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ESG funds, which prioritize environmental, social, and governance factors, experienced a surge in popularity followed by a backlash. Republican politicians criticized ESG as "woke capitalism," and there was a significant decrease in inflows to ESG funds. However, experts argue that ESG will survive and thrive in the future. They emphasize that ESG is not inherently liberal or conservative but rather a way to assess a company's impact on the environment and society. Despite criticisms and challenges, demand for sustainable investing remains high, particularly among younger investors. The future of ESG may involve evolving terminology and a lower profile, but it has established a permanent role in investing. [Extracted from the article]

The Department for Education has responded to various parliamentary questions on a range of topics. They addressed concerns about the impact of funding cuts on local economies, condemned antisemitism at the University of Leeds, and discussed issues such as technical qualifications, music education, and school building safety. The document also covers topics like mental health support, mobile phone policies, female participation in STEM, financial support for higher education, and support for care leavers. The Department has outlined actions to support care leavers in education and confirmed that all state-funded schools in England now have defibrillators. They are also updating guidance on the use of reasonable force in schools and providing support for talent in the video games industry. [Extracted from the article]

This article from Kiplinger Personal Finance provides guidance for individuals who are considering breaking up with their financial adviser or brokerage. The article advises against impulsive actions and encourages individuals to carefully evaluate their grievances before making a decision. It suggests comparing fees and returns with competitors, as well as considering alternative options and creating a checklist of important factors. The article also provides information on the process of transferring assets to a new adviser or brokerage, including the importance of maintaining personal records and being aware of potential fees and taxes. It concludes by discussing the potential costs and considerations associated with transferring proprietary investments. [Extracted from the article]

The article discusses the timing and considerations for South African expatriates who are considering early withdrawals from their retirement savings in South Africa under the new two-pot retirement fund system. It highlights factors such as exchange rates, the three-year lock-in rule, tax implications, and the need for tax compliance. The article also briefly mentions the restrictions on VAT registration on the payments basis and the challenges faced by small businesses. It emphasizes the importance of seeking sound tax advice before making any decisions regarding retirement fund withdrawals. [Extracted from the article]

The article from Bloomberg.com discusses the upcoming BRICS summit in Russia, where President Vladimir Putin aims to showcase resilience against Western sanctions. However, foreign guests are advised to bring cash as their Mastercard or Visa cards issued outside of Russia may not be accepted. The article highlights Russia's reliance on dollars or euros due to restrictions on other currencies, including the Russian Mir bank card. Despite efforts to promote the Mir payment system as an alternative to Visa and Mastercard, it has faced challenges, including sanctions from the US. [Extracted from the article]

Hedge funds sold a record amount of Chinese shares on Tuesday, following a weeklong holiday that lacked major stimulus, according to a note from Goldman Sachs. The selling by hedge funds, which included both unwinding long positions and adding short positions, contributed to market volatility upon traders' return from the holiday. The majority of the selling was in A-shares, with the remainder in Hong Kong-listed stocks. Despite this selling, there is growing optimism about Chinese equities due to recent stimulus measures by Beijing. Traders are now awaiting the government's planned briefing on fiscal policy. [Extracted from the article]

The article discusses the new two-pot retirement fund system in South Africa and its implications for expatriates. It emphasizes the importance of timing when considering an early withdrawal from retirement savings, highlighting factors such as exchange rates and the three-year lock-in rule. The article also mentions the need for compliance checks to ensure employers have contributed to retirement funds and provides information on the tax implications of withdrawals. It advises expatriates to seek tax advice before making any decisions regarding their pension. [Extracted from the article]

Alex Beard, the former head of oil at Glencore Plc, has appeared in a London court after being charged with corruption by the UK's fraud agency. He is accused of conspiring to make corrupt payments to government officials and state-owned oil firm employees in Nigeria and Cameroon over a decade ago. Andy Gibson, Glencore's ex-head of oil operations, also appeared in court and is facing charges of conspiracy to make corrupt payments and falsifying invoices. The case is focused on Glencore's relationship with an agent and his company, which allegedly provided a cover for the transfer of money and cash withdrawals. The next hearing is scheduled for October 8th. [Extracted from the article]

