• Finance

    Rethinking climate finance to improve infrastructure resilience

    Contents The impacts of a changing climate are no longer a hypothetical. Each year, extreme events such as hurricanes, droughts, fires, and freezes grow more frequent and more intense—destroying homes, disrupting businesses, and damaging the natural world along the way. Chronic challenges—including gradually rising temperatures, precipitation, and flooding—are adding even more stress. Minimizing and adapting to these impacts must be a priority for every unit of government and every sector of the economy. Financial markets represent one of the most powerful ways to drive public and private action on climate resilience, as reflected in a May executive order from the  

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  • Finance

    Bajaj Finance cautions customers to stay safe against financial frauds on social media

    CHENNAI: Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv, has cautioned its customers to stay alert against financial frauds in social media and not share any personal details with an unknown source. The company urges customer not to respond to unsolicited offers from anyone and always check all offer related details at its official website only. Bajaj Finance issued a cautionary message to customers over email and its official pages on Facebook, Instagram and Twitter warning them to stay away from fake offers by fraudsters: (i) luring innocent public with instant loans at unreasonably low to zero  

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  • Finance

    An open future for finance

    The push from open banking toward the more encompassing approach of open finance is being driven by several elements, from consumer pressure to regulatory obligations to greater awareness around privacy concerns. However, there is by no means a unanimous approach to open banking, and certain players believe that we are at different stages of completion on the open banking roadmap. This is an excerpt from Finextra Research report ‘The Future of Payments 2021’, which is exclusively available on the EBAday digital platform. Register here for EBAday to access the full report. The regulatory backdrop: was 2020 a true reset for  

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  • Finance

    Boldly Finance Recovery to Build Forward Better

    Aid, Economy & Trade, Financial Crisis, Global, Headlines, Health, Human Rights, Humanitarian Emergencies, Labour, TerraViva United Nations Opinion SYDNEY and KUALA LUMPUR, Jun 22 2021 (IPS) – COVID-19 has become a “developing country pandemic”, retreating from the North’s mass vaccination. With developing countries heavily handicapped, the International Monetary Fund (IMF) warns of a “dangerous [new] divergence”. Anis Chowdhury Renewed North-South divide The Economist believes death rates in developing countries are much higher than officially reported – 12 times more in low- and middle-income countries (LMICs), and 35 times greater in low-income countries (LICs)! Rich countries’ ‘vaccine nationalism 

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  • Finance

    Sudan eliminates customs exchange rate – finance ministry

    Vehicles line up for gasoline at a gas station in Khartoum, Sudan, May 4, 2019. REUTERS/Umit Bektas KHARTOUM, June 22 (Reuters) – Sudan has eliminated its customs exchange rate, used to calculate import duties, as the final step in a devaluation of its local currency, the finance ministry said on Tuesday. It also represents the final major step in an accelerated IMF-monitored reform programme the country is pursuing in order to receive debt relief and attract new financing. Earlier this month, Sudan fully removed subsidies on car petrol and diesel, and in February it devalued its currency and began a  

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  • Finance

    Analysts Review the Impact and Role of Sustainable Finance in the Non-Interest Market

    Tuesday, June 22, 2021 / 9:00 AM / Bukola Akinyele- Yisau for WebTV / Header Image Credit: Refinitiv   Sustainable Islamic finance has become a priority for many governments and institutions including sustainability objectives within their mandates. According to Refinitiv, from 2017-Q1 2021, the ESG Sukuk was valued at a remarkable $12.6bn and ESG funds at $756m. Islamic social financing must be an integral part of the solution for financing sustainable development. Through Islamic Finance there are opportunities for enterprise development, trade, skills development, Shariah-compliant product and services that key into sustainability and socio-economic inclusion. According to Madelena Mohamed,  

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  • Finance

    G7 Finance Ministers Agree On Allocation Of Taxing Rights And Global Minimum Tax Rate – Tax

    Worldwide: G7 Finance Ministers Agree On Allocation Of Taxing Rights And Global Minimum Tax Rate To print this article, all you need is to be registered or login on Mondaq.com. On 5 June, the G7 Finance Ministers announced an agreement in which the participating countries committed to new taxing rights that allow countries to reallocate some portion of profits of large multinational companies to markets (i.e., where sales arise - “Pillar One”), as well as enact a global minimum tax rate of at least 15 percent (“Pillar Two”). In the  communique, the  

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  • Finance

    New Zealand’s campaign finance laws are broken. That can have enormous consequences | Pete McKenzie

    The spokesperson for Aotearoa New Zealand’s Green party was genuinely surprised. She had called after I informed them that a major donor to their 2020 election campaign had subsequently pleaded guilty to animal neglect. The spokesperson said the Greens had not known about the neglect when they took her money. They nevertheless refused to donate it onwards. They argued the Incorporated Societies Act required them to hold on to it. As I later found out, that’s not quite true: returning the donation, or donating it to an organisation like the SPCA, seems to be possible according to their  

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