Christopher Hayward is one of the nearly 500,000 Londoners who work in the City, Europe’s largest financial centre and a hub that traces its origins […]

PayNet to launch DuitNow money transfer service in December

KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) and some 14 banks are expected to offer DuitNow, a new electronic payment service that allows customers to transfer money securely and instantly using recipients mobile number. Bank Negara Malaysia is the single largest shareholder in the company and PayNet is supported by 11 major financial institutions […]

China shares leap 4pc on authorities’ pledges of support, tax changes

SHANGHAI, Oct 22 — China’s benchark blue-chip index surged over 4 per cent today, posting its best daily performance in almost three years, as investors piled into the battered market after coordinated statements of support by senior regulators….

PayNet to introduce e-payment service DuitNow in December

KUALA LUMPUR, Oct 22 — Payments Network Malaysia Sdn Bhd (PayNet) and some 14 banks are expected to offer DuitNow, a new electronic payment service that allows customers to transfer money securely and instantly using…

Europeans want Iran bank connected to world, French senator says

TEHRAN, Oct 22 — European nations are seeking to ensure at least one Iranian bank stays connected to the world after the US imposed new sanctions against the country, a French senator said in Tehran yesterday. The United States pulled out of a…

BoE reiterates confidence in preparations for the Brexit

Fundamental outlook THE Bank of England (BoE) reiterated its confidence its preparations against the impact of the Brexit. US building permit and existing home sales recorded a decline. China maintained that its GDP growth is still on track. US building permit rose 1.24 million in September, lower than the revised 1.24 million gains recorded in […]

Italy should not ignore damage to banks from soaring bond yields, official tells paper

MILAN, Oct 21 — Italy’s government should not ignore the problems that soaring government bond yields are causing for Italian banks, including possible capital needs, Cabinet Undersecretary Giancarlo Giorgetti said in a newspaper interview…

Full steam ahead for SMEs

As small and medium enterprises (SMEs) contribute more than one-third to Malaysia’s economy, it comes as no surprise that this segment continues to be recognised by the new government and private sectors as an important growth engine. According to Prime Minister Tun Dr Mahathir Mohamad, the Government is keen to increase the competitiveness of SMEs […]

China regulators deliver rare joint pep talk for worried markets

SHANGHAI: Three of China’s top financial officials launched a coordinated attempt to shore up confidence in the country’s stock markets and economic prospects on Friday in an unusual expression of top-level concern over what one of them called ‘abnormal’ share price falls. The timing of the rare intervention by the heads of the central bank, […]