Podcasts about agricultural bank

El Sisi yesterday instructed cabinet to implement a package of incentives to support industrial activity and accelerate localization.-Provide new industrial projects in specific sectors a five-year exemption from all taxes, excluding VAT, provided the projects are up and running within three years.-Businesses that get their projects operational in half the agreed upon time frame will receive a 50% discount on the price they paid for the land.-Expand the granting of golden licenses to all the projects working to enhance localization.EXPA, the Agricultural Bank of Egypt, and aiBank have until 23 August 2024 to align their regulations with the 2020 Banking Act, after President Abdel Fattah El Sisi ratified the bill of establishing laws. Delegations from Egypt, Ethiopia, and Sudan met in Cairo on Sunday to begin a new round of talks over the Grand Ethiopian Renaissance Dam.General Authority for Investment and Free Zones received requests from Chinese investors to inject investments into the local market in yuan to escape the dollar dominance.Chinese textile manufacturer Zhejiang Cady Industry will invest USD 60 mn to establish a factory in Ain Sokhna.Network International intends to invest EGP1 billion in the Egyptian market over the coming three years. Unnamed investors are eyeing the purchase of Gulf Capital's entire 37% stake (23.1 mn shares) in EGX-listed Middle East Glass (MEG).The government is planning to issue six more pellet steel production licenses to major foreign investors or local-foreign consortiums in 2024. Government is now prioritizing foreign companies to attract FX into the country.Russia-based steel maker Novostal M plans to invest USD400-500 million to set up a steel factory in Egypt.The government broke ground on its EGP1.5 billion strategic warehouse in Luxor yesterday which is planned to take 18-24 months to build. ORAS (FV: EGP181.70, OW), Hassan Allam Utilities, and Samcrete are executing the project. Misr Chemical Industries issued the net profit figure for July 2023 that amounted to EGP38 million, up 6% MoM and 71% YoY.  MICH stated in its BoD release that net profit for July 2023 increased thanks to higher production volumes and sales prices. MICH is trading at FY22/23 P/E of 3.37x.Weekly Commodities |  Last Price           WoW Change, %Brent, USD/bbl  84.5      -0.4%Diesel-HSFO Spread, USD/ton     413.3    8.1%Egypt Urea, USD/ton      467.0    0.0%Polyethylene, USD/ton  1,070.0 0.0%Polypropylene, USD/ton              940.0    2.2%Steel/Iron Ore Spreads, USD/ton             377.1    0.0%LME Aluminum Cash Price, USD/ton        2,113.7 1.2%Egyptian Retail Cement, EGP/ton             1,917.5              12.1%Steam Coal FOB Newcastle Australia, USD/ton    149.4              -0.1%SMP, USD/MT   2,333.0 -4.9%

*Key news articles for today*United States Inflation fell to 4.0% y-o-y in May — its lowest level in 27 months and down from 4.9% the month prior. Thus, the Fed is widely expected to leave rates unchanged. Egypt and Iraq signed 11 MoUs yesterday during Iraqi Prime Minister's visit to Cairo. El Sisi discussed boosting ties on economic cooperation, trade, investment, and the upgrading of infrastructure. The Minister of International Cooperation signed a development financing agreement worth USD 460 million with the State of South Korea for the second and third lines of the Greater Cairo Metro. The Urban Development Fund has received offers from local and foreign investors to participate in developing the capitals of the major governorates at an estimated cost of EGP600 billion. The Finance Ministry has invited local and international banks to pitch for an advisory role on the sale of its 20% stake in Bank of Alexandria (Alexbank). Intesa Sanpaolo purchased 80% of its shares for USD 1.6 bn in 2006. AlexBank achieved a net profit of EGP1.2 billion in 1Q23, with estimated profits of EGP4 billion in 2023. Book value stood at EGP15.5 billion in Mar-23. The House of Representatives yesterday approved a government-proposed bill that will revoke the establishment laws of the Arab Investment Bank (aiBank), the Export Development Bank (EBank), and the Agricultural Bank of Egypt. The newly-approved bill aims to align these lenders with the current banking regulations, ensuring parity among all banks operating in the country. EXPA's establishment law makes no distinction between ownership and management rights and places limitations on who can own shares in the bank, which should change with the new laws. EXPA will now be open to foreign ownership. Stock is amongst the cheapest in Egypt with 2023 P/E of 3.4x and P/B of 0.6x.   JAF Investment has obtained the approval of FRA to proceed with the transfer of shares in two subsidiaries of Arabia Investments Holding (AIH), the 30% stakes in UE Finance for EGP 147 mn and Rawaj Consumer Finance for EGP 30 mn. Some of the steel manufacturers in Egypt were forced to shut down their factories and trim or stop production due to the lack of foreign currency needed to import raw materials. We remind you that ESRS exports have been on the rise since 4Q22 to secure the foreign currency needed for importing raw materials, which should remain to be the case supported by the commercial launch of EFS's new furnace. MBSC submitted documents to decrease its paid-in capital to EGP679.3 million distributed over 67.9 million shares, down from EGP750 million distributed over 75 million shar es through cancelling 7.07 million treasury shares.MOPCO might witness another acquisition amid a strong market appetite from Gulf investors to increase their shares in the company. Sources clarified that the board members of MFPC are buying heavily in the stock.  TAQA will start trading on EGX within two weeks.  MICH reached an initial agreement with two private sector companies to form a new company with an authorized capital of EGP1 billion and issued capital of EGP600 million for producing chlorine granules (TCCA). MICH will hold a 12% stake.  The value of pharmaceutical raw materials that are stuck at Egyptian ports is around USD150 mn and could be cleared by the end of June, according to local press. PHAR denied receiving Saudi offers to acquire a stake in the company, in response to news of an expected Saudi acquisition of 75% of the company's shares. The Ministry of Communications is negotiating with a number of international companies specialized in manufacturing mobile phones to participate in localizing the electronics industry. 

Was ergibt (1x tolle Idee) + (1x Bank) + (1x Lotterie)? Keine Ahnung, kann nicht so gut Mathe wie Ren Xiaofeng - also besser einfach reinhören. Mit Reichwerdgarantie! Viel Spaß!

