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- US imposes Iran - related sanctions on Iraq Development Bank
The US Treasury sanctioned the Iraq Development Bank (IDB) on Thursday over its ties to Iran, as part of a round that also hit 10 entities and 16 people under the “Economic Outcast” programme. The Treasury said the IDB abused a now-dissolved dollar wire auction and maintains links to Iranian government entities and militia groups in Iraq. Iraq had already banned the IDB and seven other local commercial banks from US dollar transactions in 2024. The move came as Iraqi Prime Minister Ali Al Zaidi, who has sought to work with US authorities on banking reform, pushed his pledged deadline for disarming militia groups from September 30 to June 2027.
- Deutsche Bank to Launch Bitcoin and Ethereum Custody Service
Deutsche Bank, Germany's largest bank, plans to launch a cryptocurrency custody service within weeks, initially supporting Bitcoin and Ethereum. According to co-head of corporate banking Gerald Podobnik, the service will mainly serve institutional investors and corporate clients, starting in Germany before expanding into major Asian markets by 2027. The bank previously identified stablecoins such as USD Coin and Euro Coin as planned supported assets, and fiat-to-stablecoin conversion will follow after the initial rollout. Deutsche Bank is also advancing tokenized bank deposits and digital bond issuance, positioning blockchain as a complement to existing banking systems rather than a replacement. The moves support its corporate banking strategy, which targets an 8% compound annual revenue increase through 2028.
- Central bank mulls forex intervention after Taiwan dollar losses
Taiwan's central bank said it will step in to stabilize the foreign exchange market if the Taiwan dollar stays volatile after its sharp losses against the U.S. dollar last week. The currency fell NT$0.463 to close at NT$32.338 on Friday, its steepest weekly drop in more than a year. The Taiex fell 4.47% to 47,111.26 points, dragged by large-cap tech stocks amid concerns over U.S. inflation fueled by high oil prices and AI stock valuations. Foreign investors net sold US$19.40 billion in local shares and pulled US$17.96 billion out of Taiwan during the week. The bank said the currency remains stable over the longer term and will keep monitoring markets, intervening when necessary.
- Central bank mulls forex intervention after Taiwan dollar losses
Taiwan's central bank said it would step in to stabilize the foreign exchange market if the Taiwan dollar stays volatile after its sharp fall against the U.S. dollar last week. The currency fell NT$0.463 to close at NT$32.338 on Friday, its steepest weekly decline in more than a year. The Taiex dropped 2,202.18 points, or 4.47%, to 47,111.26, dragged down by large-cap tech stocks amid concerns about U.S. inflation, a more hawkish Federal Reserve and high valuations of AI stocks. Foreign investors net sold US$19.40 billion in local shares and pulled US$17.96 billion from Taiwan during the week, while the central bank noted the Taiex fell 5.4% versus a 15.7% drop in the Philadelphia Semiconductor Index and said the currency remained stable over the longer term.
- Vietnam central bank urges rate cuts by commercial banks
The State Bank of Vietnam has instructed commercial banks to cut deposit interest rates by at least 0.5 percentage points, according to Dan Tri. Banks must lower listed annual rates for deposits of six months or longer by at least 0.5 points and cut lending rates for production, business and priority sectors by 1.5 to 2 points. They are also directed to steer credit toward science and technology, digital transformation, green development and education, while tightening lending in high-risk areas, particularly real estate. Banks must also mobilize resources, cut operating costs and share profits to help bring down overall interest rates.
- Vietnam central bank urges rate cuts by commercial banks - Xinhua
The State Bank of Vietnam has directed commercial banks to cut deposit rates by at least 0.5 percentage points for terms of six months or longer, and to lower lending rates for production, business and priority sectors by 1.5 to 2 percentage points, according to a Dan Tri report. The central bank also asked lenders to direct credit toward key economic projects and priority sectors such as science and technology, digital transformation, green development and education, while tightening lending in high-risk areas, particularly real estate. Banks were further instructed to mobilize resources, cut operating costs, share profits and take coordinated steps to bring down overall interest rates.
