Unchained Is Helping Users Secure 90,000 BTC And Counting in Self Custody
Unchained provides financial services tailored to Bitcoin holders, offering products like multsig vaults and guiding clients through the process of securing their Bitcoin. [ more ]
AWS' $13 billion India expansion shows why South Asia is next cloud hotspot
AWS' landmark investment to expand cloud infrastructure in India highlights a growing appetite among hyperscalers in this growing marketplace.The firm revealed this week that it will invest $12.7 billion in expanding data center infrastructure in the region in an apparent move to capitalize on recent growth in the India cloud space.
Nobl9 Adds Service Level Analyzer to SLO Management Platform
By: Mike Vizard on Nobl9 today added a free tool for analyzing service level objectives (SLOs) to its platform to enable DevOps team to more accurately set reliability goals.Brian Singer, chief product officer for Nobl9, said Service Level Analyzer collects metrics and observability data from more than 24 DevOps tools and platforms that can then be used to create an SLO via a single click.
Roland Smertnig Joins Zeotap as Senior Advisor & Shareholder, Bolstering Zeotap's Market Strategy in Global Banking Sector - ExchangeWire.com
Roland Smertnig joins Zeotap as senior advisor and shareholder, bringing 33 years of financial services experience and a focus on digital transformation in banking.
Roland's appointment signifies Zeotap's commitment to enhancing CDP offerings for banks, leveraging his expertise in cloud-based solutions and IT transformations. [ more ]
Samooha Wants To Create An 'Easy Button' For Data Clean Rooms
Did you ever wish you could talk to your clean room?Samooha is a data clean room provider startup co-founded and helmed by Drawbridge founder and former CEO Kamakshi Sivaramakrishnan.Last month, the company, which is backed by Snowflake Ventures, launched a conversational data collaboration widget on Slack and Microsoft Teams.
SAP moves to a composable commerce offering | MarTech
Global software giant SAP has announced a new Commerce Cloud composable offering, providing merchants new levels of flexibility and a range of choices between the complete Commerce Cloud package and specific applications and services.SAP is also announcing new headless composable storefronts for verticals including financial services, travel, telecommunications and the public sector in addition to its existing offerings for retail, consumer products, distribution and manufacturing.
It's been a rollercoaster few days for the tech world, as the downfall of Silicon Valley Bank (SVB) - the second-largest US bank crash ever - plunged the future of thousands of companies, from startups to conglomerates, into immediate doubt.Interventions from the US government and HSBC in the UK have allowed those with money invested in SVB to breathe a sigh of relief - so what happened?
AI startup BEN adds Chris Heller as adviser to board of directors
BEN onboarded Chris Heller, industry veteran, as adviser amid preparations for going public through a merger with DHC Acquisition Corp valued at $358 million.
Heller brings over 35 years of real estate experience and will provide expertise on financial services, real estate, and AI applications to empower consumers and service providers. [ more ]
IBM: While Enterprise Adoption of AI Increases, Barriers are Limiting Its Usage
42% of enterprise-scale companies have actively deployed AI, with 59% accelerating their rollout or investments.
Top factors driving AI adoption are advances in AI tools, the need to reduce costs and automate processes, and the increasing amount of AI embedded in business applications. [ more ]
IBM: While Enterprise Adoption of AI Increases, Barriers are Limiting Its Usage
42% of enterprise-scale companies have actively deployed AI, with 59% accelerating their rollout or investments.
Top factors driving AI adoption are advances in AI tools, the need to reduce costs and automate processes, and the increasing amount of AI embedded in business applications. [ more ]
Retail media has experienced an influx of attention this past year as brands and agencies understand the power of this medium.By engaging retail customers with both endemic and non-endemic products, they can grow awareness, drive engagement and capture conversions.And retail media spans many different industries, from travel to financial services and more.
2 Best Growth Stocks to Buy Before April 2023 | The Motley Fool
The S&P 500 index dropped into a bear market early last year as high inflation and rising interest rates gnawed away at investor confidence, and very little has changed since then.The S&P 500 is still down 17% from its highs, inflation remains elevated, and the Federal Reserve recently raised its benchmark interest rate for the ninth consecutive time.
