Central banks in Asia, Australia and New Zealand (NZ) have joined a brewing global currency war by slashing interest rates and pledging to keep them down, worrying markets over the risk of a chase to the bottom.
The ban led to plummeting trade volumes and exchanges shutting their businesses. A three-judge Supreme Court bench said in their ruling that while the central bank had the power to take pre-emptive action, the court questioned the "proportionality" of such measures.
No other topic has been ubiquitous across the globe — with the exception of coronavirus, of course, how can we forget to mention that— than cryptocurrencies. Strange that something called crypto meaning secret or concealed is the most widely discussed and analysed and dissected
The new banknote has been distributed to banks and exchange houses, according the CBUAE statement. Polymer banknotes can contain many more security features than paper banknotes.
Emirates NBD, Abu Dhabi Commercial Bank (ADCB), First Abu Dhabi Bank (FAB) and Bank of Sharjah are amongst the national banks to programme their ATMs for the new denominations.
The Central Bank of the UAE (CBUAE) has launched two new banknotes, in five and ten dirham denominations, made of polymer and enhanced by advanced technical characteristics and security features.
Turkey’s annual inflation will peak at around 70 per cent by June before declining to near 43 per cent by year-end, the central bank forecast on Thursday,
The World Bank has projected a contraction of the Ukrainian economy in 2022 to be 45 per cent and that of Russia to be 11.2 per cent. This is directly related to the war, triggered by Russia’s invasion of Ukraine, on February 24.
Few Lebanese believe next Sunday’s parliamentary election will install enough reformers in the 128-member national assembly to effect change and save the country from the downward slide which began nearly four years ago and inspired