Micro News

Further reduction of Cypriot NPLs

The Cyprus Banking sector is making considerable efforts in order to further reduce the amount of non-performing loans by restructuring NPLs, where there appear to be viable restructuring options, or, in some cases, by writing-off .

King Salman and Vladimir Putin signed energy deals and a slew of arms on Thursday the 5th of October in King Salman’s landmark visit to Russia. Inevitably, the US ally strives to strengthen their cooperation with Moscow. The heads of the world’s largest energy exporters discussed an expansion of an…

Former Bundesbank President and UBS Chairman, Axel Weber, has stated that Bitcoin does not execute some of the most necessary functions of currency. Weber is now the latest senior banker to declare skepticism regarding the cryptocurrency. In essence, Bitcoin is a digital currency that allows individuals…

  IBM is now in collaboration with five international banks in the creation of a global trade finance platform involving blockchain technology. The five banks involved are Commerzbank AG, Erste Group Bank AG, Bank of Montreal and CaixaBank SA and UBS Group AG. The initiative intends to build blockchain-based…

The Ministry of Manpower (MOM) has stated that a new tripartite standard to boost flexible work arrangements was launched by the Second Minister for Manpower Josephine Teo on the 6th of October. The Tripartite Standard on Flexible Work Arrangements consists of MOM, the Singapore National Employers Federation…

EU: Fairer corporate taxation reform

The European Commission will present changes to the way taxes on sales are levied in the EU with the objective of combatting fraud and restricting firms’ excessive tax-planning.

The European Commission has released a statement saying that it had undertaken inspections into some EU members over banks’ alleged anti-competitive practices in limiting competitor financial firms from gaining online access to information about their client’s accounts. The Commission also said that…

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