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Top European banker arrested in money-laundering probe

The head of Latvia’s central bank and member of the European Central Bank (ECB) governing council has been detained as part of a corruption investigation in the country. The arrest comes four days after the US Treasury accused Latvia’s third-largest lender of “institutionalized money laundering”. According to the US officials, Latvia’s ABLV bank had made money […]

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Saudi Arabia says European businesses are helping Iran finance terrorism

Riyadh has accused European firms doing business in Iran of enriching the country’s Islamic Revolutionary Guard Corps (IRGC) and therefore supporting its military activities in the Middle East. “We believe that a large percentage of the Iranian economy is controlled by the Revolutionary Guards and companies associated with the guards. And we believe that any […]

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Venezuela about to launch its ‘petro’ cryptocurrency

The pre-sale of the commodity-backed digital currency ‘petro,’ which has been announced by Venezuelan President Nicolas Maduro, is expected to start on Tuesday. The country hopes this will help to replenish its depleted budget. The new cryptocurrency will be limited to 100 million units, called the mene. The petro token will be backed by Venezuelan […]

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Saudi women no longer need male permission to start business

A major step of granting women in Saudi Arabia the right start their own businesses without the approval of a male relative has been announced by the kingdom’s Ministry of Commerce and Investment. “No need for a guardian’s permission. Saudi women are free to start their own business freely,” the ministry’s spokesperson Abdul Rahman Al-Hussein […]

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Bill Gates urges super wealthy to pay ‘significantly higher' taxes

One of the world’s richest men, Bill Gates, says he should pay more in taxes and urged the US authorities to require other billionaires to contribute “significantly higher” amounts. “I need to pay higher taxes. I’ve paid more taxes – over $ 10 billion – than anyone else, but the government should require the people […]

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Ethereum founder warns cryptocurrencies ‘could drop to near-zero at any time’

Virtual currencies are still a newcomer class in the world of assets and could drastically fall at any time, according to the founder of blockchain network Ethereum and the digital currency of the same name, Vitalik Buterin. “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time,” […]

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Polish central bank secretly funds Youtube videos attacking bitcoin – report

Poland’s central bank has admitted to paying for social media campaigns that attacked cryptocurrencies, according to a popular Polish business news website. The central bank of Poland (Narodowy Bank Polski) spent 91,000 zloty ($ 27,100) on the campaign with the money going to Google, Facebook and a Polish Youtube partner network called Gamellon, Money.pl reports. […]

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Switzerland embraces bitcoin & cryptocurrencies amid global crackdown

While financial regulators across the world are cracking down on bitcoin, Swiss Financial Market Supervisory Authority (FINMA) has decided to encourage digital currencies by issuing guidelines on initial coin offerings (ICOs). According to the regulator, Switzerland has recently seen a sharp growth in the number of upcoming ICOs planned to be launched in the country, […]

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Germans slowly getting over their cash addiction – Bundesbank

Most money spent in Germany last year is no longer in cash, according to the latest survey conducted by Bundesbank. It marks the first time that cash spending has dropped below half of the transactions. Read more The survey of about 2,000 people reveals that in 2017, cash only accounted for 47.6 percent of purchases […]

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