2019 was another epic year for us at Remitbee Online Money Transfer and we sure will be celebrating through the various holidays and events in 2020 – so why not celebrate with us? Here are some of the best festivals going on in Ontario over the next 12 months!
The Coronavirus—also known as COVID-19—has rocked the world over the past few weeks. This strain of the infectious disease which has originated in China is spreading rapidly due to many unknowns. Doctors are struggling to figure out the incubation period of the disease which is how it was able to spread so quickly.
The rapid spread of COVID-19 has created a lot of change, fear and uncertainty over the last few weeks, and we hope all of you and your loved ones are healthy and safe. Our Remitbee team wanted to reach out during this difficult time and assure you that our customers are our top priority next to helping to slow the spread of the pandemic.
The coronavirus is causing worldwide panic, and financial hardship is on the rise. The global economy is beginning to suffer as businesses close their doors and put millions of people out of work. Without their regular paychecks coming in, people will not have money to spend. This is already affecting many economies, and governments are beginning to step in. Currencies are fluctuating as a result.
The world is practicing social distancing, and most people are turning to online services for almost every aspect of their lives. To make things a little bit easier, we’ve created a list of the best online services for entertainment, money transfer, food delivery and more!
Financial technology, or Fintech, covers innovations the crossover between the financial industry and technology. The term was first coined in the 1990s when e-commerce and the Internet really began to take off and it has continued to evolve ever since. It incorporates everything from trading stocks to crowdfunding platforms like Kickstarter and GoFundMe to Blockchain to Bitcoin and ranges from things that are currently in use to things that are just being explored.
As if the world is not experiencing enough turmoil and distress due to the coronavirus, scammers and opportunists are taking this chance to exploit the vulnerable to make a dollar or two. Canadians know that there is assistance available for them, but some people who are a little less tech-savvy have been targeted by dishonest people who are charging them for access to the money that they’re eligible for.
Nava Elmi Immigration Law firm has helped students, employees, entrepreneurs, and investors, move to Canada for over 7 years. Born and raised in Paris, France, she immigrated to Canada first as a student, then a worker, and finally a permanent resident and a citizen. She is a member of the Law Society of Upper Canada. Her firm services individuals from all over the world, who want to immigrate anywhere in Canada.
In order to control the spread of the coronavirus, many countries have closed their borders and restricted travel. Canada and India are two countries that have imposed rules of this nature. Since there is a large population of Indians residing in Canada, this has put many people in a very tough position. This has especially affected those who need to go back and forth to visit family or to take care of personal matters.
Canada is one of the many countries that is tightening its borders to protect its nation as best as possible from the coronavirus. Heavy travel restrictions have been placed to limit the spread of this airborne disease. Fortunately, some entry to Canada is allowed, so there is no need to fret if you have to cross the border for a valid reason. In this post, we’re going to discuss who can enter Canada right now, 14-day quarantine rules, penalties for breaking these rules, symptoms to look for, and what to do if you’re experiencing COVID-19 symptoms.
Here at Remitbee, we are constantly working to make transferring money abroad as easy and affordable as possible. Part of doing this means providing different options for you to transfer your funds since certain methods are faster or less expensive depending on where you are transferring the money and the amount you are sending.
Is the airline scene in India set for a huge churning? If one were to go by their liquidity position, a churn appears inevitable. Fitch Ratings, a leading rating agency, is convinced that change is just around the corner.
Extreme risk-averse will be "self-defeating" for banks, said Reserve Bank of India Governor Shaktikanta Das. The lenders would not be able to “win their bread" if they did not carry out their basic task, he said addressing a webinar organized by a leading financial daily on Thursday.
Federal Reserve Chair Jerome Powell appears to have signaled a subtle shift in the policy of the U.S. central bank. In a speech on Thursday, Mr. Powell indicated that the Fed might not be averse to letting inflation rise if it could help generate more jobs.
In what is considered as a significant initiative, the Indian government led by Narendra Modi has moved to create a social security net for the poor. The initiative, announced on Friday, involves the provision of life and accident insurance cover to the poor.
The Canadian dollar (CAD) was trading lower at 56.1216 against the Indian rupee at 12.39 p.m. GMT, down from 56.2022 on Thursday. Again, the CAD was down against the British pound. It was trading at 0.5755 at 12.48 p.m. against the British currency, down from 0.5772 on Thursday.