Follow us on Instagram @shaysbeautydiary @shnail_latrece --- Send in a voice message: https://anchor.fm/crimenwine/message Support this podcast: https://anchor.fm/crimenwine/support

In the next webinar, we welcome Smartkarma Insight Provider Evelyn Zhang who will share with us her views on the current climate of investments in China, along with her top picks and insights for investors. Have any questions about the investing climate in China? Get your questions answered in the live Q&A session that will conclude the webinar. -- With over a decade's worth of experiences in Morgan Stanley, Bank of America Merrill Lynch, Agricultural Bank of China, Lenovo, Evelyn's expertise includes research and investment into tech companies of all stages. Experienced in asset management, private equity, strategic investment, investment banking, equity research, corporate finance, Evelyn is particularly focused on emerging technology. Follow her work here. -- This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma's views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.

The CBE is mulling a handful of options as part of its strategy to increase FX liquidity. The options reportedly on the table include:1.            Offering service and funding incentives in exchange for tourism operators and hotels depositing their FX in local banks;2.            Launching USD-denominated savings schemes for Egyptian expats;3.            Easing banks' regulatory requirements (including KYC regulations) for customers making USD deposits;4.            Mulling the use of USD derivatives. Egypt's economy grew by 4.4% YoY in 1QFY2022/23,Planning Minister said. The Planning Ministry is now expecting the economy to grow by around 5.0% in the full FY2022/23, down from the 5.5% expected earlier in the budget. BP has been awarded gas exploration rights in two offshore blocks in the Mediterranean Sea. The company has now been awarded four blocks so far this year, along with a block extension. Pachin will brief shareholders on acquisition offers it has received in its ordinary general assembly on Tuesday, 20 December. Dubai-based National Paints Holdings is offering to purchase 100% of Pachin for EGP29 per share, far outbidding earlier offers. The CBE extended the deadline that requires banks to increase the portion of SME's loans to 25% of their total loan portfolio to December 2023. Less than 6.1k passenger vehicles were sold during the month of October, down 69% YoY, according to AMIC figures. Feed supply shortages continue casting pressure on selling prices, despite the Ministry of Agriculture reaching an agreement with the central bank to release all commodities inventory stocked at the ports.  The Egyptian Holding Company for Silos and Storage and the Agricultural Bank of Egypt are setting up a new company for silos and warehouses named Ard Misr (Egypt's Land), according to a Supply Ministry statement. Damietta Port Authority plans to launch a tender during the next month to start connecting the utilities to "Tahya Misr" container terminal.  The Holding Company for Maritime and Land Transport is planning two tenders for the supply of wires for berth and yard cranes at three container terminals during the next month.   Weekly Commodities Update:  | Chems & Petchems | | Last Price | WoW Change, % | Brent, USD/bbl | 81.0 | -6.7% | Diesel-HSFO Spread, USD/ton | 532.0 | -7.5% | Egypt Urea, USD/ton | 560.0 | -1.3% | Polyethylene, USD/ton | 1,030.0 | -4.6% | Polypropylene, USD/ton | 930.0 | -1.6% | Steel/Iron Ore Spreads, USD/ton | 441.8 | 2.0% | LME Aluminum Cash Price, USD/ton | 2,329.6 | -1.1% | Egyptian Retail Cement, EGP/ton | 1,624.0 | 0.0% | Steam Coal FOB Newcastle Australia, USD/ton | 349.4 | -0.5% | SMP, USD/MT | 3,057.0 | 2.9% 

The International Finance Corporation could provide USD83 million to an Emirati-Japanese consortium to part-fund their planned 500 MW wind farm in Ras Ghareb.An EGX subsidiary has signed an agreement with the Agricultural Bank of Egypt and Libra Capital to establish Libra Carbon, the first Egyptian company to develop, manage, and issue carbon certificates.Building materials exports recorded USD5.1 billion during 9M2022, up 7% YoY.Egypt launched the “A decent life (Haya Karima) for Africa resilient to climate change” initiative during COP27.An agreement allowing diplomats to officially debate for the first time who should pay for damage sustained by the countries most vulnerable to climate change was announced on the first day of COP27.SKPC 3Q22 net profit came in at EGP276 million (+27% QoQ, +268% YoY), bringing 9M22 net profit to EGP744 million, up 108% YoY. SWDY is planning to bid, in a consortium, for water desalination stations this month. SVCE 3Q22 net profit reached EGP33.3 million, versus losses of EGP67.4 million in 3Q21, shrinking 9M22 losses to EGP84 million versus losses of EGP143 million in 9M21.CIRA closed its EGP800 million future flow issuance as part of a larger EGP2 billion future flow securitized bond program.EGTS's court date for the 20.0 million sqm third phase Sahl Hasheesh land plot lawsuit is postponed to 10 December 2022.CPCI 1Q22/23 net profit increased 163.8% QoQ and 4.8% YoY to record EGP39 million.EasyJet is coordinating with 71 hotels in Hurghada and Sharm El Sheikh in an effort to bring in more British tourists.

In this episode, recorded on 10 September 2021, we have the pleasure of welcoming Insight Provider Evelyn Zhang, who examines the impact of recent policy decisions on the future of China's tech companies. Follow Evelyn's work: https://skr.ma/Nw38gLPVBVcN691s8 Evelyn Zhang has over a decade of experience at firms like Morgan Stanley, Bank of America Merrill Lynch, Agricultural Bank of China, and Lenovo. Her expertise includes research and investment into tech companies of all stages. She has a particular focus on emerging technologies, but is experienced in asset management, private equity, strategic investment, investment banking, equity research, and corporate finance. This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma's views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.

In this episode we look at the biggest bank heist in China's history and the absolute rollercoaster ride that follows. If you're looking for a high stakes thrillride of a heist that is nothing like you're imagining - this episode hits the jackpot. Pete is joined by comedian and author Emily Winter.  Emily's new book, "Smarter Every Day" hits stores October 12, check it out!Pete's book, "HEIST" is officially hitting stores October 19 and is officially available for pre-order now at the link below: https://www.barnesandnoble.com/w/heist-pete-stegemeyer/1138726053?ean=9781951511067

Tune in as the IIB's Director of Strategic Communications, Meghan Milloy, joins Sid Kamaraju, partner in Pryor Cashman's White Collar Defense + Investigations, Financial Institutions, and Litigation Groups, Lisa Prager, General Counsel and Executive Vice-President at Agricultural Bank of China, and Josh Shrager, Senior Vice President at Kharon as they discuss Magnitsky Act sanctions, complications for foreign banks, and solutions thereof.

