Instant payments allow credit transfers to be completed within 10 seconds of making a payment, instead of waiting days for the transaction to finalize. They have been in use in Europe since 2017, and in the US since last year.

In Europe, the use of instant payments has grown from 5.2% of all credit transfers in October 2019 to 17.8% in February this year, according to data from the European Central Bank.

Around 60 financial institutions are capable of receiving and processing instant payments, covering more than 95% of Swiss retail payment transactions, according to the Swiss National Bank (SNB), which launched its scheme with financial systems provider SIX.

In the coming months, other banks are expected to announce similar services, SNB said, with all financial institutions in Switzerland expected to be included by the end of 2026.

Despite the rise of mobile payment apps, the Swiss remain attached to physical cash, which remains the most widely accepted payment method by companies with physical retail locations.

“This market launch represents another important milestone and reflects the collective commitment of stakeholders towards a cashless payment future in Switzerland,” SNB stated.

Photo: Swiss National Bank/snb.ch

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Four leading scientific organizations have called on the government to include a series of “core experiences” in the curriculum for children aged 3 to 11, alongside sledding, digging soil, visiting garden centers, recycling, and playing musical instruments.

The Royal Society of Chemistry, the Institute of Physics, the Royal Society of Biology, and the Association for Science Education have published recommendations for reforming the primary school curriculum in an effort to reduce inequalities in the education of science, technology, engineering, and mathematics.

“Children with limited firsthand experiences are undeniably at a disadvantage. This is fundamentally an issue of fairness, and providing rich essential experiences for children, particularly in the early and lower years of primary school, will help address this issue to some extent. Concrete experiences form the foundation from which children can draw evidence for their ideas, preparing them for the more abstract learning they will encounter in secondary school,” the report states.

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The protocol was signed in Belgrade by Serbia’s Foreign Minister Marko Đurić and the Minister of Foreign Affairs, International Business, Trade, and Energy of the Commonwealth of Dominica, Vince Henderson, who is on an official visit to Serbia.

On this occasion, Henderson noted that the friendship between the two countries dates back to the time of the Non-Aligned Movement when Serbia supported Caribbean states in their struggle for independence.

He recalled that Serbia and Dominica established diplomatic relations in 2010, and expressed gratitude to Serbia for extending a hand of friendship to students from his country who are studying in Belgrade.

Stressing that the relations between the two countries are based on mutual respect, the minister emphasized that Dominica firmly stands with Serbia in supporting its territorial integrity and sovereignty.

Henderson underscored that Dominica will continue to strongly support Serbia at the multilateral level, particularly within the United Nations, and noted that the two countries will continue to deepen their cooperation in the fields of healthcare, agriculture, and education.

The Foreign Minister of Dominica also mentioned that his country supported Serbia’s bid for the EXPO 2027 exhibition and looks forward to participating in this significant event.

Photo: mfa.gov.rs/Zoran Žestić

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On Friday, the price of gold reached over $2,500 per ounce, setting a record, and with the average gold bar weighing 400 ounces, its value now stands at a million dollars.

Gold prices have increased by more than 20% since the beginning of the year, as central banks, led by China, are buying gold to reduce their reliance on U.S. dollars.

Central banks and investors view gold as a long-term, reliable store of value during times of economic turmoil. This is because when interest rates fall, gold prices tend to rise, making bars more attractive than bonds.

Investors also consider gold a hedge against inflation, as gold bars retain their value even when many prices are rising.

The post Gold Bars Worth a Million Dollars for the First Time in History appeared first on CorD Magazine.

Her appointment follows a parliamentary vote just two days earlier, after the Constitutional Court suspended former Prime Minister Srettha Thavisin.

Paetongtarn is the third member of the Shinawatra family to hold the prime ministerial office, following her father, a billionaire, and her aunt Yingluck Shinawatra. Both were ousted from power and forced into exile after military coups, although Thaksin returned to Thailand last year after the Pheu Thai party formed the government.

The new prime minister received her appointment letter during a ceremony at the party headquarters in Bangkok, attended by senior members of the ruling coalition and her father, who, despite holding no formal position, is widely regarded as the party’s leader.

At 38, Paetongtarn, also known by her nickname “Ung Ing,” steps into the role with significant political heritage and expectations.