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JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.
- Cerrado Gold Reports 21% Year-Over-Year Increase in Q3 2026 Production Results at Minera Don Nicolas
Cerrado Gold reported Q3 2026 production of 16,685 GEO at the Minera Don Nicolas (MDN) mine in Santa Cruz Province, Argentina, up 21% from 13,832 GEO in Q3 2025. Year-to-date output reached 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period. Heap leach output held steady at 9,649 GEO, while CIL output rose to 7,036 GEO as higher-grade Calandrias material, generally above 2.5 g/t gold, was routed to the Martinetas mill. Laboratory tests on selected material showed gold recoveries of up to 95%, versus about 60% expected from heap leaching, and the company now expects full-year 2026 production at the upper end of its 50,000 to 60,000 GEO guidance while targeting a new PEA by late Q1 2027.
- Is Visa Stock Still a Buy After Gaining 14% This Year?
Visa shares hit an all-time high of $401, up about 12% over the past two weeks from $359 at the end of September and up 14% year to date. Key catalysts include approval from the People's Bank of China to set up a bankcard clearing institution in China and the move of Visa Direct's stablecoin to commercial deployment on Oct. 15. Baird and BMO Capital both raised their price targets. Visa reports fiscal fourth-quarter earnings on Oct. 27 and has raised its dividend every year since 2009, last year by 14% to $0.67 per share. The author still considers the stock a buy ahead of earnings, citing a forward P/E of 24.
- Five things to watch in markets in the week ahead
Markets start the week with AI stocks under pressure after hotter-than-expected September inflation raised expectations of higher US rates and fed worries about debt-funded AI spending. Last week the Philadelphia semiconductor index fell 11.41% and the Nasdaq Composite lost 4.48%, with CoreWeave shedding about a quarter of its value and Oracle down 9.31%. Earnings are in focus, with SpaceX and Netflix reporting on Tuesday and Meta and Tesla on Wednesday after the close. Netflix reportedly plans to cut around 6% of its workforce, roughly 1,000 roles, its biggest reduction since 2022. SpaceX has also agreed to buy spectrum licenses from Grain Management for about $8 billion, a move into the wireless market.
- eMemory/PUFsecurity Showcases OCP S.A.F.E.-Approved PUFrt at OCP Global Summit, Strengthening AI Data Center Security with Caliptra
PUFsecurity, a subsidiary of eMemory Technology, was featured at Microsoft's Caliptra Workshop on Oct. 12, the opening day of the 2026 OCP Global Summit, which drew nearly 400 attendees. Its PUFrt received OCP S.A.F.E. Scope 3 approval after an independent assessment of its resistance to physical attacks such as fault injection and side-channel attacks, and is now listed on the OCP Marketplace. PUFrt provides the physical security foundation for Caliptra, an open-source hardware Root-of-Trust architecture, from key generation to chip mass-production testing. It has already been integrated into Caliptra products from ASPEED and security systems from several memory makers and networking chip vendors. The company says the milestone advances hardware security for cloud and AI infrastructure.
- Crypto vault deposits top $10 billion as lending risks draw regulatory scrutiny
Deposits into crypto lending vaults have risen from $4 billion at the start of last year to more than $10 billion, according to the Financial Times. Each vault is run by a 'curator' who selects lending strategies through smart contracts on DeFi platforms, sets risk limits and collects fees, with typical returns of 3% to 10% and riskier strategies reaching 20% or more. Risks include illiquid or hard-to-sell collateral, automatic liquidations, hacks and coding errors, while investors may focus on headline yields. Fintechs, digital asset treasury firms and hedge funds are among the main depositors, and Bitcoin lender Two Prime launched a vault on Pareto targeting 1.5% to 2% yields, with a minimum deposit of 5 WBTC and about $10 million of its own capital absorbing initial losses. U.S. and European regulators are examining whether existing rules should apply, and the SEC has questioned vaults that hold securities.
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