Welcome to Finance and Fury. This episode is to look at Central bank digital currencies - Central banks releasing digital currencies is an inevitability at this stage - proof-of-concept programmes are currently in the works across the globe - with more than 80% of central banks looking at digital currencies – The RBA is one of them There is a lot of cover in this topic – we will define a central bank digital currency and go through why central banks are looking at pure digital currencies as an option – We will also look at what is happening in China with their plans for the distribution of the digital yuan – but also look at the alternatives the RBA is looking at   Defining the different forms of currencies in the modern monetary economy – physical and digital Physical money is easy - Think of cash in your wallet – either in notes or coins – this is physical money – when you log into your bank account and see digits on a screen – this could be considered a digital currency – but you can still convert these digits into physical money Digital currency is the name given to the electronic equivalent of physical money or cash when it is issued in a purely digital form Digital currency is managed, stored or exchanged on digital computer systems over the internet. Types of digital currencies include cryptocurrency, virtual currencyand central bank digital currency Under current legislation – you can still convert your digital currency into fiat currency, hence physical – you can withdraw digital forms of money – i.e. exchange BTC for AUD, then withdraw this AUD Currently – the digital representation of your physical money can be used via payments technologies such as online banking and electronic financial transaction point of sale – EFTPOS for short These payment methods are linked to commercial bank accounts in your own name, as well as deposit-taking mobile wallets, and gift, credit or debit cards – most people listening would have most likely used this form of payment – transferring the right to a physical currency digitally A CBDC is different to cryptocurrency – or cryptoassets based around the terminology used in legislative frameworks these are government sanctioned and centralised in their production – exactly like physical money - a cryptocurrency such as BTC or ETH does not – it is decentralised A CBDC would still have a ledger – but this would be centrally controlled and fully integrated into the financial payments system Currently - Every single day - Central banks are issuing conventional digital money to commercial banks that can then be exchanged with cash at par value – you go to an ATM to withdraw digital representations of your dollars for physical ones – the internet revolutionised this in the financial system banks used to have to store more physical currency – or at least a paper entitlement to this – to meet the demand of consumer payments - digital was never a consideration – with the decline in physical currency demand – less economic activity is conducted in this manner – so banks need to hold less physical cash - I remember going to Coles with my grandparents when I was a kid – they would take out cash for their weekly spending and pay in cash for everything – because this was how things were done in their day – today – credit and debit cards have mostly replaced cash payments In the current monetary economy - the RBA actually does issue digital currency to commercial banks through the provision of money into each bank's account within the exchange settlement account (ESA) system — However – there is no major central bank that purely issues digital currency directly to the public Whilst most currency that exists is digitised – it can still be transferred into physical currency Plus – you don't get your digital cash from a central bank – you get it through commercial banks The transfer of the monetary system from a physical currency to a digital one would be a form of a monetary reset - Let's take a step back and look at the previous monetary reset that occurred – Under the gold backed currencies – you could convert your paper money for gold at the equivalent pegged value – until this was banned by Governments on the population – in the US from 1933 – but other Central banks could still convert currency for gold under the Brenton woods system – until 1971 when any form of gold standard was abandoned Think of a Central Bank Digital Currency as a similar process of reducing your financial freedoms – you can currently convert your digital money into physical money – but when the nation adopts a pure digital currency policy, this is no longer possible – no more physical cash – everything is digitised – the same as when the population was no longer allowed to convert the currency for the asset backing it – i.e. gold This brings us to a core component of this episode – the People's Bank of China (PBoC) – which is one of the most prominent central banks globally, aims to be the first major central bank to issue digital currency for use by the general public and business – replacing physical cash This digital yuan will be fully produced and backed directly by the Chinese central government The underlying technology for this is different to the blockchain ledger, and will be controlled by the Chinese government and not distributed across the Chinese financial system - or any other nodes – like a decentralised ledger that crypto operates on   Why do Central Banks – particularly China's want a digital currency? Based around the released papers - it is suggested that the Digital Currency electronic payment system will alleviate the risks to the financial system that are present with both physical money or cryptocurrency transactions – these are anonymous counterfeiting, money laundering and illegal financing This sounds like a great argument if you are a monetary official – on the surface - because under a purely digital currency, monetary regulators can completely monitor digital currency transactions – for them this is a major plus as they will greatly increase their financial and monetary supervision capabilities – but what about for the individual in the economy – who makes up the economy So, Governments and Central Banks want to track every transaction that someone makes – this is firstly in an aim to reduce the black market economy Black market economies emerge to fill in the gaps of an imperfectly legislated economic environment – with tradies in Australia – the 10% discount to pay in cash to avoid GST In other nations that are highly regulated through central planning – black markets emerge to provide goods as well as currencies to fill in a gap – because of limitations of government controls – these sorts of economies exist mostly in communist/socialist economies like Venezuela and North Korea Where there is demand – people will find a way to fill this through providing the supply – whether it be food or drugs – if people want it and the government wont allow it – it will likely find its way onto a black market The black market fills a hole to reduce the inefficiency of the government – allows the economy to function at a greater capacity than it would under a complete governmental control – hence, the introduction of a pure digital CB currency removes this natural phenomenon to help right any wrongs that central planning creates This is particularly relevant in nations which complete central planning – socialist/communist countries like Venezuela and North Korea, or the USSR, China and Cuba in the past – the only way for people to get an allocation of food was often through the black market – but at imperfect prices due to market disruption All of these operate on cash – which cannot be tracked and measured by the government - It actually creates a completely centralised and controlled economy – the monetary authorities may view this as a win – but for the every day individual, this limits their ability to maximise their economic output – the greater limitations occur in situations where economic transactions are limited by government – countries like Australia are relatively free – but in countries like China – this could really reduce the individuals living standards if they are both cut off from cash payments and restricted in the digital payments – The most alarming factor of all of this – especially for China – this relates to their social credit score system – monitoring what you spend your money on – allows them to allocate you a score If you spend too much on alcohol, or if you are hoarding too much cash and not being a productive member of society through investing or spending this, well – you will see your score lower – even if you are friends with an alcoholic – your score will lower – then you save, spending money, cannot travel, find accommodation to live and you become homeless quickly as you are completely cut off – you can also not beg for money This digital Cb currency from China has the added element of being able to piggy back onto what is already an incredibly authoritarian system of control of its population – where if you score is also