India has reported its steepest quarterly decline in GDP (gross domestic product). This comes at a time when the country is witnessing a steady escalation in cases of coronavirus. GDP contracted 23.9% in the June quarter when compared to the same quarter a year ago.
Amidst this, all-round action, the headline seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers’ Index rose to 52.0 in August from 46.0 in July, above the 50-level separating growth from contraction for the first time since March.
The Canadian dollar (CAD) was trading higher against the American currency and the Japanese yen. However, it was trading lower against currencies such as the Indian rupee, the British pound, and the Chinese Yuan. In fact, the U.S. dollar was trading lower against the Indian rupee as well.
Urban unemployment has risen to 9.83% in August from 9.15% in July, according to monthly unemployment data released on Tuesday by the Centre for Monitoring Indian Economy (CMIE). Likewise, the rural unemployment rate, too, is up to 7.65% in August from 6.66% in July.
The Canadian dollar (CAD) has been trading higher against most major countries. However, the Canadian currency was quoting lower against the American dollar. The CAD is up against the Indian rupee. At 4.12 p.m. (GMT), it was trading at 56.0866 against the rupee, up from the previous close of 55.9375.
The Indian bourses were flat most part of the day. But, they swung into action in the slog hour. They managed to end Wednesday with decent gains for the second day in a row. The benchmark Sensex rose 185 points to end at 39,086. The BSE Midcap outperformed the broader market, gaining over 1.3%.
The Nikkei /IHS Markit Services Purchasing Managers’ Index (PMI) rose sharply from 34.2 in July to 41.8 in August, the highest since March, before the escalation of the global COVID-19 pandemic. Since the latest reading is below the 50-mark, it reflects a continued decline in business activity.
The Canadian dollar is trading lower against most major currencies. However, it was up against the British pound. CAD was quoting at 0.7616 against the U.S. dollar at 4.09 p.m. GMT. The Canadian dollar was trading at 55.9226 against the Indian rupee at 4.14 p.m.
The Indian bourses saw a crash on Friday. The slump was triggered by the global sell-off overnight. Indeed, it was a Freak Friday for the domestic stock markets. The benchmark indices crashed around 1.6%. Sensex was down 633 points or 1.6% lower to 38.357 points. Maruti Suzuki was the lone gainer on the index. The rest ended in the red.
With the continuing stand-off between the Modi government at the Centre and the Opposition-ruled States in the wake of a huge shortfall in collection of GST (goods and services tax), the benchmark 10-year bond yield has moved up to over 6% on Tuesday. The yield has now risen to 6.06%.
It is a free fall on Wall Street. The Dow Jones shed over 500 points, the S&P 500 dropped more than 80 points and the Nasdaq plunged near 4% early Tuesday. The tech sell-off continues on valuation concerns. Tesla shares lost near 15% after the company was not included in the S&P 500 index.
It has been a mixed day for markets in India on Wednesday. While the equity markets slipped into the red zone, the benchmark 10-year Government of India bond yields moved back to the sub-6% The Indian rupee snapped its two-day losing streak against the American dollar.
The Canadian dollar was trading higher at 0.759 against the American currency, moving away from a three-week low reached in the previous session. The CAD firmed up after the country’s central bank left its benchmark interest rate unchanged at the effective lower bound of 0.25%.
As widely expected, the Bank of Canada, on Wednesday, kept its benchmark interest rate steady at the effective lower bound of 0.25 per cent. It has also decided to continue its quantitative easing program. It will do asset purchases of at least the Canadian dollar 5 billion per week of government bonds.
The Canadian dollar was trading lower at 1.31 against the American currency at 7.04 p.m. GMT. The weakening CAD follows a drop in oil prices amid a surprise build in the U.S. crude oil inventories and mounting concerns over fuel demand recovery.
The foreign exchange reserves of India rose by the US $ 582 million to scale a high of $ 542.013 billion in the week ended September 4, according to data released by the Reserve Bank of India on Friday. The week ended August 28 saw the reserves surge by $ 3.883 billion to $ 541.431 billion.
The Indian stock markets began the first day of the week in an upbeat mood but lost their momentum mid-way to end in red on a day when the rupee managed to stay stronger against the American currency and the yield on the 10-year Government bonds remained above 6%.
