First Global Data (CVE:FGD) Director Continues Acquisition of Shares

Director Peter Alan Lacey of First Global Data (CVE:FGD), acquired 698,000 FGD shares on Friday, January 12th at an average price of C$0.22 each. Total value of the transaction was C$153,560.00, according to dispatch


Previously, on December 13th, Peter Alan Lacey also acquired 139,000 shares of First Global Data stock at an average price of C$0.22 per share.

Shares of First Global Data Ltd (CVE:FGD) closed at C$0.24 on Monday, June 23rd, 2018 with trading volume of 2,212,467 (about double its recent average daily trading volume).

First Global Data Ltd has a 1-year low of C$0.19 and a 1-year high of C$1.00.

First Global Data Company Profile

First Global Data Ltd is a Canada-based financial services technology company which operates in the payments sector and focuses on domestic and cross border payments. Services include consumer-to-consumer money transfer, which are provided under the First Global Money brand and Mobile Payments which are generally provided under the PayQwik brand.

Bank Of Canada Admits Economy More Sensitive To Hikes

Bank of Canada increases overnight rate target to 1 1/4 per cent

The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook.

The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank’s October Monetary Policy Report(MPR). In particular, there are signs of increasing momentum in the US economy, which will be boosted further by recent tax changes. Global commodity prices are higher, although the benefits to Canada are being diluted by wider spreads between benchmark world and Canadian oil prices.

In Canada, real GDP growth is expected to slow to 2.2 per cent in 2018 and 1.6 per cent in 2019, following an estimated 3.0 per cent in 2017. Growth is expected to remain above potential through the first quarter of 2018 and then slow to a rate close to potential for the rest of the projection horizon.

Consumption and residential investment have been stronger than anticipated, reflecting strong employment growth. Business investment has been increasing at a solid pace, and investment intentions remain positive. Exports have been weaker than expected although, apart from cross-border shifts in automotive production, there have been positive signs in most other categories.

Looking forward, consumption and residential investment are expected to contribute less to growth, given higher interest rates and new mortgage guidelines, while business investment and exports are expected to contribute more. The Bank’s outlook takes into account a small benefit to Canada’s economy from stronger US demand arising from recent tax changes. However, as uncertainty about the future of NAFTA is weighing increasingly on the outlook, the Bank has incorporated into its projection additional negative judgement on business investment and trade.

The Bank continues to monitor the extent to which strong demand is boosting potential, creating room for more non-inflationary expansion. In this respect, capital investment, firm creation, labour force participation, and hours worked are all showing promising signs. Recent data show that labour market slack is being absorbed more quickly than anticipated. Wages have picked up but are rising by less than would be typical in the absence of labour market slack.

In this context, inflation is close to 2 per cent and core measures of inflation have edged up, consistent with diminishing slack in the economy. The Bank expects CPI inflation to fluctuate in the months ahead as various temporary factors (including gasoline and electricity prices) unwind. Looking through these temporary factors, inflation is expected to remain close to 2 per cent over the projection horizon.

While the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target. Governing Council will remain cautious in considering future policy adjustments, guided by incoming data in assessing the economy’s sensitivity to interest rates, the evolution of economic capacity, and the dynamics of both wage growth and inflation.

Information note

The next scheduled date for announcing the overnight rate target is March 7, 2018. The next full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR on April 18, 2018.

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First Global Data to Provide Mobile Payments for Chinese Vacationers to USA

Information provided by First Data Global

TSX Venture Exchange: FGD  Frankfurt Stock Exchange: 1G5

TORONTOJan. 16, 2018 /CNW/ – First Global Data (“First Global” or the “Company”) is very pleased to announce that it has entered into a Definitive Agreement with China Smartpay to deliver cross border payment solutions for Chinese vacation travelers and students studying overseas. On September 26, 2017 the Company announced that it had entered into a binding MOU with China Smartpay.

First Global’s implementation team has also recently returned from Shanghai and is working closely with China Smart Pay to implement the solution.

The service will allow WeChat users in China to travel to the United States, shop at a US retail location, and purchase goods using the funds on their WeChat mobile wallet. There are close to 1 billion users on the WeChat mobile platform globally and as noted in the September 26, 2017 press release, in 2015 “Chinese shoppers bought almost half of the world’s luxury goods”…”The outbound Chinese tourist numbers reached 120 million in 2015″…and “Chinese consumers spent 1.2 trillion yuan ($183 billion)“. According to Fung Global Retail and Tech ( By 2020, they estimate that “186 million Chinese tourists will travel overseas”…and that “their total overseas spending will reach US$349 billion per year.”

First Global, through its money transmitter licenses will ensure that each transaction complies with US regulatory guidelines. In addition, First Global will be responsible for retrieving the consumer funds from their mobile wallets and settling all transactions with the US based merchants. Merchants will pay First Global a percentage of the gross dollar value of the goods purchased, which is the existing model used for purchases made with credit cards today. First Global will share revenues with China Smartpay.

“The US is one of the most frequented countries for Chinese vacationers. The benefit for US retailers can be significant as this provides them with access to a relatively new and very large base of shoppers. In addition, retailers will benefit from accepting payments from the leading edge mobile payment service implemented by First Global. Deploying services in the USA is intended to be phase 1 and we will keep our shareholders updated as the project evolves. From my perspective, this initiative fits our Company like a glove. It leverages our cross-border capability, access to very large consumer base, our licenses, and is within our mobile centric payments and transactional revenue focus”, said Andre Itwaru, Chairman and CEO of First Global Data Limited.

About China Smartpay (

China Smartpay is China’s leading payment solutions company. The China Smartpay Group Holdings (8325.HK) is a Hong Kong-listed company which is engaged in smart payment and internet finance. The company owns the nationwide prepaid card license and internet payment license, and possesses leading smart POS technology and systems. By cooperating with capable and well-known strategic partners, China Smartpay is able to take a leading position in the payment industry. China Smartpay’s payment business will be based on prepaid cards, and expand into internet payment, mobile payment, and P2P, etc. in order to serve customers of various types, and establish a vast real-name account network. In the long term, such account networks will become the platform for integrated and personalized financial services.

About First Global Data Ltd. (

First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

Neither TSX Venture Exchange Inc. (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE First Global Data Limited

For further information: Andre Itwaru, Chairman and CEO, First Global Data Limited, email:

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Originally published by Baldo Minaudo on, Baldo Minaudo, M.B.A. is a Real Estate Broker located out of Toronto serving local and international clients. He may be reached through is office 416-698-2090 or through his website.