too low – now you no longer have the right to access this currency and you are shut off – with no method of redemption From an Economic perspective – monetary officials want to create the perfect world – where they can measure spending down to the exact dollar and manipulate the economy through making adjustments to the money supply and interest rates – they can also get a measure on inflation They have been trying to do this for decades but with little effect – think about monetary policy for a minute – the control over interest rates is aiming to control behaviours of individuals that make up the economy – if there are lower interest rates, this based on the rational models that entities like the RBA have, which theorises that a lower interest rate should decrease the incentive to save cash and instead people will spend it – this should then increase inflation and then interest rates can increase over time – but these models aren't perfect – as unintended consequences occur – what happened in practicality is that the lowering of interest rates to help increase inflation resulted in credit growth – i.e. mortgage sizes – where people were borrowing more money – whilst interest rate payments were lower per dollar borrowed, people now had more borrowed dollars – so total interest rates did decrease, but loan repayments for principal increased – resulting in more money flowing into debt repayment – hence less being spent in the economy – therefore the inflation never materialised as hoped Monetary officials think that these models aren't perfect because they don't have complete data – they don't know how much exactly each individual is spending and where they are spending this – plus, inflation is currently measured by around 0.8% of households keeping a manual diary and reporting this back to the ABS – would be much easier to have a direct line to every transaction you make and measure the relative price increases – this equals a completely centralised and controlled monetary system What they never understand is that there I no way to control a complex system like the economy – any model is never going to work as the economy is non-linear – i.e. if you put in $100 to the economy expecting a multiplier of 2 under a linear system – you would get $200 – under a non-linear system you could get $20, -$50, $100 – who knows – inputs do not equal outputs In addition – thin about Welfare payment that governments and central banks can make – a recent proposal was made in limiting spending and transactions to a card where it could only be spent on food or other essential goods – no alcohol or withdrawn as cash to spend on who knows what – this would fulfill this if CB digital currencies came into existence But also – Digital currencies in their pure form are only from CBs to commercial banks – the invention of digital CB currencies allows for the expansion of helicopter monetary policies The payment directly from a CB to your bank account – this is the basis for economic policies such as UBI based around modern monetary theory – MMT So these CB digital currencies allows for a circumvention of fiscal policy – no longer goes a government decide on welfare payments – CBs can directly pay individuals as the commercial banks would no longer be required as a financial intermediary The end result of this is Central Banks increasing their Control over the economy – We already do don't have a free market economy – money is the life blood of any economy – it is what facilitates the exchange system of the economy – but the control of the supply of money and the interest rate control affecting incentives to save or spend has completely destroyed the natural state of the economic and business cycle What is even more telling about the potential implications for us – is when looking at a speech given by the Bank of England's chief economist in 2015 – where CBDC would be the ideal mechanism to implement negative interest rate policies – if you get charged to save, then you would withdraw your cash savings and put it under your mattress – but if this is not possible, you would have no options to either spend or invest the cash Increase spending – from both the population but from a central bank through just issuing more digital currency – as well as economic transfer payments directly to the population – if this doesn't come from a government, and from the creation of the money supply – it isn't technically debt represented on a balance sheet anywhere Under the current economic environment – for governments to spend money they don't have, they get into a deficit and fund this through issuing a bond – with digital currencies directly issued from a CB – no government debt From a central bank's point of view – a digital currency can also reduce the costs involved in handling, maintaining and recycling banknotes and coins throughout financial systems and economies It is true that it does cost money to print dollars and produce coins – There can also be currency shortages - Coin shortage in the US at the moment – the costs go up over time to produce these assets, whilst inflation reduces the real value of the currency I did some maths for Australia – looking at the 20c coin – it weighs 11.3g – and constitutes 75% copper and 25% nickel – well at current market prices this represents around 7c of nickel and 11c of copper – so even the raw materials are worth around 18c – let alone the manufacturing costs – so in producing a 20c coin, the RBA may actually be losing money if commodity prices continue to rise     China is serious about this – they are rolling it out - It will initially be distributed to all commercial banks affiliated with the Chinese central bank such as the Agricultural Bank of China First phase - it is designed as a replacement for China's Reserve Money (M0) – this is the monetary reference to central bank notes and coins – it is essentially the base money supply on which banks can extend the money supply to commercial banks Second Phase - it will be distributed to large fintech companies such as China's Tencent and Alibaba to be used alongside their WeChat Pay and Alipay inhouse payments respectively The first public testing is already going on - in October 2020 - China's central bank issued 10 million yuan ($2 million AUD) of digital currency to 50,000 randomly selected consumers This digital currency is available for transactions across 3,389 retail outlets in Shenzhen Next phases of testing - 4 key cities are going to be the first cities to test the use of the DCEP These cities will be closed economies – where pilot tests and this is testament of digital currencies - Beyond this first stage of domestic integration – China is thinking of internationalising the RMB by offshoring the yuan into Hong Kong and Singapore Multinational foreign firms – companies such as McDonalds and Starbucks will also take part in the DCEP testing alongside local hotels, supermarkets, postal lockers, bakeries, bookstores, gyms   Does this relate to Australia and why would cash disappear? Studies by the Reserve Bank of New Zealand (RBNZ) suggest there are two main reasons why cash could disappear Cost - The relative cost of its use of physical cash compared to digital methods – as we went through earlier in the episode – the major reason to get rid of a fiat cash is if it is worth more than what the value you attribute to it is – i.e. why spend 0.21c to produce a 0.2c coin?   Undesirable outcomes – Central banks think that physical cash has a socially undesirable outcome – i.e. the attractiveness for tax evasion, money laundering and illegal transactions In Australia - large-scale cash transactions have been deemed such a social risk that in 2019 the Currency (Restrictions on the Use of Cash) Bill 2019 was introduced in Federal Parliament to ban cash transactions over $10,000 – this is a step to limit cash How the RBA views this topic on alternative digital payment methods Australia's digital version of the Australian dollar (AUD) will be some way off In 2020 - The Reserve Bank today announced that it is partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software, a blockchain technology company, on a collaborative project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). This is part of ongoing research at the Reserve Bank on wholesale CBDC. From a central bank/governmental perspective - The benefits have been acknowledged to include improved financial tracking cost reductions from reduced production and general handling of coins and banknotes. In China, Australia and elsewhere, the cashless trend is seen to be strong with both business and consumer habits seen as key drivers in the likely seamless adoption of a DCEP.  China is the first mover – where they are cracking down on crypto assets – as they are implementing their own digital currency - China wants complete control – any nation that implements this also likely wants complete control Be prepared for the next decade of change – as central banks adopt digital money – replacing physical currency Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/ 

