Monetary tightening shook financial markets in developing countries
The supply disruptions have caused spikes in global commodity prices and pushed up inflation rates in several countries, including Indonesia. Jakarta (ANTARA) – President Joko Widodo, in his 2023 state budget speech, stated that aggressive monetary tightening in several countries had shaken the financial markets of many developing countries. “(This) tightening has caused shocks in the financial markets of many developing countries. As a result, the exchange rates of most developing countries have weakened,” the president noted in the State Budget speech on the Financial Note 2023 and the State Budget Project at the Parliamentary Complex, here, on Tuesday. Jokowi…
Read More »RCMP are still investigating allegations of financial mismanagement by YWCA Agvvik
About five years after allegations of financial mismanagement among senior staff at two Iqaluit women’s shelters came to light, an RCMP investigation looking into the matter is still ongoing. A report issued last week by Nunavut’s Information and Privacy Commissioner Graham Steele confirms that the police investigation is ongoing. In 2017, CBC News reported that the Nunavut government was launching a forensic audit of the YWCA Agvvik Nunavut amid the allegations. At the time, it was reported that the allegations were made in a trove of anonymously leaked documents, obtained by CBC News, that purportedly detailed the organization’s financial statements…
Read More »IndoStar Capital considers selling stake in housing finance unit
IndoStar Capital Finance is considering selling part of its stake in a home loan subsidiary to raise funds to address concerns about the private equity-backed firm’s ability to continue as a going concern. The company, in which private equity players Brookfield, Everstone and others have a majority stake, said in a BSE filing that its monetization plan for lndoStar Home Finance Private is subject to board approval. The housing finance unit reported a 253% year-on-year rise in net profit to Rs 16 crore in the first quarter ended June 2022. Its assets under management grew 45% year-on-year to 1,467 crore…
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Ireland’s banks target ‘once in a generation’ growth opportunity.
Ireland’s three main banks face a ‘once-in-a-generation’ opportunity to expand as two of their rivals prepare to exit the market, leaving behind €30bn in loan books and 1 million customers. Rising interest rates and the opportunity to grow at a fast pace provide optimism for the country’s banking system, which has been rehabilitated from a crisis more than a decade ago that crashed the entire economy irish “For the first time in a number of years, we are seeing the green shoots of net new lending in Ireland, something that has threatened to come and never quite came,” said Bank…
Read More »FedEx Ground contractor rejects request for extensive financial refunds
A FedEx Ground driver contractor leading an effort to convince the FedEx unit that many of its 6,000 contractors are in dire need of financial help has rejected a request for the unit to raise per-stop and per-line rates to to their contractors. Spencer Patton, who manages a 10-state territory that delivers packages for FedEx Ground, said through a spokesman that he doesn’t want to focus on single numbers because he wants to be sensitive to each contractor’s unique financial situation. . To reinforce the point, Patton said the Trade Association for Logistics Professionals (TALP), recently formed to work on…
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The Board of Arman Financial Services approves the issue of securities
In session held on August 14, 2022 The Arman Financial Services Board at its meeting held on August 14, 2022 has approved the following: Issue of up to 2,17,884 Compulsorily Unsecured Convertible Debentures of the Company of face value of Rs.1,230 crore with a maximum aggregate amount of such CCDs of Rs.26.79 crore. Issue of up to 3,21,134 Cumulative Redeemable Optionally Convertible Non-Participating Preference Shares of the Company of the face value of Rs.10 each at a premium of Rs.1,220 per share for a total maximum amount of this OCRPS of Rs.39.49 crore . The Board also approved the reclassification…
Read More »Nerdy announces Q2 2022 financial results
St. LUIS–(BUSINESS THREAD)–Nerdy Inc. (NYSE: NRDY) today announced financial results for the second quarter ended June 30, 2022. “During the second quarter, Nerdy made great strides in advancing our product strategy that delivers our ‘always on’ vision for both consumer and institutional customers,” said Chuck Cohn, founder , president and CEO of Nerdy Inc. “With the launch of consumer learning memberships and the launch of on-demand and teacher-assigned offerings for K-12 schools, we’re heading into the back-to-school season for the 2022 school year- 2023 in a position to offer the majority of our customers these new recurring solutions that will…
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Peter Schiff Warns US Facing ‘Massive Financial Crisis’, Economist Expects Much Bigger Trouble Than 2008 ‘When Defaults Start’ – Economics Bitcoin News
Economist and gold bug Peter Schiff usually has a lot to say, and last week Schiff explained during an interview that he believes the US will face a financial crisis worse than the “Great Recession” of 2008. Schiff explains that the United States has much more debt than it did then and insists that the U.S. economic recession “will be a much bigger crisis when the defaults start.” Euro Pacific Asset Management Chief Market Strategist Says US Inflation Decline ‘Only Temporary’ As Peter Schiff detailed that he would liquidate his Euro Pacific Bank, the economist sat down to discuss the…
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