Oracle Banking Tech helps companies with risk reduction and cash saving

The FINANCIAL — The pandemic has disrupted the entire global supply chain, highlighting the need for greater financial agility between buyers and suppliers. Banks can play an important role in supporting and preserving supply chains and managing risk with effective financing programs.…

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HSBC plans to become net zero bank

The FINANCIAL — HSBC announced an ambitious plan to prioritise financing and investment that supports the transition to a net zero global economy, citing a landmark opportunity to build a thriving, resilient future for society and businesses. The bank is committing to…

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Bank of America announces preferred stock dividends

The FINANCIAL — Bank of America Corporation announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock: Series of Preferred Stock            Dividend per…

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Eaton Vance to be acquired by Morgan Stanley

The FINANCIAL — Morgan Stanley (NYSE: MS) and Eaton Vance Corp. (NYSE: EV) have entered into a definitive agreement under which Morgan Stanley will acquire Eaton Vance, a leading provider of advanced investment strategies and wealth management solutions with over $500 billion…

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NIB issued 5-year SEK 1.5 bln Nordic–Baltic Blue Bond

The FINANCIAL —  On 6 October, NIB issued a new Nordic–Baltic Blue Bond focusing on water related investments. The five-year SEK 1.5 billion issue will be used to finance projects within water management and protection..  The transaction is NIB’s second Nordic–Baltic Blue…

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ADB maintains Georgia’s growth outlook at 4.5% for next year

The FINANCIAL — A new Asian Development Bank (ADB) report, the Asian Development Outlook 2020 Update said that Georgia is forecast to return to the economic growth of 4.5 percent in 2021 thanks to expected recoveries in tourism, private consumption, investment, and net…

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The ADC stated gov’t reneged on support for port project

The FINANCIAL — The Anaklia Development Consortium is the company originally selected by the government of Georgia to develop the Anaklia Port project. The company has released a statement yesterday, September 9. The statement claims the government ran a campaign to undermine the…

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US Department of State report says that Georgia is an open market

The FINANCIAL — The U.S Department of State published a report. It said that Georgia is a small but open market that derives benefits from international trade, tourism, and transportation. While it is susceptible to global and regional shocks, the country has made…

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Turkish lira hits all time low

The FINANCIAL — Turkish lira dropped to record low against dollar as state bank interventions could not reassure investors. The last lowest point was hit in May. Meanwhile, heavy interventions late last week drained the supply of local currency, government-owned lenders flooded the market with foreign exchange, selling at…

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Société Générale reported €1.26 bln loss

The FINANCIAL — One of the leading European financial services groups – Société Générale, today announced second quarter 2020 financial results. Revenues at its equity trading unit dropped 79.5 % compared with the same period in 2019. Customer activity gradually picked up from mid-May,…

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Gold price hit record high since 2011

Gold hit its highest price for the first time in 9 years. After a 18% surge in 2019, gold prices have moved sharply higher this year. The positive trend in the gold spot prices is chiefly due to the escalation in the geopolitical…

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Bank of America’s Q2 profit plunged over 50%

The FINANCIAL — Bank of America reported its second-quarter 2020 financial results today. “It is the most tumultuous period since the Great Depression for Bank of America”, says its CEO Brian Moynihan. The fall in revenue and profit was broadly in line with other…

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