Search Result for : Currency

The Dollar Business Bureau  To reinforce its control on its currency, China is “considering” a modification in its procedures that would help in bringing more stability to the country’s financial system in near-term. “We were “considering” a change in procedures that would reinforce our control of the renminbi, said Chinese officials. This move by Beijing would probably bring more stability in short-term to the country’s financial system, which has already been the subject of new focus after the credit rating agency Moody’s Investors Service on Wednesday downgraded China’s credit rating on bonds, mentioning its rising debt.  Moody's downgraded the country’s sovereign ratings to A1, stating it believes that the financial strength of the second largest economy of the world would erode in the coming years due ...

PTI The Trump administration has placed six of its major trading partners including China and Japan on a "monitoring list" to keep a close watch on their currency practices. It has placed China, Germany, Japan, Korea, Switzerland and Taiwan in the monitoring list in its six-monthly report to the Congress. "Treasury finds that six major trading partners warrant being placed on the monitoring list for special attention: China, Germany, Japan, Korea, Switzerland and Taiwan," the report said. The US Department of Treasury yesterday concluded that no major trading partner of the US met the Congressional standards for currency manipulation in the second half of 2016. Additionally, US Department of the Treasury established a "monitoring list" of major ...

PTI E-commerce giant Alibaba's founder Jack Ma has warned of a "big trade war" between China and the US under the new Trump Presidency if conflicts were not dealt properly. He said China's economic outlook will be "tougher than expected" due to continued slowdown of Chinese economy and warned. "In the coming three to five years... the economic situation will be even more arduous than everyone had expected," the e-commerce billionaire said at an annual meeting of the General Association of Zhejiang Entrepreneurs. Referring to the slowdown of the Chinese economy to 6.7% last year, the slowest in over two decades, he said it was "only natural" that China's rapid growth over the past three decades could not continue, and that ...

Sairaj Iyer ‘The Future of Black Money’, a panel discussion hosted by All India Association of Industries (AIAI) at the World Trade Center looked at alternative payment systems such as bitcoins and block-chain to curb the flow of black money. The panel discussed way beyond than the conversations one gets to have with the local baniya, laundry-man, or even newspaper vendors. A bitcoin for laymen is a cryptographically programmed digital currency format that gets validated from a central node. In simpler words, transactions can be efficiently tracked, making them visible across the length and breadth of the globe. Bharat Coins, a system currently mooted by experts would be using identification measures such as KYC and Aadhar ids to generate a unique transaction ...

Sheela Mamidenna ''Cashless India'' is a central idea to the Modi regime and nobody has been happier with this bumpy ride of demonetisation than the generation of young entrepreneurs whose business models revolve about e-commerce.   While we celebrate the prime minister's pet projects like 'Digital India'', the ground reality suggests that going cashless is not just about building infrastructure and convenience. It has a lot more to do with insecurities in the minds of people. An entire generation or more may pass by in the process of making this huge shift and mollifying security concerns. It is this huge mental block that new generation apps like Zebpay are up against. From the gold bullion to paper currency to bitcoins, change is inevitable. All it asks for is time. Sooner or later, ...

Sreenivasa Rao Dasari Demonetisation is not sparing any section of the society. With liquid currency, fast disappearing from the market, thousands of trucks in Telangana have been pushed off the roads throwing businesses out of gear. The air cargo segment too is feeling the heat of cash crunch which is severely affecting the foreign trade of Telangana and various businesses in the city of Hyderabad. The shortage of currency came as a bolt from the blue for the logistics industry as 50% of the trucks have suddenly become immobile. It is estimated that 10,000 trucks are operational under Hyderabad Goods Transport Association (HGTA), which makes it a business loss of over 70% to 1,000 transport companies.  The logistics business is out of gear, ...

The Dollar Business Bureau The Reserve Bank of India (RBI) said that it will soon start the circulation of new notes of Rs.100 denomination in the market with more identification features. “The Reserve Bank will shortly issue Rs.100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels," the Central Bank said in a release. The banknotes with '2016' as printing year will be in the same design as with the prevailing 100 rupee notes in the Mahatma Gandhi Series-2005, with an enlarged identification mark, and ascending numerals size in the number panels and bleed lines, on the obverse. The money regulatory authority said that it has already put the Rs.100 currency notes into circulation with ascending numerals size in the ...

Manish K. Pandey | The Dollar Business Amid all the hullabaloo over demonetisation of Rs.500 and Rs.1,000 bank notes in India and Donald Trump winning US Presidential Election 2016, one vital news that couldn’t dominate headlines was the ‘Indo-Japan Nuclear Deal’. It isn’t just another civil nuclear deal between two nations. Though India has signed similar deals in the past with other countries including France, US, Canada, UK, South Korea and Australia, this one with Japan is special. The exchange of papers makes India the first non-NPT (Treaty on the Non-Proliferation of Nuclear Weapons) nation to sign a civil nuclear agreement with Japan, a country which is the only victim of nuclear weapons and as such has always been wary of signing ...