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Changes through the PSD2 Directive
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Payment Services Directive II (PSD2) arrived in Europe on 13 January 2018, after two years of planning. The idea behind EU having this regulation is to open access to services and data to third-party service providers, a privilege which was initially limited to banks only. Banks will permit financial service providers to access their clients’ accounts via an Application Program Interface (APIs). 

 

What is the Effect of PSD2 on Banks and Customers?

With non-bank payments service providers expected to have access to bank APIs, the customers are undoubtedly the biggest...

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Analysis
China's bold Silk Road-style plan to link Europe and Asia faces setbacks and costs
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In a bid that has frequently been sensationalized as a "modern Silk Road", China has invested more than $14 billion in creating railways, ports, and other avenues of trade and travel between Asia and Europe, which are otherwise connected only by Russia. China is set to invest much more in this Silk Road, but that may change, if their current difficulties, mostly resulting from relations with Pakistan, continue.

 

China's economic trade programm for Europe and Asia

Officially called the "Belt and Road Initiative", China has financed a wide array of projects...

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News
Global Economy to Grow in 2018
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In a move that has surprised many analysts, the World Bank has predicted that the global economy will grow 3.1 % in 2018 –  the highest prediction in the last seven years. This comes after 2017 produced a better-than-expected growth, which boosted global GDP by 3 %.

 

Drivers behind the expected growth

The World Bank noted that all the major regions in the world were experiencing positive economic growth. This, too, has happended for first time since the 2008 financial crisis. The US, Japan and EU are witnessing economic expansion, while emerging market economies...

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