The Minister of Economy of Argentina and candidate for president, Sergio Massa, reported that the State will take measures to support informal workers who have suffered the ravages of growing inflation in the country.

The program will consist of the disbursement of the sum of 47,000 pesos (equivalent to $128.5) in both October and November.

This measure will benefit informal workers between the ages of 18 and 64, who lack registered income and do not receive any type of financial assistance from the State.

According to the most recent data provided by the authorities, the labor informality rate among salaried workers reached 36.8 % in the second quarter of this year. It is important to note that this figure does not include people who work informally on their own.

This new measure adds to a series of initiatives previously announced by Massa in recent weeks, aimed at partially offsetting the loss of income experienced by the acceleration of inflation in August, which reached 12.4 % compared to July and a 124.4 % in interannual terms. This increase came after a 22 % devaluation in the official exchange rate, which occurred one day after the August 13 presidential primaries.

Massa reiterated that this devaluation was imposed by the International Monetary Fund (IMF) as part of the recent reviews of the debt refinancing agreement worth $45 billion, signed with the organization in March 2022.

K. Tovar

Source: Bloomberg

(Referential image source: Pepi Stojanovski, Unsplash)

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Thailand has decided to require an injunction to shut down Facebook if it fails to effectively address misleading investment ads and cryptocurrency scams on its platform.

On Aug. 21, the Ministry of Digital Economy and Society (MDES) reported that more than 200,000 people were notably misled by Facebook ads promoting cryptocurrency scams, investments in fictitious companies, and fake government entities, such as the Stock Exchange Commission and Values.

Among the most common schemes used by scammers were cryptocurrency investment and business fraud, according to MDES. Some ads apparently used images of famous personalities and well-known financial figures, offering promises of up to 30 % daily profit, with the purpose of luring people into scams.

Chaiwut Thanakamanusorn, the MDES minister, said that the ministry had held talks with the Meta platform and had sent a letter to it in this regard, however, he stated that it does not exercise control over advertisers.

The Ministry is amassing evidence of the fraudulent advertisements, which, according to his statement, number a considerable 5,300. Later this month, he is set to formally petition the court to shut down Facebook within seven days.

The Ministry alerted about the modus operandi of these scams, emphasizing that consumers must be careful when faced with promises of high and guaranteed returns, as well as with advertisements that use images of famous people.

K. Tovar

Source: Cointelegraph

(Reference image source: Timothy Hales Bennett, Unsplash)

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The measures that Spain has taken with the aim of saving energy came into force this Wednesday in cultural centers, shops, airports and other public places.

The decree, approved last week, establishes “moderate air conditioning” as the main provision, which is why public spaces such as cinemas or theaters, airports, train and bus stations must maintain air conditioning at a minimum of 27 ºC.

The decree is valid until the next month of November 2023, and also contemplates that the lights of the shop windows “of the stores or those that illuminate public buildings that are unoccupied, be turned off at 10:00 p.m. (8:00 p.m. GMT).”

On the other hand, those air-conditioned premises that do not have an automatic door closing mechanism will have to install it in order to avoid energy waste. The decree does not contemplate the sanctions that could lead to non-compliance with said measures.

At the end of May, Spain began with some measures in public institutions that restricted the use of air conditioning, in addition to promoting teleworking among officials.

The European Union committed to reducing energy

Last July, the 27 countries that make up the European Union pledged to join efforts to reduce “gas consumption by at least 15 % between August 2022 and March 2023, compared to the average of the last five years of the same period”.

The objective of the plan is to save gas and prepare for the winter, in case the President of Russia Vladimir Putin, due to the imposed sanctions, decides to suspend the supply of gas to Europe.

M. Rodríguez

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Source: bancaynegocios

La entrada Spain energy-saving measures come into force apareció primero en Bitfinance.

Christine Lagarde, president of the European Central Bank (ECB) stressed that an increase in interest rates will not impact the reduction in energy prices, which are responsible for 50 % of the increase in inflation on the continent.

The official made these statements in the framework of an environment of great pressure for the institution to raise interest rates. “If I raise interest rates today, it won’t lower the price of energy,” she said.

Inflation in the eurozone during the month of March registered 7.5 %, while in the United States it reached 8.5 %.

According to Lagarde, inflation in Europe “is very high” currently and, in her opinion, “50 % is related to energy prices” and the war between Russia and Ukraine increased “drastically those prices”,

Measures to face pandemic affected inflation

The president of the financial entity also stressed that the different countries in the area and the United States took measures to face the global pandemic caused by Covid-19, causing an increase in inflation of a different nature on both sides of the Atlantic.

Different central banks around the world are increasing interest rates as a measure to reduce consumption and try to stabilize the prices of products and services. While they stopped “asset purchases in the course of the third quarter and there is a high probability that we will do so early in that period”.

