Crypto News 

Kuwait Finance House Joins RippleNet for Improved…

“Kuwait Finance House is the first Kuwaiti bank to join RippleNet” writes Jp Buntinx for livebitcoinnews.com. RippleNet is the blockchain payments venture by Ripple.Moreover, it allows them to offer competitive and cheaper cross-border payments in the Middle East and beyond. “This is great news for the Kuwait Finance House, as it continues to add solid foundations to the major banking partnerships.This particular bank wants to achieve instant blockchain payments sooner rather than later. Source: livebitcoinnews.com Share This:

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AUD News 

Customers angry after National Australia Bank hit by technology outage

“MELBOURNE (Reuters) – National Australia Bank on Saturday suffered what it described as a “nationwide outage” to some of its technology systems, leaving customers unable to access banking services or withdraw money” writes Midwest Communications Inc for 95kqds.com. A spokesman from the bank told Reuters by telephone that it was a national outage, without elaborating on its cause.The bank tweeted just after midday (0200 GMT) on Saturday that some services were coming back online. Source: 95kqds.com Share This:

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News 

Bank Holiday Weather Forecasters Just Threw A Big Thundery Spanner In The Works

“The bank holiday weekend looks set to be scorching for many parts of the UK, but weather forecasters have warned that not everyone will enjoy uninterrupted sunshine” writes unknown author for huffingtonpost.com. Anyone who is lucky enough to be in Northern Ireland, which along with Scotland will see “the best of the sunshine”, could come close to enjoying record bank holiday temperatures.Plans to enjoy barbecue weather outdoors may have to be put on hold, or at least checked the day before committing, as there is a threat of thunderstorms throughout…

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News 

Kenya moves to regulate fintech-fuelled lending craze

“Tala says it has granted more than 6 million loans worth more than $300 million, mainly in Kenya, since it launched in Kenya in 2014” writes Midwest Communications Inc for 95kqds.com. On a loan with a month’s term, this equates to an annualized interest rate of 90 percent.But members of parliament say the public has had enough of high interest rates and the draft does not say the cap will be lifted.As it was for mobile cash, Kenya is something of a test case for the new lending platforms.Branch says…

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News 

Turkey’s leadership scrambles to regain investor confidence in its monetary policy

“The central bank on Wednesday convened an extraordinary meeting to hike rates by 300 basis points to 16.5 percent, amid a currency rout and double-digit inflation” writes Natasha Turak for cnbc.com. Turkey may have made a long overdue move to raise interest rates in an attempt to rescue its plummeting national currency, but investors are still in doubt over the independence of its central bank ahead of national elections in June.But asked if this changed his mind on the central bank’s independence, he said, “Not really.”.  Source: cnbc.com Share This:

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Erdogan Needs to Leave Turkey’s Central Bank Alone

“For months, President Recep Tayyip Erdogan has pressed the central bank not to raise interest rates to support the lira” writes Andy Mukherjee for bloomberg.com. Turkey’s central bank has since shifted tack: On Wednesday night, it raised one of its benchmark interest rates from 13.5 percent to 16.5 percent.Turkey’s central bank can effectively fight inflation only if the president leaves it alone.The country’s inflation rate stands at 10.9 percent, well above the central bank target of 5 percent.But if Turkey is to arrest an inflationary spiral, the president will need…

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News 

UK bank holiday weather forecast throws a spanner in the works

“The bank holiday weekend looks set to be scorching for many parts of the UK, but weather forecasters have warned that not everyone will enjoy uninterrupted sunshine” writes unknown author for huffingtonpost.co.uk. Anyone who is lucky enough to be in Northern Ireland, which along with Scotland will see “the best of the sunshine”, could come close to enjoying record bank holiday temperatures.Plans to enjoy barbecue weather outdoors may have to be put on hold, or at least checked the day before committing, as there is a threat of thunderstorms throughout…

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GBP News 

Chaotic Brexit could force interest rate cut warns Bank of England governor

“A disorderly Brexit could force the Bank of England to cut interest rates again sharply, according to its governor Mark Carney” writes Ben Chu for independent.co.uk. We have the tools we need.” The Bank has drawn criticism from some City analysts and traders for giving confusing signals to markets about the likelihood of a May interest rate rise.He also warned the TSC that the UK economy urgently needs the single market and customs union transition agreed by Theresa May and the EU after March 2019. Source: independent.co.uk Share This:

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Biggest rollback of bank rules since financial crisis…

“President Donald Trump signed the biggest rollback of bank regulations since the global financial crisis into law Thursday” writes unknown author for cnbc.com. The measure designed to ease rules on all but the largest banks passed both chambers of Congress with bipartisan support.Opponents, however, have argued the changes could open taxpayers to more liability if the financial system collapses or increase the chances of discrimination in mortgage lending.It raises the threshold to $250 billion from $50 billion under which banks are deemed too important to the financial system to fail.The…

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