The Australian media is undergoing significant changes that are poorly reported and not well understood. Evidence of these changes can be seen in the declining commercial performance of TV broadcasters, the speculation about the future of newspapers, and the growing news avoidance among young people. Media companies are also facing challenges from tech platforms, leading to job cuts and a changing balance of power. The decline in trust in media has implications for social cohesion and democracy. The Conversation has launched a new series to explore these changes and their impact on Australian society, starting with an examination of the shift in power from media barons to tech companies. [Extracted from the article]

The article highlights the top horse racing betting sites in Nigeria, emphasizing the criteria for choosing reputable platforms such as licensing, high ratings, and reliable payment systems. Topics discussed include the best betting sites like PariPesa, 1xBet, and Bet365, their payment options, and the types of betting they offer.

This article discusses the importance of being mindful of fees and scams when using debit and credit cards abroad. It highlights that many banks charge additional fees for transactions made outside of the UK, but there are some banks that do not impose these fees. The article also mentions fee-free credit cards and prepaid cards as alternative options. It warns readers about gift card scams and advises them to be cautious when providing personal information or making payments for gift cards or prizes. Overall, the article provides practical advice for saving money and protecting oneself from fraud while traveling. [Extracted from the article]

The adoption of digital supplier payments, facilitated by digital wallets from fintech companies like Kazang, is helping to reduce security risks, costs, and inefficiencies associated with cash payments for micro merchants and informal retailers. This shift towards digital transactions allows these merchants to mitigate the risks of physical cash loss and exposure to cash crimes. Affordable card acceptance terminals provided by Kazang have also contributed to the digitization of supplier payments, enabling merchants to accept card payments and offer cash withdrawals at the point of sale. This transition to digital payments improves cash flow management, reduces costs, and creates a safer trading environment for micro merchants. [Extracted from the article]

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Malaysia's consumer prices in July were lower than expected, leading analysts to revise their inflation forecasts for the year. Maybank Investment Bank and RHB Bank have lowered their projections to 2% and 2.1% respectively, while United Overseas Bank and Kenanga Investment Bank did the same last month. The government's intervention measures have mitigated the impact of higher diesel prices on inflation, allowing the central bank to maintain the benchmark interest rate at 3% for the rest of the year. The trajectory of inflation will depend on factors such as subsidy reforms, pension fund withdrawals, global commodity and food prices, and civil servant salary increases. Maybank analysts anticipate inflation ranging between 2.5% and 3% in 2025 due to uncertainty surrounding subsidy rationalization. [Extracted from the article]

The promotion of Zhang Linlin, a Chinese official who was previously demoted for manipulating pandemic health codes, has sparked controversy and claims of institutional injustice. Zhang's misuse of Covid control measures to restrict the movements of rural investors caused nationwide outrage in 2022. Despite this, Chinese media recently reported that Zhang is now serving as party chief of the culture and tourism bureau in Zhengzhou. This appointment has led to criticism online, with citizens expressing their frustration and questioning the rule of law in China. The situation highlights ongoing doubts about accountability within the country's bureaucracy, despite President Xi Jinping's efforts to combat corruption. [Extracted from the article]

Klarna Bank AB, a fintech company, is expanding its services to include retail-banking in the US and Europe. Customers in 12 countries will now have the option to add money from their bank accounts to a digital wallet called Klarna balance, which offers cash-back rewards and refunds. In Europe, Klarna will offer interest rates of up to 3.58% for savings, allowing it to compete with major US banks. In the US, Klarna will offer more limited services without the savings option, similar to digital wallets like Venmo or Starbucks. Klarna is diversifying its funding ahead of a planned IPO in the US. [Extracted from the article]

