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Opinion

SYDNEY and KUALA LUMPUR, Jun 22 2021 (IPS) – COVID-19 has become a “developing country pandemic”, retreating from the North’s mass vaccination. With developing countries heavily handicapped, the International Monetary Fund (IMF) warns of a “dangerous [new] divergence”.

Anis Chowdhury

Renewed North-South divide
The Economist believes death rates in developing countries are much higher than officially reported – 12 times more in low- and middle-income countries (LMICs), and 35 times greater in low-income countries (LICs)!

Rich countries’ ‘vaccine nationalism

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G7 Finance Ministers Agree On Allocation Of Taxing Rights And Global Minimum Tax Rate – Tax


Worldwide:

G7 Finance Ministers Agree On Allocation Of Taxing Rights And Global Minimum Tax Rate


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On 5 June, the G7 Finance Ministers announced an agreement in
which the participating countries committed to new taxing rights
that allow countries to reallocate some portion of profits of large
multinational companies to markets (i.e., where sales arise -
“Pillar One”), as well as enact a global minimum tax rate
of at least 15 percent (“Pillar Two”).

In the 
communique
, the

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New Zealand’s campaign finance laws are broken. That can have enormous consequences | Pete McKenzie

The spokesperson for Aotearoa New Zealand’s Green party was genuinely surprised. She had called after I informed them that a major donor to their 2020 election campaign had subsequently pleaded guilty to animal neglect. The spokesperson said the Greens had not known about the neglect when they took her money.

They nevertheless refused to donate it onwards. They argued the Incorporated Societies Act required them to hold on to it. As I later found out, that’s not quite true: returning the donation, or donating it to an organisation like the SPCA, seems to be possible according to their

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Establishing A Finance Company In Nigeria – Finance and Banking


Nigeria:

Establishing A Finance Company In Nigeria


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Introduction

Micro, Small and Medium Enterprises (MSMEs) play a significant
role in the development of the economy of many countries. According
to the World Bank1, MSMEs represent about 90% of
businesses worldwide. The growth of MSMEs in many countries,
however, is often stifled by limited access to finance, as
financial institutions are less likely to provide funding to MSMEs
due to the high-risk nature

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More needed: G7 nations agree to boost climate finance

  • G7 to increase climate finance
  • No details, especially on size of increases
  • Rest of pledges lack specifics, say green groups

CARBIS BAY, England, June 12 (Reuters) – G7 leaders agreed on Sunday to raise their contributions to meet an overdue spending pledge of $100 billion a year by rich countries to help poorer countries cut carbon emissions and cope with global warming, but only two nations offered firm promises of more cash.

Alongside plans billed as helping speed infrastructure funding in developing countries and a shift to renewable and sustainable technology, the world’s seven largest advanced economies again pledged to

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The G7 sketches a development-finance initiative to counter China’s

JOE BIDEN believes that America and its rich allies must offer poor countries an attractive alternative to Chinese loans and investment. It is not enough, he thinks, just to put pressure on them to spurn business with Beijing, the approach many argued was taken under Donald Trump. Today the White House said Mr Biden and his G7 counterparts have agreed to form a multilateral rival to China’s Belt and Road Initiative that would offer such an alternative, at least in theory. The Biden administration is trying to sell it as an ambitious programme to build hundreds of

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More US finance giants tiptoe into cryptoassets

NEW YORK: Investing in bitcoin and other digital currencies remains a risky game where the rules could change significantly, but the payoff could be big.
In response to this dilemma, several leading US financial heavyweights are staying on the sidelines, while an increasing number are proceeding cautiously into the growing world of cryptoassets.
“My own personal advice to people: Stay away from it,” JPMorgan Chase Chief Executive Jamie Dimon said recently, before adding, “That does not mean the clients don’t want it.”
JPMorgan, the biggest US bank by assets, is currently assessing how it can help clients transact in cryptocurrency,
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Welcome to the Era of Regenerative Finance

While few funders have fully realized the regenerative finance vision, a growing community of financial activists is applying its core practices in initiatives
that show how we can use capital as a flexible, purpose-driven tool to create healthy and equitable social and environmental systems.

Our complex, systemic problems are proving resistant to simple solutions, and
each one has its own web of complexities to unwind. One thing they all have in
common, though, is that you can’t fix a broken [name any system] with a broken
finance system. That’s why regenerative
finance

— a concept that’s been percolating at the

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Circle Finalizes $440 Million In Financing

FinTech Circle has completed a financing round with $440 million, according to a company blog post.

The financing will be used to help Circle’s continued growth and organizational development, and to bolster market expansion opportunities as it works in digitally-native finance, the post stated.

“… Circle is now poised to meet significant global demand for its products and services aimed at marrying the existing financial system with breakthroughs in digital currency within payments and finance,” the release stated.

Circle CEO Jeremy Allaire spoke to PYMNTS in

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Chinese Bank Chiefs Urge Gradual Pullback of Financing to Coal

China should take a gradual approach pulling back financing to high-emission industries in order to avoid credit risks, state bank chiefs said Saturday.

Financial institutions need to support coal and steel companies to upgrade their technology to reduce emissions, even as they stop financing any further expansion of capacity, said Zhou Xuedong, executive vice president at China Development Bank, at a panel during the International Finance Forum in Beijing.

Explore dynamic updates of the earth’s key data points

“These [high-emission] industries have significant outstanding credit, and an exit of financing that’s too fast could lead to the deterioration of bank

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