News
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IMF Suggests That The Restrictions on Bitcoin Intercept Any Risk of a Speculative Market for El Salvador
Following a recent visit, the IMF has advised El Salvador to “reconsider” its intentions for using Bitcoin. Due to the “speculative nature” of the cryptocurrency markets, the worldwide monetary audit organization has recommended El Salvador to be cautious when increasing government exposure to them. The International Monetary Fund (IMF) stressed in a statement on February 10 that El Salvador’s usage of Bitcoin is “limited” and as a result, the dangers…
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Total Budget Deficit is Rising in The US as It Reaches Nearly a 460 Billion Dollars in January
In January, the US federal government’s budget deficit was $39 billion due to declining receipts and rising spending. The January budget balance report was made public by the US Treasury Department. Accordingly, the federal government’s budget deficit was estimated to reach $39 billion in January of the fiscal year 2023, which began on October 1, 2022, and would finish on September 30, 2023. In the same month last year, the…
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Russia Started Selling Gold To Close The Budget Deficit
Russia sky-high budget deficit has caused it to liquidate a portion of its gold reserves and foreign exchange, as income from oil and gas sales dwindles. To close Russia’s billion-dollar national budget hole, authorities took decisive action in January to tap into their gold and currency reserves. Russia Sells Gold and Yuan to Close Trade Deficit In accordance with the Tass Russian news agency, Russia’s Ministry of Finance issued a statement…
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A First In The History After the Earthquake: All Transactions On The Stock Market On February 8 Are Cancelled
The Turkish stock exchange, Borsa Istanbul, faced controversy for remaining open after the devastating earthquake centred in Kahramanmaraş, which resulted in heavy losses. As a result, the exchange has been closed and all transactions made on February 8th have been cancelled. The stock market will remain inactive for the next five working days, a decision that is a first in the history of the Republic. As Turkey was hit by…
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US Sanctions on China Hurt US Chip Makers, Too
The United States – China trade war, which has grown more heated during the Trump administration, is still ongoing. While the US keeps enforcing strict sanctions on China‘s chip and supercomputer industry, it is now beginning to impose similar restrictions against Japan and Netherlands. The Semiconductor Industry Association (SIA), a body representing almost all of America’s chip manufacturers, forewarns that such actions could prove damaging for both sides. The Embargo…
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Discount Decision From Ford After Tesla: The Price of Mustang Mach-E Has Dropped
In response to the intensifying competition in electric cars, Tesla shifted their pricing policy recently. With Elon Musk at its helm, the company decreased prices by thousands of dollars after experiencing a decline in vehicle availability. Recently, the American automaker Ford made headlines with their announcement that the Mustang Mach-E has seen a dramatic price decrease in the US. This reveal follows an increase in this model’s prices back in…
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Rapidly Increasing Space Debris May Prevent Us from Finding Other Possible Civilizations
Despite its swift development, space exploration also brings a hefty challenge: Space debris. These are objects that were sent into orbit but no longer perform any useful purpose. The danger they pose is growing by the day; in fact, research shows there are more than 670 thousand pieces larger than 1 cm currently floating around! Astronomers are warning that the sky may become so congested with space debris and active…
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The “7 Geopolitical Scourges” of the Global Economy
National Westminister Bank PLC (NatWest), the world-famous British investment bank, listed the geopolitical problems of the global economy in its 2023 economic forecast report, unlike other investment banks. In its report, NatWest drew attention to 7 countries that could strain the global economy. Undoubtedly, Russia and Ukraine lead these countries. Russia Is, As Expected, The Biggest Threat To The Economy. Since the initiation of Russian occupation on February 24, 2022,…
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Survive Stock Market and Economic Crises with These Five Tips
The US Federal Reserve has had to step in due to the Ukraine war and coronavirus pandemic, resulting in inflation hitting its highest point of 40 years. Therefore, stock consumption increased. This month, they have implemented a turnaround on interest rates multiple times and initiated tighter monetary policy. Yet this tightrope act must be carefully balanced as higher interest can reduce inflation and slow economic growth, further fuelling recessionary fears…
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Shared Currency Steps from Russia
While on his African tour, Russia ‘s Foreign Minister Sergey Lavrov addressed the press in Angola with a noteworthy announcement. Russian Foreign Minister Sergei Lavrov highlighted the “increasing need for a shared currency, as discussed within BRICS, with initiatives to create currencies in Latin American and Caribbean countries. As these discussions come closer to fruition, they will certainly be decided on at the end of August when South Africa hosts…
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