“While these are … distinct efforts,” El-Erian said, “they can serve to come together in slowly eroding the absolute dominance of the dollar and of the dollar-payments system.” On the bandwagon It will be a long re-balancing. While advanced economies hold as much as 70 percent of their reserves in gold, BRICS central banks typically … Read more
Bank of England Governor Andrew Bailey hit back against former U.K. Prime Minister Liz Truss, saying her downfall was caused by her decisions and those of her team, rather than any “deep state” conspiracy. “I don’t know what she means by that,” Bailey told the Guardian in an interview published on Thursday. “I’ll say this … Read more
After several years of exploring the possibility of introducing a digital currency in Canada, the central bank is shelving the idea. The Bank of Canada confirmed to CBC News it has shifted its focus away from the idea of introducing a digital Canadian dollar, which could be used for online purchases and money transfers. The … Read more
President Emmanuel Macron’s camp argues that the National Rally measures could cost over €100 billion annually, citing an independent estimate, while proposals from the left-wing alliance could cost up to €268 billion. The National Rally, however, has backpedaled on some of its most expensive ideas. Le Maire said France could experience the same dire consequences … Read more
“I have to tell you, in reality the main reason for this downgrade is that we saved the French economy,” Le Maire said in an interview with Le Parisien published right after the ratings decision was announced. The downgrade “will have no impact on the daily life of the French,” he said. “This essential spending … Read more
Car sharing platform Zoomcar is confident for substantial growth fuelled by its recent partnerships which further are aimed at fleet expansion. Zoomcar has said that it is on track to expand its fleet substantially, targeting the addition of over 5000 cars by the end of FY24 and over 20,000 cars by the end of FY25. … Read more
Flair Airlines chief executive Stephen Jones says he still hopes to add several Lynx Air planes to his fleet, even after their tentative merger fell through when Lynx shut down last month. In a phone interview, Jones said the Boeing 737 Max 8s are the same model that comprise the bulk of his 20-plane fleet … Read more
Ana Brnabić is the prime minister of Serbia. As a direct response to calls from Serbia’s opposition for snap elections at the parliamentary and local levels, my country held early elections on December 17, 2023. Under President Aleksandar Vučić, and a government led by the Serbian Progressive Party (SNS), over the past 11 years … Read more
A man in the southwestern Chinese province of Sichuan has been arrested for spreading rumours about the stock market amid a crackdown by law enforcement on acts that undermine the country’s fragile economic recovery. A 30-year-old man in Chengdu, the capital of Sichuan and a commercial hub, was detained over suspicions he used news about … Read more
