The approach to international trade has shifted from measuring the face value of a product to considering where production occurs. This change affects how the sophistication of a country's export basket is assessed. A recent paper utilizes the latest OECD Trade in Value Added database to re-evaluate cross-country export sophistication, as defined by Hausmann et al. (2007). The findings indicate that the gap between high-income and low-income countries' export sophistication is wider when viewed from a value-added perspective.
Governor Lesetja Kganyago of the South African Reserve Bank addressed the 2024 Payments Conference, focusing on the evolution and future of payment systems. In his opening remarks, Governor Kganyago highlighted the journey of modernizing payments, noting both past achievements and current challenges.
Non-governmental pension funds (NPFs) in Russia are now able to purchase shares during initial public offerings (IPOs) if the aggregate value in on-exchange trading reaches at least ₽3 billion. This marks a significant reduction from the previous threshold of ₽50 billion.
Binance announced the launch of Binance Fixed Rate Loans, providing borrowers with predictable costs and flexible loan terms. This offering is designed to support larger loans and long-term financial planning by allowing users to choose a fixed interest rate.
Data from credit history bureaus (CHB) indicate an increase in lending to borrowers under 35 years old by 8 percentage points across all lending segments.
Starting October 1, 2024, the sale of complex insurance products with an investment component to non-qualified investors will require a test to ensure customers understand the specific features and risks. This requirement is part of a new law that took effect on the same date.
Low interest rates on credit cards during promotional periods cannot be used as a basis for calculating the total cost of credit (TCC), according to a recent directive from the regulator. The relevant information letter has been sent to credit institutions.
The Bank of Canada Museum has launched a new educational resource titled "You Are the Economy." This free suite of six lesson plans is aimed at Grade 7–12 students across Canada, focusing on economic and financial literacy. The resource is available in both official languages and aligns with the latest Canadian curricula.