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The Latest Breaking News from BIS

Seagate agrees to pay US gov $300m for selling Huawei some hard drives

Seagate holds it did nothing wrong, but would rather give the gov $15m/quarter for the next five years than fight the case.

PC Gamer

US imposes $300m penalty on Seagate over Huawei shipments

WASHINGTON: United States authorities on Wednesday imposed a US$300 million penalty on Seagate Technology, to resolve alleged violations of export controls related to selling hard disk drives to Huawei Technologies, the Commerce Department said.

Bangkok Post

Central banks going crypto. Is it a good idea?

Across the world, these sober institutions are exploring digital currencies — and clashing with crypto aficionados

Financial Times

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Don't delay SNP special conference, grassroots campaign founder urges

A LEADING figure in the Scottish independence campaign says there should be no delay to the SNP special conference.

The National (Scotland)

Conflict of interest: have low cash rates created the ‘everything bubble’?

In new book The Price of Time, economist Edward Chancellor explores the role central banks have played in the snowballing challenges of the past quarter century

The Guardian - AU

Yuan jumps to fifth most traded currency

The Chinese yuan has leaped over the Australian, Canadian and Swiss currencies to become the fifth most traded currency in the world, according to the Bank for International Settlements (BIS).

Bangkok Post

Secretive chip startup may help Huawei circumvent US sanctions

When the US government blacklisted Huawei Technologies Co. as a national security threat, it cut the Chinese company off from buying American semiconductors and other critical technologies. Now Huawei may have a path around those restrictions.

Tribune News Service

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US to move $3.5bn in Afghan assets to Swiss-based trust

Housed in the Bank for International Settlements, new Afghan Fund will be managed by a board of trustees, the US says

Al Jazeera

U.S. to move $3.5 billion in Afghan central bank assets to Swiss-based trust

The United States on Wednesday announced that it would transfer $3.5 billion in Afghan central bank assets into a new Swiss-based trust fund that will be shielded from the Taliban and used to help stabilize Afghanistan's collapsed economy.

Reuters

BIS banking on CBD products for animals

Cannabis and hemp-derived cannabidiol (CBD) has the potential to boost the pet care business, following the first-ever development of new CBD-based products for animals in Thailand, says Bioscience Animal Health Plc (BIS), an animal drug and vaccine provider.

Bangkok Post

Alan Kohler: The hubris of central bankers and the limits of money

Once again central banks, including Philip Lowe’s Reserve Bank, have kept extreme monetary policies in place for too long

The New Daily

India’s only BIS-certified flag-making unit trumped by polyester flags

Khadi Sanghas have planned a symbolic protest on July 27 against amendments to the Flag Code

The Hindu

Scots indie music legends Bis set for stage at Ayr United

The night at Cameron's Bar will see cult favourites Bis perform some of their biggest hits.

Daily Record

Alan Kohler: A recession we don’t have to have is coming, and it will be the RBA’s fault

The RBA has turned on a sixpence, from smiling benignly and welcoming some inflation to sprouting horns and bringing on a recession we didn't have to have.

The New Daily

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The Conversation

1970s-style stagflation now playing on central bankers' minds

“Stagflation” is an ugly word for an ugly situation – the unpleasant combination of economic stagnation and inflation.

The Guardian - UK

Small and medium-sized firms struggling with ‘a hat-trick of hurt’

Rising fuel costs, higher wages and the surging price of imported goods and raw materials are forcing a ‘change of behaviour’

Bangkok Post

A sector with an agenda

The 2022 meetings of the Apec Business Advisory Council (Abac), which highlights the bio-, circular and green (BCG) economic model, are prompting Thailand to gear up for advanced technologies and environmentally friendly businesses.

The Hindu

Amendment to Flag Code has khadi activists upset

Khadi Sanghas, activists write to PM and HM on the move to allow non-khadi material for national flag

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Caixin Global

China Green Bulletin: China’s Energy Intensity Dropped 3.8% in 2021

BIS to launch Asia green bond fund for central banks, leading lenders disclose details of emission reduction loans

The Hindu

BIS raids transformer maker at Aluva

KOCHI

The Hindu

BIS scales up regulation of gold hallmarking

On an average, 150 market samples are taken from jewellers for quality checks

The Hindu

Toy shops raided by BIS

A search and seizure raid was conducted by Bureau of Indian Standards (BIS) at Toy Kingdom and Just For U outlets at City Center Mall in Banjara Hills and at Hamleys in PVR Next Galleria Mall, Punjagu

The Hindu

BIS to step up vigil on quality of toys

Manufacturers were given sufficient time to dispose old stock

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