Lagarde is in the United States to participate in different financial meetings and in a statement to the media she made reference to the differences between the two economies, expressing that the “tightness of the labor market in the United States is clearly contributing to a possible strong inflation and a second-round effect in which prices go up, wages go up, there is a labor shortage, wages continue to go up, and that feeds back into prices.”

M. Rodríguez

Source: bancaynegocios.com

La entrada Energy prices impact European inflation apareció primero en Bitfinance.

The National Securities Market Commission (CNMV), the entity responsible for regulating and supervising the Spanish stock market, requires Internet companies such as search engines and social networks to stop providing advertising services for those investment platforms in cryptocurrencies that they do not comply with legal regulations or are not registered to offer this type of financial services.

The regulatory body explained that large internet service providers are granting important advertising space to different investment platforms that are not authorized to provide financial services with cryptocurrencies.

The president of the CNMV, Rodrigo Buenaventura, stated that “it is unjustifiable that companies that broadcast paid advertising on social networks or search engines profit by admitting advertisements from pirate entities, which are publicly warned as unregistered platforms.”

Users under risk

According to Buenaventura, this situation is very worrying because in addition to incurring in the violation of the entity’s regulations, the population runs a very high risk because they can go to request the services of a company that does not comply with all legal regulations, and be defrauded.

Unregistered companies “are endangering their own customers by advertising these services, making them fall for various scams.” Bonaventure explained

According to the information, the CNMV will provide time for companies to take the pertinent measures and make the necessary changes to protect their users. However, he warned that if his demands are not resolved, “actions on the matter will be taken as proposing regulations that oblige companies to comply with these requirements.”

The CNMV already has regulations requiring advertising campaigns linked to cryptocurrencies aimed at more than 100K users to previously inform the regulatory body of their scope.

M. Rodríguez

Source: crypto247.com

La entrada Spain demands control of cryptocurrency advertising apareció primero en Bitfinance.

The Polish government announced that it will pass national laws to prevent “coal imports from Russia and freeze the financial assets of individuals and entities that support Russia.”

The information was provided by Piotr Müller, spokesman for the Executive, who stressed that these measures were agreed upon during the Council of Ministers, held on Tuesday, March 29, because in the opinion of the Polish authorities: “We can no longer wait for the decisions of the European Union”.

According to Müller, the proposed measures “will go beyond the EU sanctions, since these “require unanimity from all member states.” However,  we are taking measures in Poland with the invocation of a “security clause.”

The Ministry of the Interior will be the entity responsible for drawing up the “list of personalities and entities” that would be impacted by the freezing of their assets. This list will be published in the coming days.

Freezing of financial assets and embargo  of coal imports

The Executive spokesman stated that the purpose of the Government is “to take measures that freeze various types of funds, including cash transfers, checks, money orders, deposits, any transaction that may benefit the Russian Federation. “It will also facilitate the freezing of economic resources, both tangible and intangible assets, movable and immovable.”

On the other hand, the Polish government has been facing strong criticism from its political opponents, who consider the government incoherent because the government. On the one hand it promotes the tightening of economic sanctions against Moscow; but on the other hand it continues to import large amounts of coal from that country.

Mateusz Morawiecki, Polish Prime Minister, in the first days of March stated that Poland is “prepared to implement an embargo on Russian coal imports at any time”, noting that up to now it has not been able to execute it because “trade agreements agreement signed by the EU affect Poland.”

It was also recently known that the contract that Poland has with the Russian state gas company Gazprom expires at the end of this year and they have already announced that it will not be renewed.

M. Rodríguez

Source: swissinfo.ch

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The President of the Dominican Republic, Luis Abinader, in a message addressed to the population, announced the elimination of preventive measures to avoid the spread of Covid-19 since Thursday  February 17. “As of today, all the restrictive measures imposed by Covid-19 are suspended.”

The use of masks in public spaces and in those private areas for public use will no longer be mandatory, nor will a vaccination card be required to enter the different spaces, nor will the capacity be limited, as a consequence of the “success” of the vaccination program. implemented in the Caribbean island for a year.

According to the Dominican president: “The country deserves and needs an emotional recovery and to leave behind the measures that we had to impose for a time, and are already in the past.” Emphasizing that prevention measures will be the individual responsibility of each citizen of the country. “After this long battle, we started to get our freedom back.”

Overcoming the pandemic

During his speech, the president of the Dominican Republic assured that the country has overcome “the worst of the pandemic” and that the daily infections and those of the last four weeks are in clear decline. While the mortality rate is one of the lowest on the planet and the occupation of intensive care beds is at highly controllable levels.

The nation registers 4,351 deaths during the pandemic and has suffered five waves since the virus began in March 2020.

Abinader described as a “great collective victory” the National Vaccination Plan, which reached its first year and stressed that Dominicans “were an example to the world.”

M. Rodríguez

Source: swissinfo.ch

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