DENVER, Nov. 18, 2024 (GLOBE NEWSWIRE) — SILEGX Exchange recently announced the further development of its diversified product ecosystem, showcasing its innovative prowess in the fintech sector. As a globally leading cryptocurrency trading platform, SILEGX offers a comprehensive ecosystem that combines innovation and competitiveness through a rich array of trading products and financial services. This announcement not only reflects the platform vision for driving the future of finance but also solidifies its significant position in the global cryptocurrency market.

SILEGX offerings encompass a wide range of areas, including spot trading, derivatives trading, financial products, and new token subscriptions. The spot trading service allows users to engage in the buying and selling of cryptocurrencies globally with speed and convenience, ensuring efficient execution of trades. In the derivatives trading arena, SILEGX introduces advanced risk management tools and high-performance trading engines to help users effectively manage risk amidst market volatility while maintaining flexibility in their investment strategies. These innovative products enhance the user trading experience and demonstrate the deep expertise of SILEGX in trading technology.

Beyond trading services, SILEGX has launched various financial products specifically designed for cryptocurrency investors to help users grow their digital assets. By integrating artificial intelligence technology and smart investment algorithms, the platform offers personalized investment portfolio recommendations, enabling users to easily gain returns in complex market environments. Additionally, the new token subscription service of SILEGX provides users with opportunities to participate in emerging cryptocurrency projects. By rigorously selecting quality token projects, the platform ensures a transparent and fair subscription process. This feature not only meets investor needs for diversified asset allocation but also injects fresh vitality into the market.

The competitiveness of SILEGX is further highlighted by its unique ecosystem. The platform not only focuses on trading services but has also established a comprehensive support network, including the SILEGX Academy, incubator projects, and digital wallet services. Through this series of innovations, SILEGX Exchange is redefining the standards of global cryptocurrency trading. Its diversified products and services cater to the broad needs of global users, providing an important reference for the development of future financial ecosystems. As the platform continues to expand its product lines and service offerings, SILEGX is reshaping the landscape of cryptocurrency trading, reinforcing its status as an industry leader.

Media Contact:
Company Name: SILEGX CRYPTO TECHNOLOGY CO.,LTD.
Company website: https://www.silegx.org
Contact Person: Maria
Email id: maria@silegx.org

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbe235fe-2be4-41dd-94b0-c8ed1d8115ca

(Reuters) – Australia’s corporate watchdog on Monday launched civil penalty proceedings against National Australia Bank, the country’s second-largest lender, for failing to respond to hundreds of financial hardship applications within the legally mandated time frame.

The Australian Securities and Investments Commission (ASIC) claims that NAB and its unit AFSH Nominees failed to meet the legal 21-day deadline for responding to 345 hardship applications over a five-year period from 2018 to 2023.

Under section 72 of the National Credit Code, if a consumer notifies their lender that they are or will be unable to meet their credit obligations, lenders must consider varying the customer’s credit contract and advise them of the decision within specified time frames.

“NAB and AFSH Nominees are now considering the detail of the proceedings brought by ASIC and will continue to cooperate fully with the regulator,” the Melbourne-headquartered lender said in a separate statement.

Among those affected by NAB’s delayed responses were individuals facing severe personal challenges, such as survivors of domestic abuse, those struggling with grave health issues, and people coping with unemployment or the closure of their businesses, ASIC said.

“Amidst rising cost of living pressures, we have seen an increased number of customers reach out to their lenders for relief, and we have seen first-hand the impact on lives and livelihoods when lenders fail to appropriately support customers experiencing financial hardship,” ASIC Chair Joe Longo said.

Earlier this year, ASIC conducted a comprehensive review of financial hardship practices among major lenders, including data collection, policy analysis, and case studies, culminating in a May 2024 report that exposed significant shortcomings in lenders’ approaches to identifying and supporting customers facing financial difficulties.

(Reporting by Roushni Nair in Bengaluru; Editing by Lisa Shumaker and Andrea Ricci)

Investors this year have grown increasingly confident the US economy will achieve a “soft landing.”

But the election of Donald Trump as the nation’s next president has complicated the outlook.

And some economists now think it’s likely the US could face another inflation resurgence if Trump follows through with his key campaign promises.

“We are in the soft landing,” Nobel prize-winning economist and Columbia University professor Joseph Stiglitz said at Yahoo Finance’s annual Invest conference on Tuesday. “But that ends Jan. 20.”

Trump and his proposed policies have been viewed as potentially more inflationary due to the president-elect’s campaign promises of high tariffs on imported goods, tax cuts for corporations, and curbs on immigration. Those policies could also pressure an already bloated federal deficit, further complicating the Federal Reserve’s path forward for interest rates.

“The biggest risk is a large across-the-board tariff, which would likely hit growth hard,” Jan Hatzius, chief economist at Goldman Sachs, wrote in a note to clients on Thursday.

Jennifer McKeown, chief global economist at Capital Economics, also acknowledged in a note this week there are “upside risks” to inflation “stemming partly from Trump’s proposed tariff and immigration policies.”

And investors have taken notice.

On Wednesday, the latest Global Fund Manager Survey from Bank of America highlighted increased expectations of a “no landing” scenario, in which the economy continues to grow but inflation pressures persist, leading to a higher-for-longer interest rate policy from the central bank.

Tariffs have been one of the most talked-about promises of Trump’s campaign. The president-elect has pledged to impose blanket tariffs of at least 10% on all trading partners, including a 60% tariff on Chinese imports.

“It will be inflationary,” Stiglitz said. “And then you start thinking of the inflationary spiral. The prices go up. Workers will want more wages. And then you start thinking of what happens if others retaliate [with their own duties.]”

Minneapolis Fed president Neel Kashkari categorized a possible retaliation as a “tit-for-tat” trade war, which would keep inflation elevated over the long term.

“If inflation goes up, [Federal Reserve Chair Jerome Powell] is going to raise interest rates,” Stiglitz said.

“You combine the higher interest rates and the retaliation from other countries, you’re going to get a global slowdown. Then you have the worst of all possible worlds: inflation and stagnation, or slow growth.”

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Investors have dialed back rate cut expectations in preparation. Since the Fed’s first rate cut on Sept. 18, markets now expect three fewer rate cuts between now and the end of next year, per the CME’s FedWatch Tool.

But the US economy has remained resilient in the face of high interest rates. Retail sales once again topped estimates for the month of October, GDP remains strong, the unemployment rate continues to hover at around 4%, and inflation has moderated despite its bumpy path down to 2%.

Additionally, it remains unclear which policies will be a priority once Trump takes office or if he’ll fully commit to the promises he’s already made.

The only certainty is change.

In 2025, the GOP has not only secured the White House but also maintained control of the House of Representatives and flipped the Senate.

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“The Republican sweep in the elections is likely to bring sweeping policy changes,” Bank of America’s US economics team wrote in a client note on Friday.

“There are plausible scenarios in which growth could run above 3%, or the economy could enter a recession,” the team said. “Our base case is sanguine, but our conviction is low. As the policy agenda becomes clearer next year, we will be nimble in adjusting our forecasts as needed.”

Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.

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