Photo: พรรคเพื่อไทย -Pheu Thai Party

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With a monumental 151,000 entries, the new Duden remains comprehensive, incorporating a wide range of updates, particularly from the fields of warfare and culinary trends. Among the new additions are terms like “Balkonkraftwerk” (solar panel on a balcony), “Deutschlandticket” (a nationwide discounted travel pass), and “Ukrainekrieg” (war in Ukraine).

“Duden mirrors the shifts in society. These new phrases highlight significant developments over the past three to four years,” explained the editor-in-chief of the 29th edition, released after a four-year hiatus.

The printed version of this edition sets a new record, further solidifying Duden’s status as a linguistic barometer of the times.

The post Germany’s Duden Dictionary Expands with 3,000 New Words Reflecting Modern Times appeared first on CorD Magazine.

At the same auction, other movie memorabilia were also sold, including props from *Star Wars*, *Harry Potter*, and *James Bond*.

Indiana Jones’ screen and photo matched fedora from Indiana Jones and the Temple of Doom has SOLD for: $630,000 (incl. BP)

Fortune and Glory for the winning bidder! pic.twitter.com/St2Z9x9bZO

— Propstore (@propstore_com) August 15, 2024

The auction house announced that the hat was also used during additional photography in visual effects studios owned by producer George Lucas.

This hat fetched double the price of another hat worn by Ford as Indiana Jones, which was sold at auction in 2021 for $300,000.

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The law is designed to restore ecosystems across the EU, improve food security, and help meet global biodiversity commitments under the Kunming-Montreal framework.

The law mandates that EU member states introduce restoration measures on at least 20% of the EU’s land and marine areas by 2030, with a target to extend these efforts to all degraded ecosystems by 2050. Key measures include enhancing urban green spaces, restoring pollinator populations, and improving biodiversity in agricultural and forested areas.

Member states are required to develop national restoration plans, detailing specific restoration actions, timelines, and funding sources. These plans must be submitted to the European Commission within two years, with final versions due six months after receiving any feedback. The European Environment Agency will monitor progress, while the Commission will support member states in achieving their goals.

The law also allows for the mobilization of necessary financial resources from both public and private sectors, including EU funds, to ensure successful implementation and long-term sustainability of these restoration efforts.

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Two-thirds (67%) of these imports consisted of dried coconut (70,330 tons), while the remaining one-third was made up of fresh coconut.

Coconut imports from non-EU countries primarily came from five countries, accounting for 86% of total imports. The Philippines was by far the largest supplier, providing 40% of the EU’s total coconut imports. It was followed by Indonesia (17%), Ivory Coast (14%), Sri Lanka (8%), and Vietnam (8%).

The Netherlands stood out as the largest importer of coconuts among EU countries in 2023, importing nearly half (47%) of all coconuts from non-EU countries. Germany was the second-largest importer (15%), followed by Spain (10%), France (7%), and Italy (4%).

These five EU countries together imported almost three-quarters (83%) of the total coconuts imported into the EU.

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Last year, Germany paid €17.4 billion more into the EU budget than it received, maintaining its status as the Union’s largest financier, though this figure was slightly down from the €19.7 billion difference recorded the previous year.

France ranked second, contributing nearly €9 billion more than it drew from the EU budget, followed by Italy, which contributed around €4.5 billion more.

Poland was the largest net recipient in 2023, as it was the year before, receiving €8.2 billion. It was followed by Romania with €6 billion and Hungary with €4.6 billion.

When looking at net payments per capita, the estimate shows that Ireland is in the lead with €236.

The EU budget in 2023 amounted to €173.1 billion, of which €143.4 billion was allocated to member states.

As the largest net financier of the Union, Germany provides almost a quarter of the funds. At the same time, the German government emphasizes that Germany also benefits more from the EU internal market than any other member state.

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The new facility, designed to handle up to 100 million passengers annually, will solidify Ethiopia’s position as a leading hub for global air travel.

Ethiopian Airlines, already Africa’s largest carrier, has signed a memorandum of understanding with Dar, a Dubai-based consultancy firm, to develop the design for the expansive airport, which will feature four runways. The airport is to be built in Bishoftu, approximately 40 kilometers southeast of the capital, Addis Ababa, and will cover an area of 35 square kilometers.