Nanonets raised $29 million led by Accel India to improve automation accuracy using AI.
Nanonets provides AI solutions for processing unstructured data in financial services, reducing manual processing time from 15 minutes to under a minute. [ more ]
Plaid's new president hails from Cloudflare, has IPO experience | TechCrunch
Plaid has named Jennifer Taylor as its first president, following the recent hiring of a CFO, suggesting the company may be preparing for an IPO.
Taylor's experience scaling products and her tenure at Cloudflare, including during and after its IPO, indicate that Plaid is moving closer to going public.
Plaid, which connects consumer bank accounts to financial applications, has expanded its offerings to include lending, anti-fraud, and payments, and has worked to diversify its revenue streams since the failed Visa acquisition. [ more ]
Founder Summit: Work smarter, not harder as you scale Zoom Luma
Feeling like you're always busy? Never have time to slow down and think strategically about your business?We know how you feel.That's why we created Founder Summit: Work smarter, not harder as you scale - a virtual summit designed for founders to pause working in the business to start working on the business.
Fairway is the latest mortgage company to report cyber incident
Fairway Independent Mortgage Corp. suffered a cyber attack due to vulnerabilities in a vendor system.
The company engaged a third-party security firm to assist in identifying impacted customers and promptly implemented a patch to rectify the vulnerability. [ more ]
14 Million Records Stolen in Data Breach at Latitude Financial Services
Australian financial services company Latitude Financial Services now says that roughly 14 million records were stolen in a cyberattack earlier this month.The incident was disclosed in mid-March, when the company started notifying roughly 300,000 customers of a data breach impacting their personal information.
Cyber security leaders tend to be happy with the quality of threat intelligence they get from their industry partners, but struggle to generate real insight from it, and are making uninformed, or even downright bad, purchasing decisions as a result.A study conducted by Google Cloud's Mandiant, based on a global survey of 1,350 security decision-makers in 13 countries and 18 sectors, including financial services, government and healthcare, found that while security leaders believe they need to better understand the threats they may be facing, 79% of them are making important security decisions without insights.
Bankers' bonuses: No cap under Labour, says Reeves
Labour says it would not reinstate a bankers' bonuses cap that was scrapped by the Conservative government last year.
Labour's new plan for the financial services sector marks a big change from previous policies and has received criticism.
Labour's policies include closer ties with the EU, expanding finance centres outside London, streamlining regulation, and boosting pension investment in UK companies and green technologies. [ more ]
Minister Kemi Badenoch defends climbdown over EU laws deadline
The business secretary has defended a government climbdown on its plan to get rid of EU-era laws copied over after Brexit.Ministers announced last month they had ditched a December deadline for the laws to expire automatically, unless kept or replaced.At a Commons committee, Kemi Badenoch was criticised for making the U-turn over the Retained EU Law Bill.
UK aid to India does little for human rights and democracy, watchdog finds
Britain's aid programme to India is fragmented, lacks a clear rationale and does little to counter the negative trends in human rights and democracy in the country, the government's aid watchdog has found.The findings are likely to be used by those who claim the UK government risks using its aid programme to deepen its relationship with India, including seeking free trade deals, rather than attempting to reduce poverty, which is the statutory purpose of UK aid.
Times of India @timesofindia: Zerodha CEO Nithin Kamath has an 'AI warning' for banks and financial institutions. #aiact #ArtificialIntelligence #aistrategy https://t.co/rn1RJ91ZEL
Bitcoin Rallies Even as Regulators Crack Down on Crypto
Bitcoin touched an eight-month high on Thursday as investors jumped back into risky digital assets, despite renewed vows from regulators and lawmakers to rein in the cryptocurrency sector.Bitcoin traded near $25,000, a 10 percent gain from the day before, even as the stock market wobbled.Wall Street investors appear increasingly convinced that more interest rate increases will be needed to rein in inflation, which has stoked volatility in markets over the past week.
How does Quantum Computing Impact the Finance Industry?
Based on the World Economic Forum's estimate from 2022, national governments have invested more than $25 billion in quantum computing research, and over $1 billion in venture capital deals were closed in the previous year.Quantum computers (QCs) are in the early stages of development, and there are many technical challenges that need to be overcome before they can become practical tools for everyday use.
