money

Gold smuggling likely to rise in India as festive buyers try to avoid new tax

Mumbai - Muslimchronicle

Gold smuggling in India, the world’s second-biggest consumer of the metal, is likely to rise during the country’s peak holiday season as buyers try to avoid paying a new sales tax and to dodge new transparency rules. In August, India moved to include gold sales under the Prevention of Money Laundering Act (PMLA). The law makes it mandatory for jewelersRead more

Saudi central bank raises reverse repo rate, keeps repo flat

Riyadh – WAM

Saudi Arabia's central bank has said that it had raised its reverse repo rate, the rate at which commercial banks deposit money with the central bank, by 25 basis points to 1.00 percent. But the central bank said it was keeping its repo rate, which it uses to lend money to banks, unchanged at 2.00 percent. A central bank statementRead more

S. Korea's Money Supply Up 6.9% in January

Seoul - QNA

The money supply in South Korea jumped 6.9% in January from a year earlier, the central bank said Thursday.The nation's "M2" totaled 2,412.6 trillion won about (US$2.09 trillion) in January, compared with 2,264.6 trillion won a year earlier, the Bank of Korea (BOK) said in a statement. Month-on-month, the money supply gained 0.1%, South Korea's News Agency (Yonhap) reported.M2 isRead more

Five reasons why talking about money can enhance relationship

Muscat - Arab Today

Thinking about combining finances with your significant other? Whether you’re getting married or just thinking about getting serious, talking about money can help couples understand each other and avoid unhappy surprises down the road. Here are five reasons why talking about money can enhance a relationship. Makes couples happier Talking about things like spending, saving and debt may sound business-likeRead more

Men ‘offered Dh40,000 bribe to Dubai Customs inspectors to clear shipment of musical instruments’

Dubai - ArabToday

Two men offered Dubai Customs inspectors a Dh40,000 bribe to free up a shipment of musical instruments that had been confiscated on arrival, a court has heard. Prosecutors said that on May 17 last year the Indian manager, 45, and his business partner, 46, offered the bribe and asked inspectors to stamp the shipment papers at Jebel Ali Port. TheyRead more

UAE Central Bank announces M1 increased to AED474.0 billion

Abu dhabi - WAM

The UAE Central Bank has announced that the Money Supply aggregate 'M1' increased by 0.3% from AED472.6 billion at the end of November 2016 to AED474.0 billion at the end of December 2016. In its statement, the bank added that Money Supply aggregate 'M2' increased by 1%, from AED1212.9 billion at the end of November 2016 to AED1225.5 billion atRead more

Experiential purchases makes people more grateful

Washington - Xinhua

Spending money on experiences, not material goods, will make people more grateful and generous, according to a recent study published in a U.S. psychological journal. Focusing on the connection between spending money and happiness, Thomas Gilovich, a professor of psychology at Cornell University, together with his co-researchers, conducted six experiments and explored how spending money in different ways will affectRead more

South Korea's Money Supply Up 7.2% in June

Seoul - QNA

Money supply in South Korea grew more than 7% on-year in June, largely due to a rise in household debt, the central bank said Wednesday. The nation's "M2" totaled 2,335.5 trillion won about (US$2,135.4 billion) for the month, up 7.2% from a year earlier, according to the Bank of Korea (BOK). It marks a 0.7% rise from May, South Korea'sRead more

China's Central Bank Injects 10 Bn Yuan into Market

Beijing - QNA

China's central bank on Thursday pumped more money into the market for the fourth-consecutive day. The People's Bank of China (PBOC) put 30 billion yuan about (4.49 billion US dollars) into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future. The reverse repos were priced toRead more

China's Central Bank Injects Liquidity into Market

Beijing - QNA

China's central bank pumped money into the inter-bank market to provide more liquidity. The People's Bank of China (PBOC) put 50 billion yuan (around 7.6 billion US dollars) into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future. The reverse repo was priced to yield 2.25%Read more