Author: Steven Sahiounie

The world’s largest crypto exchange by volume said new guidance related to stablecoins and investor limits prompted the exit. Crypto exchange Binance has announced that it would cease operations in Canada, citing the challenging regulatory environment. “We had high hopes for the rest of the Canadian blockchain industry,” the company said in a Friday tweet. “Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time.” In February, the Canadian Securities Administrators (CSA) revealed new guidance that prohibited crypto asset trading platforms within the country from allowing customers to…

The Bank of England raised its interest rate on Thursday to the highest level since late 2008, while the bank continues to battle skyrocketing inflation in the United Kingdom. The bank’s nine-member Monetary Policy Committee raised the key interest rate by a quarter of a percentage point to 4.5%, the 12th consecutive increase. Other major central banks, such as the US Federal Reserve and the European Central Bank, have also been raising interest rates at a steady pace to reduce inflation rates from their highest levels in decades. The Bank of England began raising the interest rate in late 2021…

The economist, Alexander Nazarov, predicted that the funds owned by the US Treasury would run out within a month, noting that only $154 billion remained in the US ministry’s account. The expert said in a post on his Telegram channel today, Friday: ′′ Only $ 154 billion remains in the US Treasury account. Pay the salaries of teachers and civil servants. The economist attached the publication to a chart showing the remaining funds in the US Ministry’s account on May 10, 2023. Earlier this week, US President Joe Biden warned that US default would generate difficulties and problems that would…

US Treasury Secretary Janet Yellen has announced that she intends to inform the US Congress of expected default dates within two weeks. “I don’t want to talk about exact dates. It will certainly happen within the next two weeks,” Yellen said in an interview with Bloomberg, which was published on Friday. Last January, the United States exceeded the statutory debt ceiling of $31.4 trillion, which prompted the US Treasury Department to use emergency measures to continue its financial operations. The US administration has been urging Congress in recent months to raise the debt limit. The Republicans who control the House of Representatives…

Grocery inflation surged above 19% in March, according to data from the Bank of England Rising grocery prices in the UK have replaced energy as the main inflationary concern for the Bank of England (BoE), Bloomberg reported on Thursday, after the bank made a 12th consecutive hike to the base interest rate. Although energy prices have slightly declined, British families are facing a tight squeeze on their finances due to double-digit inflation. Low- and middle-income families are being hit the hardest, given that they spend the bulk of their income on essentials and are now seeing a dramatic increase…

Bern will report on Moscow’s reserves every three months, the government has said Assets and reserves belonging to the Bank of Russia worth 7.4 billion Swiss francs ($8.3 billion) are currently held in Switzerland, the State Secretariat for Economic Affairs (SECO) reported on Wednesday. The government said the sum represents all central bank reserves and assets withheld in the country to date, adding that “the bank’s assets have been immobilized.” The “sum of immobilized assets should be distinguished” from the 7.5 billion francs ($8.4 billion) worth of frozen assets which belong to sanctioned Russian individuals and companies, SECO explained. Swiss officials highlighted…

The German government has given a final approval to a long-debated agreement that allows China’s state-run company COSCO to purchase a major stake in a container terminal in Hamburg Port despite security concerns and protests from members of the governing coalition. Berlin gave its go-ahead to the controversial deal in October but announced plans to revisit the decision last month. The review came shortly after the BSI, Germany’s national cybersecurity agency, classified the Tollerort container terminal as critical German infrastructure, meaning the acquisition could have faced heightened restrictions. In a statement on Wednesday, a spokesperson for the German government said…

Dmitry Medvedev recalled that attempts are being made to accuse Russia of blowing up the pipelines whereas it is Russia whose rights have been infringed upon Russia will continue to use all available legal instruments to bring those behind the explosions at the Nord Stream gas pipelines to responsibility, but the likelihood of this happening at international court bodies is slim, Deputy Chairman of the Russian Security Council Dmitry Medvedev said on Friday. “Naturally, we will continue to use all available legal instruments to hold those responsible accountable but the chances of doing that at international court bodies are negligible,”…

At least four Palestinian youths were shot and injured in al-Arroub refugee camp to the north of Hebron, including one seriously, as Israeli forces attacked Palestinians who rallied in support of Gaza and in condemnation of the Israeli aggression against it. Activist and journalist Sameeh al-Titi told WAFA Israeli army opened live fire directly at participants in the rally, shooting and injuring a youth in the abdomen and another in the foot. The condition of the youth who was shot in the abdomen was described as critical. Tens of others suffocated after inhaling the tear gas that was fired directly by…

Bahrainis march in the streets of Manama in support of Palestine and Gaza as “Israel” continues its aggression for the fourth day in a row. Scores of Bahrainis took to the streets in protest of the Israeli aggression on the Gaza Strip as they demonstrated in Western Manama affirming that the Bahraini people stand with the Palestinian people and its Resistance. The crowds marched in the streets surrounding the Imam Al-Sadiq Mosque in Diraz, as Bahrainis held banners displaying slogans in support of Palestine. The Israeli occupation continues its aggression against Gaza, as airstrikes hit residential areas on the fourth day…