Finding value in generative AI for financial services
Generative AI has the potential to add significant value to the global economy, particularly in the banking industry.
Currently, the deployment of generative AI in financial services is still in the early stages, with a focus on automating repetitive tasks.
More disruptive use cases of generative AI, such as asset selection and risk assessment, are being explored, but face challenges in practical implementation. [ more ]
Akamai's new study: Bots, phishing and server attacks making commerce a cybersecurity hotspot
Akamaiâs study found that the number of bot attacks on ecommerce websites has increased by 21% over the past two years.
The most common types of bot attacks are credential stuffing, account takeover, and basic authentication.
Businesses can protect themselves from bot attacks by implementing a multi-layered security strategy that includes using authentication, IP reputation, bot detection, and web application firewalls. [ more ]
Cisco to Acquire Valtix for Cloud Network Security Tech
Cisco is dipping into the acquisition pool to beef up its cybersecurity portfolio with plans to acquire Valtix, an early-stage Silicon Valley startup in the cloud network security business.Financial terms of the deal were not released.Valtix, a Series A startup that emerged from stealth four years ago, raised $26.5 million in venture capital financing.
New guide aims to help families access savings of disabled young people
Parents who care for disabled young people will be better supported to access vital savings, including child trust funds (CTFs), due to a new guide, according to the Government.The toolkit marks the first step in the Government's pledge to raise awareness of the law to support families, providing the information they need in an easily accessible format so they can access funds quicker.
Talks on renewing Britain's business ties with Hong Kong will be held during the first visit to the city by a UK minister since China's crackdown on its civil rights.The Government has condemned the national security law imposed by Beijing on the former British territory in 2020 after mass protests.
Greens hoping ultra-local focus will bring low-key revolution in Suffolk
Opening the door of her Victorian house dressed in a smart jumper and crisp red trousers, Wendy Robbins, 87, hardly resembles a stereotypical Green voter.But she is and one so loyal she is almost aghast at being canvassed.For goodness sake, you don't have to ask, she playfully chastises Andrew Stringer, the local Green councillor, who has knocked on her door in the Suffolk village of Mendlesham ahead of Thursday's local elections.
City officials say no to bond elections before 2026 - Austin Monitor
Friday, April 28, 2023 by Jo Clifton The city of Austin has promised voters it would build a wide variety of projects, ranging from roads to affordable housing to parks, libraries and health centers.City financial advisers told the City Council Audit and Finance Committee on Wednesday that the total authorization for public improvement bonds is currently at $3.5 billion.
More than 750,000 people' in UK have had long Covid at least two years
More than three-quarters of a million people in the UK with long Covid are likely to have first had the virus at least two years ago, new figures suggest.Some 1.9 million people across the country are currently estimated to be suffering from long Covid, or 2.9% of the population.This includes 762,000 who first had Covid-19, or suspected they had the virus, at least 24 months previously.
Newsletter publishers say they continue to see uptick in revenue despite advertising slowdown
Though some publishers are seeing ad revenue pace behind forecasts this quarter, newsletter publishers have been able to continue to attract dollars from existing advertisers as well as bring on new advertisers to their products, according to conversations with six publishing executives.The Gist, 1440, Industry Dive and The Ankler are continuing to run profitable businesses and are not seeing the impact of the advertising slowdown on their revenues, according to their executives (Puck and Front Office Sports declined to comment on their profit margins).
All we know about Beast' lawyer planning to tear Prince Harry's case to shreds'
Prince Harry is set to be the first royal in 130 years to undergo cross-examination in a British court this week, in a blockbuster legal battle with the Mirror publisher over alleged phone hacking.As he enters the witness box in a historic showdown on Tuesday, the Duke of Sussex will face Andrew Green KC, the renowned barrister acting on behalf of Mirror Group Newspapers (MGN).
All we know about Beast' lawyer planning to tear Prince Harry's case to shreds'
Prince Harry is set to be the first royal in 130 years to undergo cross-examination in a British court this week, in a blockbuster legal battle with the Mirror publisher over alleged phone hacking.As he enters the witness box in a historic showdown on Tuesday, the Duke of Sussex will face Andrew Green KC, the renowned barrister acting on behalf of Mirror Group Newspapers (MGN).
