Malaysia steps up de-dollarization efforts, aims to launch new currency
The Malaysian government will revisit the idea of creating an Islamic gold dinar and using it as a reserve currency to boost trade with Islamic countries and weaken the impact…
Work on the BRICS payment system is underway – Russian FM
The work on creation of the BRICS single payment system is underway, though it will not be public, the Russian Foreign Ministry’s ambassador-at-large and Russia’s sous-sherpa, or under-sherpa, in charge…
China tightens short-selling rules in a bid to boost stocks
China is tightening restrictions on short selling as the country’s authorities step up efforts to support the stock market. The Securities Regulatory Commission said it’s increasing the margin ratio for…
Burkina Faso to build nuclear power plant with Russia
Burkina Faso and Russian state nuclear company Rosatom signed a memorandum of understanding (MOU) for construction of a nuclear power plant in the landlocked Sahel West African state, Burkina Faso’s…
UK job market ringing the alarm bells
The so-called “Sahm rule” indicates that UK is seeing the sharpest rise in unemployment in the developed world, fueling recession fears that are growing by the day in London. The…
Asia’s different approaches to protect local currencies
Emerging Asia’s central banks have resorted to various ways to protect their currencies as fears of long-term interest rate hikes in the US and rising global tensions drive down the…