Recent research has shown that the stance of monetary policy can influence financial stability. This column provides an explanation for the effects of monetary policy on credit growth based on a ‘credit creation theory of banking’. In this framework, ‘funds’ are liquid bank deposits created by the banking system independently of private saving(s). The central […]
Meta Platforms Inc on Friday launched its subscription service in the U.S., which would allow Facebook and Instagram users pay for verification in the same vein as Elon Musk-owned Twitter. The Meta Verified service will give users a blue badge after they verify their accounts using a government ID and will cost $11.99 per month on […]
India’s economic and banking system are strong even amid the turmoil currently rocking global markets, Prime Minister Narendra Modi said on Saturday. “Amidst a global crisis, today India’s economic system is strong, the banking system is strong. This is the power of our institutions,” Modi said at an India Today gathering. Bank stocks worldwide have […]
– The situation between India and China in the western Himalayan region of Ladakh is fragile and dangerous, with military forces deployed very close to each other in some parts, Indian Foreign Minister S Jaishankar said on Saturday. At least 24 soldiers were killed when the two sides clashed in the region in mid-2020, but […]
China has fined auditing firm Deloitte 211.9 million yuan ($30.8 million) for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd , the finance ministry said on its website on Friday. Deloitte’s Beijing operations also will be suspended for three months, the ministry said in a statement. China […]
Public debt in Latin America and the Caribbean rose to 72% of GDP after the pandemic. High debt implies a drag on growth, higher interest payments, and elevated risk. This column argues that fiscal consolidation should be swifter than planned, that the region should bring debt down to a prudent level, that fiscal institutions and […]
Executive summary In an environment of record-breaking electricity prices driven by a gas supply shock and below-average electricity generation, reforming the design of the European electricity market is seen as a means to delink consumer costs from volatility in short-term power markets.Electricity markets should meet three objectives: fairness, optimal investment and optimal operation. The current […]
India plans to force smartphone makers to allow removal of pre-installed apps and mandate screening of major operating system updates under proposed new security rules, according to two people and a government document seen by Reuters. The new rules, details of which have not been previously reported, could extend launch timelines in the world’s No.2 […]
Binance is halting its sterling deposits and withdrawals, a company spokesperson said on Tuesday, a month after the world’s largest crypto exchange ceased dollar transfers. Binance has been informed by its partner for sterling transfers, Paysafe, that it would halt its services from May 22, the spokesperson said, impacting all Binance customers. Sterling transfers for […]
Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares jumped 6% on the news. The widely-anticipated job cuts are part of a restructuring that will see […]
