Central Bank Digital Currencies (CBDC) are official means of payment issued by the central banks of a country, which do not exist physically but are available in digital form. Recently, technological advances have led to a significant transformation in the financial system, with the spread of cryptocurrencies weakening the state's control, and the introduction of digital central bank currencies is a way to preserve the stability of the financial system.
E-CNY, or digital yuan, is a centralised, cash-like digital currency used primarily for retail payments in China. The People's Bank of China (PBOC), the central bank, has conducted large-scale pilot programmes for the digital yuan in several cities in recent years. The introduction of the digital yuan serves two distinct but related purposes.
Amid increasing global economic uncertainty, the New Development Bank (NDB) - under new leadership - is set to further unleash its potential to support emerging economies and developing countries, and renew its commitment to sustainable development, China Daily reports.
The programs of the National Transformation Program 2022 have contributed in planting over 12 million trees within 5 years through the National Center for Vegetation Development and Combating Desertification (NCVC), the Saudi Gazette writes.
In the face of challenges threatening the water resources of the Mekong and the livelihoods of the people relying on it, Minister of Natural Resources and Environment Bounkham Vorachit has called for innovation and cooperation to respond to the ongoing problems.