All we know about Beast' lawyer planning to tear Prince Harry's case to shreds'
Prince Harry is set to be the first royal in 130 years to undergo cross-examination in a British court this week, in a blockbuster legal battle with the Mirror publisher over alleged phone hacking.As he enters the witness box in a historic showdown on Tuesday, the Duke of Sussex will face Andrew Green KC, the renowned barrister acting on behalf of Mirror Group Newspapers (MGN).
No economic growth forecast until next year as outlook exceedingly uncertain'
Scotland will have to contend with high inflation throughout 2023, an economics expert warned with significant price rises particularly for food continuing to put pressure on household budgets.Professor Mairi Spowage, director of the Fraser of Allander Institute think tank, said the economic outlook is exceedingly uncertain.
Scottish economy will not return to growth until 2024, experts warn
Challenging economic conditions could stretch into the summer of 2023, experts have warned, with a new report stating Scotland will only return to growth next year.Projections suggest gross value added (GVA) a measure of the value of goods and services produced will fall by 0.6% during 2023, with this decline largely concentrated in the first six months.
Hanging on the telephone: Long call waiting times are top frustration'
Being kept waiting on the telephone is the top frustration for customers when dealing with businesses and other organisations, according to a survey commissioned by the Association of British Insurers (ABI).Automated call options were the next biggest gripe, followed by unhelpful staff and hard-to-understand terms and conditions, the research carried out by Yonder Consulting found.
Fifth of young adults would choose a bank based on having a branch nearby'
One in five (21%) 18 to 34-year-olds across the UK would choose a bank based on it having a nearby branch, according to a survey.The proportion is significantly lower than in some other European countries, the research indicates.In Italy, 42% of young adults would choose a bank based on having a nearby branch, as would a third (33%) in France, 31% in Austria, 32% in Germany and 30% in Spain, according to the survey, commissioned by CRIF (Centrale Rischi Finanziari), a global company which supports firms offering financial services.
CFPB orders OneMain Financial to pay $20M over sales practices
The Consumer Financial Protection Bureau (CFPB) on Wednesday announced that it has ordered mortgage lender and servicer OneMain Financial to pay $20 million in redress and penalties stemming from sales practices the Bureau has called deceptive.Among the allegations, the CFPB alleged that the lender pushed employees to hit sales targets and illegally withheld refunds.
OneMain Financial to pay $4.25 million to New York State over cybersecurity lapses
New York State's Department of Financial Services (DFS) announced this week that mortgage lender and servicer OneMain Financial will pay a $4.25 million penalty due to lapses in its cybersecurity controls by failing to effectively manage third-party service provider risk, manage access privileges, and maintain a formal application security development methodology.
Blend places its bets on 'composable origination' tech
In a margin-compressing environment, California mortgage tech firm Blend Labsis betting that its newly launched composable origination tech will help the firm recover from its financial losses.Available in its Blend Builder Platform, users can build their own origination products, leverage integrations, and use modular blocks to resolve the complexity of an existing technology infrastructure, the company said in an announcement about the launch on Tuesday.
Cryptocurrency trading should be regulated as gambling, says Treasury Committee
Consumer cryptocurrency trading should be regulated as gambling, the Treasury Committee has urged.In a new report, the committee called for consumer trading in unbacked cryptoassets to be treated in regulation as gambling.The cross-party committee of MPs said cryptocurrencies such as Bitcoin are being used by criminals in scams and money laundering.
Developers Deploy Uniswap Contracts on Bitcoin as BRC20-Based SHIB, PEPE Gain Popularity
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.A group of developers have deployed Uniswap's smart contracts onto the Bitcoin network to capitalize on the rise of BRC-20 tokens and develop the decentralized finance (DeFi) ecosystem.
New York Attorney General Seeks New Crypto Powers for State Regulators: Report
The New York Department of Financial Services would have stronger authority to regulate digital assets, with exchanges having to reimburse customers if they're the victims of fraud, under a bill proposed by the state's Attorney General Letitia James on Friday, according to media reports.In recent months James has taken actions involving crypto companies Celsius, KuCoin and Nexo, claiming a number of crypto tokens are commodities or securities despite a considerable gray area over the scope of existing law, and the bill would also give her extra enforcement powers, according to reports in the Wall Street Journal and Bloomberg.
