European Banks Led by BNP to Benefit From Basel Rule Change
Regulators tweak math for capital buffers in nod to bank union
BNP Paribas could see lower capital requirements as a result
European banks led by BNP Paribas SA stand to benefit after global regulators agreed to start treating the euro area as one market in determining capital requirements for its top lenders.
Banks headquartered in Europe’s banking union, which encompasses mainly the countries that share the euro, would see cross-border exposures within the bloc treated as domestic ones, which are considered less risky,
Vietnam more attractive investment destination | Vietnam+ (5/30/22)
Due to China‘s strict zero-COVID policy and disrupted supply chains, more and more German companies in Asia are looking for alternatives and neighbouring Vietnam has become a new target, the German weekly business news magazine WirtschaftsWoch wrote in an article published on May 29.
In Asia, many German companies are looking at Vietnam as a new location for production.
The article cited Marko Walde, Chief Representative of the German Industry and Commerce in Vietnam, as saying that since Vietnam reopened its borders on March 15, the chamber has been visited almost every week by medium-sized German companies looking for new locations.
Vietnam offers tariff advantages thanks to the Trans-Pacific trade agreement with the US and is the only Asian country, besides Singapore, that has a free trade agreement with the EU.
Internationally active companies are diversifying their supply chains and considering Vietnam as an investment location, the article quoted the Germany Trade & Invest (GTAI) in analysis of the country of 99 million inhabitants.
The GTAI also took Danish toy manufacturer Lego as an example, with the company investing more than 1.2 billion EUR (1.29 billion USD) in a new factory in Vietnam.
Masoud Haider, warning of the anger of the Iraqi street: The poverty rate is increasing and the situation may explode
Masoud Haider, advisor to President Barzani, warned today, Monday, of an explosion in the Iraqi street in light of the failure of the political forces to agree on the formation of the federal government, nearly seven months after the elections.
In an interview with Kurdistan 24, Masoud Haider said that Iraq is under the rule of armed groups and the influence of a regional state that implements its policies in the country through its own tools.
He added that ballot boxes are not respected in Iraq, noting at the same time that the Iraqi people “are very angry, and the street may explode at any moment.”
Masoud Haidar stressed that there is an attempt to take the country to safety through the tripartite alliance (the Sadrist movement, sovereignty and the Democratic Party).
Adviser to President Barzani indicated that Iraq’s imports amounted to 1300 billion dollars in the past 19 years, but they did not reflect on the lives of citizens, especially in Baghdad and the south, pointing out that the poverty rate exceeded 40 percent, and reached 50 percent in some provinces.
Masoud Haider said that the Kurds organized their relations with Baghdad within the framework of the constitution.
He went on to say, “The stability of Baghdad is important to the Kurdistan Region, and any chaos that occurs in Iraq will reflect negatively on Kurdistan.” link
Visa International begins its work in Iraq
The Central Bank of Iraq announced that Visa International has started its work in Iraq.
A statement by the bank stated that “Al-Furat News Agency” received a copy of it, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb, received today, Monday, a delegation from the International Visa Company, where the company started the first steps of its work in Iraq.”
On the sidelines of his meeting with the delegation, Makheef stressed that “the Central Bank of Iraq will support the company’s steps in its work in Iraq because of its importance in attracting sober international expertise and the need to encourage electronic payments and enhance financial inclusion.”
He added, “The Central Bank of Iraq pays great attention to developing the banking sector and keeps pace with the latest developments, and we will provide the necessary support for that.” link
Source: Dinar Recaps
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