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Economic News, Trends, Analysis

Rising demand for energy storage solutions worldwide is set to drive the hydrogen market to a value of US$2.5 trillion by 2050, according to new research from industry body The Hydrogen Council. The new report from the industry association suggests the fuel will “become instrumental” in meeting greenhouse gas emission...
The fintech industry is growing exponentially with global funding for the sector reaching US$31 billion in 2017, according to consultancy KPMG. Yet as the number of opportunities grows so does the difficulty in raising awareness of new products and services. Hence the need for a clear, effective marketing strategy to...
Banking group Royal Bank of Scotland has announced it is on course to pay its first dividend in 10 years, in signs that its financial position is strengthening.  Management plans to pay 2 pence a share as an interim dividend once it completes its US$4.9 billion settlement with the US Department...
National lender State Bank of India is reported to be considering a tie-up with cryptocurrency firm Ripple to power instant remittance payments into the country. The crypto-firm has seen rapid growth in interest in the country following news last month that Kotak Mahindra Bank would implement its xCurrent system for payments. India’s...
Hydrogen energy storage developer ITM Power has signed a strategic partnership deal with Sumitomo Corporation that will pave the way for "multi-megawatt projects" in Japan. “Japan is a strategically important territory for hydrogen. This partnership is based upon Sumitomo’s knowledge of Japan – the customer base and the compliance landscape. We’re...
Dark days are coming for U.S. consumers, as total consumer debt is expected to touch $4 trillion in December 2018. Consumers are spending around 10% of their income on credit cards, student loans, car loans, and personal loans every month. They are on a complete shopping spree. US Consumer debt...
Technology developer Highview Power has launched the world’s first liquid air energy storage plant opens near Manchester in the UK, potentially carving a new alterantive to the multi-billion dollar lithium ion (li-ion) battery sector for global energy storage. The pioneering liquid air energy storage (LAES) plant in Pilsworth will act as...
Dutch banking group ING has called cryptocurrency a “significant” potential disruptor for the banking sector as it plans to focus increased investment in the space. “The key enterprise value is twofold: blockchain-based solutions will introduce efficiencies to existing processes, thereby reducing transaction times, and costs alongside improving privacy and security...
European banking group Rabobank is reportedly exploring options to deploy its own cryptocurrency wallet as it also conducts parallel trials with Ripple’s  Xcurrent system and interledger protocols. The Dutch bank has developed the cryptocurrency project under its internal “Moonshot” program and is now planning to launch a wallet “within its...
With no end in sight for the formation of a stable government, Italians again face the prospect of elections as three months of attempts to form a coalition government look set to break down.                    President Sergio Mattarella’s veto of 81-year-old eurosceptic Paolo Savona as economy minister at the weekend tipped...