China signed an agreement with the United States to reduce tariffs affecting tens of billions of dollars worth of goods from both countries.

This was announced in an official Chinese statement on Wednesday, May 20, following the meeting in Beijing between Donald Trump and Xi Jinping.

“As a result of their summit last week, a trade council was established, under whose auspices both sides agreed in principle to discuss a framework agreement for the reciprocal reduction of tariffs on equivalent-scale products,” the Chinese Ministry of Commerce stated.

Tariff cuts are expected to affect goods valued at “$30,000 or more for each side,” an anonymous source indicated.

China is confident that the U.S. will honor its commitment and has requested an extension of the trade truce agreements reached last year. Furthermore, the Ministry of Commerce reported that the country will reinstate the registrations of some U.S. beef exporters, which expired last year.

M.Pino

Source: ultimahora

(Reference image source: Rinson Chory on Unsplash)

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Donald Trump assumes the presidency of the United States today, but he has already revolutionized the crypto market with the launch of his own meme digital currency.

It is called Trump and although at first it generated mistrust due to fear of a scam, in view of the proximity of the president’s inauguration, the President himself clarified it through his account on Truth Social and X.

The price of Trump’s meme cryptocurrency increased by billions of dollars in a few hours, although it is necessary to remember that this type of asset has no economic or transactional utility “and is often considered a purely speculative asset.”

In any case, it is more of an instrument to strengthen the confidence of the American people in the president who is assuming the presidency today. In this regard, it was said: “This Trump meme celebrates a leader who never gives up, no matter the situation,” as read on the official website of the project, referring to “the failed assassination attempt on the Republican candidate last July.”

To dispel fears about a possible scam, announcements were published on the official accounts of the Republican, who has already used the firm behind the project, CIC Digital LLC, to sell NFTs.

M.Pino

Source: elestimulo

(Reference image source: Mason Hassoun on Unsplash)

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This Wednesday, the Court of Justice of Lisbon, Portugal, issued a ruling in favor of Venezuela in the case of the 1,500 million dollars that remained withheld at Novo Banco.

The Portuguese entity had withheld the funds in 2019, “after the United States Department of the Treasury announced in January of that year that it would impose sanctions on the PDVSA oil company.”

Consequently, 7,000 million dollars were frozen, as well as all the payments that had to be made to the United States companies that bought Venezuelan oil through Citgo, a subsidiary of PDVSA.

Now, after the court’s ruling, the Portuguese government will have to make the payment “of the final balance on the date of cancellation of the contracts and late-payment interest.”

The Venezuelan government was pleased to hear the news and indicated that it is a victory for the people. The money recovered will be available for social investment.

However, according to statements by former National Assembly deputy Carlos Paparoni, Maduro will not have access to the funds unfrozen by Portugal, given that they are under US Treasury measures. The Vice Minister of Anti-Blockade Policies of the Ministry of Economy and Finance, William Castillo, confirmed this information on his account on the X social network.

For his part, the candidate for the opposition primaries, Henrique Capriles, called on all unions and workers’ unions in the country for the money to be allocated to a $150 bonus for pensioners and public sector workers.

M.Pino

With information from national and international media, agencies and social networks

(Reference image source: X, @NoticiasCanaLi_)

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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 stressed that 80 % of attacks could be mitigated by upgrading cyber defense systems.

Israel, the cyber capital of the world, is the second most attacked country in the world after the United States. It is also one of the most developed countries in cybersecurity, attracting an investment of 8.8 billion dollars in 2021.

Israel’s study of 20,000 reports of cyberattacks or attempted attacks showed that phishing is the main method used in cyberattacks.

In addition, the education, health and government sectors are the most attacked, followed by infrastructure, finance, energy, water and telecommunications. To protect against cyberattacks, a holistic solution and public-private cooperation are needed.

K. Tovar

Source: Bancaynegocios

(Reference image source: file)

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Several reports assure that some millionaires from Russia would be heading to the United Arab Emirates in order to be able to liquidate their assets in cryptocurrencies.

Given the situation between Russia and Ukraine, added to the number of sanctions and restrictions that many countries and organizations have applied, cryptocurrency companies based in the UAE have been receiving a good number of requests in recent days to transfer millions of dollars to digital assets.

An executive at one of the firms says he has received many inquiries in the past 10 days from Swiss brokers asking to settle fiat money in bitcoin because their clients fear Switzerland will freeze their assets.

Reports indicate that not all Russian clients want to move their money into cryptocurrencies, there are some who have shown interest in the real estate sector in the region, and others are thinking of using the services of Emirati companies to convert their digital money into some heavier currency.

The apparent political ambiguity of the UAE in the face of the conflict in Europe and the favorable regulations with cryptocurrencies could be providing an escape route for the Russians amid Western sanctions.

K. Tovar

Source: DiarioBitcoin

La entrada Russians seek to convert their assets into cryptocurrencies apareció primero en Bitfinance.