Klarna Bank AB, a fintech company, is expanding its services beyond its buy-now, pay-later offering by adding retail-banking services in the US and Europe. Customers in 12 countries will now have the option to add money from their bank account to a digital wallet called Klarna balance, which offers cash-back rewards and refunds. In Europe, Klarna will offer interest rates of up to 3.58% for savings, allowing it to compete with major US banks. In the US, Klarna will offer more limited services without the savings option, similar to digital wallets like Venmo or Starbucks. Klarna is diversifying its funding streams ahead of a planned IPO in the US. [Extracted from the article]

Police in Greenbelt, Maryland discovered two ATMs that had a piece of metal glued over the cash withdrawal slit. This was discovered at a Bank of America branch and Capital One ATM, according to a report by WTOP News. The object was a piece of metal trim or metal rule, and a single $20 bill was jammed inside one of the ATMs. [ABSTRACT FROM AUTHOR]

Stanbic Bank Zimbabwe is expanding its network of Automated Teller Machines (ATMs) in response to growing client demands. The bank has installed ATMs in new locations across Zimbabwe, particularly in areas where it does not currently have branches. This strategic move aims to increase accessibility and convenience for clients, providing a full range of services including cash withdrawals and cash deposits. The bank believes that strategically placing ATMs in underserved areas contributes to the overall development of the communities it serves. Stanbic Bank is also rolling out bulk note acceptors to enhance the functionality of its ATMs. [Extracted from the article]

The article reports that the Zimbabwean government is targeting excessive fees charged by banks. Some banks charge high fees for services such as cash withdrawals and account maintenance, which has led to financial exclusion for many Zimbabweans. Deputy Minister David Mnangagwa stated that directives on bank charges will be given in the future if banks do not take action. The government is urging engagement with the banks, but the issue is ultimately in the hands of the monetary authorities. [Extracted from the article]

Mastercard is working on expanding transportation projects in Azerbaijan, allowing customers to use their Mastercard cards to pay for public transport. They have already implemented a successful project in Shamakhi, where users have been able to pay their fares cashless for three years. Mastercard is also collaborating with government authorities and banking partners to extend this experience to other cities in Azerbaijan. Mastercard is an international payment system that provides financial services and technology solutions to banks, merchants, and other financial institutions. Their cards are accepted in many countries and used for various transactions. [Extracted from the article]

The Central Bank of Azerbaijan has stated that while the Russian Mir payment card is not accepted by the country's acquiring systems, Azerbaijani banks can still assist customers with this card. Each commercial and financial institution in Azerbaijan has the autonomy to decide whether or not to work with the Mir card. However, it should be noted that the Mir cards are not accepted in the acquiring networks of Azericard and Milli Card. The Russian Ministry of Foreign Affairs has reported that Mir payment system cards have been operational in Azerbaijan since June 2024, with cash withdrawals available from VTB Azerbaijan ATMs. [Extracted from the article]

According to the Federal Trade Commission (FTC), consumers in the United States lost $76 million to scammers impersonating government agencies in 2023, which is a 90% increase from the previous year. The losses continue to rise, with the FTC reporting $20 million in cash payment losses to these scams in the first quarter of 2024. The median loss for cash payments to government impersonation scammers was $14,740, significantly higher than the median loss for all payment types. The FTC warns consumers about the growing popularity of cash as a preferred payment method for scammers and emphasizes the role of financial institutions in preventing these scams. [Extracted from the article]

Labour plans to establish 350 new banking hubs across the UK in the next five years to address the decline in face-to-face banking services. This initiative, if successful, would significantly increase the number of hubs compared to the current voluntary arrangements between banks and the government. The hubs would provide physical locations where customers can access cash withdrawals, deposits, and advice, especially in areas where individual branches have closed. The policy aims to cater to rural voters and revitalize the nation's high streets. The hubs, funded by banks and operated with the assistance of the Post Office, have faced criticism for their slow implementation. Labour estimates that the expansion would contribute £415 million ($527 million) to the UK's high streets. [Extracted from the article]

