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$5.4bn mistakenly transferred by German state bank to other financial institutions

Published time: 25 Mar, 2017 08:48 State-owned German development bank KfW mistakenly transferred billions of euros to four other banks due to a “configuration mistake” made by an “experienced programmer,” according to media reports. The incident took place in late February, when Kreditanstalt für Wiederaufbau (KfW) erroneously transferred around €5 billion ($5.4 billion) to four…

Suicides cost Japan's economy $4bn annually

Published time: 24 Mar, 2017 11:32 Japanese national broadcaster NHK has calculated the potential economic loss to the country from suicides at more than $4 billion a year. Read more The calculation is based on 23,000 suicide victims in 2015, aged from 15 to 69 years, and had they lived and worked until their 70s.…

Russia's banking system has SWIFT alternative ready

Published time: 23 Mar, 2017 13:09 If the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is shut down in Russia, the country’s banking system will not crash, according to Central Bank Governor Elvira Nabiullina. Russia has a substitute. Read more “There were threats that we can be disconnected from SWIFT. We have finished working on…

Russia blasts Turkey over draconian agriculture tariffs

Published time: 23 Mar, 2017 09:50 Russian Agriculture Minister Aleksandr Tkachev has criticized Ankara for imposing a 130 percent tariff on Russian wheat and corn. The measure could halt Russian agricultural exports to Turkey. Read more “Turkey’s actions cast doubt on the sincerity of intentions to build a lasting relationship. We do not accept attempts…

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