New Trump threat causes a dip in the Chinese stock market and currency; China claims to not bow to external pressures

New Trump threat causes a dip in the Chinese stock market and currency; China claims to not bow to external pressures

Washington: US President Donald Trump issued a formidable threat that if China does not sign a trade agreement now, it will face dire consequences from the year 2020. Intense repercussions of the threat issued by Trump were felt in China, and the stock markets and currency recorded a massive crash. While the effects of the […]

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World Bank and International Monetary Fund launch experimental Cryptocurrency

World Bank and International Monetary Fund launch experimental Cryptocurrency

Washington: The world is moving from currency to cryptocurrency. The economists are claiming that cryptocurrency will be the future of the world. Reports of some countries moving towards cryptocurrency, also have been published. It has also been revealed that leading financial institutions and banks are seriously considering the use of cryptocurrency. But now the World […]

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Russia and China increase purchase of gold, hint at considering gold-backed digital currency

Russia and China increase purchase of gold, hint at considering gold-backed digital currency

Moscow/Beijing: Russia and China, two of the leading economies of the world have increased their purchase of gold. In February, Russia purchased a whopping 31 tonnes of gold taking its gold reserves to 2,149 tonnes. At the same time, the Chinese central bank has been revealed to have bought gold for four successive months, to […]

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Increased use of local currency in the Russian sponsored ‘Eurasian Union’; success in countering the use of US dollar

Increased use of local currency in the Russian sponsored ‘Eurasian Union’; success in countering the use of US dollar

Moscow: Information has been received that the use of local currency bypassing the use of US dollar has increased in the Eurasian Union created with the Russian initiative. As per the information provided by Russia, 70% of the transactions in the first six months of 2018, by the members of the Eurasian Union were in […]

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RBI sets up a special ‘Cryptocurrency’ and ‘Blockchain’ technology research unit

RBI sets up a special ‘Cryptocurrency’ and ‘Blockchain’ technology research unit

New Delhi: The Reserve Bank of India has established an independent unit for research on Cryptocurrency, Blockchain and Artificial Intelligence. This particular unit is reportedly responsible not only for keeping an eye on the new emerging technologies of Cryptocurrency and Blockchain but also for drafting rules and regulations regarding the same. RBI has issued a […]

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Greece should quit the Euro and use Drachma as its currency, warns former Greek Finance Minister

Greece should quit the Euro and use Drachma as its currency, warns former Greek Finance Minister

Athens: The European lending agencies have converted Greece into a dead colony wherein Greeks will have to suffer pain and poverty for many years to come, accused former Finance Minister of Greece. At the same time, he warned that Greece should quit the Euro and start using the old Drachma currency. It was announced on […]

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Turkey currency crisis is a threat to the German economy, warns German finance ministry

Turkey currency crisis is a threat to the German economy, warns German finance ministry

Berlin: The sliding Turkish Lira is creating additional perils for the German economy, cautioned the German finance ministry. The value of the Turkish Lira has fallen by more than 50% against the US dollar, and the debt burden on the country also has increased. Germany being the country with the highest investments in Turkey will […]

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US imposes sanctions on Turkish officials over detention of Pastor, causes Turkish currency ‘Lira’ to slide

US imposes sanctions on Turkish officials over detention of Pastor, causes Turkish currency ‘Lira’ to slide

Washington/Ankara: Turkey’s involvement in the Syrian conflict and its cooperation with Russia has caused serious stress on its relations with the U.S. The U.S. has now declared sanctions on Turkish officials as the country failed to act on the detention of the U.S. pastor Andrew Brunson, despite requests from the U.S. The US Treasury Department […]

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The final verdict on crypto-currency scheduled on 11 September by Supreme Court

The final verdict on crypto-currency scheduled on 11 September by Supreme Court

New Delhi/ Mumbai: The Reserve Bank of India (RBI) had declared a complete ban on the virtual Currency, Cryptocurrency transactions in India. Until then, the Supreme Court has postponed the next hearing on the petition is scheduled on 11th September. Accordingly, the court will announce its final verdict on this petition. The RBI had banned […]

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East and southern African countries debate accepting Chinese Yuan as reserve currency at the conference in Zimbabwe

East and southern African countries debate accepting Chinese Yuan as reserve currency at the conference in Zimbabwe

Harare: Influence and scope of the Chinese Yuan which was accepted as a global ‘Reserve Currency’ by the International Monetary Fund two years ago, is on the rise. In an economic conference held in Africa on Monday, there were comprehensive discussions about officially accepting Yuan as a Reserve Currency. A few African countries including Angola, […]

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