Hunter Biden's defense lawyer questioned key witnesses at his criminal trial in Delaware about whether they knew if he was under the influence of drugs when he purchased a gun. The defense attorney raised doubts about the truthfulness of texts sent by Biden after he bought the gun, in which he mentioned drug use. Prosecutors presented evidence of Biden's drug use, including testimony from his ex-wife and former girlfriend. The defense's argument also focuses on a technical reading of firearm laws and the form Biden filled out to buy the gun. The trial is the first of two for Hunter Biden, with another on tax charges scheduled for September in Los Angeles. Additionally, Republican chairmen of three House committees sent criminal referrals to the US Justice Department recommending charges against Hunter Biden and the president's brother for making false statements to Congress. They claim these statements were an effort to protect the president from further investigation into alleged family influence peddling schemes. [Extracted from the article]

Hunter Biden's defense in his criminal trial for firearms charges is centered around the argument that he may have been lying in text messages about his drug use and that witnesses cannot confirm whether he was under the influence when he purchased a gun. The defense attorney raised doubts about the truthfulness of the texts and questioned the personal knowledge of an FBI agent regarding their accuracy. Prosecutors presented evidence of Biden's drug use, including testimony from his ex-wife and former girlfriend. The defense also focused on a technical interpretation of firearm laws and the form Biden filled out to purchase the gun. The trial is the first of two for Hunter Biden, with another scheduled for September on tax charges. Separately, Republican lawmakers have sent criminal referrals to the Justice Department recommending charges against Hunter Biden and the president's brother for making false statements to Congress. [Extracted from the article]

Zimbabweans are experiencing a shortage of cash despite assurances from the Reserve Bank of Zimbabwe (RBZ) that the newly introduced Zimbabwe Gold (ZiG) currency has been adequately distributed to banks. A survey reveals that banks have received the promised cash, but people are not withdrawing it due to the country's shift towards cashless transactions. This has led to practical challenges for vendors and small businesses who rely on cash transactions. The RBZ and banks are trying to address the issue by incentivizing cash withdrawals and promoting the benefits of keeping cash on hand. However, the solution lies in balancing the benefits of a cashless society with the practicalities of cash-based transactions. [Extracted from the article]

Mastercard is planning to introduce a new AI-based service in Azerbaijan to combat cyber security, cybercrime, and fraud in card transactions. The company aims to provide a high level of protection for cardholders by using scoring to assess transaction security. Mastercard is also working on expanding transport projects in Azerbaijan, allowing customers to use their cards to pay fares on public transport. The company sees significant potential for growth in cashless payments in Azerbaijan and is actively working to increase the share of non-cash transactions. Additionally, Mastercard plans to introduce money transfers to mobile phone numbers in the Azerbaijani market and already has a service that allows transferring funds between accounts beyond the card. The company actively uses artificial intelligence in its activities, including detecting fraud and making transaction routing decisions. Mastercard is an international payment system that provides financial services and technology solutions to banks, merchants, and other financial institutions. [Extracted from the article]

Mastercard is set to launch a new service on an artificial intelligence (AI) platform in Azerbaijan, according to Emil Zeynalov, Mastercard's regional manager in the country. Zeynalov highlighted the growing trend of AI and mentioned that Mastercard is incorporating AI into its technologies, including those being introduced to the Azerbaijani market. The new services will focus on combating cyber security, cyber crime, and fraud in card transactions, providing a high level of protection for cardholders. Mastercard is an international payment system that offers financial services and technology solutions for banks, merchants, and other financial institutions. [Extracted from the article]

