World bank most debt by country

State Bank Of India As the world debates the pros and cons of adopting a four-day workweek, hundreds of thousands of bank employees in India are demanding a five-day system. At least nine unions of bank employees will go on a day’s strike on June 27 to press their demand. They want time off every Saturday and Sunday, saying the technology at the disposal of banks would allow a smooth transitioning to a five-day workweek. “We have been talking to all stakeholders for the last seven years. But things have not moved as desired. A five-day work week is a basic demand from us and it’s for the betterment of health, and work-life balance of bank employees,” C.H. Venkatachalam, general secretary of the All Indian Bank Employees Association (AIBEA), told Moneycontrol. “Nearly 900,000 bank employees will shun work and protest on 27 June to drive this message and a few other demand points,” Venkatachalam  said. Bank employees in India are still working six days a week when other … [Read more...] about Forget a four-day workweek, bank employees in India want a five-day week​

Share to Twitter Share to Linkedin Bitcoin bank Custodia today sued the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City charging they have “unlawfully” delayed for 19 months acting on its application for a master account with the Federal Reserve. The bank, chartered in Wyoming under a crypto-friendly statute passed in 2019 allowing for “special purpose depository institutions,’’ says the master account would reduce its costs and is “vital” to its core mission of providing a bridge between digital assets and the U.S. dollar system. According to the suit, the Federal Reserve has a legal obligation to act within a year and states on its own paperwork that it ordinarily takes just five to seven days to act on a master account application. Custodia’s suit alleges the Kansas City Fed’s processing of its application was moving along until the Spring of 2021, when the main Federal Reserve got involved. The suit seeks to force the … [Read more...] about Bitcoin Bank Custodia Sues Federal Reserve, Demanding Decision On Master Account

Heads of Korea's top companies are making overseas trips to promote Busan's bid to host the 2030 World Expo and deal with other challenges like supply chain disruptions and rising raw material prices and interest rates. Chey Tae-won, chairman of SK Group, embarked on a business trip to Tokyo Thursday. This followed a trip to Paris from Sunday to Wednesday. Chey is also the chairman of the Korea Chamber of Commerce and Industry (KCCI). Chey’s visit to Tokyo was mainly to support the bid for the 2030 Busan World Expo. He will meet with the chairman of the Japan Chamber of Commerce and Industry while also carrying out meetings related to SK’s businesses. Prime Minister Han Duck-soo and Korean Chamber of Commerce and Industry Chairman Chey Tae-won have an interview with Robert Clark, chairman of the 2027 Minnesota Recognition Expo Bidding Committee, at the Intercontinental Hotel in Paris on Monday. [YONHAP] In Paris, where meetings of the Bureau International des … [Read more...] about Business titans go on world tours for Busan, their companies

Share to Twitter Share to Linkedin The Oklahoma mogul spoke to Forbes about how he's protecting his investments ahead of the “near certainty” of a recession. With the S&P 500 entering a bear market last week , many of America’s billionaires are convinced that a recession is in the offing . George Kaiser , one of the wealthiest people in Oklahoma with an estimated $9.5 billion fortune, is one of them. Kaiser, 79, told Forbes that a “recession seems a near certainty” and that he expects the economy to tip into a downturn in the first two quarters of 2023, with a prolonged dip in the stock market. The timing of the market bottoming out—the point at which the stock market hits a low and begins rising again—is still far off, according to Kaiser. “Historic analogies would suggest a 35% total drop from the peak, but that history is largely irrelevant since so many of the factors are unique,” he said. Kaiser, who has appeared on the Forbes … [Read more...] about Oil And Banking Billionaire George Kaiser Says Market Bottom Is Still Far Off

Share to Twitter Share to Linkedin Topline Leaders of the United Kingdom, Canada and other countries spoke out on Friday against the U.S. Supreme Court’s decision to overturn Roe v. Wade, a ruling that will restrict access to abortion in the United States as other countries broaden abortion rights. Key Facts British Prime Minister Boris Johnson said the Supreme Court’s decision is a “big step backwards,” adding that he’s “always believed in a woman’s right to choose.” Canadian Prime Minister Justin Trudeau called the ruling an “attack on women’s freedom” and “quite frankly … an attack on everyone’s freedom.” Spanish Prime Minister Pedro Sánchez tweeted , “we cannot take any right for granted” and “women must be able to decide freely about their lives.” Norwegian Prime Minister Jonas Gahr Støre called the decision “a serious step backwards for women’s rights” in a tweet translated to English. Belgian Prime Minister … [Read more...] about ‘Big Step Backwards’: World Leaders React To Roe V. Wade Decision

