Author: IA PressRoom

© Reuters. FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: “Bank of Russia”. REUTERS/Maxim Shemetov By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Pressure on foreign banks operating in Russia and the widening scope of sanctions is aggravating foreign currency settlements in Russia and creating periodic imbalances on the domestic market, the central bank said on Friday. Western sanctions on Moscow over its actions in Ukraine have curbed its use of dollars and euros, with settlements in currencies Russia considers “friendly” – those of countries that…

The cryptocurrency industry witnessed another massive security attack, with Jimbos, an Arbitrum-based protocol, being the latest victim. The suspected hack breached the liquidity protocol, resulting in enormous losses of around 4,000 Ethereum (ETH), worth around $7.5M. The jimbos protocol, the Arbitrum liquidity protocol, was suspected of being attacked and more than 4,000 ETH (approximately $7.5 million) was stolen. PeckShield: This hack is due to the lack of slippage control of liquidity-shifting operation — such that the protocol-owned…— Wu Blockchain (@WuBlockchain) May 28, 2023 Meanwhile, blockchain security company PeckShield highlighted the exploit, revealing crucial protocol weaknesses. The firm tweeted that the…

ssuaphoto/iStock via Getty Images Tensions are rising between Saudi Arabia and Russia, as Russia continues to pump huge volumes of cheaper crude oil into the market and undermining Saudi efforts to boost prices, The Wall Street Journal reported Saturday. Saudi Arabia reportedly has expressed its anger to Russia for not keeping its previous pledge to curb production in response to Western sanctions, ahead of a crucial OPEC+ meeting set for Vienna on June 4. Earlier this week, the Saudi energy minister issued a warning to oil speculators, signaling to the market that a further production cut was possible, but Russia’s…

Washington — Negotiators for President Biden and Republican congressional leaders on Saturday night reached an 11th-hour agreement in principle to raise the debt ceiling. Both sides came to the tentative agreement after weeks of delays that rattled markets and raised fears about a catastrophic default.Mr. Biden and McCarthy had spoken by phone earlier Saturday evening after hours of marathon negotiations.     In a statement, Mr. Biden said the deal “protects my and Congressional Democrats’ key priorities and legislative accomplishments,” adding that it “represents a compromise, which means not everyone gets what they want. That’s the responsibility of governing.” McCarthy had…

MUENCHEN, GERMANY – MARCH 30: (BILD ZEITUNG OUT) The Abercrombie & Fitsch Logo is seen next to the … [+] front door of the Abercrombie & Fitsch store on March 30, 2020 in Muenchen, Germany. (Photo by Roland Krivec/DeFodi Images via Getty Images)Getty Images In April, Bed Bath & Beyond (BBBY) filed for bankruptcy after a botched merchandising makeover. More retail bankruptcies could be ahead, noted the New York Times NYT . Given the low unemployment rate and continued growth in consumer spending, investors must distinguish the retail winners from the losers. After reporting first quarter results, two things separate…

MELBOURNE, AUSTRALIA – OCTOBER 10: Miley Cyrus throws money in the air as she performs at the … [+] opening night of her Bangerz Tour in Australia at Rod Laver Arena on October 10, 2014 in Melbourne, Australia. (Photo by Scott Barbour/Getty Images)Getty Images Generation Z consists of individuals born between the mid-1990s to the early 2010s. As this generation enters the workforce and becomes financially independent, they are making money mistakes that could have long-term consequences. These are 5 big money mistakes Gen Z is making: 1) Not Saving Enough According to a recent survey conducted by GoBankingRates, 61%…

India’s biggest homegrown alternative investment manager is pushing beyond real estate and distressed assets into private credit, hoping to get ahead of a wave of investment from private capital and pension funds in the fast-growing economy.Mumbai-based Kotak is the biggest Indian player in the country’s nascent alternative asset management industry. Having made its name in real estate funds, it now sees some of the best opportunities in lending directly to companies. “The nature of opportunities now is going to be more M&A, growth-oriented financing,” said Srini Sriniwasan, managing director of Kotak Investment Advisors, an arm of Kotak Mahindra Bank that…

© Reuters. FILE PHOTO: Flags of U.S. and China are seen in this illustration picture taken August 2, 2022. REUTERS/Florence Lo/Illustration/Files By David Lawder DETROIT (Reuters) – The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any “breakthrough” in U.S.-China trade relations, Deputy U.S. Trade Representative Sarah Bianchi told Reuters. The Biden administration is not assuming any such breakthrough will happen, but will continue dialogue with China at various levels, Bianchi said in an interview on Saturday as a ministerial meeting of…

Cryptocurrency prices appear lucrative on Saturday as Bitcoin and alts turn green. However, Ripple (XRP) stole the show as far as price actions in the top ten cryptos are concerned. The remittance token surged around 2% over the last day. Meanwhile, accumulation by large wallet holders contributes to XRP’s enhanced sentiment. XRP traded at 1.77% up during this writing, changing hands at $0.4726 with a $24.5B market capitalization. Moreover, cryptocurrency whales have turned bullish over XRP within the past few weeks. They have scooped 52 million tokens worth around $22.9 million (over the past three weeks). Meanwhile, Ripple continues to…

© Reuters. General view of the U.S. Capitol after U.S. House Speaker Kevin McCarthy (R-CA) reached a tentative deal with President Joe Biden to raise the United States’ debt ceiling and avoid a catastrophic default, in Washington, U.S. May 27, 2023. REUTERS/Nathan H By Shankar Ramakrishnan, Davide Barbuscia, Saeed Azhar and Laura Matthews (Reuters) – Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government’s $31.4…