Financial stability norges bank

A digital pound must be at the heart of Britain's efforts to strengthen the City of London's global attraction as a financial centre after Brexit , think-tank CityUnited Project said on Friday. The finance ministry is due to set out proposals for making Britain's capital market more attractive after Amsterdam toppled London to become Europe's top share trading centre after the City was cut off from the European Union on Dec. 31. CityUnited Chairman Daniel Hodson said there is now a "swelling majority" in the City that believes it was better to focus on making the financial sector more competitive rather than delaying change in the hope of getting EU access. "A central bank digital currency (CBDC) should be a fundamental foundation for a competitive City after Brexit, otherwise China will steal a long march on us," Hodson told Reuters. China is planning to put its digital yuan to use at the 2022 Winter Olympic Games in Beijing. "The Bank of England is talking about a … [Read more...] about Digital pound would boost post-Brexit City of London, think-tank says

Traders work at the trading floor of Sai Gon Securities Inc. (Photo: VNA) Hanoi (VNS/VNA) - The development of the equity market will help promote the transparency and corporate governance of listed companies, especially public companies with State capital , an official has said. The statement was made by Dang Quyet Tien , director of the finance ministry's Corporate Finance Department, during a recent seminar in Hanoi. “This will help boost the volume of transactions in the stock market, increasing the liquidity for State shareholders,” Tien said. “There is a problem that has persisted for many years in most State-owned enterprises, which is the ineffectiveness in the management and use of State capital,” he said. “The development of the equity market would help State-owned enterprises be less dependent on bank credit loans, diversifying forms of capital mobilisation.” The Vietnamese stock market has seen remarkable development since its inception, but the … [Read more...] about Thriving equity market helps boost business transparency

In this series, AsiaOne speaks to individuals who find themselves changing careers and steering their lives in a new direction, whether by choice or circumstance. Jon Yongfook Cockle did what many wouldn't at the peak of their career in 2018. Then 38, he quit his cushy job in Singapore as Aviva's Head of Digital Product & Design to bootstrap his own startup. He also set himself a formidable challenge: to launch one product every month for a year. By his own admission, his corporate career looked great on paper. He was drawing a good salary of about $15,000 a month and was also leading a great team. But something gnawed at him. The experienced software developer shared with AsiaOne that it was clear to him that he had "reached the peak of [his] career". "Any higher in rank and I would be looking at a much more political-style role where your job is more about influence and relationships rather than hands-on building stuff. "I'm really good at the latter, and terrible … [Read more...] about Man quits $15k Singapore job to build own startup, matches previous salary after 3-year grind

The number of multimillionaires in Hong Kong hit a record high last year – despite the city recording its worst recession on record because of the pandemic – according to the results of a survey released by Citibank on Thursday. As many as 515,000 people in Hong Kong were estimated to have HK$10 million (US$1.28 million) each in total assets last year, up from 413,000 in 2019, according to Citibank’s Hong Kong Affluent Study 202 0, which was conducted between November last year and January this year. A multimillionaire is defined by the bank as someone who has more than HK$10 million in total net assets and at least HK$1 million in liquid assets. “The population of Hong Kong multimillionaires continues to grow unabated during the pandemic, and has even set a record high,” said Josephine Lee Kwai-chong, Citibank Hong Kong’s head of retail banking. “Even with the outbreak of the pandemic, governments around the world have taken measures to save [their economies] and stabilise the … [Read more...] about Hong Kong’s multimillionaire population hit record high last year even as its economy had its worst recession on record

advertisement advertisement advertisement Once a country’s economy reaches a certain level of wealth, gross domestic product—which puts a single dollar value on a country’s total economic output—is no longer a good measure of its overall success. advertisement advertisement That’s a main finding of our economic research, published in March with the Organization for Economic Cooperation and Development . When we examined the development of nations worldwide since 1820, we found that among rich Western countries such as the United States, the Netherlands, and France, improvements in income, education, safety, and health tracked or even outpaced rising gross domestic product for over a century. But in the 1950s, even as economic growth accelerated after World War II, well-being in these countries lagged. From the 1970s onward, growth in median incomes slowed down, as did education . Crime rose . In recent years, health … [Read more...] about The pandemic recovery needs to be measured in well-being—not just GDP