NEWS
IMF says Uganda’s Economic Performance is Satisfactory
05.07.2014
The International Monetary Fund (IMF) has hailed the Government’s commitment to infrastructure development, the effective control of inflation and the start of the treasury single account to manage the Government payroll.
The IMF executive board has just completed the second review of Uganda’s economic performance under a Policy Support Instrument that was approved on June 28, 2013 and rated Uganda’s economic ...
Chinese Currency in Full Vogue in South Korea
05.07.2014
Chinese tourists no long need to bring a large amount of US dollars when travelling in South Korea, as they can choose to use China UnionPay (Chinese national payment card), or even renminbi (Chinese currency is also referred to as yuan, CNY) in cash in some stores.
“The store I just passed by offers five percent discount for China UnionPay ...
Central Bankers Warn on Bubbles
05.07.2014
The Bank for International Settlements, an organization representing the world’s main central banks, warned on Sunday that dangerous new asset bubbles were forming even before the Community economy has finished recovering from the last round of financial excess.
Investors, desperate to earn returns when official interest rates are at or near record lows, have been driving up the prices of stocks ...
China Eases Exchange Rate Controls for Banks
04.07.2014
China announced another modest easing Thursday of its currency controls, saying banks will be allowed to set their own exchange rates in dealings with customers.
The change adds to a series of moves aimed at making China's government-controlled financial system more market-oriented and efficient.
The United States and other countries have criticized Beijing’s controls on the yuan, also called the renminbi. They ...
Fed Chief Yellen Says Regulations Best Tool for Financial Excesses
04.07.2014
Federal Reserve chief Janet Yellen said Wednesday the nation’s central bank should not combat financial excesses by raising interest rates except in extreme cases. Instead, she called for targeted regulations that could pop bubbles as needed and a stronger safety net to prevent them in the first place.
The speech marked Yellen’s most detailed response so far to criticisms – from ...