❤️ Loved it!👎 Meh…Summary transcript: https://www.listory.com/ll/975302c958e5cb65af68fe8f414f55fd4f6158eeOriginal story: https://www.coindesk.com/ether-drops-bitcoin-wiltsDescription: Bitcoin, ether, and other cryptocurrencies are falling after the Agricultural Bank of China reiterated its crypto ban in a now-deleted statement.

In Today's video we talk about How China Shuts Down Crypto Buying  the latest statement comes after consultation with the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank, Industrial Bank and Alipay (China) Network Technology on the issue.  Other top cryptocurrencies including XRP, cardano and polkadot are nursing losses ranging from 5% to 10%. --- Support this podcast: https://anchor.fm/cryptologicpod/support

In Today's video we talk about How China Shuts Down Crypto Buying  the latest statement comes after consultation with the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank, Industrial Bank and Alipay (China) Network Technology on the issue.  Other top cryptocurrencies including XRP, cardano and polkadot are nursing losses ranging from 5% to 10%. --- Support this podcast: https://anchor.fm/cryptologicpod/support

Using the stolen money to buy lottery tickets, two vault managers embezzled over 50 million yuan from the Agricultural Bank of China. Guest hosted by Greg Polcyn from Cults, a Spotify Original from Parcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ashley tells Jess about the series of inside thefts committed at the Handan branch of the Agricultural Bank of China from 2006 to 2007, and yes, we promise this is a true story, even though it sounds like it has to be a movie. Totaling 51 million yuan in stolen bills, the Agricultural Bank heist is the biggest in the history of China. Plus, there’s an unexpected connection to the Beijing Olympic Games.If you have story requests reach out to us at StudyingScarletPodcast@gmail.com-----------Our Links:Facebook link - StudyingScarletPodcastTwitter - StudyScarletPodInstagram - StudyingScarletPodcastTeepublic - StudyingScarlet

Представляем вашему вниманию запись нового онлайн-семинара Cbonds, посвященного рынку внутренних облигаций Китая. Язык семинара – английский. В рамках семинара Александр Бударин (Cbonds) раскрыл основную статистику рынка, презентовав ее на платформе Cbonds, Фиби Лян (Bond Connect) рассказал о возможностях доступа на внутренний рынок через платформу BondConnect, Терри Чжан (Pengyuan International) побеседовал о кредитных рейтингах и рисках на рынке, Мишель Чжан и Хейли Хэ (Agricultural Bank of China) поделились информацией об альтернативных каналах доступа на внутренний рынок облигаций, а также опытом инвестирования на рынке.

Welcome to Episode 20 of the Asian Hustle Network Podcast! We are very excited to have Amanda Ang on this week's episode. We interview Asian entrepreneurs around the world to amplify their voices and empower Asians to pursue their dreams and goals. We believe that each person has a message and a unique story from their entrepreneurial journey that they can share with all of us. Check us out on Anchor, iTunes, Stitcher, Google Play Music, TuneIn, Spotify, and more. If you enjoyed this episode, please subscribe and leave us a positive 5-star review. This is our opportunity to use the voices of the Asian community and share these incredible stories with the world. We release a new episode every Wednesday, so stay tuned! Amanda Ang is the founder of August Bespoke, a custom jewelry house that helps couples skip the cookie-cutter experience of traditional stores and create one-of-a-kind engagement rings to celebrate their love story. She was introduced to gemology at a young age by her mother, a passionate gemstone collector, and was inspired to start August Bespoke to help her friends who didn't know who to trust with such a symbolic and important long-term investment. Amanda is certified in diamonds and colored gemstones by the Gemological Institute of America (GIA) in New York City - one of the largest and most important diamond markets in the world. Prior to founding August Bespoke, Amanda's career has spanned multiple industries. After graduating from Boston College with a degree in Finance, she became a star analyst at Goldman Sachs in New York where she helped launch some of the most exciting and important Asian IPOs of the time such as AIA, Agricultural Bank of China, and China's version of YouTube. After leaving Wall Street, Amanda did a brief stint as a travel and food writer, before moving into the startup world. There, she led international expansion efforts for a Japanese marketplace called Voyagin (the predecessor to Airbnb Experiences) into new countries like Indonesia, Hong Kong, and Taiwan. Her team's international success led to an eventual acquisition by Rakuten, Japan's largest e-commerce platform. Amanda is passionate about supporting female entrepreneurs and is excited to be building a company with heart in a traditional, male-dominated industry. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/asianhustlenetwork/support

