The Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (Finma) have signed an agreement to expand cooperation on FinTech. This initiative was launched at the second Financial Dialogue between the MAS and the State Secretariat for International Finance (SIF) held today. The accord will help spur opportunities for FinTech businesses from Singapore and Switzerland to grow into each other’s markets. MAS and FINMA have also committed to sharing the information regarding emerging fintech trends and regulatory issues pertaining to innovation.
The European Commission, in response to growing pressure around the former European Commission President José Manuel Barroso, decided to conduct an investigation in respect of the new ethics commission that the Portuguese has agreed in Goldman Sachs last July. The Community executive chairman Jean-Claude Juncker made the announcement through a letter of response to the request for clarification received a few days ago by the European Ombudsman, Emily O'Reilly. The Secretary-General of the Commission, tells Juncker, has sent a letter to Barroso "asking him to provide clarifications on its nine responsibilities and the terms of his contract, on which - still the President of the Commission - will ask the opinion of an ad hoc ethics committee" which however is not binding.
PostFinance will lower rates for the companies for payments made with the PostFinance Card at the electronic terminals EFT / POS, after Mister Price had pushed towards this direction. The reductions agreed upon by both parties globally will reduce PostFinance SA revenue of at least CHF 3.5 million in 2017 and at least 4 million francs in 2018, as stated in today's press release of Price supervisor. The authorities took action in the second quarter 2015: the investigation had established that the business segment in question the Post Office branch has too high margins.
After weeks of calm, the Vix index showed Friday night a real surge moving up 5 points from 12.5 to 17.5 points, + 40% in one day stock market, triggering a real bell alarm among international operators. Soaring Vix was the prelude to the Wall Street meltdown. New York was in fact the first to pay the consequences; specifically the Dow Jones closed at -2.13%, S & P500 lost 2.45% while the Nasdaq closed at -2.54%. A first analysis indicates in the words of Rosengren, who on Friday had accused the Fed going to be laggard in raising interest rates.
Swiss carried 1.62 million people in August, an increase of 0.1% compared to the same month last year. The Swiss airline, controlled by the German Lufthansa, has increased by 9.6% in terms of seats / km compared to August 2015. As a result, the load factor declined by 3 percentage points to 86.8%: in July, had reached 87.9%. Overall, the number of flights has remained unchanged at 13,285 in August, while traffic, expressed in passenger-kilometers flown, was up 6%, it said in a note today's Swiss.
Although yesterday in the morning the upside seemed limited, the price managed to mount 102 yen, thus closing above the monthly PP and alleviating some downward pressure. Nevertheless, the 55-day SMA stays intact, suggesting the near-term outlook remains negative and 100.80/70 is still a viable target. This support mainly consists of the 50% retracement of the 2012-2015 rally and monthly S1. Additional strong demand is seen at 100 yen, and for the time being this we consider to be the floor.
It is too risky to continue to postpone a rate hike. Especially since there are "reasonable terms" so that they are raised. The message delivered by Eric Rosengren, president of the Federal Reserve Bank of Boston is very clear. And the market returns to fear monetary tightening, perhaps sooner than imagined. Considering US central bank's meeting on next 20 and 21 September, there are very few contrary convinced that the institute led by Janet Yellen will resume as early as this month, the normalization of monetary policy started in December 2015 for the first time since June 2006. This is demonstrated by a survey of the Wall Street Journal, that only 13.1% of economists expects an increase in Fed rates in less than two weeks. According to 73.8% of respondents, there will not be tight until December.
The high value of the franc is the key for Switzerland to become richer: Reiner Eichenberger, professor of economics at the University of Fribourg, is convinced. "The strong franc creates disadvantages as a production location, but even greater advantages for the consumer: we import more cheaply, so costs go down", explains the specialist in an interview published by the financial portal Cash.
Banca Monte dei Paschi di Siena said Chief Executive Fabrizio Viola has agreed with the bank’s board to resign; the summit was dedicated to updates on the business plan and the rescue maxi-operation institution with a recapitalization of up to 5 billion euro. Just the difficulties of placing an increase of that magnitude, as evidenced by the banks business operation to work on the market, would have led to the choice to present the third increase in three years with a different banker.
DLT Financial &Tramonex, a London-based start-up said they would launch the first fund to track an index of digital currencies such as bitcoin in the coming weeks. The project could open up the market and simplifying access to this particular type of asset, breaking the wall that still separates many people from understanding what are the bitcoins and how they work.
MGF Fall Edition is Presenting twelve High Growth companies both public and private i
"Investire nel mattone" è probabilmente una delle scelte meno rischiose. La casa è un bene rifugio
Two years after two historic global agreements were established, leaders and other change agents in
Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.
The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the
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