The Bank of Canada Keeps Overnight Rate Steady Overview of Current Economic Conditions The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Inflation in many countries is easing…
Clearstream creates new bank in Luxembourg for institutional fund investors Introduction According to the official announcement, the recently established banking firm will cater to Clearstream’s fund execution enterprise, Vestima, reputed as the world’s most extensive fund-processing platform, with access to 230,000 funds in 50 markets. It has acquired a commercial banking permit through the new…
Buffet’s Big On Japan (Again) & How You Can Bet on It Too As we have reported prior, Warren Buffet loves Japanese firm ever since the pandemic started. Now, Warren Buffett’s Berkshire Hathaway is reportedly considering increasing its stake in Japanese firms. Japan’s trading houses are significant players in the country, importing everything from food…
Exness Promotes Shayma Ghanim to Country Manager A Rising Star Exness, a top forex and CFDs provider, has recently announced the promotion of Shayma Ghanim to the prestigious position of Country Manager. Shayma Ghanim, who previously held the role of Senior Key Account Manager and Team Leader for Middle East and North Africa, shared the…
Introducing Clearstream Fund Centre S.A.: Clearstream’s Latest Venture in Luxembourg A New Banking Entity of Clearstream Deutsche Börse-owned Clearstream, a leading provider of post-trading services, has made a significant move in the financial industry by establishing a new banking institution in Luxembourg. The newly formed entity, named Clearstream Fund Centre S.A., is set to cater…
Late Tuesday, the lower house of Switzerland’s Parliament voted against the Swiss government’s financial rescue package guarantee of 109 billion Swiss francs (about $120.5 billion) for Credit Suisse. However, voting was symbolic, as lawmakers cannot overturn the state’s commitment to the funds. A Symbolic Vote in Swiss Parliament The Swiss lawmakers are divided on their…
Euronext’s FX trading volumes up by 26% MoM in March 2023 Overview The average daily volume in FX for last month came in at $22.6 billion. Compared to February’s $20.6 billion, this was also a 9.7% MoM increase. Total Cash Market numbers in March stood at $292.0 million, up by 22.7% MoM compared to the…
A Tale of Cryptocurrency Investment Fraud: The Curious Case of Rashawn Russell Alleged Fraudster Faces Criminal and Civil Charges A New York-based former investment banker and registered broker, Rashawn Russell, found himself in hot water this week as he was arrested for running a cryptocurrency investment fraud scheme. The US prosecutors wasted no time in…
