News 

Japan’s FSA Announces New Chief Sustainable Finance Officer

“As CSFO, Ikeda will be responsible for promoting sustainable finance and attempting to bolster its popularity amongst Japanese financial institutions” writes David Kimberley for financemagnates.com. As there is not a fixed definition as to what constitutes an ESG investment, it is difficult to say exactly what they are.The FSA has been one of the more proactive regulators, alongside the FCA and US authorities, when it comes to ESG investment.For instance, investing in American renewable energy companies might constitute an ESG investment but so too could an ethical mining company in…

Read More
News 

‘Operation Clean Money’, Launched After Demonetisation, Has Made No Progress, Shows RTI

“More than 9.27 lakh responses were received giving information on 13.33 lakh accounts involving cash deposits of around Rs.2.89 lakh crore” writes Prasenjit Bose for huffingtonpost.com. Scrutiny of about 18 lakh accounts, prima facie, did not appear to be in line with their tax profile.This author had submitted queries under the RTI Act, regarding the recovery of unaccounted wealth/black money, to the Directorate of Income Tax.Not just that, over the past two years, the finance ministry has made repeated claims regarding the progress made in retrieving black money through ‘Operation…

Read More
News 

Austria pressing ahead with digital tax after EU-wide plan fails

“Austria said in January that it would tax firms like Google, Amazon, Facebook and Alibaba 3 percent of their advertising revenue from within Austria” writes Midwest Communications Inc for 95kqds.com. “I am here today to say clearly again that we will implement and stick to what we have always said, namely introduce a national digital tax in Austria.”. VIENNA (Reuters) – Austria will press ahead with a proposed tax on internet giants after plans for an European Union-wide levy fell through this week, Finance Minister Hartwig Loeger said on Friday.…

Read More
Crypto News Platforms 

Commerce Department Taps R3, Mastercard For Trade Finance Council

“The U.S. Commerce Department is expanding its Trade Finance Advisory Council (TFAC), having recently appointed 21 new members to the group in an effort to explore innovation in and access to trade finance” reports pymnts.com. R3 Consortium members developed their blockchain trade finance prototype in 2017, which operates on the Corda platform and streamlines exchange of letters of credit for participating financial institutions.The digital currency is currently used by the R3 Corda platform in its settlement process to facilitate movement of money across borders.Among the new members is blockchain company…

Read More
News 

The Modi’s govt’s demonetisation gambit has only caused pain, not profit, shows a close reading of the RTI response and other information.

“More than 9.27 lakh responses were received giving information on 13.33 lakh accounts involving cash deposits of around Rs.2.89 lakh crore” writes Prasenjit Bose for huffingtonpost.com. Scrutiny of about 18 lakh accounts, prima facie, did not appear to be in line with their tax profile.This author had submitted queries under the RTI Act, regarding the recovery of unaccounted wealth/black money, to the Directorate of Income Tax.Not just that, over the past two years, the finance ministry has made repeated claims regarding the progress made in retrieving black money through ‘Operation…

Read More
Crypto News 

Token 2049: Vitalik Buterin Says Non-Financial Blockchain Use Cases Are a ‘Harder Pitch’

“Speaking of his personal commitments, Buterin highlighted decentralized applications (DApps), which allow multiple actors to share and cooperate on applications that are based on an underlying, decentralized blockchain protocol” writes Marie Huillet for cointelegraph.com. Ethereum (ETH) co-founder Vitalik Buterin says that blockchain applications outside of finance face more difficulty gaining traction, as the primary added value they offer is decentralization.In his further discussion on the current state of blockchain adoption, Buterin appealed to event attendees to identify real-world applications that are developing “not just in theory, but on the ground.”…

Read More
News 

Worried about next downturn? U.S. credit funds may offer early clues

“His reasons: A lot of money has flowed into private credit, pushing down lending standards in a benign economy” writes Midwest Communications Inc for 95kqds.com. “You can learn a lot by looking at the BDCs for what they might mean for other private credit,” said Carroll of S&P Global Ratings.Much of it now resides in non-bank financial entities, including commercial loan companies, such as CM Finance, private credit funds, and structured finance vehicles, many of which have yet to be tested by a broad recession after a nearly decade-long expansion.It…

Read More
Crypto News 

Corporates Keep Coffers Open To Blockchain

“Businesses continue to invest in blockchain technology as more service providers, particularly in the finance arena, pull their distributed ledger innovations out of beta and into the real world” reports pymnts.com. A new report from the International Data Corporation (IDC) pegged corporate spending on blockchain at a new high for 2019, expecting loose purse strings to continue through 2022.The report identified which regions’ corporate communities are investing the most in blockchain, with the U.S. leading the way.Analysts pointed to the blockchain industry’s ability to “remove a layer of uncertainty” as it continues…

Read More
GBP News 

Brexit fallout on UK finance intensifies: think tank

“The independent think tank said half of the affected asset management firms, such as Goldman Sachs Investment Management, Morgan Stanley Investment Management and Vanguard, had chosen Dublin, with Luxembourg the next port of call, attracting firms like Schroders, JP Morgan Wealth Management and Aviva Investors” writes Midwest Communications Inc for 95kqds.com. Paris is carving out a niche for markets and trading operations of banks and attracting a broad spread of firms. Source: 95kqds.com

Read More