Author: Steven Sahiounie

Nov 29 (Reuters) – Risk-sensitive sterling and euro rose on Tuesday against the weakening safe haven U.S. dollar amid hopes of a potential easing in China’s strict pandemic restrictions following an unprecedented episode of unrest in the country. News that China will speed up COVID-19 vaccinations for elderly people aiming to overcome a key stumbling block in efforts to ease unpopular “zero-COVID” curbs supported the yuan, while weakening the U.S. dollar against major currencies. “People are getting quite excited about some sort of reopening,” said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. The U.S. dollar, which…

The Minister for Finance is expected to ask the Cabinet today to approve a plan that would see restrictions on salary and variable pay for bankers working at lenders which were bailed out by the State eased. It is understood that the proposals include allowing banks to pay bonuses of up to €20,000 to their staff. Restrictions on non-pay benefits, such as private health insurance and childcare, would also be lifted. If approved the plans would also see the current salary cap of €500,000 removed from Bank of Ireland, which is no longer partially State owned. While the other bailed-out…

Vancouver, British Columbia–(Newsfile Corp. – November 28, 2022) – Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) (“Komo”), a premium plant-based food company, today reports financial results for the year ended July 31, 2022. “We began our fiscal year as a new brand with a mission to make plant-based meals a staple on every dinner table by sharing our love for feel-good food that connects the people to the planet. Thanks to the strength of our team and the love of Komo products, we were successful in achieving sales growth of 935 percent over last year,” says Komo…

Ahead of us lies one of the busiest weeks for economic reports we’ve seen in some time, which is also a couple weeks ahead of the next Federal Open Market Committee (FOMC) meeting on monetary policy mid-month. All of these new economic prints will be viewed through the prism of whether they are positive or negative for interest rate hikes mellowing from four-straight 75 basis-point (bps) raises. And there is enough data coming that, should most or all the numbers point the same direction, it should give us a clearer picture of what’s to come. Today we take it slow,…

Approximately 30.5 per cent of Canadian households are financially resilient enough to withstand a sudden financial setback, according to a 2021 report from Statistics Canada. Being financially resilient is far different from being financially independent, though. Today, I’ll explain what it means to be truly financially independent and share a handful of helpful tips on how to potentially achieve this. WHAT DOES IT MEAN TO BE FINANCIALLY INDEPENDENT? Financial freedom can mean different things to different people. When most people think of the term financial independence, they visualize a life of financial freedom without having to worry about how they’re going…

The levy will reportedly apply to excess revenues from surging fuel costs. Monday, citing a draft of the country’s 2023 budget. According to the report, it will be applied to the part of a company’s 2022 income which is found to be at least 10% higher than its average between 2018 and 2021. However, the tax will be capped at 25% of the value of each company’s net assets as of the end of 2021. Under the terms set out in the budget, it is expected that about 7,000 companies producing and selling natural gas, electricity, and petroleum products will…

EU price caps on Russian crude, China’s zero-Covid policy and OPEC production plans are weighing on the market. Brent crude was down $2.35, or 2.8%, to $81.36 per barrel as of 07:30 GMT. Earlier in the day, the global benchmark had reached $81.16, its lowest level since January 11. The US crude benchmark, West Texas Intermediate (WTI), had slumped by $2.23, or 2.9%, to $74.05 per barrel, its weakest mark since January 6. It briefly dropped to $73.82 intraday, its lowest since December of last year. Both benchmarks have posted three weekly declines in a row, with Brent slumping 4.6%…

Gazprom says it won’t reduce supplies to Moldova via Ukraine. Last week, Gazprom accused Ukraine of siphoning off transit supplies destined for Moldova and threatened to curtail exports through a key pipeline in response, starting on November 28. “Funds for gas intended for Moldovan consumers and held back on the territory of Ukraine have been received by Gazprom,” the Russian company stated, adding: “In this regard, it was decided not to reduce the gas supply to the Sudzha interconnection point for transit to Moldova.” At the same time, Gazprom said the Moldovan side regularly violates contractual obligations on payment for Russian gas,…

BlockFi has become the latest casualty following the collapse of the major cryptocurrency exchange. the collapse of major crypto exchange FTX. In the filing with the US Bankruptcy Court for the District of New Jersey, the company said it had more than 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion. “BlockFi looks forward to a transparent process that achieves the best outcome for all clients and other stakeholders,” stated Mark Renzi from Berkeley Research Group, which serves as BlockFi’s financial adviser. In June, the now-defunct FTX crypto exchange agreed to provide the company with a $400…

Such a move could help cut dependence on Western financial infrastructure, Izvestia reports. The Eurasian Economic Union (EEU) is interested in setting up a common payment system with BRICS nations, the newspaper Izvestia reported on Monday. The Russia-led free trade bloc aims to cut reliance on the Western monetary system. The EEU was founded as the Customs Union of Russia, Kazakhstan, and Belarus. It was established in 2015, and was later joined by Armenia and Kyrgyzstan. In 2016, Vietnam became a free trade partner with the EEU. The union is designed to ensure the free movement of goods, services, capital…