Registered UK Crypto Firms Can Approve Their Own Ads, Lawmakers Decide
U.K. lawmakers voted in favor of a highly anticipated amendment to ease advert approvals for crypto firms on Wednesday, meaning it is now on track to become law.The amendment would allow crypto companies that are already registered with the country's financial watchdog under its anti-money laundering regime to be able to approve their own ads, something they would otherwise not be able to do.
TrueUSD's Borrowing Rates Jumped to 100% as TUSD Soared to $1.20: Kaiko
Traders quickly jumped in to take advantage of TrueUSD's (TUSD) depegging event earlier to capture a potential 20% gain - paying an outrageously large amount in fees to be able to do so.Crypto analytics firm Kaiko said in a Wednesday newsletter that onchain traders utilized Aave and Compound, two popular lending protocols, to borrow large amounts of TUSD and quickly swapped these holdings for USD Coin (USDC), another dollar-pegged token.
UK Crypto Promotions Laws Hoped to be in Place by Late 2023
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Camomile Shumba is a CoinDesk regulatory reporter based in the UK.
NBCUniversal's Linda Yaccarino in Talks to Run Twitter Report
NBCUniversal executive Linda Yaccarino is in talks to become Twitter's chief executive officer, the Wall Street Journal reported, following owner Elon Musk's announcement that he had found a new leader for the social network and will shift into the role of chief technologist.In a tweet on Thursday, Musk said the company's new CEO will start in about six weeks, without naming the individual.
Holidaymakers need careful planning' to find bargain destinations report
UK holidaymakers keen to avoid steep price rises are being forced to choose their destination carefully, new figures show.Falls in the value of sterling against many other currencies and rises in resort prices mean the cost of typical tourist items are higher in four out of five popular resorts and cities compared with a year ago, according to Post Office Travel Money.
Leveraging Automation for Secure, Cost-Effective Mobile App Delivery
As businesses mobilize their customers and employees, they need to develop innovative mobile applications that safeguard user trust.But secure mobile development and manual security testing can be expensive and time-consuminga bigger challenge in slowing economies.However, the latest innovations in security automation for mobile teams can drive down security costs by half while speeding release time, getting quality mobile apps to market faster to grow revenue faster.
Chat GPT Hype Drives up AI Investments; ByteDance Rivals Meta in VR Headset Space
In today's ExchangeWire news digest: AI investments skyrocket off the back of Chat GPT's success; ByteDance strengthens its position in the VR headset market; and New York's DFS orders Paxos Trust Co. to cease the trade of Binance USD.Investments in AI firms skyrocket Analysts have warned of a "speculative" bubble brewing in the AI market as the success of ChatGPT has prompted an influx of investments in smaller AI firms.
Canadians Say No-Can-Do; Streaming Of The Good Old Days | AdExchanger
Here's today's AdExchanger.comnews round-up... Want it by email?Sign up Don't Label Me here.Canada is coming for digital platforms like YouTube, TikTok, Spotify and Netflix with legislation that requires the services to feature Canadian content in country.The new law extends regulations already in place for domestic TV and radio stations to abide by Canadian content quotas.
CNET's Owner Preparing to Restart Publishing AI-Generated Content
Barely a month after placing an indefinite pause on publishing AI-generated content, CNET owner Red Ventures appears poised to spin the AI content machine back up once again.Leaked audio obtained by Futurism has revealed that the publishing giant's execs are gearing up for a second rollout of the AI tech, which Red Ventures has internally rebranded as an assistive "tooling" program.
Over 7 billion francs of Russian central bank assets held in Switzerland
Switzerland on Thursday added Russia's Wagner mercenary group to its sanctions list following a similar move by the European Union last week.Published: 21 April 2023 10:33 CEST Wagner forces have been leading offensives in eastern Ukraine, including the city of Bakhmut, which has become the longest and bloodiest battle of Russia's military campaign.
