Iran and Iraq reach agreement on how to release trapped funds

Iran has secured a trade agreement with Iraq that will enable it to access funds trapped in Baghdad because of US sanctions, the state-run Islamic Republic News Agency (IRNA) reported. Abdolnaser Hemmati, head of the Central Bank of Iran, visited Baghdad on Monday to finalize the deal, which allows Iran to use accumulated payments from … Continue reading Iran and Iraq reach agreement on how to release trapped funds

The UK govt spent a whopping €5b on Brexit

The UK's National Audit Office (NAO) has released a report showing that government departments spent at least £4.4 billion (€5.08 billion) preparing for the United Kingdom's exit. In the 32-page report, published on Friday (March 6), the office said it had asked all 18 central government departments and two non-ministerial departments to provide information on the cost … Continue reading The UK govt spent a whopping €5b on Brexit

A major post-Brexit challenge for the EU

The Brexit drama shook the foundations of the European Union for years and laid bare the need for much-delayed political renovations at the 27-nation bloc. But now that Britain has finally left, where does the EU revamp even start and who is going to foot the bill? Those questions loom large for EU officials and … Continue reading A major post-Brexit challenge for the EU

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Virgin Money focusing on higher growth areas to increase profits

Lender Virgin Money has seen shares soar by more than a quarter despite scrapping its dividend payout after a £385 million hit for payment protection insurance (PPI) pushed it deeper into the red. The group – formerly known as CYBG – revealed that statutory pre-tax losses widened to £232 million for the year to September 30 from £164 million the … Continue reading Virgin Money focusing on higher growth areas to increase profits

Fair Value Accounting: What’s your perception?

Accountants thrive on precise numbers that seem tantamount to cold, hard facts. Mary E. Barth, one of the profession’s leading scholars, wants to set you straight. Barth is not warning about fraud or even the legal forms of manipulation known as “earnings management,” though there’s plenty of all that. She is raising a more basic issue: … Continue reading Fair Value Accounting: What’s your perception?

Financial constraints of startups in the US

More than two-thirds of startup firms faced financial challenges in the past year, according to the 2016 Small Business Credit Survey: Report on Startup Firms. The survey, which was a collaboration of all 12 Federal Reserve banks, provides an in-depth look at startups and their financing and credit experiences, covering the second half of 2015 through … Continue reading Financial constraints of startups in the US

An overview of the Asian stock market

Technology stocks have been at the forefront of the rally in Asian stocks this year, yet there’s more driving the sector than just Tencent Holdings Ltd. Don’t get us wrong, Tencent has been a great story thus far. The stock with the single biggest weighting in the MSCI Asia Pacific Index is up about 25 … Continue reading An overview of the Asian stock market

How to grow your business with Key Performance Indicators (KPIs)

You may have a gut feeling that your business is humming along smoothly — and you might be spot on. But there is no substitute for concrete numbers when it comes to measuring your business’ financial health. That’s where financial KPIs — key performance indicators — come in. KPI is a blanket term for the types … Continue reading How to grow your business with Key Performance Indicators (KPIs)

Lessons learned from the Greek Financial Crisis

  The principles of Keynesian economic theory are considered as effective financial intervention plans and are very effective in resolving economic crisis (Keynes., 1936), especially when governments “responsibly” apply them with clear understanding of the current situation and future forecasts. This is one of the reasons an economic index from the Heritage Foundation ranked Greece … Continue reading Lessons learned from the Greek Financial Crisis

New York, not London, is the world’s ideal financial center

  With Brexit posing as the biggest challenge to the City of London’s finance industry and Britain's divorce from the European Union prompting banks to shift jobs out of the city - London's position globally has taken a beating. According to a new survey, London has lost the position as the world’s most attractive financial … Continue reading New York, not London, is the world’s ideal financial center