India And UAE To Collaborate On Developing Digital Currencies
According to an announcement on Wednesday, India and the UAE will collaborate on developing digital currencies.
Rupee Closer To Replacing Dollar As 18 Nations Agree To Trade In INR
India’s Minister of State for Finance, Bhagwat Karad, informed parliament that the rupee was closer to replacing the dollar as 18 nations agreed to trade in INR.
India’s Digital Transactions More Than That Of US, China, Europe Combined
A senior trade official today said that real-time digital transactions that India does are more than that are done in the US, China, and Europe put together.
$100BN Wiped Off US Banking Market In Single Day As Former White House Adviser Calls It ‘Tip Of The Iceberg’
A former White House adviser described it as the “tip of the iceberg” as the US banking industry lost $100BN in a single day. The Big Four were affected by the SVB collapse contagion, and regional banks fell by up to 60% during the bloodbath on Wall Street.
HSBC Acquires Silicon Valley Bank UK Unit For £1
HSBC chief executive Noel Quinn announced the acquisition of the Silicon Valley Bank UK unit for £1.
E-Rupee Worth Over Rs 130 Crore In Circulation: Nirmala Sitharaman
Digital or e-rupee worth over Rs 130 crore is in circulation on a pilot basis as of February 28, finance minister Nirmala Sitharaman said on Monday. The Reserve Bank of India (RBI) had launched pilots in digital rupee in the wholesale segment (e₹-W) on November 1, 2022 and in the retail segment (e₹-R) on December 1, 2022.
$42 Billion Of Silicon Valley Bank Wiped Out In Just Hours
For much of the day, anyone doing analysis on the now-liquidated Silicon Valley Bank was confined to using stale financial data as of Dec. 31.
US National Debt Will Hit $51 Trillion In Ten Years Under Joe Biden’s Budget
The US national debt will balloon by nearly $20 trillion over the next decade under the spending outlined in President Biden’s $6.9 trillion budget proposal released on Thursday.
These Are The Richest People In Africa
The African continent is home to 46 billionaires, the second-lowest total of any global region.
After India, Now Iran Poised To Ditch Dollar In Trade With Africa
Iran has suggested the establishment of a joint bank with African states to help develop cooperation and to promote trade in local currencies.