Category: ARTICLE

India’s economy is the fastest growing economy.

In six weeks’ time Narendra Modi is expected to win a third term as India’s prime minister, cementing his status as its most important leader since Nehru. The electoral success of this tea-seller’s son reflects his political skill, the potency of his Hindu-nationalist ideology and his erosion of democratic institutions. But it also reflects a sense among ordinary voters and elites that he is bringing India prosperity and power.   Mr Modi’s India is an experiment in how to get richer amid deglobalisation and under strongman leadership. Whether it can grow fast and avoid unrest over the next 10-20 years will shape the fate of 1.4bn people and the world economy. As our special report explains, Mr Modi’s formula is working—up to a point. But there are questions over whether India’s success can last and whether it depends on him remaining in power.   India, the world’s fastest-growing big country, is expanding at an annual rate of 6-7%. New data show private-sector confidence at its highest since 2010. Already the fifth-largest economy, it may rank third by 2027, after America and China. India’s clout

Tesla set conditions for 790.51 acres in thailand

Thailand’s Prime Minister, Mr. Srettha Thavisin, has issued a directive to address the pressing issue of industrial city planning that is impeding investment opportunities in the country. Under his guidance, Ms. Pimpatra Wichaiyakul, the Minister of Industry, has been tasked with convening executives from the Ministry of Industry to devise solutions. Additionally, discussions with the Department of Public Works and Town Planning, under the Ministry of Interior, are underway to overcome these obstacles.   The urgency of this directive stems from the significant increase in investment figures observed throughout 2023. This surge in investment, evident from the rising number of applications received by the Board of Investment (BOI) and the investment figures in the Eastern Economic Corridor (EEC), underscores Thailand’s attractiveness as an investment destination. However, challenges persist in industrial city planning, as highlighted by feedback from numerous investors.   One such investor of notable interest is Tesla, the renowned electric vehicle manufacturer. Following Prime Minister Srettha’s promotional efforts in the United States, Tesla expressed interest in exploring investment opportunities in Thailand. However, Tesla’s stringent requirement of a 2,000-rai plot

BITCOIN 10% increase, return to the popular

  Bitcoin was trading at $56,772 The move upward pushed Bitcoin’s market cap up to $1,093.4B, or 51.64% of the total cryptocurrency market cap. At its highest, Bitcoin’s market cap was $1,275.5B. Over the past seven days, Bitcoin has seen a rise in value, as it has 7.78%. The volume of Bitcoin traded in the twenty-four hours to the time of writing was $36.7B. Over the past week, Bitcoin has shown a significant increase in value, rising by 7.78% compared to the previous week. This growth highlights Bitcoin’s strong market performance, catching the interest of both investors and observers.  

The Federal Reserve warned Goldman’s fintech unit about risk and compliance oversight, according to FT.

A division of Goldman Sachs’ transaction-banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. According to the Financial Times report on Thursday, the Federal Reserve had a discussion about risk and compliance earlier this year. The Fed has raised concerns about the Goldman division’s insufficient due diligence and monitoring processes when accepting high-risk non-bank clients.  

The cryptocurrency market may recover in the future.

The market awaits a big interest rate decision from the Fed and ECB next week. And keeping an eye on the decisions of other central banks. The Reserve Bank of Australia surprised yesterday by raising interest rates. And today the focus is on the Federal Reserve Bank of Canada. Here are factors investors should consider before making a decision.   The crypto market moved higher this morning.   Updates from the Crypto Market, gain is in the focus.   Bitcoin is trading at $26,000 and Ethereum at $1,800.  

Asia FX market got deeper, amid Fed uncertainty. USD is going to be stronger.

Most of the Asian currencies retreated on Friday, coming under pressure from uncertainty over U.S. monetary policy following mixed economic readings this week. The Chinese yuan traded at two-month lows after the worse-than-expected trade and inflation data released this week pointed to a slowing economic rebound in Asia’s largest economy. Weakness in the Chinese economy dulled sentiment towards broader Asian markets.  The South Korean won fell 0.2%, while the Malaysian ringgit shed 0.3%, even as data showed that Malaysia’s economy grew more than expected in the first quarter. The Australian dollar shed 0.1% but remained relatively underpinned by expectations of more interest rate hikes by the Reserve Bank. The Japanese yen fell 0.1% and was set for mild weekly gains as fears of a U.S. banking crisis and uncertainty over the debt ceiling made for some safe-haven demand.