Coronavirus has certainly changed the global face. One is still trying hard to fathom the post-COVID world. What does the virus portent for Canadian universities? If one were to buy a new report published by Moody's Investors Service, the Canadian higher education sector faces a series of key credit challenges as the new academic year begins.
The Indian bourses came back strongly to post significant gains even as the rupee lost its way to end lower against the American currency on Tuesday. On the bond front, the yield on the benchmark 10-year Government of India securities remained above the 6% level.
In its Asian Development Outlook (ADO) 2020 Update, ADB said that the growth outlook was highly vulnerable to either a prolonged outbreak of the pandemic or a resurgence of cases. Nevertheless, it has forecast a strong recovery for the economy in FY2021-22.
India’s trade deficit in goods stood at US$6.77 billion in August 2020, according to data released by the Union Government on Tuesday. The trade deficit in July 2020 was $4.8 billion. In August 2019, the trade deficit stood at $13.86 billion.
The Bank of England said that it had briefed its policy-setters (Monetary Policy Committee) on how they could consider a negative interest rate (below zero) should the outlook for inflation and output warrant it at some point during the current period of low equilibrium rates.
The Covid-19 has put many a government in a huge spot of bother. The lock-down in its wake has virtually brought the economic activity to a standstill. The economies across the globe have contracted drastically, and the governments and the central banks alike are struggling hard to arrest the quicksand-kind of a situation.
Even as Goldman Sachs predicted an oil deficit of three million barrels a day by the fourth quarter, the OPEC (Oil Producing and Exporting Countries) and its allies have warned recalcitrant members of action should they make any compromise on the production cut deal.
On a day when most bourses in Asia ended with gains, the Indian equity markets surrendered their early gains to end in red on Friday, the last trading day of the week. The Indian currency, however, gained 21 paise against the American currency. The benchmark 10-year Indian government bonds still stayed above the 6% level.
This indeed is refreshing news for Canada. Coming as it does when the Coronavirus has cast a widespread gloom across the globe, this one gives a sense of encouragement. Retail sales in Canada rose 0.6 per cent over a month earlier in July 2020 to $52.9 billion, following a downwardly revised record 22.7 per cent gain in the previous month but below market expectations of a 1 per cent increase.
Whether you have already made the move or still planning to, here are the top in-demand jobs for Filipinos based on the accredited manpower agencies which have numerous Philippine Overseas Employment Administration (POEA) approved job orders bound for Canada in 2020
If the escalating cases of Covid-19 are making life miserable for common citizens across the globe, the indefiniteness of its course is rendering it difficult for economies – big and the small alike - to do any informed course-correction.
Are U.S. Treasury securities losing attraction for nations? If one were to go by the latest data, there is a deceleration in the interest of the U.S. treasury securities. The July treasury holdings of China, Japan, Canada, and Germany have been just around their holding levels in March 2020.
Nallur Kandaswamy temple festival is a twenty-five days long commemoration, recognized as Sri Lanka’s longest holy festival, in reverence of the God Murugan Temple, Jaffna, Sri Lanka in August or September depending on the Tamil Calendar. The festival is located at Nallur Kandaswamy Kovil
We also currently live at a time where even young ones have to adjust in their way of learning. This is the current dilemma in the Philippines and most of the world. Most schools were about to end in March when strict lockdowns were imposed because of Covid-19.
COVID-19 has turned the world upside down. Almost every aspect of our lives has been changed from how we work, what we wear, or how we socialize. In the next episode of Remitbee Expert, we speak with Ontario Health’s, Clinical Epidemiologist, Dr. Nevis about COVID - 19 and the effect on public health and society.
1 CAD is trading at 55.90 against the Indian rupee today, staying relatively stable compared to last week and forecasting to increase in the weeks to come. The stock inflow and asset sales in India has already seen an influx of billions, support stemming from a rare current account surplus according to Bloomberg.
With the global COVID-19 pandemic continuing to develop, September marks a transition for Canada. The country is moving from being in lockdown to living with COVID-19, and one of the first steps is switching over from the Canada Emergency Response Benefit (CERB) to the Canada Recovery Benefit (CRB).
