Vietnam’s foreign currency lending skyrockets in 8 months
Businessam Staff
September 19, 2017
Vietnam’s lending in foreign currencies grew 11.5 percent in the first eight months of this year, 6.7 fold higher than the same period last year. Meanwhile, lending in Vietnamese dong (VND) grew 11 percent, according to the country’s National Financial Supervision Commission on Tuesday. Local experts attributed the significant growth in foreign currency credit to […]
China’s yuan rebounds as economic optimism returns
Businessam StaffSeptember 11, 2017
For those who worry about the state of the world economy, China has long been a major reason to lose sleep. Its financial system labours under a mountain of loans, while weaker growth has prompted many Chinese people and companies to move their money overseas in recent years. China still faces hefty debt and slowing […]
Bitcoin jumps after first solution to major ideological divide
Businessam StaffJuly 18, 2017
Bitcoin reversed steep losses as miners began using new software which aims to bridge an ideological gap that has threatened to divide the crypto-currency. Bitcoin’s community has been at bitter odds for more than two years about how to solve its scaling problem, which has hampered the cryptocurrency’s growth and allowed rivals like ethereal to […]
French bank BNP Paribas is stung by a £188m fine over currency trading scandal
Businessam StaffJuly 18, 2017
BNP Paribas has been fined £188 million for failing to keep its currency traders from using electronic chatrooms to manipulate prices. The French bank will pay the money to the US Federal Reserve, which claims it failed to detect and address its traders’ use of electronic chatrooms to discuss their positions in the market for […]