DREAMGATEWAY Exterior design of SMC’s P740-billion New Manila International Airport in Bulakan, Bulacan, the single most expensive infrastructure project in Philippine history. —CONTRIBUTED PHOTOS Ramon S. Ang is never out of new ideas, especially when it comes to expanding the business and economic footprint of one of the country’s largest conglomerates, which he heads. When we sat down for an interview recently, however, the president and CEO of San Miguel Corp. (SMC) seemed more focused than usual on one particular project—one mega project which, by his own admission, will only start making money two decades after its completion. At a total projected cost of P740 billion ($13.5 billion)—to be financed solely by the company without a single centavo of funding from the government—the new Manila International Airport in Bulakan, Bulacan, is the most expensive infrastructure undertaking in the country’s history whether by a public or private entity. “This is a legacy project … [Read more...] about World-class ‘aerocity’ rising

Representative Image (Image credit: ANI/Twitter) Prime Minister Narendra Modi will hold meetings with over 12 world leaders during his visit to Germany and the United Arab Emirates and will have over 15 hectic engagements, official sources said on Saturday. Modi will also speak at an Indian community event in Munich, which is expected to be the largest such programme post-COVID-19. He is travelling to Germany to attend the G7 summit, to be held on June 26 and 27, and will travel to the UAE on June 28 to pay his condolences on the passing away of Sheikh Khalifa bin Zayed Al Nahyan, the former president of the Gulf nation. Official sources said the prime minister will have multiple bilateral meetings in addition to attending the G7, a grouping of the world's seven richest nations, during his around 60-hour stay in Germany and the UAE. Foreign Secretary Vinay Mohan Kwatra said on Friday that Modi will hold bilateral meetings and discussions with the leaders of the G7 and also … [Read more...] about PM Modi to hold meetings with over 12 world leaders during Germany, UAE visit

C.J. Walker, the daughter of slaves, would not have become the first self-made female millionaire in America had she not traveled around the country training thousands of black women how to apply and sell her hair concoction. Anthropologists would never have had the insights we now know about primates had not a young British woman named Jane Goodall ventured to Africa to develop her own system of communicating with chimpanzees, despite being scoffed at by academics. And Spanx wouldn't be a staple of millions of women's wardrobes had Sara Blakely --who sold fax machines door to door at the time--not tried to mass produce a pair of pantyhose she hacked on her way to a party. These and other iconic stories of fearlessness are chronicled by Jean Case in her new book Be Fearless: 5 Principles for a Life of Breakthroughs and Purpose (Simon & Schuster, 2019). On Saturday, during a lively discussion at the Inc. Founders House in Austin, Case--the chairman of the National … [Read more...] about Want to Truly Make Your Mark on the World? Start by Following These 5 Principles

Ukrainian service members walk in the industrial area of the city of Sievierodonetsk, as Russia’s attack on Ukraine continues, Ukraine June 20, 2022. (REUTERS/Oleksandr Ratushniak/File Photo) KYIV/POKROVSK, Ukraine — Russian forces have fully occupied Sievierodonetsk, the mayor of the eastern Ukrainian city said on Saturday, confirming Kyiv’s biggest battlefield setback for more than a month, after weeks of some of the war’s bloodiest fighting. Ukraine called its retreat from the city a “tactical withdrawal” to fight from higher ground in Lysychansk on the opposite bank of the Siverskyi Donets river. Pro-Russian separatists said Moscow’s forces were now attacking Lysychansk. The fall of Sievierodonetsk — once home to more than 100,000 people, now a wasteland — was Russia’s biggest victory since capturing the port of Mariupol last month. It transforms the battlefield in the east after weeks in which Moscow’s huge advantage in firepower had yielded only slow gains. Russia will … [Read more...] about Ukrainian city falls to Russia in one of war’s bloodiest fights

(Representative image: Reuters) Dear Reader, A whiff of change wafted through the markets this week. The focus shifted from worrying over inflation to concerns about growth. The advance Purchasing Managers Indices (PMIs) for the current month for the US and the Eurozone showed slowing growth, but while they indicated inflation was cooling in the US, it continued to rise relentlessly in the Eurozone. They also reflected stalling demand and falling business confidence. The New York Fed’s economic model predicted an 80 percent chance of a hard landing for the US. UK consumer confidence hit a record low. In China, housing starts and property transactions reached extreme lows. The worries over an imminent recession in the US, the UK and the Eurozone sent commodity prices sharply lower. Copper prices have moved down dramatically. My colleague Ravi Ananthanarayanan wrote about the dark clouds hovering over steel . Crude oil prices too fell. That dissipated some of the … [Read more...] about MC Pro Weekender | A new narrative