Finance & Economics
[ Engadget ] Crypto.com loses $34 million in hack that affected 483 accounts
In an interview with Bloomberg TV, Crypto.com’s Chief Executive Kris Marszalek has admitted that 400 customer accounts were compromised by hackers. He said his team detected unauthorized transactions made from the accounts, but that they’d fixed the issue immediately and fully reimbursed the affected users. Apparently, 483 accounts were affected and the unauthorized withdrawals totaled 4,836.26 ETH,…
Read MoreVenezuela finally got out of the hyperinflationary cycle into extremely high monthly inflation
After 12 months of consecutive inflation that is below 50%, some analyst / media started to declare that Venezuela is finally out of the hyperinflationary cycle. Venezuela came out of the hyperinflationary cycle in which it had been since 2017, accumulating 12 continuous months below 50% inflation, after registering 7.6% in December, the Bank reported…
Read MoreJokowi battles Indonesian Coal Producers
Thousands of permits for mining, coal and forestry were revoked as Indonesia’s President Joko Widodo battles coal producers over their failure to prioritize the domestic market, which sparked a ban on coal export. 2,078 permits for mining, mineral and coal businesses were revoked for the failure to provide work plans, misused the permits or transferred…
Read MoreIMF’s global financial system cyberattack wargame a signal of what is to come?
Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks. The simulated “war game”, as Israel’s Finance Ministry called it and planned over the past year, evolved over 10 days,…
Read MoreSingapore increases gold reserves by 20%, first increase in holding in decades
Singapore increased its gold reserves by about 20 per cent earlier this year in a largely under-the-radar move that saw holdings expand for the first time in decades. The purchases, which totaled about 26.3 tonnes, took place over May and June, according to data from the Monetary Authority of Singapore’s International Reserves and Foreign Currency…
Read More[ The Irrawaddy ] Myanmar Military’s Joint Venture Brewery to be Dissolved After Product Boycott
Source: https://www.irrawaddy.com/news/burma/myanmar-militarys-joint-venture-brewery-to-be-dissolved-after-product-boycott.html Myanmar Brewery Co, which once manufactured the best-selling beer brands in Myanmar, is to be dissolved. The company is a joint venture between Japanese beverage giant Kirin and the military-owned conglomerate Myanma Economic Holdings Public Co. Ltd (MEHL). On November 19, MEHL made an application to the Yangon Region Western District Court to…
Read MoreErdogan Becoming a Liability for Turkey
Last month Turkey made it into the grey list of the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog headquartered in Paris. Turkey now joins its close ally Pakistan in FATF’s crosshairs. Surprisingly Turkey becomes the largest economy to be included in this list. The FATF listing for Ankara comes on the…
Read More[ Taiwan News ] 32 countries to remove China from preferential tariff treatment on Dec. 1
China Customs says 32 countries will no longer provide preferential tariff treatment to the world’s largest exporter from Dec. 1, and an economic expert says labor-intensive businesses will bear the brunt of the development. According to a statement recently issued by the General Administration of Customs of China (GACC), 32 countries will remove China from…
Read More[ CNA ] Tougher competition but Singapore will take it in stride: PM Lee on G20’s corporate tax deal
“I think it is an effort by countries to come together to be able to have a united front in improving the bargaining position against companies which have very considerable pulling power,” he said. “I think I can understand what they are trying to do, but I think the dynamic will not fundamentally change and…
Read MoreFormer US President Trump launching new Social Media Network: TRUTH Social
Former US President, Donald J Trump finally made good on his promise to launch his own social media platform to compete against the Big Tech companies that had collectively censored and kick him off their respective platforms. Trump Media & Technology Group (TMTG) merged with Digital World Acquisition Corp. (NASDAQ: DWAC), to immediately fast track…
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