Finance

X Financial Reports Third Quarter 2021 Unaudited Financial Results

SHENZHEN, China, Nov. 22, 2021 /PRNewswire/ — X Financial (NYSE: XYF) (the “Company” or “we”), a leading online personal finance company in China, today announced its unaudited financial results for the third quarter ended September 30, 2021.

Third Quarter 2021 Financial Highlights

  • Total net revenue in the third quarter of 2021 was RMB964.4 million (US$149.7 million), representing an increase of 72.3% from RMB559.8 million in the same period of 2020.

  • Income from operations in the third quarter of 2021 was RMB410.6 million (US$63.7 million), compared with loss from operations of RMB101.4 million in

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Five Personal Finance Thumb Rules To Follow

Following certain thumb rules can sort out your finances broadly. Thumb rules may not always give you an accurate picture but can steer you in the right direction as they are usually time-tested processes. They are something that are easily learnt, remembered, and applied.

“Thumb rules help in streamlining our finances. Basically, when we form a rule and follow a time-tested process, our probability to reach financial freedom increases,” says Anant Ladha, founder, Invest Aaj For Kal, a financial planning firm.

Here are five popular personal finance thumb rules that you can follow to sort out your money life. However,

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FG to begin disbursement of N655bn bridge financing

The Minister of Finance, Budget and National Planning, Zainab Ahmed, informed the National Economic Council on Thursday, that the Bridge Facility is now being processed by the Central Bank of Nigeria.

The approved Bridge Facility of N656.11bn will be disbursed in six tranches over six months to the states.

Each of the 36 states is expected to receive a total loan amount of N18.2bn, with a 30-year tenor, and a2-year moratorium at an interest rate of 9 per cent.

These were contained in a statement issued by the Senior Special Assistant to the

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The risks of using buy now, pay later to finance holiday shopping on Black Friday

Buy now, pay later apps let you break up larger purchases into a short-term repayment schedule. But there are a few things you should know before you use them to finance holiday shopping. (iStock)

The holiday season can be financially straining, which is why many people rely on borrowed money to cover costs. The demand among shoppers for long-term financing options has fueled the rise of a payment option known as “buy now, pay later” — sometimes referred to as BNPL.

Buy now, pay later services let you break your purchase into multiple interest-free payments over the course

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Nasdaq drops 0.5% while Dow gains 195 points, or 0.6%

Stocks were mixed on Tuesday with technology stocks under further pressure, as investors further mulled the market implications of Federal Reserve Jerome Powell’s renomination to lead the central bank.

The S&P 500 ended slightly higher. The Nasdaq lagged as investors further turned away from technology and growth stocks. The Dow — which is heavily weighted in cyclical stocks — gained more than 150 points, or 0.4%, during afternoon trading as energy and financials shares outperformed. 

U.S. West Texas intermediate crude oil futures (CL=F) recovered losses and rose 2% after dropping more than 1% earlier in the morning. The move came

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CBN’s financial inclusion drive takes effect in Jigawa

The Central Bank of Nigeria (CBN) on Monday in Dutse, flagged off financial inclusion drive to improve access of women and youths in financial products and services in the state.

Director, Department of Development Finance of the apex bank, Abdul Ahmadu in his opening speech to mark the ceremony, said the initiative was targeted at unbanked Nigerians and other stakeholders in the Northwest geopolitical zone to enable them benefit from the opportunities and improve their welfare.

Representing the Central Bank Governor, Mr. Godwin Emefiele at the occasion, he disclosed that the first phase of the drive was held in Gombe

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Embedded Finance Leader Alviere Runs Ad Campaign Announcing Official Arrival of New Era of Finance

“Bank Is Just a Four Letter Word”

NEW YORK, November 22, 2021–(BUSINESS WIRE)–Alviere, the leading global embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, today unveiled full page newspaper ads that officially announce a new era of financial services that will result in leading consumer brands offering all the same financial services traditionally only accessible at banking institutions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211122005889/en/

(Graphic: Business Wire)

The series of four ads appear in “The Wall Street Journal.” The ads carry bold titles

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Small Businesses In Finance And Insurance Recovered Best From Pandemic

In an examination of small business funding trends, the new Biz2Credit Recovery Ranking for 2021 found that businesses in the Financial Services and Insurance industry recovered the fastest from the COVID-19 pandemic compared to other industries.

These companies experienced the greatest strength of recovery from COVID-19 lockdowns because businesses in financial services and insurance had a high demand for expansion capital, but a low level of distress.

The new study identified top

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Making green financing a reality

As the curtain falls on COP26, the world is wondering how nations can make good on big promises to pursue development while containing the climate crisis. Rwanda, for example, needs sweeping investment to realise its climate change goals in ways that don’t compromise economic development. As such, making the promises on ‘green financing’ a reality will be essential.

Taking centre stage at this year’s climate conference has been discussions on ‘green finance’ – the financing of sustainable business models and policies – and the goal to secure $100bn in pledges to help decarbonise the world economy. This financing is vital

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Nigeria to launch digital currency on Monday, central bank says

ABUJA, Oct 24 (Reuters) – Nigeria will on Monday launch a digital currency, the eNaira, the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies.

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in their bank account.

“The eNaira therefore marks a major step forward in the evolution of money and the CBN is committed in ensuring that the eNaira, like the physical Naira, is accessible by everyone,” the bank said in a statement.

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