UK MPs urge minister to do more to free Hongkongers' trapped savings
The first British ministerial visit to Hong Kong since the introduction of draconian Chinese security laws five years ago was a chance to demand that China unlock more than 2bn in pensions belonging to British overseas passport holders who fled for the UK, former cabinet ministers have told the Foreign Office.
Revealed: senior Tory MP was paid 2,000 a month by lobbying firm
A senior Tory MP has been criticised for failing to declare he was paid 2,000 a month to chair a pressure group lobbying Rishi Sunak.Bim Afolami, the former deputy chair of the Conservative party, declared in the register of interests that one of his private clients was a public affairs firm, WPI Strategy.
Belgian Crypto Ads Must Warn of Risks Under New Rules
U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.U.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Jack Schickler is a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium.
Can low-code development complement generative AI?
Generative AI is dominating conversations across the tech sphere right now, and even making its way into discussions in day-to-day life.But for the average IT team, large language models can still seem intimidating, and training or tweaking requires significant computing power and skill.Additionally, concerns around explainability and approachability are still a barrier to some regulated industries such as financial services or life sciences.
Civic Life Office Turns Down Portland Neighborhood Group's Bid for City Funds
A Southwest Portland district coalition that sought to reinstate its public funding was denied last month.Southwest Neighborhoods, Inc. (SWNI) was notified by the Office of Community and Civic Life on April 13 that its request for city funds was not included in the latest budget.The organization previously served as the city's designated coalition to serve more than 16 neighborhood associations in Southwest Portland.
Nasdaq Aims to Launch Crypto Custody Services in Second Quarter Exchanges Bitcoin News
Exchanges by Lubomir Tassev Nasdaq intends to launch its custody services for digital assets like bitcoin by the end of this year's second quarter.The exchange operator is among those traditional financial firms that want to play a role as intermediaries in the crypto sector which saw the collapse of some major players.
March 20, 2023 - Oil paintings of fruit arranged on a table.Colorful photography of boats in New England.A video of animated illustrations, set to the sound of a poem being read.All of these artworks and more have been brought together as part of the Harvard Staff Art Show, a series of online and in-person exhibits at various locations across campuses, including Countway Library.
Mad Money Jim Cramer on BTC Price Surge: 'I Would Sell My Bitcoin Right Into This Rally' Markets and Prices Bitcoin News
The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve.Bitcoin is a strange animal, he said, asserting that the price of the cryptocurrency is being manipulated up.Jim Cramer's Recommendations The host of CNBC's Mad Money show, Jim Cramer, says he would sell bitcoin into this rally as the price of BTC jumped following the collapse of several major banks.
Struggling mortgage shop Celebrity in M&A talks with On Q Financial: sources
Six months after shutting down its correspondent lending division, Illinois-based mortgage company Celebrity Home Loans' bread-and-butter retail channel is also at risk, multiple sources told HousingWire.According to former employees and business partners, several of Celebrity's retail branches transitioned to another lender in December and January.
India Brings Crypto Transactions Under Prevention of Money Laundering Act Regulation Bitcoin News
India's finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA).Noting that the move is a positive step in recognizing the sector, a crypto insider explained that it will strengthen the industry's efforts to prevent virtual digital assets from being misused by bad actors.
Apexon partners with LambdaTest on digital experience testing
Duncan is an award-winning editor with more than 20 years experience in journalism.Having launched his tech journalism career as editor of Arabian Computer News in Dubai, he has since edited an array of tech and digital marketing publications, including Computer Business Review, TechWeekEurope, Figaro Digital, Digit and Marketing Gazette.
Opinion | The Perfect Retirement Investment Nobody Wants
Two of your biggest financial risks in retirement involve your health, but they're almost opposed to each other.One is that you will require expensive long-term care early on.You will probably die young, but not before going broke from nursing home bills.Another is that you will stay healthy enough to live a very long life, but as a result you will run out of savings even if you never require long-term care.
Red Sea resorts may be cost-effective choice for UK holidaymakers
Sharp falls in the value of the Egyptian pound could make Sharm el-Sheikh and other Red Sea resorts a cost-effective choice for UK-based holidaymakers looking to travel abroad in 2023, according to analysis.Post Office Travel Money found the gains that sterling has made against the Egyptian pound over the past year equate to getting around 210 extra on a 500 currency transaction.