First Trust Bank to stop issuing own banknotes next year BelfastTelegraph.co.uk First Trust Bank has announced it will stop issuing its own banknotes next year and switch to dispensing Bank of England notes from its ATMs. https://www.belfasttelegraph.co.uk/business/northern-ireland/first-trust-bank-to-stop-issuing-own-banknotes-next-year-37812197.html https://www.belfasttelegraph.co.uk/incoming/article37812184.ece/ae02f/AUTOCROP/h342/First%20Trust%20logo Email First Trust Bank has announced it will stop issuing its own banknotes next year and switch to dispensing Bank of England notes from its ATMs. Weekly Business Digest Newsletter The bank said the move was a "commercial decision", taking into account the increased use of digital payments and mobile technology. First Trust banknotes, which account for 11% of all notes in circulation in Northern Ireland, will remain legal currency until midnight on June 30, 2022. Following this date, First Trust notes can be exchanged for … [Read more...] about First Trust Bank to stop issuing own banknotes next year
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Moves to phase out the euro’s highest-value banknote took a major step forward on Monday. Central banks across Europe’s single currency area stopped issuing the purple €500 bill amid concerns it makes life easier for criminals. The banknote's association with money laundering and terrorist financing has earned it the nickname “Bin Laden" in some circles. The €500 note makes it easier to transport large sums of money. For example, €1 million in €500 bills weighs just 2.2kg, compared with more than 20kg if €50 denominations are used. Germany and Austria are the only central banks in the euro area that will continue to issue the banknotes. Nevertheless both countries — known for their reliance on cash, especially for the settlement of large sums — will stop issuing the bill on April 26. At the start of this year, there were 521,630,046 €500 banknotes in circulation at a value of €260,815,023,000. While the issuing of … [Read more...] about Cash out: Eurozone banks stop issuing €500 note in fight against crime
MANILA - Will another dialogue between Catholic bishops and President Rodrigo Duterte finally put an end to the worsening word war between the two camps? An official of the Catholic Bishops' Conference of the Philippines (CBCP) had this question amid talk of another discussion between Church leaders and the firebrand leader. Fr. Jerome Secillano, executive secretary of CBCP's Permanent Committee on Public Affairs, said there is still no guarantee that Duterte will stop hurling attacks against the clergy even if they agree to hold another meeting. "Can that dialogue stop the president from hurling invectives, threats and insults to the Catholic Church? It may appear to be a noble initiative but the last time it happened, nothing of what was expected came out of it," Secillano said in an interview with Radio Veritas on Thursday. The priest added that instead of focusing on his tirades against the prelates, the government should direct their efforts in addressing more … [Read more...] about CBCP exec: Will fresh dialogue stop Duterte’s attacks vs bishops?
(Reuters) - Iran has stopped issuing tourist visas for Poles, Polish private Radio Zet said on Wednesday. Earlier this month Iran protested at Poland jointly hosting a global summit with the United States focused on the Middle East, particularly Iran to be held in February. On Wednesday afternoon the Iranian embassy in Warsaw was not immediately available for comment. (Reporting by Anna Koper; Writing by Marcin Goclowski) … [Read more...] about Iran stops issuing tourist visas for Poles
By David Milliken LONDON (Reuters) - Britain should stop issuing inflation-linked bonds that are tied to a flawed measure of price growth that gives bondholders an undeserved £1 billion windfall each year, lawmakers said on Thursday. The government should issue bonds linked to consumer price inflation (CPI) rather than the older Retail Prices Index (RPI), the economic affairs committee of Britain's House of Lords concluded after a six-month inquiry. It also called on statisticians to fix the most obvious errors in how RPI is calculated. "We're at a loss to understand why they are not doing what they are required by law to do," committee chairman Michael Forsyth said of the United Kingdom Statistics Authority, which oversees the quality of official statistics. Many purchasers of index-linked bonds are insurers who want income to pay private pensions that are linked to RPI. Since 2013, the UK Statistics Authority has said RPI fails to meet adequate quality standards and that the … [Read more...] about UK should stop issuing RPI-linked gilts, focus on CPI