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Kapital News Highlight - July 30

Monday, July 30, 2018

A weekly highlight for your updated and forward-thinking financial insight : 

  • Cryptocurrency faces winding road in the Muslim world. The recent halal certification of a blockchain platform Stellar brings a significant different to the Islamic world's embrace of cryptocurrencies and blockchain technology. However, the debate over other cryptocurrencies, including bitcoin, still continues to go on. According to M. Kabir Hassan, a professor of finance at the University of New Orleans, blockchain and cryptocurrency can be categorised as halal when it meets the Islamic principles (shariah-compliant), such as tangible, not speculative, and have pure economic value. (Thirtyk)


  • The talks between President Trump and European Commission President Jean-Claude Juncker about the trade seem to make a progress. However, there are still no talks about the trade agreement between the US and China. Within the next few days, the US will release a final list of another $16 billions of Chinese goods that will subject to a 25 percent tariff. Likewise, China is expected to do the same to the US goods. (CNBC)


  • At the G20 Summit in Osaka next year, the Japanese Minister of Finance Taro Aso said that the meeting should take a coordinated action to address common threats to global growth. The G20 Summit next year is also expected to focus on promoting investment in high-quality infrastructure to ensure economic growth. In the last meeting of G20 finance ministers and central bankers in Buenos Aires, they failed to elaborate effective steps to resist protectionism which highlighted the limitations of the G20 to overcome common threats to the global economy. (Japan Times)


  • Indonesia, US to devise trade roadmap. Indonesia and the US will devise a trade roadmap between the two countries after the meeting of the Indonesian Trade Minister Enggartiasto Lukita and the US Secretary of Commerce Wilbur Ross. The roadmap will include the private sector from Indonesia and the US and is expected to increase the value of trade between the two countries. Besides the roadmap, the Indonesian government also asked Wilbur about the review of generalized system of preferences (GSP) and asked to exempt Indonesia's steel and aluminium products from import tariffs.(The Jakarta Post)

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