On todays show:  - If you think that Early Earth, without industrial pollutants from humankind whatsoever, smelled fresh and natural, you'd be in for a rude and stinky surprise. Scientists say billions of years ago Earth smelled like rotten eggs. - Hipsters take note: Your much-loved facial hair may contain more feces than a toilet. And the research (Aston University) has confirmed beards can spread bacteria. The study looked at whether surgical masks caught bacteria falling from surgeons faces, and whether having a beard affected how many bacteria fell. What they found was that men with beards do harbor a significant number of bacteria, more than non-bearded men and women. WACKY-BUT-TRUE: MAN BURIED $280,000, NOT A GOOD INVESTMENT _ Five years ago, a farmer in China buried the equivalent of $280,000 on his property. Unfortunately when he recently dug up the cash, the bills were completely falling part. Apparently, employees at the Agricultural Bank of China did the best they could to separate the mess of deteriorated paper bundles but he still lost about 25 percent of his savings. WACKY-BUT-TRUE: 5-YEAR-OLD DRIVING CAR ON UTAH FREEWAY _ A member of the Utah Highway Patrol stopped what he thought was an impaired driver. Turns out it was a 5-year-old who somehow made his way onto the freeway in his parents' car. WACKY-BUT-TRUE: WOMAN ARRESTED FOR LICKING SPREE _ A woman who allegedly licked her hands and touched food items and several surfaces at a South Carolina grocery store and sandwich shop was arrested. Shenir Gibson Holliday was taken into custody Saturday after police (in Sumter) responded to reports of a suspicious person at an IGA grocery store. Police said surveillance footage from the store showed Holliday licking her hands and coughing before touching food items and freezer doors. The incident came after the manager of a sandwich shop said a woman was seen licking coins and putting them back in the shop's tip jar the previous week. The shop's manager said the woman also licked her hands before handing money over to the clerk and touched the shop's debit card machine. WACKY-BUT-TRUE: BACKHOE JOYRIDER CAUSED $13K IN DAMAGE _ Police have arrested a man accused of jumping on a backhoe and trashing a construction site in Bridgeton, New Jersey. Damien Long is accused of entering the site, firing up the backhoe and joyriding around the property. He allegedly smashed an electric utility pole, breaker box, an office trailer and the backhoe, causing around $13,500 in damage. WACKY-BUT-TRUE: OLD GUY DRIVES ONTO RUNWAY _ In Norway an 80-year-old driver was on his way home when he got a little confused. He took a wrong turn and drove through a locked gate, past an airplane hangar and right onto the runway of the local airport. WACKY-BUT-TRUE: MAN WEARS KKK HOOD AT GROCERY STORE _ May is mask month in many states and a guy decided the best way to keep his germs from getting all over everyone else was to wear a KKK hood while grocery shopping. Photos of the covidiot were taken at a store in Santee, California. Staff at the grocery store asked the customer to remove the hood, and all requests were ignored until the customer was in the checkout area. • https://twitter.com/RolfFunCycleIII/status/1256800317502603264 (IMAGE) WACKY-BUT-TRUE: COVIDIOT CUTS HOLE IN MASK TO MAKE IT ‘EASIER TO BREATHE' _ A Kentucky woman was captured on video shopping with a hole cut in her face mask, claiming that it made it “easier to breathe.” A gas station clerk is heard asking the the woman entering his convenience store why she has a hole in her mask. She tells him, “Well, since we have to wear them and it makes it hard to breathe, this makes it a lot easier to breathe.” Entertainment News Question of the Podcast - What is something that everyone should be trained to be able to do? 13 little etiquette rules to follow when dinning at a restaurant Fun Facts ✓ A normal static electricity shock that zaps your finger when you...

This week saw the latest salvos in the battle for the future of money.  Libra announced that it would be moving away from a single currency that was backed by a basket of national currency to a model of numerous individual fiat-pegged currencies. While the original model was akin to a disruptive implementation of John Maynard Keynes original concept for a global basket currency (which he called a “bancor”), this model seems more to position Libra to help existing central banks digitize their currencies.  China meanwhile steamed forward with its digital currency and blockchain plans. Screenshots of an app from the Agricultural Bank of China show how the DCEP digital currency is currently being tested, giving us insight into functionality, geographies and players involved.  China also announced the 71 members of its National Blockchain Council, as well as went live with their Blockchain Service Network. The BSN in particular has potential significance on a world scale as China tries to build and control a key piece of global digital infrastructure.

This week saw the latest salvos in the battle for the future of money. Libra announced that it would be moving away from a single currency that was backed by a basket of national currency to a model of numerous individual fiat-pegged currencies. While the original model was akin to a disruptive implementation of John Maynard Keynes original concept for a global basket currency (which he called a “bancor”), this model seems more to position Libra to help existing central banks digitize their currencies. China meanwhile steamed forward with its digital currency and blockchain plans. Screenshots of an app from the Agricultural Bank of China show how the DCEP (Digital Currency Electronic Payment) is currently being tested, giving us insight into functionality, geographies and players involved. China also announced the 71 members of its National Blockchain Council, as well as went live with their Blockchain Service Network. The BSN in particular has potential significance on a world scale as China tries to build and control a key piece of global digital infrastructure.

In this episode, Harry and Harry Rob a bank. also.... what we've all been waiting for...

On this episode of Heist Podcast Matt and Simon cover the biggest heist on Chinese soil, the Agricultural Bank heist . Where the culprits used all their loot to buy lottery tickets. Did they win? Stick around to find out. Also we jump into a Yoko Ono heist in the news and ask our listeners for some legal advice. HEIST!

