In the age of smartphones, international wire transfers belong in money museums. In more than 60 countries, including many developing nations, it has become incredibly easy to send funds in real time to someone else over the internet — knowing nothing more than their mobile phone number. However, 24/7 fast payment systems, a technology that’s starting to work pretty well ...

Sanofi is one of the world’s largest vaccine makers, with billions in reliable annual sales coming from the business. With its $3.2 billion purchase of Translate Bio Inc, the company is coopting a possible disruptor. Translate focuses on messenger RNA, the promising new approach behind the wildly successful Covid vaccines from Pfizer Inc-BioNTech SE and Moderna Inc. Sanofi first partnered ...

Mario Draghi scored big just as he appeared to be on the point of foundering. Six months after taking office, Italy’s prime minister (and former president of the European Central Bank) continues to beat the odds and deliver reforms that have eluded Italy for decades. For 30 years, Italian politicians failed in their efforts to repair the criminal and civil ...

Bloomberg China’s broadest Covid-19 outbreak since the beginning of the pandemic in late 2019 is hampering tourism and spending during the peak summer holiday, prompting analysts to review their economic growth projections as risks escalate. Authorities rushed to close tourist sites, call off cultural events and cancel flights, as the outbreak linked to the highly-infectious delta variant spread to nearly ...

Bloomberg The technological level of China’s exports increased through the trade war with the US, according to a new ranking, which predicts the Chinese economy will grow faster than India’s over the next decade. China ranked 16th globally when judged by the complexity of its exports in 2019, moving up three places ahead of countries including Ireland since the onset ...

Bloomberg India’s main services index signalled a contraction for a third straight month, boosting the case for monetary policy makers to keep interest rates unchanged at a record low to aid the economy. The IHS Markit India Services Index rose to 45.4 in July from 41.2 in June, but still below the 50 reading that indicates a contraction. That performance ...

Bloomberg Indonesia has reached a grim milestone as more than 100,000 people died from the coronavirus, becoming the second country in Asia to breach that threshold. After weeks of topping the world’s tally of daily Covid-19 deaths, Southeast Asia’s largest economy added 1,747 fatalities on Wednesday, according to data from the health ministry, bringing its total number to 100,636. Indonesia ...

Bloomberg The Afghan government is too weak to win a negotiated settlement without a new military strategy, the US envoy to the war-ravaged country said. “The situation is very concerning, and our expectation is that both the government and the Talibs would focus on a political settlement,” Zalmay Khalilzad, the US special representative for Afghanistan, said at the Aspen Security ...

Bloomberg Malaysia’s Prime Minister Muhyiddin Yassin said his government has the numbers needed for him to remain premier and there is no reason for him to offer to resign. His comments on Wednesday followed a meeting with the nation’s monarch and after the largest political party in the country’s ruling coalition retracted support for the embattled premier’s government. “Yet, I ...

Bloomberg An opposition leader who ripped up her passport to stop officials expelling her from Belarus went on trial on Wednesday as President Alexander Lukashenko steps up his campaign to crush dissent ahead of the first anniversary of disputed elections. Maria Kalesnikava, a flute player who became one of the public faces of the effort to defeat Lukashenko at last ...