Category: Bank
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World Bank resists push to end Kenya Power monopoly
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The World Bank has warned the Kenyan government as it seeks to end Kenya Power’s monopoly on selling electricity to homes and businesses, saying exposing the utilities to competition would lead to higher electricity prices. Bretton Woods believes allowing other companies to sell power also risks the Nairobi Stock Exchange-listed…
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Argentina’s Central Bank Exhibits Bitcoin Mining: Here’s Why
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The Central Bank of Argentina (BCRA) has unveiled a unique art exhibition at the Hector Carlos Janson Historical and Numismatic Museum with a spotlight on Bitcoin. The exhibition, titled “Art, Artificial Intelligence and the Future of Economics,” represents the first global case in which actual destroyed currencies from various countries…
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Argentina’s Central Bank Exhibits Bitcoin Mining: Here’s Why
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The Central Bank of Argentina (BCRA) has unveiled a unique art exhibition at the Hector Carlos Janson Historical and Numismatic Museum with a spotlight on Bitcoin. The exhibition, titled “Art, Artificial Intelligence and the Future of Economics,” represents the first global case in which actual destroyed currencies from various countries…
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Bank of Japan Holds Rates, Hints at Potential December Move
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The Bank of Japan (BOJ) maintained its short-term interest rate target at 0.25% at its policy meeting today, while signaling increased confidence in the economic outlook that could pave the way for further monetary tightening as early as December. Link to the Bank of Japan’s official statement and economic outlook…
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Credit Bank to pay trader Sh1.7m in bizarre identity theft saga
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Credit Bank has been ordered to pay Sh1.7 million in compensation to a merchant and non-customer who was wrongly listed as a loan defaulter in a bizarre stolen identity case four years ago. High Court Judge Lawrence Ntheja Mugambi said the bank violated Paul Mosambi Mwatu’s human dignity and integrity…
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Will Norway Go Digital? Central Bank To Decide On CBDC Next Year
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Next year, Norges Bank, Norway’s central bank, will make a major decision on whether to create its own CBDC, or central bank digital currency. According to Deputy Governor Pal Lungva, the central bank was heading towards… Finalizing the recommendationalthough it was not necessary to speed up the work immediately. In…
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South East leads in bank loans to small businesses as other UK regions lag behind
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Small businesses in south-east England are benefiting from a strong rebound in bank lending, leaving the rest of the UK behind, according to new research by the British Business Bank. Lending to businesses in the region has surged, leading to a 21% increase in approved loans and overdrafts across the…
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Kenyans with over half a million in bank revealed
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Less than one percent of bank accounts in Kenya held more than Sh500,000 last year, highlighting Kenya’s weak savings culture and growing income inequality. Central Bank of Kenya (CBK) data shows that the 800,000 high-quality depositors represent 0.74 per cent of all bank accounts holding 85 per cent of deposits…
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Bank of America Predicts up to ~390% Surge for These 2 ‘Strong Buy’ Stocks
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We’ve reached the fourth quarter, and investors are positioning their portfolios for next year. As always, the key is to identify stocks that are poised to deliver strong returns, and Bank of America has highlighted solid options for those looking for high-growth opportunities. Bank of America analysts do not limit…
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World Bank projects Kenya’s unemployment to worsen in 2024
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Kenya’s unemployment rate will worsen in 2024 compared to last year, reflecting a difficult economic environment marked by slowing business activity and a hiring freeze, a World Bank assessment showed. In a new report, the World Bank estimated the unemployment rate at 5.7% in 2024, slightly higher than the 5.6%…
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World Bank projects Kenya’s unemployment to worsen in 2024
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Kenya’s unemployment rate will worsen in 2024 compared to last year, reflecting a difficult economic environment marked by slowing business activity and a hiring freeze, a World Bank assessment showed. In a new report, the World Bank estimated the unemployment rate at 5.7% in 2024, slightly higher than the 5.6%…
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Nvidia stock has another 38% upside amid a ‘generational opportunity’ in AI, Bank of America says
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Slave Vlasic/Getty Images; Chelsea Jia Feng/PI Bank of America analysts raised their price target for Nvidia stock to $190 per share this week. They see the AI market growing to $400 billion, giving Nvidia a “generational opportunity.” They point to Nvidia’s strong leadership among competitors, thanks to its corporate partnerships.…
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Nvidia stock has another 38% upside amid a ‘generational opportunity’ in AI, Bank of America says
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Slave Vlasic/Getty Images; Chelsea Jia Feng/PI Bank of America analysts raised their price target for Nvidia stock to $190 per share this week. They see the AI market growing to $400 billion, giving Nvidia a “generational opportunity.” They point to Nvidia’s strong leadership among competitors, thanks to its corporate partnerships.…
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Red tape risks turning city into ‘graveyard’, warns Bank of England official
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Sam Woods, chief executive of the Bank of England’s Prudential Regulation Authority, warned that excessive regulation could turn the City of London into a “graveyard” by stifling innovation and risk-taking. Speaking at the city’s annual banquet at the Mansion House, Woods warned that although financial regulation is essential for stability,…
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Craig Wright Says Michael Saylor’s Plan For A Bitcoin Bank Is Betraying Bitcoin
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Michael Saylor’s aggressive Bitcoin strategy over the past few years It has paid off greatly For him and MicroStrategy, which now makes the company one of the largest holders of Bitcoin. In a recent interview, Saylor revealed an ambitious plan to transform MicroStrategy To a leading Bitcoin bankWith the aim…
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Bank of Canada business outlook survey says “demand is weak”
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To me, this report is more important than today’s jobs data. The Business Expectations Survey index remains negative, indicating broad-based weakness “Demand is weak, businesses have excess capacity, and price growth continues to slow” but there has been only slight deterioration since last quarter. Companies have reported weak sales growth…
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Bitcoin-Centric Strategy: Saylor Envisions MicroStrategy As The Leading Bank For Crypto
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In a recent interview with analysts from the research and brokerage firm Bernstein, MicroStrategy founder Michael Saylor articulated his ambitious vision for the company: to transform it into the leading Bitcoin (BTC) bank. During the interview, Saylor emphasized BTC’s importance as a valuable asset, stating that his ultimate goal is…
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Singapore’s central bank meets Monday, expected to maintain steady policy
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The Monetary Authority of Singapore (MAS) is the country’s central bank. The policy meeting is scheduled to be held on Monday, October 14. MAS is expected to maintain policy stability: Nine out of 10 analysts polled by Reuters expect the Monetary Authority of Singapore to keep its policy unchanged at…
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Singapore’s central bank meets Monday, expected to maintain steady policy
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The Monetary Authority of Singapore (MAS) is the country’s central bank. The policy meeting is scheduled to be held on Monday, October 14. MAS is expected to maintain policy stability: Nine out of 10 analysts polled by Reuters expect the Monetary Authority of Singapore to keep its policy unchanged at…