2013 is set to usher in a mini-revolution in the manner in which consumers make minor point of sale payments. Contactless payment systems that allow payments to be made by merely flashing a credit or debit card or other device over a reader are likely to be operational in many Finnish retail outlets, possibly as early as this spring.
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Russia may ban cash payments for purchases of more than 300,000 rubles (around ,000) starting in 2015. The move is expected to boost banks’ cash reserves and put a damper on Russia’s shadow economy. However, the middle class will most likely end up having to pay the price for the scheme.
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Iran has changed its trade partners and redirected its trade transactions from such countries as Britain and Germany to Middle- Eastern and Eastern states, he said, adding that such changes reduce the need for currencies like dollar and euro
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Outgoing Mexican President Felipe Calderon has signed into law a ban on large cash transactions. The ban will take effect in about 90 days and it is part of a broader effort to control monetary flows within the country.
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The European Commission on Tuesday agreed a formal first step enabling 10 EU nations to launch a hotly contested Financial Transactions Tax slated to raise billions for the public purse. Note; of the 27 nations only 10 agree to go ahead.
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British bank named in scathing report by regulators which claims SCB helped Iranian clients skirt US financial sanctions
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The 0.2 percent tax, loosely modeled on the ideas of the U.S. economist James Tobin, will be applied to the purchase of shares in 109 French companies with market capitalizations of more than 1 billion euros (.2 billion). A similar levy will be imposed on high-frequency trading and so-called naked sovereign credit-default swaps.
bertb news feed
The IT ‘glitch’ that has entirely shut down RBS’ NatWest Bank and halted ATM transactions at Russia’s largest bank Sberbank, has now spread to Germany’s largest bank, Deutsche Postbank.
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f Spain is seeking further instability, a new law on financial transactions is sure to do just that
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A 2007 court ruling in the US ordered Iran to pay .65 billion to victims’ families. Since when does an US court have jurisdiction over Iranian money parked in Japan?
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