After recent sell-offs, the Canadian dollar’s exchange rate remains at 0.76 against the US dollar this morning. CAD continues to perform well as the Canadian employment rate on Friday was higher than anticipated.
Prime Minister Justin Trudeau announced a relaxation of the closure in June that allowed immediate family members of citizens or permanent residents to be able to enter the county. The border exceptions included parents, dependent children, or spouses and were heavily regulated. Visiting family members had to stay for at least 15 days and were required to quarantine for 14 days.
Reaching a gross international reserve of $98 billion in August 2020, the Philippines goes into the year’s final quarter more stable than the rest of Southeast Asia. Despite COVID-19 restrictions, the Philippine peso has impressively increased throughout the year; by September 2020 the currency jumped 4.3% against the US dollar.
The Canadian dollar is down 0.03 on the index, sitting at 0.76 against the American dollar. With an upward trend since mid-September, CAD is expected to increase by the month’s end due to the job market.
The pandemic has led to an unsuccessful year for the Indian economy. Despite the recent stimulus projections, high unemployment rates, and even higher COVID numbers have left the a country with plummeting numbers across the market.
The Canadian dollar continues to stabilize by the end of the week trading against the Euro at 0.65. According to Wall Street bank, J.P Morgan CAD has expected struggle going into October due to the current account deficit in Canada’s terms of trade.
There is now expected to be 720,000 employment positions left to recover, an estimated 76% of the 3 million jobs lost across Canada has been recovered since the beginning of the pandemic in March. This is comparatively better than the 56% recovery rate in the United States.
The Canadian dollar’s exchange rate is 55.65 against INR with a long-term increase expected as the month ends. CAD sits at 0.76 against USD, starting this week off with a hopeful and stable forecast for the Canadian dollar.
1 CAD is trading against the Philippine Peso at 36.83 this week and the rate is forecasted to decrease slightly going into next. The exchange rate is expected to drop from 36.83 to 34.98 with a YTD return of -5.12% despite the fact that PHP has been stagnating over the last year.
1 CAD is still trading against USD at a rate of 0.76 as the week progresses, which has increased by 10% since March when the exchange rate was 0.69. The US dollar is losing ground against a broad basket of currencies during this presidential election.
By adding different languages to our site, we hope to be able to reach and help a larger group of people in the world. We will be continuously adding new language options to make sending money abroad much easier for everyone.
1 CAD is trading against GBP at 0.58 today, a long-term increase of sterling is expected as next month’s Brexit deal is still a possibility. At the highest currency rate in over six weeks, Bloomberg reported that “trade talks between the UK and European Union are on the verge of resuming” as negotiators are hoping to settle on a deal by mid-November.
Since the COVID-19 pandemic forced everyone into quarantine this March, businesses have shifted to online platforms, creating a new environment for virtual meetings across the globe. This month the video communications company Zoom began supporting the Indian Rupee, allowing the country’s users to purchase plans and add-ons with their local currency.
English and French are both Canada’s official languages. Being able to speak at least one of them makes settling in Canada a much easier process. Luckily, the Canadian government works with not-for-profits to provide newcomers with free English classes for people of all English levels.
Before the Brexit transition period ends, chief negotiators from the United Kingdom and European Union are working towards a trade deal that will finally end their five-year crisis. As markets stand-by for more information in the coming weeks, there has been a limited economic movement from GBP.
Throughout the COVID-19 quarantine period, online shopping has become the new normal for most households around the globe. From groceries to luxury goods the internet has allowed companies to grow at a rapid speed to keep up with high consumer demands.
The Canadian Dollar is trading at 12.34 against the South African Rand this morning. With a long term increase expected going into FY21, investors should keep an eye on these Forex (Foreign Exchange) pairs as good return options are available. Comparatively, 1 USD has an exchange rate of 16.23 against 1 ZAR, with strong bearish trends as November approaches.
This morning the foreign ministry reported that US companies such as Lockheed Martin (LMT), Boeing’s Defense division (BA), and Raytheon Technologies (RTN) are expected to be involved in selling weapons to Taiwan which is causing heightened tension between China and the United States.
The Canadian Dollar has an exchange rate of 5.10 against the Chinese Yuan, with a 0.26% change today. A long-term increase is expected from the pair by 2025 but for the remainder of FY21 regulators predict some volatility in CNY.