We are back to our more rounded format for this episode on a variety of topics including anti-corruption enforcement across the globe, the new French anti-corruption law, Sapin II, the Agricultural Bank of China compliance enforcement action by the state of New York Department of Financial Services; how corruption influences as much as it pays money and individual accountability for corporate malfeasance is not a Democratic or GOP issue but a law enforcement issue. We end with a well-deserved one minute rant from the panel about what is in the front of their mind. Mike Volkov discusses the internationalization of anti-corruption enforcement. He refers to the comments from the ACI FCPA conference, by Kara Brockmeyer and Dan Kahn about the increasing international enforcement efforts against corruption. This extends far beyond cooperation but also to enforcement. Recent examples are VimpelCom and Embraer where other countries received proceeds from fines and penalties. How does a company begin to deal with this type of complexity? Who does it disclose to? Who does it pay? When will the US give credit for payments made to other countries and when does it not? Finally this year saw of the third joint DOJ/SEC week long training for foreign prosecutors put on in DC. How do such events assist enforcement efforts, particularly around cooperation and mutual assistance? For Tom Fox’s blog post, “Anti-Corruption Enforcement Has Gone International?” click here.  Matt Kelly leads a discussion dive into the AgBank enforcement/sanction action. He explains what does it all means and then pivots into a discussion of where he might see state regulators such as the state of New York Department of Financial Services or state banking regulators becoming more aggressive if the Trump administration pulls back? He discusses how these issues may have relevance for areas of compliance other than bribery and corruption and if so how. Finally, he ends with a reverse states’ rights discussion of Democratically aligned states fighting federal roll back of rights and privileges through litigation. For Kelly’s posts, see post on the enforcement action involving the Agriculture Bank of China, click here.  Jonathan Armstrong leads a discussion on the new French anti-corruption law, Sapin II. He discusses the genesis of the law and why prior French efforts at anti-corruption law and enforcement was so harshly criticized by the OECD. He articulates how Sapin II differs from the UKBA, FCPA, the Brazilian Clean Companies Act and other anti-corruption laws across the globe. He talks about where he envisions French enforcement efforts going and the whistleblower protections of the law. Finally he ends with the key piece(s) of advice for clients regarding this law Cordery is suggesting around this law. For Cordery’s piece on the new law click here. Jay Rosen takes us through a Paul Krugman NYT post on some of the invidiousness of corruption, focusing on the corrupting nature of compliance around undue influence. Rosen explains incentives more than anything else and how such incentives skew the marketplace. We consider whether Trump’s discussions with the Carrier Corp over jobs was unduly influenced recalling President Kennedy’s ‘jawboning’ of the US steel industry in the 1960s. He also discusses the remarks of Sally Yates at ACI national FCPA conference about individual accountability and how this is not a GOP or Democratic issue but a criminal enforcement issue. For a link Krugman post, click here. For a copy of the text of Yates remarks, click here. For a copy of Jay blog post entitled, “The DOJ and SEC Share Patriots Mantra—Next Prosecutor Up” click here. Rants this week include the new UK surveillance law, the SEC domestic corruption enforcement action involving United Airlines for the Chairman’s Flight and the Chicken Littles of the compliance world claiming the sky is falling. Learn more about your ad choices. Visit megaphone.fm/adchoices

We are back to our more rounded format for this episode on a variety of topics including anti-corruption enforcement across the globe, the new French anti-corruption law, Sapin II, the Agricultural Bank of China compliance enforcement action by the state of New York Department of Financial Services; how corruption influences as much as it pays money and individual accountability for corporate malfeasance is not a Democratic or GOP issue but a law enforcement issue. We end with a well-deserved one minute rant from the panel about what is in the front of their mind. Mike Volkov discusses the internationalization of anti-corruption enforcement. He refers to the comments from the ACI FCPA conference, by Kara Brockmeyer and Dan Kahn about the increasing international enforcement efforts against corruption. This extends far beyond cooperation but also to enforcement. Recent examples are VimpelCom and Embraer where other countries received proceeds from fines and penalties. How does a company begin to deal with this type of complexity? Who does it disclose to? Who does it pay? When will the US give credit for payments made to other countries and when does it not? Finally this year saw of the third joint DOJ/SEC week long training for foreign prosecutors put on in DC. How do such events assist enforcement efforts, particularly around cooperation and mutual assistance? For Tom Fox’s blog post, “Anti-Corruption Enforcement Has Gone International?” click here.   Jay Rosen takes us through a Paul Krugman NYT post on some of the invidiousness of corruption, focusing on the corrupting nature of compliance around undue influence. Rosen explains incentives more than anything else and how such incentives skew the marketplace. We consider whether Trump’s discussions with the Carrier Corp over jobs was unduly influenced recalling President Kennedy’s ‘jawboning’ of the US steel industry in the 1960s. He also discusses the remarks of Sally Yates at ACI national FCPA conference about individual accountability and how this is not a GOP or Democratic issue but a criminal enforcement issue. For a link Krugman post, click  here. For a copy of the text of Yates remarks, click  here. For a copy of Jay blog post entitled, “The DOJ and SEC Share Patriots Mantra—Next Prosecutor Up” click  here. Rants this week include the new UK surveillance law, the SEC domestic corruption enforcement action involving United Airlines for the Chairman’s Flight and the Chicken Littles of the compliance world claiming the sky is falling. Learn more about your ad choices. Visit megaphone.fm/adchoices

