The Bank for International Settlements (BIS) plans to use AI to monitor global bank transactions for potential instances of money laundering. The project, known as “Project Icebreaker,” focuses on developing a SWIFT-like bottleneck system that would enable global banks to regulate and potentially standardize all currencies. While the IMF is
Naledi Pandor, South Africa’s Minister of International Relations, told reporters that the new currency created by BRICS nations may offer a shield from sanctions. BRICS nations asked the bloc’s specially created bank to provide guidance on a how a potential new shared currency might work, including how it could shield
The Reserve Bank of Zimbabwe introduced a gold-backed digital currency that will be fully backed by physical gold held by the Bank. This move might pave the way for gold-backed money. Will gold rescue Zimbabwe from the ashes of economic despair and usher in a new economic era? Since Zimbabwe
Reuters reported that Elon Musk got rock star treatment in China, being greeted by top ministers from the Chinese government’s foreign affairs, commerce, and industry departments. Elon Musk received a 5-star welcome during a surprise trip to China as the nation heaped praise on the billionaire, holding him in the
To protect his $138 billion fortune, Jeff Bezos wants to be extra cautious and will sign a prenuptial agreement with his girlfriend, Lauren Sanchez. Amazon co-founder Jeff Bezos is all set to get married to his girlfriend of five years, Lauren Sanchez. The duo got engaged in a lavish ceremony.
Forbes has learned that the financial information and social security numbers of TikTok creators have been stored in China without their knowledge. Over the past several years, thousands of TikTok creators and businesses around the world have given the company sensitive financial information—including their social security numbers and tax IDs—so that
According to a statement published by the official Changjiang Daily newspaper on Friday, Wuhan City’s finance bureau announced that a total of 259 companies owed it more than 100 million yuan ($14 million) combined, leading it to declare bankruptcy. Wuhan, the largest city in central China, has publicly demanded that
Pakistan’s Federal Minister of Energy, Khurram Dastagir, Minister for Maritime Affairs, Faisal Subzwari, and Consul General of Russia, H. E. Andrey Viktorovich Fedorov, welcomed the first direct cargo ship from Russia. On May 25, a landmark event took place in Pakistan’s southern port city as the Russian cargo vessel arrived
According to Bloomberg, an unnamed banker at First Republic earned more than J.P. Morgan CEO Jamie Dimon last year. This year? Probably not so much… We once thought JP Morgan was happy to agree to take on the carcass of First Republic Bank because it could get billions in deposits
