East Africa Gets Easy Money Transfer System

An international money transfer company has launched an online service for East Africans to send and receive money more easily. Analysts say WorldRemit will lower the cost of transferring money and boost African trade and economies. Africa has become a thriving market for money transfer companies as its telecommunication facilities …

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Collapsing Emerging-Market Currencies Spark Concerns

First it was Argentina, quickly followed by Turkey. Now anxious investors and policy-makers are watching with alarm the plummeting currencies of several emerging-market economies, most of which have borrowed heavily in dollars. The nosediving currencies are prompting fears of a repeat of the 1997 Asian financial crash or the “Tequila …

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Argentina Seeks Early Release of Funds from IMF

Argentina will have to wait at least until the second half of September to find out whether the International Monetary Fund will agree to the early release of a credit line under a $50 billion backup financing arrangement approved earlier this year, Economy Minister Nicolas Dujovne said Tuesday.   Dujovne …

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Amazon Tops $1 Trillion in Stock Market Value

Amazon became the second big US company to hit $1 trillion in stock market value in the latest demonstration of the rising clout of American technology heavyweights. The online retail giant breached the $1 trillion valuation near 1540 GMT when it’s share price hit $2,050.50. The Amazon landmark comes about …

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