Tagged: global crisis

November 21, 2023 @ 10:26 pm By Omar Faridi  |  

For SMEs, the year 2023 could mark a “turning point.” They have shown resilience “despite persistent inflation and the war in Ukraine, but they are now having to face rising interest rates which is making life tough for them for three reasons,” according to iBanFirst,… Read More

November 16, 2023 @ 8:12 am By Omar Faridi  |  

In 21 months of the war (since February 24, 2022), PeerBerry business partners Aventus Group and Gofingo Group have, in total, repaid PeerBerry investors €46.2 million or 92% of the total outstanding war-affected obligations. Today, Gofingo Group repaid PeerBerry investors €200 000 in war-affected loans…. Read More

September 23, 2023 @ 6:18 pm By Omar Faridi  |  

In 19 months of the war (since February 24, 2022), PeerBerry business partners Aventus Group and Gofingo Group have, in total, “repaid PeerBerry investors €45.52 million or 90.64% of the total outstanding war-affected obligations.” Compared to other war-affected platforms, PeerBerry claims that it is the… Read More

August 2, 2023 @ 9:10 am By Omar Faridi  |  

Revolut, the global financial super app with more than 30 million customers worldwide, has partnered with the charity match Game4Ukraine, which will take place on August 5th at Stamford Bridge Stadium in London. Two teams lineup, captained by ambassadors of the fundraising platform UNITED24, Andriy… Read More

July 23, 2023 @ 2:28 pm By Omar Faridi  |  

In 2022, PeerBerry business partners CreditPlus KZ, Credit365 KZ, and AutoMoney KZ in Kazakhstan all together “made €4.7 million in net profit – significantly more compared to 2021 (Aventus Group’s total net profit in 2021 in Kazakhstan was €0.8 million).” In 2022, Aventus Group companies… Read More

June 14, 2023 @ 10:17 pm By Omar Faridi  |  

Vouched, an AI-driven identity verification platform, announced it will provide identity verification services in support of the launch of FreedomID, a platform designed “to support refugees in their safe passage and settlement anywhere in the world, formed by UK tech company Zenoo.” Vouched expects to… Read More

May 16, 2023 @ 8:04 am By Omar Faridi  |  

PeerBerry business partners are repaying €1.8 million of war-affected loans. Under the Group guarantee mechanism in 15 months of the war, PeerBerry business partners have already “repaid €38.73 million, or 77.12% of the total war-affected obligations towards PeerBerry investors.” As noted in a blog post,… Read More

April 24, 2023 @ 8:32 am By Omar Faridi  |  

After “proactive” efforts to petition the Central Bank of the Russian Federation (The Central Bank), in September 2022, Revo Russia (OOO Revo Technologies MFC) obtained special permission in order “to accelerate repayment of its obligations to Mintos investors in payments larger than 10 million RUB… Read More

April 15, 2023 @ 11:26 am By Omar Faridi  |  

Andrew Bailey, Governor of the Bank of England, recently delivered a speech in which he commented on the major issues the UK faces, and tried to set out how they “fit together and the challenges they give rise to.” Baily said that in recent weeks,… Read More

January 30, 2023 @ 2:17 pm By Omar Faridi  |  

  As war continues to rage in Ukraine and inflation impacts the economy, fintechs and digital banks expect the subsequent global economic downturn “to drive a rise in financial crime – and they’re staffing up their financial crime prevention teams.” A new survey by ComplyAdvantage,… Read More

January 23, 2023 @ 12:32 pm By Omar Faridi  |  

Eleving Group has shared its operational and financial updates. Eleving Group continues “to reduce its portfolio exposure in Belarus.” The portfolio “has substantially decreased during last year and continues to further amortize.” The impact of the portfolio reduction “has been minimal on the Group’s financials…. Read More

January 16, 2023 @ 7:25 pm By Omar Faridi  |  

For the past 17 years the World Economic Forum’s Global Risks Report has warned about “deeply interconnected” global risks. Conflict and geo-economic tensions have “triggered a series of deeply interconnected global risks,” according to the World Economic Forum’s Global Risks Report 2023. These include energy… Read More

January 16, 2023 @ 9:25 am By Omar Faridi  |  

  2022 was a year of challenges, but also “huge wins” for Mintos and their investors, the company claims. During 2022, Mintos launched a new financial instrument, Notes, “benefiting our investors with investor protection mechanisms.” They also celebrated “reaching a milestone of 500 000 registered… Read More

January 12, 2023 @ 9:49 am By Omar Faridi  |  

The year 2022 was by far the most “eventful” year for the crypto market, according to Jack Tan, the Co-founder of WOO Network. According to Jack Tan of the WOO Network, the industry that has been struggling for years to get mass adoption “took back-to-back… Read More

December 26, 2022 @ 11:47 am By Omar Faridi  |  

The team at Landbay notes that 2022 started with rising inflation and the Bank of England base rate “followed suit with interest rate increases.” That scenario has “continued throughout the year with steeper rises than many had predicted.” Inflation is “at a 40-year high of… Read More

December 21, 2022 @ 8:07 pm By Omar Faridi  |  

Flexible working practices are “key” to helping workers weather the cost-of-living crisis, especially older people who now find themselves “unable to afford to retire.” according to an update from Sonovate. Based on a survey of 4,500 people and 500 business owners, Sonovate’s ‘Future World of… Read More

December 16, 2022 @ 8:07 pm By Omar Faridi  |  

MoneyGram (NASDAQ: MGI) is pleased to support our partners at the Stellar Development Foundation (SDF) on the launch of Stellar Aid Assist, which is described as “a first-of-its-kind blockchain-powered aid disbursement system that delivers relief funds quickly, affordably and efficiently to individuals in crisis.” As… Read More

November 22, 2022 @ 11:17 pm By Omar Faridi  |  

Interest is both “the cost of borrowing money for a borrower and the compensation of lending money for a lender,” the team at October notes in a recent update. As a lending platform, October explains they are “right in the middle and connect borrowers to… Read More

November 22, 2022 @ 8:04 am By Omar Faridi  |  

Alternative investment platform PeerBerry business partners are repaying EUR 1.8 million of war-affected loans. In 9 months of the war, under the Group guarantee mechanism, PeerBerry business partners have already repaid “over EUR 27.02 million, or 54% of the total war-affected obligations towards PeerBerry investors.”… Read More

November 13, 2022 @ 12:57 pm By Omar Faridi  |  

It’s been a time of “great change” in the UK, with political events unfolding alongside global economic themes, including high inflation and rising interest rates, the team at PensionBee notes. According to PensionBee, there’s “an interconnected relationship between inflation and interest rates; often when one… Read More