Author: Steven Sahiounie

LondonCNN —  The Bank of England hiked interest rates by a quarter of a percentage point Thursday, extending its long-running fight to rein in prices after a surprise increase in inflation in February. The central bank’s 11th consecutive rate hike takes benchmark borrowing costs to 4.25%, the highest since October 2008. Like other major central banks, it has pushed ahead with raising rates despite recent turmoil in the banking sector. The Bank of England said in a statement that since its last meeting in February, inflation “had surprised significantly on the upside and the near-term path of GDP was likely to be somewhat stronger than expected previously.” Employment growth had also been…

Washington, DC CNN — New home sales rose in February, climbing for the third month in a row as mortgage rates eased off their highs of the past year and buyers looked to new construction amid historically low inventory of existing homes for sale. Sales of newly constructed homes were up 1.1% in February from January, but fell 19% from a year ago, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. February’s month-over-month gain is further evidence that the housing market may be stabilizing. Sales of new single‐family houses were at…

While floor prices of the NFTs have surged since March 17, the Polymarket prediction contracts relating to the former U.S. President’s indictment have become some of the most actively traded on the platform. A set of non-fungible tokens (NFTs) related to former U.S. President Donald Trump have jumped over 30% in ether-denominated value over the past week amid a possible indictment and arrest of the former president. At the time of writing, the Polygon-based Trump Digital Trading Cards were selling for over 0.59 ether (ETH), rising from last week’s 0.33 ETH level. Over 735 Trump NFTs have been sold in…

The latest price moves in crypto markets in context for March 23, 2023. Top Stories The U.S. Securities and Exchange Commission issued a Wells notice to crypto exchange Coinbase (COIN), a step that may lead to the SEC suing Coinbase or taking other enforcement actions against it.Coinbase said the SEC alleged the U.S.-based company may be operating in violation of securities laws in the running of its exchange and providing staking services. Coinbase now has an opportunity to respond to the SEC and possibly reach a settlement with the agency. The SEC sued Justin Sun, founder of the Tron blockchain, on Wednesday on allegations that his…

Omani Minister of Economy Said bin Muhammad al Saqri, discussed with Syria’s Ambassador in Muscat, Idris Maya, the preparations for holding the 6th session of the Joint Governmental Committee between the two countries and means of enhancing prospects of bilateral economic cooperation. The Omani Minister stressed the Syrian-Omani firm and deep-rooted relations, stressing the importance of upgrading them in all domains, particularly in the economic field. Al-Saqri indicated the importance of holding the 6th session of the for the Joint Governmental Committee and the need of turning all the plans and agreements into executive work programs that serve the interests of the two…

Some remain upbeat about the medium-term outlook for bitcoin and the broader market. Bitcoin gradually moved to just under $28,000 on Thursday as traders digested the quarter-point interest rate raise Wednesday by U.S. Federal Open Market Committee (FOMC), in line with expectations. The decision reinforced the Federal Reserve’s concerns that inflation remains problematic and strong commitment “to returning inflation to our 2% objective.” Bitcoin slid under $27,000 immediately after FOMC as traders took profits on a 20% gain over a seven-day rolling period. However, traders of bitcoin-tracked futures took on over $150 million in losses amid the volatility, with billions in open…

Prime Minister, Eng. Hussein Arnous discussed with the Ambassador of the People’s Republic of China in Damascus, Shi Hongwei, means of strengthening bilateral relations in different fields and mechanisms of upgrading the level of economic, political and strategic relations that bind Syria and China. Both sides discussed Thursday, the importance of Syria’s participation in the “Belt and Road Initiative”, as well as increasing trade exchange and activating cooperation between the business sectors in the two countries to establish joint investment projects. Arnous stressed the importance of opening broader prospects for bilateral cooperation in all fields to serve the interests of…

Iranian Foreign Ministry Spokesman Nasser Kanaani expressed his concern over the recent burning of an elderly Muslim man in Birmingham, England, as he left a mosque. Kanaani wrote in a tweet that this act is a result of “systematic Islamophobia in the West, which leads to widespread hatred and violence.” He called on the British government to investigate thoroughly and release the results of their investigation. “The act of burning an elderly Muslim man in public in the streets of Birmingham, England, while he was leaving the mosque, is horrifying and shocking. Systematic Islamophobia in the West results in widespread…

European stock markets were lower Thursday as investors digested the latest interest rate hikes by the U.S. Federal Reserve and the Bank of England. The pan-European Stoxx 600 was down 0.6% in afternoon trade, slightly trimming losses after the U.K. central bank announced its widely-expected 25 basis point increase. The blue chip index had been trading lower through the morning. The banking sector continued to lead losses, down 1.7%. Banks rallied on Tuesday and through much of Wednesday’s session before closing 0.2% lower. Construction stocks were down 1.4% and financial services dropped 0.9%, though tech stocks bucked the trend to…

Iranian Foreign Minister Hossein Amirabdollahian said the country is ready to contribute to the resolution of the Ukrainian crisis. Amirabdollahian and his Swiss counterpart Ignazio Cassis held talks on the phone over the most important bilateral, regional and international issues. He thanked the top Swiss diplomat for congratulating him on Nowruz and the beginning of the holy month of Ramadan. He pointed to the good and historical ties between the Islamic Republic of Iran and the Swiss Confederation, announcing Tehran’s readiness for holding a third session of the joint commission of the two countries. While appreciating Switzerland’s efforts as the…