The reform of social benefits in Russia, which has foreign currency ratings of BB+ and local currency ratings of BBB-, has taken a step forward, with the long-awaited replacement of social benefits in kind with cash payments that came into effect at the start of this year, Standard & Poor’s said in a report “Social Benefits Reform in Russia–A Necessary but Painful Step”. “Although this reform will create significant social, political, and financial pressure on regional governments, we believe that this reform, if it is carried out with due commitment and consideration, will be an important development toward the increased transparency and efficiency of services provision in the public sector,” said Standard & Poor’s credit analyst Boris Kopeykin. One of the primary goals of the reform is to lift the burden of the unfunded, or inadequately funded, social mandates from regional and local enterprises providing various social and communal services to the population.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more