The digital yuan wallet app has been updated to include a traditional Chinese method of gifting money that has gone digital with the growth of digital payments. In an effort to draw in more users, China's wallet app for its digital yuan central bank digital currency (CBDC) added a feature that allows users to send money in an electronic equivalent of traditional "red packets." According to a Dec. 26 article in the South China Morning Post, the new feature was released over the weekend, about one month before the Chinese New Year on Jan. 22. The "red packets," also known as hongbao in China, are customarily used for giving money as a sign of good fortune during Chinese New Year celebrations and other occasions. Popular local services like WeChat Pay and Alipay now offer virtual red envelopes as a result of the growing use of digital payments. The e-CNY app reportedly allows a red packet to be sent to just one recipient, or a "lucky draw" can be set up f...

  The use of censoring MEV relays by crypto ecosystems and exchanges is one of the main factors hurting Ethereum's credibility as a neutral platform. Being compliant with federal sanctions has a detrimental effect on the global reach of the majority of crypto ecosystems. With Ethereum, investors have a significant amount of control over how much the ecosystem complies with rules. The Office of Foreign Assets Control's United States sanctions are complied with by nearly 60% of all Ethereum blocks created after the merge (OFAC). While the crypto community opposes this change, many do not recognize their own role in assisting Ethereum in achieving full OFAC compliance. The practice of crypto ecosystems and exchanges censoring Miner extractable value (MEV) relays is one of the main factors undermining Ethereum's credibility as a neutral platform. MEV relays, which are used by well-known cryptocurrency players like Binance, Celsius Network, Coinbase, Kraken, and Cream Finance, t...

The news that more than 2% of equity was transferred in a block sale caused the share price of Max Financial Services to drop by about 3% today. The transaction cost 471 crore. In comparison to the previous BSE close of Rs 699.45, Max Financial shares decreased 2.75% to Rs 680.15. The company's market value decreased to Rs 23,8632 crore. The shares initially began lower at Rs 687.50. Compared to the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, Max Financial stock is currently trading lower. The price of Max Financial's stock fell 28.38% in a year and 29.31% in 2022. On January 11, 2022, the stock reached a 52-week high of Rs. 1081, and on November 23, 2022, it reached a 52-week low of Rs. 627.80. A total of 12.57 lakh shares of the company were traded, resulting in a BSE turnover of Rs 85.89 crore. The last two sessions have seen a decline in Max Financial stock. With a target price of Rs 930, Emkay Global is optimistic on the Max Financial stock at the moment. ...

Michael Gove, the Secretary of State for Levelling Up, has today (19 December 2022) approved a nearly £60 billion funding package for councils in England for the next fiscal year to ensure that councils can continue to provide important frontline services. The settlement means councils throughout England will receive an additional £5 billion, a 9% increase over last year's settlement, as the government continues to support councils and public services amid financial difficulties. The deal for next year contains a one-time Funding Guarantee that ensures every council in England will get at least a 3% increase in core spending power prior to any local choices being made regarding council tax. Alongside this, the government confirms today a new £100 million scheme for councils to safeguard the most vulnerable households from council tax hikes, fulfilling the campaign pledge to protect local taxpayers from excessive increases. In 2023/24, the government will provide an additional $2 bi...

The Office of Financial Sanctions Implementation runs the system in the UK (OFSI). The government takes these steps to meet certain foreign policy or national security goals. In recent years, there have been a number of changes to the regime, which is based on a number of laws. The Solicitors Regulation Authority (SRA) has already put out information to help firms make sure they know what they have to do. The government has now made changes that make it illegal to give trust services to people with ties to Russia or to a person on a list, unless the services were given right before the rules went into effect. On December 16, 2022, the Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 went into effect. Paul Philip, the CEO of the SRA, said, "Strengthening the financial sanctions regime is an important part of the government's response to war in Europe, and law firms have a key role to play." The sanctions regime applies to all firms that offer legal servic...

According to Bloomberg, yearly inflation in Argentina is anticipated to exceed 99% this month and economists anticipate it to approach three figures soon as the team gets ready for Sunday's World Cup final. Inflation in 1986, the year Diego Maradona led the Albiceleste to victory, averaged 116%. Data and surveys from the central bank show that the rate was 176% in 1978, the year that Argentina won the game it hosted. Lionel Messi, who was born in 1987, a year after Argentina won the World Cup, and is viewed by the supporters as Maradona's successor, will play in his final World Cup match against France. A nation once again experiencing tough economic times has been pleased by the team's run to the final match, which was motivated by their talisman and involved them avoiding early elimination and posting five straight victories. This country's consistent economic strength, nevertheless, does not necessarily predict its success at the World Cup. The team saw a hyperinflat...

