Although the figures of wealth and income disparities are already staggering in wealthier Western countries, they are significantly worse in countries like India and China. One instance that clearly depicts the disparity is the fact that an average Indian would need to work 17 million years to become as wealthy as Mukesh Ambani.
Russian finance minister says the BRICS nations should create their own SWIFT system to counter sanctions and strengthen their own national currency.
Feng Shui which has been used by brokers to predict the stock market has been banned by China's Securities Regulatory Commission.
"Moscow just wouldn't come running to India's defense if China decided to invade" was the ominous comment made towards India. In a bizarre series of events, the US has threatened India with consequences for propping up ruble trade and undermining the dollar based financial system.
Although reform is on the way with officials from The Gambia's central bank suggesting a potential relationship with Nigeria, countries may begin to look internally for currency orders. But yet, the reason behind why 40 African countries print their money in UK, France and Germany even decades after independence is something worth looking into.
The fact that Biden is planning a new digital currency is no secret. There are several reasons why you should be very worried about this as it is suspected that such a new proposal will provide the federal government authority over large portions of society and the economy.
Russian Finance Minister Anton Siluanov underlined this week that the country will settle the bill in rubles should the dollar transfer fail. But this has led to concerns as for the time being, Russia has managed to avoid default after J P Morgan processed the funds.
Reliance began stealth seizure of Future stores on Feb. 25. Much of Future management was in the dark about the takeover according to sources. Reliance wants to rebrand the stores and keep Future employees on as per sources. After the takeover of stores, Amazon and Future would commence talks.
Since February 21, when Russia acknowledged the separatist republics of Donetsk and Luhansk in eastern Ukraine, laying the groundwork for the special military operation three days later, Western nations have instituted a succession of economic sanctions against hundreds of Russian political leaders and corporate tycoons who regulate the country's media, financial institutions, oil refineries, and other critical industries.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is the global financial system that allows immediate and secure transfers of money across borders. It is the web that verifies all financial transactions. It links 11,000 banks and institutions in more than 200 countries, with 40 million messages a day. Using SWIFT ensures that transactions happen in seconds in a secure way. Around 1% of those messages involve Russian payments, according to the BBC.