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Economics News

A collection of 554 issues

China has increased its purchases of Russian oil

China has increased its purchases of oil from Russia, Bloomberg reported citing Energy Aspects. At least three supertankers carrying Russian Urals crude, which was bought by state oil and gas companies PetroChina Co. and CNOOC, are on their way to China. Sinopec. According to analysts, they may increase their purchases

Meta will release a new version of the Horizon Worlds meta-universe

Zuckerberg's company is preparing an updated version of its Horizon Worlds meta-universe, the Wall Street Journal reports. The updated meta-universe will be aimed at teens between the ages of 13 and 18. The developers are now working on the design of the virtual world. To interact with the

National Bank of Moldova cuts base rate to 17%

The Executive Committee of the National Bank of Moldova (NBM) today decided to reduce the base rate from 20% to 17%, NBM Governor Octavian Armasu told reporters after the meeting. Also, the National Bank cut the rate on overnight deposits from 18 per cent to 15 per cent and the

There is one "whale" behind the manipulation of the BTC price: the opinion of a finance professor

Professor John Griffin noticed back in 2017 that the price of bitcoin appeared to be backed by one "whale", and now he is seeing similar "red flags", Business Insider writes. The economics professor at the McComb School of Business at the University of Texas believes something

Tesla records $140 million loss in BTC

Electric car maker Tesla has reported its losses in bitcoins last year. This is according to documents that the company filed with the SEC on January 31. The gross loss in BTC was $204 million, which should be subtracted from the $64 million profit from the sale of the cryptocurrency

Hong Kong to introduce licensing for steblecoins

Hong Kong plans to introduce licences for stabilecoin issuers this year. The local regulator, The Hong Kong Monetary Authority (HKMA), made the announcement. Companies that want to operate in the market will have to file paperwork for their services. The HKMA will take control of all phases of the stablcoin

European economy avoids recession

The eurozone economy grew by 0.1% in the fourth quarter of 2022. Preliminary data from Eurostat showed this, CNBC reported. "The preliminary Eurozone GDP report shows that economic growth slowed again in the fourth quarter, but did not fall immediately, contrary to reports from business surveys," commented

China begins imposing 20% tax on crypto investors and miners

Some regional authorities in China have started to impose a 20% income tax on cryptocurrencies, reports journalist Colin Wu. The deductions are to be paid by: * miners; * Individuals who make profits from crypto-investments; * companies that conduct transactions with crypto-assets; * investors.

Azerbaijan and Egypt sign package of documents aimed at expanding cooperation

Azerbaijan and Egypt have today signed a package of documents aimed at expanding bilateral cooperation. The documents were signed following talks between the presidents of Azerbaijan and Egypt in Baku. In particular, they signed memorandums of understanding: on cooperation in the field of water resources management; on cooperation between the

Swiss bank tokenises its own shares

Swiss bank Cité Gestion, in cooperation with Taurus, has tokenised its shares, making it the first private bank to do so.