Category: Banking Industry
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XRP, DOGE Lead Crypto Losses as Weekend Pullback in Bitcoin Causes $500M Liquidations
BTC dropped more than 3.5% from its peak, as profit-taking led to a pullback from the near $100,000 mark late Friday. What to know: Bitcoin (BTC) pared last week’s gains with a price drop from $98,500 to as low as $95,500 during late U.S. hours on Sunday, before recovering, in a move that sent the…
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The Rise of African and African-American Tech Companies: Market Disruptors with Cultural Roots
The tech industry is seeing a transformative wave led by African and African-American entrepreneurs who are reimagining digital solutions to address global challenges while celebrating cultural identity. Companies like Fanbase, BlueSky, Spill App, and panafrican.email are reshaping their respective niches with innovative platforms, strategic funding, and a strong focus on underserved markets. Fanbase: Monetizing Authenticity…
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🇳🇬🇮🇳 India, Nigeria seek to renew long term partnership as PM Modi makes first visit
The Prime Minister of India, Narendra Modi, will be hosted by Nigerian President, Bola Tinubu as he embarks on a state visit to the Aso Rock Presidential Villa on Sunday, November 17. According to a statement issued by the Prime Minister’s office, Modi will visit Nigeria, Brazil and Guyana on a five-day state visit. Modi…
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🇧🇼 Botswana’s Leader Picks Deputy Gaolathe as Finance Minister
Botswana’s new leader Duma Boko unveiled the names of six members of his cabinet, including economist and Deputy President Ndaba Gaolathe as his finance minister. “We are here to mark the beginning of the delivery of the hopes and aspirations of the nation,” Boko, 54, said in Gaborone, the capital, on Monday. “We will make…
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Business Editorial: The Dark Arts of Growth Hacking Websites
This entry will focus on how some companies exploit metrics to create an illusion of growth, distorting their real value and deceiving investors. Tactics include shifting profitability projections, using misleading engagement metrics, or fabricating user activity through click farms and bots, a practice prevalent in both Web2 and Web3 spaces. In crypto, wash trading and…
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Kenya’s supreme court overturns ruling that nullified tax hikes
Kenya’s Supreme Court on Tuesday quashed a decision by an appeals court nullifying the 2023 finance law, a victory for the government after protests forced President William Ruto to withdraw this year’s finance bill. The finance bills form the main vehicle for the government to set out revenue-raising measures, and Ruto’s administration has been relying…
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JPMorgan sues customers over check fraud linked to glitch that went viral
NEW YORK, Oct 28 (Reuters) – JPMorgan Chase (JPM.N), the largest U.S. bank, has begun suing customers for check fraud, saying they improperly withdrew funds by taking illegal advantage of a temporary technical glitch that went viral on TikTok. The glitch in late August let customers deposit big checks in ATMs and withdraw funds immediately before…
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Stripe’s $1.1 Billion Bet on Stablecoin Infrastructure with Bridge Acquisition
Stripe, once wary of crypto, has acquired Bridge, a startup focused on stablecoin payments, for $1.1 billion. Bridge processed $5 billion annually, but Stripe’s interest lies in the team’s expertise and the product’s readiness to scale stablecoin-based financial services. With stablecoins processing $7 trillion in 2022, Stripe sees them as a modern alternative to legacy…
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🌍 BRICS cooperation with Africa increases the bloc’s influence on the global economy – media
The influence of BRICS on the global economy is growing as the number of member countries increases, and the importance of cooperation with Africa is also growing, according to an analytical article in the Zimbabwean newspaper Herald. “As the number of BRICS member countries increases, so will the organization’s influence on the global economy. One…
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🇹🇳 Tunisian MPs propose bill stripping central bank of exclusivity on interest rates, ending its independence
Tunisia’s central bank will no longer have the exclusive power to adjust interest rates or foreign exchange policy, and must only take such action in consultation with the government, but it will be allowed to finance the treasury, a bill proposed by lawmakers showed on Friday. The step is the latest move that will completely…
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