RSSCategory: News

PayPal raises Venmo fee in bid to make money from growth engine

PayPal raises Venmo fee in bid to make money from growth engine

The Paypal Holdings Inc. Venmo application is displayed on a handphone in an arranged photograph. (Bloomberg pic) NEW YORK: PayPal Holdings Inc. increased a Venmo fee as part of a broader push to make money from the fast-growing mobile payment service, prompting backlash from users on social media. PayPal said it will charge 1% when […]

October 13, 2018 | By | Reply More
Italy budget debacle puts Europe back in global spotlight

Italy budget debacle puts Europe back in global spotlight

Many officials are privately concerned about the possibility of Italy sparking another sovereign debt crisis like the one triggered by Greece in 2010. (AFP pic) NUSA DUA: As the eurozone sovereign debt crisis petered out, European officials at annual meetings of the International Monetary Fund were happy to move out of the spotlight over recent […]

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StanChart CEO says ‘actively working’ on Indonesian bank stake

StanChart CEO says ‘actively working’ on Indonesian bank stake

General views of Standard Chartered Plc. (AFP pic) NUSA DUA: Standard Chartered Plc is “actively working” on options for its stake in Indonesia’s PT Bank Permata Tbk, the British lender’s Chief Executive Bill Winters said on Saturday. StanChart and Indonesian conglomerate PT Astra International jointly control the Indonesia bank, each owning 44.56%. There has been […]

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Window ‘narrowing’ for global economy, IMF warns

Window ‘narrowing’ for global economy, IMF warns

The IMF has warned that ‘everyone is going to suffer’ from the US-China trade clash. (AFP pic) NUSA DUA: The window of opportunity for safeguarding global growth is “narrowing” as trade disputes deepen and emerging markets face fiscal crisis, the IMF said Saturday, warning countries against worsening things by weaponising currency and interest-rate policies. US Treasury […]

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BOE to future-proof 50-pound note by making it out of plastic

BOE to future-proof 50-pound note by making it out of plastic

The decision to produce the new notes comes after a consultation on the role of cash in the UK economy amid the growing use of digital payments. (Bloomberg pic) LONDON: The Bank of England’s next 50-pound note will be made out of plastic as the UK extends the production of polymer cash to its highest-denomination […]

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China’s Belt and Road tempts states, but comes with risks

China’s Belt and Road tempts states, but comes with risks

China launched the ambitious plan in 2013 under President Xi Jinping, seeking to link Asia, Europe and Africa with a network of ports, highways and railways. (AFP pic) NUSA DUA: China’s massive “Belt and Road Initiative” building push may create debt risks but is also responding to major infrastructure gaps in Asia and could boost […]

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Italy must “calm down” and stop questioning the euro

Italy must “calm down” and stop questioning the euro

Mario Draghi, the head of the European Central Bank. (AFP pic) NUSA DUA: Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households, European Central Bank ECB President Mario Draghi said on Saturday. Italy’s government has been locked in […]

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Alibaba’s Jack Ma to open institute for tech entrepreneurs in Indonesia

Alibaba’s Jack Ma to open institute for tech entrepreneurs in Indonesia

Jack Ma, executive chairman of China’s Alibaba Group Holding. (AFP pic) NUSA DUA: Jack Ma, executive chairman of China’s Alibaba Group Holding, said on Saturday he plans to open an institute to train thousands of tech entrepreneurs in Indonesia, where he is already an adviser to the government on e-commerce. Ma did not say when […]

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Indonesia sees market stress as good thing for reforms

Indonesia sees market stress as good thing for reforms

Indonesia’s economy is one of the hardest hit in Asia, with the currency slumping about 11% against the dollar this year. (Bloomberg pic) JAKARTA: Indonesia’s weakening currency is a good thing as it will spur the government to accelerate reforms to bolster the economy, according to Thomas Lembong, chairman of the Investment Coordinating Board. The government […]

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US-China trade row not a threat to world economy

US-China trade row not a threat to world economy

US Treasury Secretary Steven Mnuchin says the trade war with China will benefit, not hinder, allies. (AFP pic) NUSA DUA: US Treasury Secretary Steven Mnuchin pushed back Saturday against warnings that Washington’s trade fight with China imperils the world economy, saying that pushing Beijing to open up will be good for all. The IMF has […]

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