Crypto-assets green light to tracing transfers in the EU

Parliament endorsed the first EU rules to trace crypto-asset transfers and prevent money laundering, as well as common rules on supervision and customer protection. On Thursday, MEPs approved with 529 votes in favor to 29 against and 14 abstentions, the first piece of EU legislation for tracing transfers of crypto-assets like bitcoins and electronic money tokens. The text –which was provisionally agreed by Parliament and Council negotiators in June 2022- aims to ensure that crypto transfers, as is the case with any other financial operation, can always be traced and suspicious transactions blocked. The so-called “travel rule”, already used in traditional finance, will in the future cover transfers of crypto assets. Information on the source of the asset and its beneficiary will have to “travel” with the transaction and be stored on both sides of the transfer. The law would also cover transactions above €1000 from so-called self-hosted wallets (a crypto-asset wallet address of a private user) when they interact with hosted wallets managed by crypto-assets service providers. The rules do not apply to person-to-person transfers conducted without a provider or among providers acting

SVG FSA Steps up Regulations on FX Activity, What Does It Mean to Brokers?

SVG FSA Does Not Oversee FX Activity         First of all, let’s get one thing straight, and that is forex activities do not exist in SVG, theoretically. So, there is no so-called FSA-issued FX Brokerage License in reality, and all FSA licenses are corporate registration.           The FSA was founded in 2012, which is still young. Back then, the SVG authorities wished to promote economic growth by developing offshore finance, hence the founding of the regulator. According to the FSA Act, its role is to regulate financial entities such as non-banks within the country. But no license that authorizes trading businesses related to foreign exchange, brokerage, or a binary option is issued by FSA whatsoever. But the regulator does not prohibit a registered International Business Company (IBC) to engage in such activities, and the fact is, a big portion of financial entities registered in SVG are engaged indeed.             On the other hand, the requirements to obtain an SVG FSA license are minimal. Normally, no business plan is

How to Find Forex Liquidity Provider in 2023

    As science progresses and communication technologies develop, economic and financial processes become increasingly globalized. The emergence of electronic trading systems made possible the creation of global trading floors, the largest of which today is the Forex market.           Participants of such trading floors are usually different economic entities geographically located at any point globally. Thanks to such financial institutions, today’s Forex market is the most liquid and has a daily turnover of trillions of dollars. On the other hand, trading transactions are also simplified, the volume of available liquidity increases, and opportunities for capital investment are expanded. This allows banks, brokerage companies, and investment funds to offer clients a wide range of financial products and services, meeting any risk profile. However, when it comes to the functioning of the entire market, providers of FX liquidity, responsible for keeping the trading process running smoothly, come into play.           In this article, we will explain what Forex liquidity providers are and what types they are divided into. You will also learn how

How AI Is Shaping the Future of Banking in Three Leading Southeast Asian Countries

          Southeast Asian markets have seen a vast uptake in AI-led financial technology solutions. See how OneConnect Financial Technology contributes to this digital revolution in financial services.           Artificial Intelligence (AI) has made steady, visible changes to a broad variety of industry types, among which includes the global financial services sector. Increasingly, the industry has grown dependent on technology in only a few short decades. Among the various ways that AI is applied within financial services include data aggregation, security, authentication, goods, and services. To provide a sense of how rapidly its applications have scaled, the market for AI in banking was assessed at $3.88 billion in 2020. By the end of the decade, it is anticipated to rise by 32.6% CAGR to $64.03 billion.          Southeast Asian nations have not been left out amid this rapid growth in AI applications within financial services. In fact, Southeast Asia with some of the most rapidly developing economies in the world has even spearheaded this rapid deployment of AI in finance,