Economists said on Thursday that the Malaysian economy will slow down in 2023 because of tough conditions outside the country and slower domestic demand. In a report, Maybank Investment Bank Research said that it expects Malaysia's full-year growth to slow down to 4% in 2023, down from 8% in 2022. This is mostly because domestic demand will have slowed down. The research firm thinks that private consumption will grow more slowly next year as people spend the money they have been saving since the economy fully reopened. This will be made worse by the effects of high inflation and high interest rates on the cost of living and real disposable income. It also predicts that the growth of public consumption will slow down, which is in line with the fact that the government will spend less on operating costs in Budget 2023. It also said that because the world economy is expected to grow more slowly, exports and imports of goods and services will fall. The growth of Malaysia's gross do...

Three explosions have been heard in the heart of Kiev as Ukraine claims to have shot down several Shahed drones built in Iran. Mayor Vitali Klitschko reported that rescue services had been sent to the Shevchenkivskyi district in the center of the country after 10 Shahed drones had been shot down by Ukrainian air defenses. He added on his Telegram channel, "Details later." Klitschko's assertion could not be independently verified. A Ukrainian politician named Oleksiy Goncharenko claimed on Twitter that by 6.30 a.m. local time, he had heard three explosions (04:30 GMT). At 5:55 a.m. (03:55 GMT), the air-raid alert had sounded, and locals had been advised to seek shelter until the situation had been resolved. Goncharenko argued that explosions, not alarm locks, are what cause Ukrainians to wake up. "Thanks to the close-by Russia! Happy morning! Oleksiy Kuleba, the governor of Kyiv Oblast, reported that air defense systems were activated and "striking targets."...

Some of Hong Kong's last remaining Covid-19 limitations, which have harmed the city's economy and damaged its reputation as a financial center, will be removed. Beginning tomorrow, visitors won't be prohibited from going to restaurants and bars for the first three days after their arrival, and locals won't need to scan a tracing app to go into restaurants, bars, and other establishments. The actions follow Beijing's reversal of its zero-Covid policy this month, when the nation abandoned a number of regulations meant to eradicate instances and instead saw an increase in infections. Hong Kong maintained its own elimination program and weeks-long government quarantines up until a disastrous epidemic made the measures unnecessary at the beginning of this year, despite the fact that it was never subject to the same level of restrictions as the rest of China. The mandatory inbound passenger quarantine was abolished in September as part of the city's ongoing effort to ...

Worrying new research shows that more than one-third of Australians know someone who has taken or tried to take their own life in the past year. Worryingly, 38% of the 1,022 persons surveyed in the study by Suicide Prevention Australia reported being affected by suicide in some way. Seventy percent of individuals reported feeling increased distress, and one in five reported engaging in suicide thoughts or actions within the preceding year. The national top agency for suicide prevention conducted additional research and discovered that cost of living and personal debt were the most commonly mentioned pressures affecting Australians, while housing-related misery was the fastest-growing issue. According to Nieves Murray, chief executive of Suicide Prevention Australia, the latest statistics suggest that "middle age and medium pay" Australians are disproportionately affected by the rising housing stress. Mr. Murray noted that the results "once again highlight the clear link ...

Saturday, Pakistan's Finance Minister Ishaq Dar said that the country is headed in the right direction and will not default on its debts, despite what the opposition is saying. "Pakistan will not go bankrupt because of what the opposition says" (Pakistan Tehreek-i-Insaf). "The country is going in the right direction, and it is not headed for default," Mr. Dar told businesspeople. Imran Khan, the leader of the PTI, and other leaders of his party have said that the coalition government led by PML-N will fail because of its "poor policies." Mr. Khan thinks that the country's economy can only get back on track if a stable government takes over after new elections and fixes the problem. Mr. Dar also said that the opposition was bad for the country's "economic cause." "Also, the opposition is spreading stories about corruption to stop foreign investors from coming to the country. "The PTI needs to get serious and stop messing arou...

The UK, Japan, and Italy have agreed to work together to build one of the most advanced fighter jets in the world by 2035. This will be the first time three countries have worked together on a military project. The goal is to increase their defense capabilities so they can deal with growing security threats from China and Russia. The Global Combat Air Programme is being made at the same time as a competing project between France, Germany, and Spain, which has been hampered by political and business problems between the partners. Under the agreement reached on Friday, the UK and Italy will combine their existing Future Combat Air program, called Tempest, with the F-X project that Japan is working on. The three countries will split the costs of development, which are expected to be in the tens of billions of dollars. The exact amounts that each country will pay will be decided after a joint review of costs and national budgets. In a joint statement, the leaders of the three countries sai...