Mesfin Tasew, the airline’s CEO, highlighted that the first phase of the project will include constructing facilities capable of accommodating 60 million passengers annually. Upon completion of the second phase, the airport’s capacity will exceed 100 million passengers per year, positioning it as a crucial gateway for international travel.

Ethiopian Airlines, which reported a revenue of $7 billion for the 2023/24 financial year, transported 17.1 million passengers, underscoring its role as a key player in the global aviation industry. The existing Bole International Airport in Addis Ababa, currently the airline’s main hub, has a maximum capacity of 25 million passengers annually, making the new development a monumental leap forward for the nation’s aviation infrastructure.

This ambitious project reflects Ethiopia’s growing economic influence and its strategic ambition to become a central hub for air travel in Africa and beyond. As construction begins, the world will be watching closely to see how this ambitious endeavor reshapes the aviation landscape on the continent.

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The American athletes secured a total of 126 medals, with 40 golds, 44 silvers, and 42 bronzes, putting them ahead of all other nations.

China closely followed in second place, also with 40 gold medals but fewer silvers (27) and bronzes (24). Japan took the third spot, winning 20 golds, 12 silvers, and 13 bronzes. Australia and France completed the top five, with the Australians claiming 18 golds, 19 silvers, and 16 bronzes, and the host nation France earning 16 golds, 26 silvers, and 22 bronzes.

Serbia proudly finished 27th, bringing home a total of five medals, including three golds. The country celebrated victories from its water polo team, tennis legend Novak Djokovic, and the sharpshooting pair Zorana Arunović and Damir Mikec. Additionally, Aleksandra Perišić earned a silver in taekwondo, while the Serbian basketball team secured a bronze medal.

In the region, Croatia finished 30th with two golds, two silvers, and three bronzes, while Slovenia ended in 34th place, winning two golds and one silver. 

The Paris Games will be remembered for the athletes’ remarkable achievements and the enduring spirit of competition, as nations across the globe celebrate their sporting heroes.

Photo: facebook/Paris2024

The post United States Leads Paris Olympics With Number of Gold Medals Won appeared first on CorD Magazine.

The mineral is similar to newgrablenovite, which was only identified a few years ago in basalt rock from Russia’s Kamchatka Peninsula. Both the lunar and terrestrial versions have the chemical formula (NH4)MgCl3·6H2O and similar crystal structures.

Since newgrablenovite can be studied here on Earth, the discovery of an almost identical mineral on the Moon can provide scientists with clues about where lunar water is hidden and how it got there, as well as insights into the history of lunar H2O.

The origin, presence, and distribution of water on the Moon remain a mystery. Scientists are eager to uncover this information because understanding where lunar moisture comes from and where it is currently located is a vital component of the Earth-Moon system’s history.

Moreover, knowing where water is located is crucial for future lunar exploration missions, as humans need water to survive.

Water has previously been found in older lunar samples, trapped in tiny glass beads formed when surface material melts. The detection of water signals in the light spectrum reflected from the Moon’s surface suggests there is much more to discover.

The discovery also points to a previously unknown source of water on the Moon—hydrated salts, which are much more stable than water ice.

This suggests that water could be accessible even in areas of the Moon that are frequently exposed to sunlight, reducing future reliance on water ice found deep within craters at the lunar poles.

The post Chinese Mission Discovers Significant Water-Rich Minerals on the Moon appeared first on CorD Magazine.

The favorable tax regime for wealthy new residents was introduced by a center-left government in 2017, aiming to attract big spenders to stimulate Italy’s sluggish economy. 

The scheme, which according to Economy Minister Giancarlo Giorgetti has resulted in 1,186 wealthy individuals relocating to Italy, has now come to an end as Italy opposes the idea of countries competing to offer fiscal advantages to the rich.

“As we stated in G20 and G7 meetings, we are against participating in competition with other countries to create tax havens for individuals or companies. A country like Italy, with limited fiscal space, can only lose in such competition,” Giorgetti said.

The doubling of the flat tax will apply only to newly arrived wealthy individuals and not those who have already relocated their tax residence to Italy.

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