Lira Plunges After Erdogan Appoints Co-CEO Of Failed First Republic Bank As New Central Bank Governor
The currency Lira has plunged after President of Turkey Erdogan appointed Hafize Gaye Erkan, the co-CEO of the failed First Republic Bank, as the new Central Bank Governor. Turkish President Erdogan, fresh from his re-election as president, has named Hafize Gaye Erkan as the new central bank head – and first ever female CBRT governor – replacing Sahap Kavcioglu in […]
Panama Canal Is Going Dry
Panama Canal is going dry as a severe drought has caused water levels in the lake that feeds the locks in the Panama Canal to drop far below normal. Federal Reserve Chair Jerome Powell keeps careful track of employment levels, wages, consumer prices and numerous other metrics to see where the US inflation rate may be headed in the next […]
‘Arctic Silk Road’ Comes Alive As Russia Sends First LNG Tanker To Asia This Year
The ‘Arctic Silk Road’ has come alive as Bloomberg ship-tracking data shows that Russia has sent the first LNG tanker, Fedor Litke, to Asia this year. This year, Russia shipped its first liquefied natural gas cargo via the Northern Sea Route (NSR) in the Arctic onboard the vessel Fedor Litke. The tanker was loaded at […]
Binance Sued For ‘Billions In Fraud’ By SEC
Binance is being sued by the SEC for ‘billions in fraud’ after allegedly working to subvert ‘their own controls’ to allow high-net-worth U.S. investors and customers to continue trading on Binance’s unregulated international exchange. The Securities and Exchange Commission filed 13 charges against Binance, the world’s largest crypto exchange, and its founder, Changpeng Zhao, alleging both comingled billions […]
BIS To Use AI To Monitor Global Bank Transactions For “Money Laundering”
The Bank for International Settlements (BIS) plans to use AI to monitor global bank transactions for potential instances of money laundering. The project, known as “Project Icebreaker,” focuses on developing a SWIFT-like bottleneck system that would enable global banks to regulate and potentially standardize all currencies. While the IMF is currently gearing up to introduce […]
BRICS Nations Say New Currency May Offer Shield From Sanctions
Naledi Pandor, South Africa’s Minister of International Relations, told reporters that the new currency created by BRICS nations may offer a shield from sanctions. BRICS nations asked the bloc’s specially created bank to provide guidance on a how a potential new shared currency might work, including how it could shield other member countries from the […]
Will Zimbabwe Pave The Way For Gold-Backed Money?
The Reserve Bank of Zimbabwe introduced a gold-backed digital currency that will be fully backed by physical gold held by the Bank. This move might pave the way for gold-backed money. Will gold rescue Zimbabwe from the ashes of economic despair and usher in a new economic era? Since Zimbabwe declared independence from the former […]
Elon Musk Gets Rock Star Treatment In China
Reuters reported that Elon Musk got rock star treatment in China, being greeted by top ministers from the Chinese government’s foreign affairs, commerce, and industry departments. Elon Musk received a 5-star welcome during a surprise trip to China as the nation heaped praise on the billionaire, holding him in the same high esteem as business magnate […]
Jeff Bezos To Sign Prenuptial Agreement With Girlfriend Lauren Sanchez To Protect 138 Billion Dollar Fortune
To protect his $138 billion fortune, Jeff Bezos wants to be extra cautious and will sign a prenuptial agreement with his girlfriend, Lauren Sanchez. Amazon co-founder Jeff Bezos is all set to get married to his girlfriend of five years, Lauren Sanchez. The duo got engaged in a lavish ceremony. At 59, Bezos is the […]
TikTok Creators’ Financial Info, Social Security Numbers Have Been Stored In China
Forbes has learned that the financial information and social security numbers of TikTok creators have been stored in China without their knowledge. Over the past several years, thousands of TikTok creators and businesses around the world have given the company sensitive financial information—including their social security numbers and tax IDs—so that they can be paid by […]