Reddit Inc., the often controversial website and discussion platform that is a favorite of many cryptocurrency enthusiasts, is launching its own digital token.Through the summer, users of two Reddit subgroups familiar with digital coins, including the 1 million-member r/CryptoCurrency, will be able to earn tokens for things like posting a comment. The currency can be used to buy exclusive badges, to use animated emojis and to reply to Reddit comments using gifs.
Read more
The deal includes a little more than $6 billion in cash for damages, of which Visa will pay $4.4 billion and MasterCard will pay $790 million. As part of the settlement, credit card companies have agreed to reduce for eight months so-called swipe fees, that businesses pay credit card companies for card transactions they process. The temporary fee reprieve is valued at $1.2 billion.
Read more
The National Restaurant Association is asking Congress to mandate reduced credit card interchange fees, expanding upon the Durbin Amendment under the Dodd-Frank legislation. The request is being made as restaurants seek assistance from Washington as the coronavirus shuts down businesses across the nation, with restaurants particularly hard hit.
Read more
The State Bank of Pakistan (SBP) is the country’s central bank. It was incorporated under the State Bank of Pakistan Act, 1956. The central bank is responsible for regulating liquidity and ensuring the soundness of the country’s financial system. Banks in Pakistan fall under the supervision of the SBP.
Read more
KARACHI: The World Bank has warned that Pakistan’s economy can shrink 1.3% to 2.2% in the current fiscal year whereas the International Monetary Fund (IMF) says the economy may contract 1.5%.
The State Bank of Pakistan (SBP) also believes all growth indicators will have to be revised downwards.
Read more