Micro News

The European Union adopted the idea of creating a new European Defence and Security cooperation network known as Pesco. Pesco will provide an opportunity to develop military joint capabilities,  collective project investment and strengthen the appropriate armed forces of the union members. On November…


The Bank of Singapore plans to hire about 20 relationship managers next year to meet the needs of Indian non-residents and rich people in the Arab world, said the global market leader in the South Asia and the Middle East, Mr Vikram Malhotra. Most of the new managers will be based in Dubai, but also…


Banks might face fines unless they comply with new regulation to scrutinize the immigration status of 76 million current bank account holders. Such a thorough check needs to be conducted against a government database of immigrants without the right to reside in the UK. The Home Office has the right…


On Wednesday (December 13th) South Korea banned its financial institutions dealing with virtual currencies, such as Bitcoin. This is due to the fact that Bitcoin's growth rate is speculative. Around a million South Koreans, many of whom are short-term investors own Bitcoin; the demand for Bitcoins is…


Entities across the EU will be required to disclose their real owners under new legislation initiated by the release of the Panama Papers. The agreement was seen as big step in the fight against money laundering and tax evasion and was welcomed by anti-corruption campaigners. However, the campaigners…


Businesses in Singapore will be required to use the Singapore Corporate Access (CorpPass) for their online transactions with the Government from Q3 in 2018 as announced by the Government Technology Agency (GovTech) announced on Monday the 18th of December. According to GovTech, more than 80% of businesses…


The Central Bank of Cyprus has called for the introduction of more radical measures to be applied to borrowers with Non-performing loans. Borrowers are advised to have NPLs restructured as soon as possible, on the basis of the relevant Central Bank Directive that banks currently have to comply with,…


The world’s biggest provider of shared work spaces, WeWork, opened its first location in Singapore on Thursday the 14th of December. WeWork is also said to have plans for at least 2 more co-working spaces there. The WeWork Beach Centre is the New York-based company’s 200th company around the world and…


Frankfurt: ECB goal for 2020

On Thursday the 14th of December, European Central Bank (ECB) updated its inflation and growth forecasts for the next few years but stood by its substantial support to the economy as President Mario Draghi states that it will not reach its desired price growth target by 2020. The Frankfurt institution…



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