The dollar inched higher on Thursday, bolstered by a rise in U.S. Treasury yields, as investors assessed the outlook for Federal Reserve policy against the likelihood that high interest rates may trigger a recession. The Federal Reserve, the European Central Bank, and the Bank of England will all make significant judgments the week after next, among others. The important concern for traders and investors is whether inflation has reached its zenith, which would allow policymakers to implement lower interest-rate hikes in the coming months. The monthly consumer price index for the United States is also due the following week, one day prior to the Federal Reserve's policy meeting on December 14, and could be crucial in determining longer-term monetary policy expectations. Adam Cole, a currency strategist at RBC, stated that the U.S. CPI is the only data release that appears to have a significant impact on the broader direction of the dollar at the moment. "Until we get those cent...

"Low interest rates no longer make people dream of a peaceful world with clean energy, equal rights, and independent central banks. In 2023, the world's economies will switch to a "War Economy," where economic gains for each country and self-reliance are more important than globalization." That's how sure Saxo Bank is, which just put out a report on the black swans that could happen in the coming year. Black swans are events that seem like they couldn't have been seen coming, have a big effect on society and the economy, and can be looked at after the fact to see how they could have been seen coming. Here are the 10 "crazy" things the Danish bank thinks will happen: 1. A group spending billions of dollars makes a new energy plan called the "Manhattan Project," which will cost a trillion dollars. Because the world's need for energy is always growing, the world's richest people have come together to start a research and developm...

Six weeks in a row, the country's foreign exchange reserves fell to their lowest level in almost two years. Since the crisis in Ukraine, India's foreign exchange holdings have gone down by more than $80 billion. In the last week alone, the Reserve Bank of India sold more than $2 billion worth of dollars to help the rupee cross the 80-to-the-dollar mark. The RBI's most recent weekly report shows that foreign exchange reserves hit their lowest level in more than two years during the week ending September 9. They dropped by $2.234 billion, from $553.105 billion the week before to $550.871 billion. Since Russia invaded Ukraine at the end of February, India's import coverage has gone down for six weeks in a row and 23 out of 29 weeks. This is because the Reserve Bank of India (RBI) has been taking money out of reserves to stop a rise in the US dollar caused by capital leaving assets denominated in dollars. Since late October, when they were at their highest, the country'...

The EUR/USD pair managed to keep up its upward momentum throughout the first part of the week, but it was unable to achieve parity and finished the week at around 0.9750, which resulted in a slight loss for the week as a whole. At the beginning of the fourth quarter, optimism was at an all-time high, with Wall Street reporting massive gains and government bonds extending their gains from the previous week. The increased appetite for risk is providing support for the EUR/USD currency pair. Participants on the market were of the opinion that an increase in the likelihood of a global recession would force central banks to slow the rate of quantitative tightening sooner rather than later. This type of speculation, along with the demand for high-yielding assets, was fueled by the Reserve Bank of Australia's decision to raise the cash rate by only 25 basis points, which was less than was anticipated. However, the positive energy didn't stick around for very long. On Wednesday, the Eu...

What's Lots? You must comprehend a lot before you can answer "What is the lot size?" or trade FX. Forex traders must understand key units of measurement. A "lot" indicates the quantity of currency units bought or sold in a transaction. Position orders are indicated in lot sizes. What's a Forex "Lot"? A lot measures the size of a foreign exchange trade. Pips are minuscule measurements because they come after the decimal point. Pips measure currency differences. You can't trade only one unit. Different platforms allow users to trade these minor changes in enormous amounts. An exchange or market regulator determines a lot's worth so everyone trades the same amount and understands how much of an asset they're trading when they initiate a position. Standard, mini, micro, and nano lots help traders control their exposure. Chocolate-Box Forex Lots A company sells 12- and 24-candy boxes. Customers expect these sizes. They rarely buy one chocola...

On a price chart, convergent trend lines provide the impression of a wedge, a particular kind of price pattern. Two trend lines are created to connect the highs and lows of a price series that has been studied over a period of ten to fifty years. Due to the disparity in the speeds at which the highs and lows are increasing or falling, it appears as though a wedge is forming when the lines converge. Due to the structure of the line, wedge-shaped trend lines are excellent indicators of a potential price reversal. Key Idea Wedge patterns are often identified by converging trend lines that span 10 to 50 trading sessions. The patterns can be classified as rising wedges or falling wedges depending on which way they travel. When it comes to predicting price reversals, these patterns have an incredibly high success rate. gaining understanding of the wedge pattern. How to Interpret the Wedge Pattern A wedge pattern might have suggested a price reversal in either direction. In any case, this pat...