The city of Changshu, in China's east China's Jiangsu province, is giving new impetus to the adoption of the digital yuan, China's central bank digital currency (CBDC), by starting to pay public sector employees their salaries in digital yuan starting in May, according to an official report from the…
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economy
Biden and Petro met at the White House
The Colombian president, Gustavo Petro, proposed to his US counterpart, Joe Biden, to take to the International Monetary Fund (IMF) the proposal that the states exchange public debt for climate actions, in an effort to tackle the…
S&P upgrades Guatemala’s rating to ‘BB’ with stable outlook
S&P has upgraded Guatemala's credit rating to 'BB' from 'BB-' with a stable outlook, saying the Central American country has a "resilient" economy and macroeconomic management will be "cautious" over the next year and a half.
According…
Hague court orders Russia to pay $5 billion in compensation to Naftogaz
The Permanent Court of Arbitration in The Hague issued a landmark ruling ordering Russia to pay a record $5 billion in damages to Naftogaz, the state-owned Ukrainian energy company. The ruling stems from the confiscation of Naftogaz's…
Lula: “Interest rates are very high”
The President of Brazil, Lula da Silva, once again insisted that interest rates at 13.75 % continue to be "very high" and are detrimental to businessmen who want to increase their investments in the country, being perceived as a figure that…
Malaysia and China seek to create an Asian Monetary Fund to counter the dominance of the dollar
Malaysian Prime Minister Anwar Ibrahim has proposed the creation of an "Asian Monetary Fund" as an alternative to the dominance of the US dollar and the International Monetary Fund (IMF) on the world financial stage. During a meeting with…
Eurozone manufacturing PMI marks 4-month lows
The deterioration in factory activity in the eurozone worsened in March, when the purchasing managers' index (PMI) fell to 47.3 points from 48.5 the previous month, its worst reading in four months, according to S&P Global. Market…
TikTok was fined by the UK for data misuse
Chinese social media platform TikTok was fined £12.7 million (about $15.9 million) in the UK for various offenses, including misuse of children's data.
According to a statement issued by the UK Information Commissioner's Office (ICO),…
World Bank concerned about China’s loans to Africa
The president of the World Bank, David Malpass, affirmed that he views with "concern" the concessions of bank credits that China has granted to several African countries.
In an interview, Malpass assured that the terms and conditions of…
Cryptocurrency companies struggle to access banking services in the UK
Cryptocurrency businesses face multiple difficulties in accessing banking services in the UK. According to various sources, the few banks that still work with cryptocurrencies are increasingly requesting more documentation and information…
Putin believes that sanctions negatively affect Russia
The president of Russia, Vladimir Putin, admitted that the sanctions received as a result of the military offensive launched against Ukraine "may negatively affect" the evolution of the Russian economy, although he defended that in general…
Cyberattacks cause losses of almost $6 billion a day to the global economy
The Israel Center for Computer Emergency Response (CERT) has reported that cyber incidents or attempted attacks through the network generate global economic losses of almost 6,000 million dollars daily.
CERT Executive Director Erez Tidhar…