Any Flagship Friday is a happy Flagship Friday when we've got shit to talk about Craig Wright, scamlord extraordinaire, Satoshi Suck-a-moto, the douchebag to end all douchebags. And guess what: this is a happy Flagship Friday. :) So, JOIN US on this episode to listen to us talk shit about Craig Wright and discuss his defeat in court, something that we've been longing for for quite some time.  Also, the wonderful People's Republic of China is making a step towards transparency and democracy with launching its own cryptocurrency! Maybe...! Does something smell fishy...?  Anyway - on the side of good news, we're talking official crypto banks in Switzerland, crypto bird feeders and more! Dive into the cryptoverse with us on this week's Flagship Friday. --- Rapid Fire - Wikipedia is a verified Brave browser publisher. Considering they send emails out every year asking for donations, this is another great way to donate to Wikipedia. -https://twitter.com/batgrowth/status/1166228879444459521?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fwww.notion.so%2Fcryptobasic%2FFlagship-Friday-8-30-19-11c48208b4f6492e8868966bbe44fb6c  - Venezuelan pharmacy, Farmarket, has added Dash as a payment option in 22 locations.: https://dashnews.org/dash-integrated-into-venezuelan-pharmacy-chain-farmarket-with-22-locations/  - US Air Force Partners With Constellation Blockchain Firm: https://www.coindesk.com/us-air-force-partners-with-blockchain-firm-to-automate-data-management  - Interactive Bird Feeder With Crypto: https://www.youtube.com/watch?v=otpqipL3H8Q  - Interactive Bird Feeder where for $0.50 USD you can feed the birds with BTC, LTC, Dogecoin or NANO. Birds that pop in are House Sparrows, Collared Doves, Great Tit, and Blue Tit. - Located in Slovakia. --- - Craig Wright Loses Case again Ira Kleinman - A Reporter named Katie Ananina was in the courtroom for the case and was live Tweeting it on Monday. - Wright's lawyers continue to argue Wright can't provide proof YET (remember he was moving the goalposts - this time to Jan 21, 2020) - They just kept begging for more time in different ways. - Kleinman family lawyer gets to recap all CSW lies, including the phrash "Dr. Wright is dishonest. He is a Serial Forger" - He even kinda quotes Twain - "The problem with not telling the truth is to remember the lies you previously said" - Finally the judge says this "Dr. Wright did not impress me as someone telling the truth. All of his testimonies have been rejected on this matter". Why isn't that perjury? - 50% of all patents are given to Dave's estate. 50% of all the supposed BTC is ordered paid as well, which is about 480K BTC. https://twitter.com/PeterMcCormack/status/1166086602441068544?s=20  https://twitter.com/PeterMcCormack/status/1166086602441068544?s=20  --- - Alleged Capital One Hacker Accused of Secretly Mining Cryptocurrency: https://cointelegraph.com/news/alleged-capital-one-hacker-accused-of-secretly-mining-cryptocurrency  - individual accused of perpetrating a massive-scale hack of credit card issuer Capital One - hacked cloud customers’ servers to mine cryptocurrency for herself. - Exploited the fact that some people misconfigured the webapp firewalls on the servers they rented - Online she posted that “if I had a partner I could have them take over my crypto-jacking enterprise and be a stay at home.” - Thompson allegedly gained access to 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, as well as data pertaining to customers’ credit scores, credit limits and balances. - World's First Licensed Crypto Bank Seen As Game-Changer: https://www.zerohedge.com/news/2019-08-28/worlds-first-licensed-crypto-bank-seen-game-changer-switzerland  - Reported from ZeroHedge the co-founders of Sygnum crypto bank have hailed the award of Swiss banking license as a game changer. - Could open the floodgates of integration of cryptocurrencies and other digital assets into established financial sector. - First time this type of license has been granted WORLDWIDE. Obviously Zug is a crypto hub so the fact that Switzerland is the first country in the world to do this is not a surprise. - The Swiss Financial Market Supervisory Authority was skeptical bc they wanted to safely and reliably integrate the worlds of crypto and mainstream finance. - Sygnum even created its own digital payment token backed by the Swiss franc. - Curious what you guys think about the implications of this - Telegram Pushes Ahead With Plans for ‘Gram’ Cryptocurrency: https://www.nytimes.com/2019/08/27/technology/telegram-cryptocurrency-gram.html  - Telegram doing their own crypto like Libra - Called the Gram, and they told investors they are ready to send out first batches withing a few months - Leaked, investors had signed NDA lol, this is anonymous but NYT - 200m to 300m global users - They raise $1.7b in 2018 but unlike FB have mostly kept project secret - A spokesman for Telegram did not respond to multiple requests for comment. - "company was created by Pavel Durov, a self-described libertarian who fled Russia after clashing with the government and being forced to sell off his first successful social network, VKontakte.' - NYT say they saw a pitch for Gram that said it would be decentralized like BTC so it can skirt government regulations. That they will be governed by decentralized network once released (and telegram no control) - Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or return the money! - Pre offering btw was 2.89b Gram for $1.7B --- Crypto Around the World - "Argentina's New Shitcoin": https://decrypt.co/8695/argentina-reward-waste-management-with-new-wastecoin-called-jellycoin  - a "wastecoin" called JellyCoin has been created by Argentina to reward waste management. --- - Chinese Government Crypto? Yes! No. Maybe? Bullish or Bullshit?!?! - Forbes - Alibaba, Tencent, Five Others To Receive First Chinese Government Cryptocurrency: https://www.forbes.com/sites/michaeldelcastillo/2019/08/27/alibaba-tencent-five-others-to-recieve-first-chinese-government-cryptocurrency/#1c559cc61a51  - China's central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months - Source was Paul Schulte, independent researcher (head of financial strategy for China Construction Bank until 2012) - Industrial & Commercial bank of China, Bank of China, Agricultural Bank of China, alibaba, Tencent, and Union Pay - Forbes says it was confirmed by second anonymous source, said it may launch for their big shopping day (singles day, Nov 11) - “China is barreling forward on reforms and rolling out the cryptocurrency,” “It will be the first central bank to do so.” - Not Launching a Cryptocurrency in November: China’s Central Bank: https://www.newsbtc.com/2019/08/28/not-launching-a-cryptocurrency-clarifies-chinas-central-bank/  - The People’s Bank of China (PBoC) called the coverages “inaccurate speculation,” - Reuters attempted to reach all the seven institutions for confirmation. Alibaba declined to comment, while others did not respond. THAT'S A SCAM - SUB Shuts doesn Telegram Group - Co-Founder Deletes Twitter: https://www.reddit.com/r/CryptoCurrency/comments/cui4a8/substratum_shuts_down_its_telegram_group_since/  - Trevon James Facing SEC Charges: https://www.reddit.com/r/CryptoCurrency/comments/cui4a8/substratum_shuts_down_its_telegram_group_since/  - This was kinda amazing. The title to HIS OWN VIDEO it this - "Trevon James Facing SEC Charges for Bitconnect | Jail Time?!" - The first link in his shownotes is something called Trontopia. - Spends a decent amount of the video talking about how he shouldn't have even been able to promote it because he didn't create it so its not his fault he didn't make it. - He's not getting a lawyer - Top comment on his youtube "Trevon now works for the feds. For life. Watch yo back round here" lolol - He has 176 Patrons on Patreon. KIDDING ME?? - He literally has a video that says "CAN I REPEAT THE SUCCESS OF BITCONNECT ON MY CHANNEL NOW" as his latest release. "I'm gonna try to recreate the huge euphoria of Bitconnect with a Decentralized Application" which then cuts to "Hey its not on me dawg" with throwing his hands up. - LA man pleads guilty to $25 mill BTC money laundering scheme - 25 year old LA man operating an unlicensed biz. $25 mil exchanged over 2 years. Kunal Kalra, known as Kumar, skeclemayne, and coinman. Los Angeles man pleads guilty to $25 million Bitcoin money laundering scheme | Micky: https://micky.com.au/los-angeles-man-pleads-guilty-to-25-million-bitcoin-money-laundering-scheme/