Author: Steven Sahiounie

Paris will boost state’s tax take with more anti-fraud operations and tighter controls on corporate majors and multinationals The French government is planning to increase enforcement of taxation controls and to toughen penalties for tax evasion, with a fresh focus on combating major fraud, according to the Minister of Public Action and Accounts Gabriel Attal. The minister noted that the number of inspections of the country’s biggest businesses would be increased by 25% by the end of the second presidential term of Emmanuel Macron in 2027. According to Attal, the efforts would be focused on the “high end of the spectrum,…

The Russian Central Bank stated that the country’s international reserves increased by 0.32% by May 1 compared to their level last April, amounting to $595.787 billion. The Bank of Russia (the Russian regulator) indicated that reserves rose by $1.908 billion, or 0.32%. For comparison, last year’s reserves were on May 1 at $593.052 billion. Russia’s international reserves are highly liquid foreign assets that include foreign exchange, gold and special drawing rights. This article was originally published by RT.

Bitcoin (BTC) rose to $28,153 on Wednesday, May 10, after the latest consumer price index (CPI) report showed that US inflation fell more than expected in April. The world’s biggest crypto coin jumped more than 1.5% from $27,690 and added over $10 billion to its market worth in just a few minutes as crypto investors welcomed the fact that inflationary pressures continued to ease last month, driving expectations of the Federal Reserve’s pause in its policy tightening campaign. According to the Bureau of Labor Statistics (BLS), annual inflation fell to 4.9% in April, compared to economists’ expectations of 5%. Month-on-month,…

Pepe Coin price has entered the top 10 cryptocurrencies by 24-hour trading volume, with CoinGecko data currently putting it eighth overall, ahead of BNB but behind Binance USD (BUSD). Despite its impressive rise, PEPE is currently down by 2% in the past 24 hours, although its price of $0.00000192 represents a 70% gain in a week and a 650% increase in the past fortnight. As meme-y as it seemed when it first appeared in the market, the ability of PEPE to maintain and build on its early momentum suggests that it has now become an established meme token, with its volume far…

Two prominent market-making firms Jane Street Group and Jump Crypto are cutting back their digital asset trading activities in the US due to heightened regulatory pressure. Jane Street is also scaling back its global crypto ambitions due to regulatory uncertainty, which makes it difficult for the company to operate in a way that meets regulatory standards in the US, Bloomberg reported Wednesday, citing people familiar with the matter. While both firms are still actively making markets in cryptocurrencies, they are doing so on a smaller scale than before. The duo does not plan to abandon crypto completely. Scrutiny of the digital asset…

As we delve into Bitcoin price predictions, the forthcoming Consumer Price Index (CPI) report looms large, raising questions about its potential impact on the cryptocurrency market.  This key economic indicator has historically influenced market trends, but what can we specifically anticipate for Bitcoin in this scenario? This Bitcoin price prediction will explore the potential outcomes and how they could shape Bitcoin’s price trajectory in the near future. US Core Inflation Rate In Focus The Consumer Price Index (CPI) reports a 5.0% year-over-year increase in US consumer prices in March 2023, at a seasonally adjusted annual rate of 301.836.  The market had anticipated a higher…

The Central Bank of Syria, in its bulletin on customs and aviation, amended the price of the dollar (customs) to become 6,500 pounds instead of 4,000 pounds, with an increase of 34 percent. The Central Bank, in its penultimate bulletin (Customs and Aviation), determined the price of the dollar at 4 thousand pounds and specified the time period in force from 1-15 of this month, but with yesterday, May 9, 2023, it modified (raised) the price of the dollar in the bulletin, which raised a state of fear of A new wave of price hikes that we are on the…

Wall Street is betting the Federal Reserve will reverse course and begin slashing interest rates as soon as this summer. Billionaire David Rubenstein is warning that would be a mistake. “It’s premature to have rate cuts this summer,” Rubenstein, the co-founder and co-chairman of The Carlyle Group, told CNN on Monday. “The Fed has said its target is 2% inflation. There’s no way in the world you get to 2% this summer. The Fed will look silly if it declares victory at 4%,” said Rubenstein. After spiking to a four-decade high of 9.1% last year, inflation has cooled off considerably. But…

Dire warnings about the economic chaos and catastrophe that will ensue if the US debt ceiling isn’t lifted soon abound. Still, markets remain rather sanguine about the Washington drama. Don’t expect that to last much longer. Analysts say Wall Street has identified its own X-date in late May, and if there is no major movement in Congress by then, they expect some major market volatility. What’s going on: The United States is running out of money, and if Congress doesn’t act to raise or suspend its self-imposed borrowing limit, the country could soon default on its bills. That’s a really big deal.…

U.S. Treasury yields were mixed Wednesday as investors braced themselves for fresh inflation data which could inform the Federal Reserve’s monetary policy. The yield on the 2-year Treasury yield was up by 2.3 basis points to 4.047%. Longer-dated yields dipped, with the 10-year Treasury down by 1 basis point to 3.503% and the yield on the 30-year Treasury trading at 3.814%. Yields and prices move in opposite directions and one basis point is equivalent to 0.01%. Investors awaited the release of April’s consumer price index report, due Wednesday. Economists surveyed by Dow Jones are expecting the CPI print to reflect a 0.4% increase from March and…