Mastercard is utilizing artificial intelligence (AI) extensively in its operations, according to Avşar Gürdal, Mastercard's General Director for Azerbaijan and Türkiye. The company's infrastructure is built on AI models, and they recently acquired Brighterion, a company that develops AI models for business decisions. AI is used to detect fraud, determine the nature of transactions, and provide assessments for issuers and acquirers. Mastercard Advisors also collaborates with members to use AI models for credit risk underwriting and cross-selling mechanisms. The company plans to increase its projects, particularly with partner banks, in the future. [Extracted from the article]

In this article from Alberta Views, the author discusses the idea of creating an Alberta Pension Plan (APP) to counteract the Canada Pension Plan's (CPP) divestment from oil and gas investments. The author references the example of Norway's Sovereign Fund, which avoids investing in Norwegian companies to prevent crony capitalism. They also mention Quebec's use of mechanisms to support its local industry. The author criticizes UN Secretary General António Guterres for discouraging graduates from pursuing jobs in the fossil fuel industry and argues for pushing back against international agencies by repatriating investment dollars. [Extracted from the article]

Investors are closely watching Asian countries for potential policy changes in response to the strengthening US dollar. Indonesia's surprise interest rate hike to defend the rupiah has put other central banks in the region on alert. The currencies of Japan, South Korea, Thailand, Taiwan, Malaysia, the Philippines, and India are all trading near multi-year lows, increasing the likelihood of more aggressive actions to stabilize their currencies. Central banks in Asia face the difficult choice of dampening economic growth or protecting their exchange rates. The prospect of higher US interest rates relative to Asia may lead to a withdrawal of global funds from the region and further depreciation of local currencies. Some countries, such as India, Thailand, and Indonesia, are already experiencing net fixed income withdrawals. Central banks may resort to intervention rather than interest rate adjustments as their first response to currency depreciation, especially if inflation remains under control. [Extracted from the article]

Tata Asset Management Pvt., an Indian fund manager, has reduced the average maturity of its flagship bond fund in anticipation that the central bank will not lower interest rates before global peers. The fund manager has cut the average maturity to about five years, compared to nearly 14 years for the benchmark Crisil dynamic gilt index. This move goes against the trend of other fund managers and reflects concerns about delayed easing cycles by central banks, a strengthening dollar, and the possibility of a spike in crude oil prices. The fund manager is also increasing investments in the five to ten-year segment of the bond market to reduce interest-rate risk. They believe that the Reserve Bank of India will take 12 to 18 months to reach its inflation target and will not rush to withdraw the tightening cycle. [Extracted from the article]

Kotak Mahindra Bank Ltd. experienced difficulties with its computer servers, resulting in disruptions to cash withdrawals and digital transactions. The bank's technical servers were experiencing intermittent slowness, but services were restored by Monday evening. Customers took to social media to express their challenges, and the bank's shares were down 1.1% in early Tuesday trading. Kotak has been focusing on technology development to improve customer experience, with a significant portion of transactions being conducted digitally. Technical glitches are a common issue for Indian banks as they strive to expand their digital reach. [Extracted from the article]

Kotak Mahindra Bank is currently experiencing difficulties with its computer servers, resulting in customer complaints about issues with cash withdrawals and digital transactions. The bank is actively working to resolve the problem and restore services, but no timeline has been provided. Customers have taken to social media to express their challenges, including the inability to withdraw cash and make payments. This incident highlights the challenges faced by Indian banks in expanding their digital reach due to technical glitches, which have previously led to regulatory intervention. [Extracted from the article]

Mastercard has announced its goal to enhance the digitalization of payments in Azerbaijan, according to Avsar Gurdal, the General Manager of Mastercard for Türkiye and Azerbaijan. The company aims to simplify the issuance of cards by utilizing digital acquisitions and digital cards. Mastercard is an international payment system that offers financial services, including credit, debit, and prepaid cards, allowing users to make cashless payments worldwide. It also provides technology solutions for banks, merchants, and other financial institutions, and its cards are accepted in numerous countries for various transactions. [Extracted from the article]