Facebook's plans to launch a cryptocurrency could usher in a new type of "currency competition" and force China to rethink how it deals with the realities of the digital world, analysts said. In the past, Beijing has cracked down on cryptocurrencies like bitcoin, viewing them as a threat to financial stability, and has tried, with little success, to develop a "sovereign" digital currency of its own. Facebook's Libra, which is expected to be launched next year, raises a tough question for Beijing as it may have greater implications for global currencies, payments and financial systems than traditional currencies. That is because it will be pegged to a basket of convertible currencies - so it could serve as a stable online currency - while its payments will be endorsed by Visa and Mastercard meaning it can be used for a range of online services. Also, Facebook has more than 2 billion users. Also, its aim to make payments easier could undermine Beijing's efforts to curb capital outflows, … [Read more...] about How will Beijing react to Facebook’s Libra cryptocurrency?
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HONG KONG - Growing uncertainty because of trade tensions between the United States and China as well as the recent unrest over a divisive extradition Bill have apparently given pause for thought for the wealthy in Hong Kong as well as foreign businesses.A banking source in the territory said the super rich have begun to shift their assets including to Singapore which, analysts said, is looking increasingly enticing to foreign businesses as the location for their headquarters and key staff. Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM. Enjoy unlimited access to ST's best work Exclusive stories and features on multiple devicesIn-depth analyses and opinion piecesePaper and award-winning multimedia content Subscribe Now … [Read more...] about Growing uncertainty begins to take its toll on Hong Kong
MANILA, Philippines — Most can attest to moms being the nurturers of families, and providers of affection, love and care. But through the years, they continue to reinvent themselves — breaking stereotypes in society, taking on multifaceted roles, and showing strength amid tenderness. So when it comes to making and saving money, moms surely can. In celebration of Mother’s Day, meet two moms who have bravely stepped up, brought their A-games, and raised their children while providing for their families. Mommy Chrys: The wise spender Chrys learned to be a wise spender by minimizing spending in small things that add up. Photo Courtesy of Chrys Esguerra del Monte Imagine separating from your husband at the height of the Asian Financial Crisis — a period that gripped most of East and Southeast Asia in the late 90s — with two very young daughters to raise alone. Sounds difficult? Maria Chrystia Esguerra del Monte, now 50, went through all these … [Read more...] about When it comes to saving, managing and growing money, moms can!
By Alyshah Hasham Courts Reporter Sat., May 4, 2019 Sylvia Consuelo, a slight 34-year-old woman with long, dark hair, was found dead on the floor of her Etobicoke apartment in the early hours of Jan. 30, 2016. A bunch of unopened condoms had been scattered over her body and she had been sexually assaulted with an object. Three years later, a jury is set to decide whether Najib Amin, 31, murdered Consuelo because he believed — wrongly — that she was HIV-positive and had given HIV to three people through unprotected sex. There is no DNA evidence in the case, no fingerprints or an eyewitness to the murder. In closing arguments on Thursday, the case against Amin was described as entirely circumstantial and based mainly on two pieces of evidence: security footage from Consuelo’s building that shows Amin and the alleged murderer on different days wearing apparently identical clothing and secretly recorded conversations between Amin and undercover … [Read more...] about Jury set to begin deliberations in Sylvia Consuelo murder trial
By Michelle McQuigge The Canadian Press Tues., April 30, 2019 The mayor of a town wresting with flood conditions in central Ontario’s cottage country says local water levels are beginning to stabilize just in time for a fresh influx of rain expected this week. Graydon Smith, mayor of Bracebridge, Ont., says levels in the Muskoka River and Lake Muskoka have either crested or have begun to recede. But he says the latest forecast from Environment Canada is calling for a fresh 25 to 30 millimetres of rain to fall on the town on Wednesday. The national weather agency has issued a rainfall warning for the swath of central Ontario in which four communities have had to declare states of emergency thanks to record-high water levels caused by spring runoff and new rainfall. Those declarations stayed in place in Bracebridge, Muskoka Lakes Township, Minden Hills and Huntsville, where officials said water levels in local lakes began dropping on Monday. Article … [Read more...] about Water levels begin to stabilize in Ontario’s cottage country, but more rain on the way