BANQUE DE FRANCE
France sells 129 tonnes of gold held in US for $15 billion profit! Here’s how it happened
Banque de France shifted 129 tonnes of gold reserves from New York to Paris by selling older non-standard bars held at the Federal Reserve Bank of New York and buying new compliant bullion in Europe. The move upgraded reserve quality, brought holdings closer to home, and generated a financial gain.
France’s secret gold strategy explained: How Banque de France turned US-held bullion into €12.8 billion profit
France gold profit strategy: France's central bank has completed a strategic move to bring its gold reserves entirely to Paris. Instead of physically transporting gold, it sold older bars in New York at peak prices. The proceeds were used to buy new, high-standard gold in Europe. This smart financial maneuver generated a substantial profit for the bank and modernized its reserves.
France heading the Greece way? Rating downgraded again, third hit in a month - economy faces full-blown credit crisis
France is in trouble. Its credit rating fell for the third time this month. S&P cut it to A+ as debt climbs toward 121% of GDP. Political deadlock and stalled reforms are raising alarms. Borrowing costs are up, and investors are nervous. Is France heading the same path Greece took years ago?
PM Modi to meet UK PM Keir Starmer in Mumbai
Prime Minister Narendra Modi will meet with UK counterpart Keir Starmer in Mumbai to discuss the India-UK Comprehensive Strategic Partnership, focusing on trade and investment. The visit includes inaugurating infrastructure projects, including the Navi Mumbai International Airport and the final phase of Mumbai Metro Line-3. Both leaders will also address the Global Fintech Fest, highlighting technological advancements and financial inclusion.
Why high gold prices are making both banks and borrowers smile
Rising gold prices are helping small businesses and reducing loan defaults. Lenders like Muthoot Finance and Manappuram Finance are auctioning less gold. Borrowers are prioritizing repayments. Banks are also closely monitoring gold loans. Reserve Bank of India's warning against malpractices has improved lending standards. More people are now able to retain their pledged gold.
The story of India's digital payment revolution - a public good gone viral
In FY2022, UPI processed more than 46 billion transactions totalling ₹84.17 trillion, which translates to $1 trillion and 85% growth in volume year-on-year, according to data by the National Payments Corporation of India (NPCI). Meanwhile, I still write cheques sometimes in Washington to pay bills.
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Gold hovers near two-year low as rate-hike fears persist
India has slashed the base import prices of gold, palm oil, and crude soya oil, the government said in a statement late on Thursday. Meanwhile, holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, rose 0.15% to 962.01 tonnes on Thursday from 960.56 tonnes on Wednesday. Spot silver dipped 0.7% to $19.01 per ounce.
France could get digital euro next year: central bank
"We'd like to get to a viable prototype, test it in practice with more private actors and more central banks in the second half of this year and next year," Banque de France chief Francois Villeroy de Galhau told a conference.
The consequences of the euro's fall to dollar parity
Now, more euros are needed to pay for an equivalent amount of goods in dollars. It will dampen European tourism to the United States in particular. But, the effect of the decline in the value of the euro varies, depending on how reliant a business is on foreign trade and energy.
Banking on Reputation
Over the previous decade, he and the heads of the three other major central banks had been part of what the newspapers had dubbed 'the most exclusive club in the world.'
Fifty years ago, an assassin appeared who, unlike Bonds and Bournes, was strong and silent
There's something pathetic about Forsyth's assassin prowling around his London flat, living with the desperate anguish of unaccustomed failure, his reputation in the hard-eyed marksmen's world in tatters.
Thinking of purchasing art purely for investments? It's a suitable diversification strategy for the wealthy
Masterworks platform allows individuals to buy shares of specific artworks in $20 increments.
Central bank sees French GDP down 9-10% in 2020
The Banque de France had forecast in September that economic activity, or GDP, would decline by 8.7 percent this year.
The ECB weighs a profound shift in policy
Investors might try to secondguess what result the ECB has in mind.
ECB’s power struggle will all end in tiers
More than 1.83 trillion euros ($2.1 trillion) now sits idling with the national central banks.
Credit set for worst year since 2008 as crashes roil market
High-yield and investment-grade notes are headed for losses in both euros and dollars.
3 instances in history tell you why it’s time to run away from bitcoin
The bitcoin bubble has been created due to excessive demand in the market and rising prices.
India at exciting but challenging time: RBI Deputy Governor Viral Acharya
As one of the world's fastest growing economies, India has the massive potential to become an "economic powerhouse, says RBI's new deputy governor.
Escargots in Ambala? Suresh Prabhu travels in driver's cabin in French TGV bullet train
Prabhu travelled on TGV, the French high-speed train, which can clock up to the maximum speed of 320 km per hour, during his recent visit to France.
TCS acquires French IT services firm Alti for Rs 530 Crore
The all-cash deal will help TCS win more biz from corporations in markets such as Germany and France as they slowly warm up to greater offshoring to cut costs.
Separation of RBI's monetary policy functions from debt management may pose challenge for govt
Separation of RBI's debt management from monetary policy functions may be a challenge for the govt which is struggling to address fiscal dominance.
Germany's Bundesbank to bring some of its gold reserves
Germany amassed gold reserves in the post-war era thanks to rapid economic expansion that saw growing exports to the United States.
ArcelorMittal episode depicts France's anti-capitalist neurosis and its relationship with money
The French are easy to make fun of, but 64 million people don't end up running the fifth-largest economy in the world without having something on the ball - be so thick?
RBI strengthens ties with DFSA
RBI signed a Memorandum of Understanding with the Dubai Financial Services Authority during the visit of a senior DFSA official to Mumbai this week.
'India, China should wish the rest of the world also grows'
Pulitzer Prize-winning author and former Wall Street trader Liaquat Ahamed talks about writing, the Great Depression, Wall Street, Fed policies and more in a chat with Ullekh NP
Current slowdown and the Great Depression
The Great Depression inspired a new American welfare system as a response to mass misery. More on Financial crisis | Ghosts of 1929 | Countries in recession
French FIs keen on India play
French bank Natixis is keen on entering the Indian market while SBI Life’s foreign partner Cardif is interested in increasing its presence in India.
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