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(The Business Times)-15/05/2024SAUDI Arabia wants to avoid sending the economy into overdrive as it channels investments with the goal of pivoting the nation away from oil dependency.Finance Minister Mohammed Al-Jadaan said on Tuesday (May 14) that while his country’s massive investments are helping to grow the non-oil economy, the kingdom needs to be careful about […]

(Reuters)-15/05/2024The boss of the euro zone’s most valuable lender BNP Paribas (BNPP.PA), opens new tab on Tuesday played down expectations for a revival of M&A activity in European banking, saying the economics of cross-border and even some domestic deals rarely made sense.Jean-Laurent Bonnafe’s comments to BNP’s annual shareholder meeting comes after Spain’s BBVA (BBVA.MC), opens new tab last week launched a […]

(Coin Telegraph)-15/05/2024ChatGPT creator OpenAI has announced its latest AI model, GPT-4o, a chattier, more humanlike AI chatbot, which can interpret a user’s audio and video and respond in real time.A series of demos released by the firm shows GPT-4 Omni helping potential users with things like interview preparation — by making sure they look presentable for the […]

(Coin Telegraph)-15/05/2024Coinbase, the world’s second-largest exchange by trading volume, suffered a major outage on May 14.Coinbase announced a system-wide outage lasting three hours at 4:19 am UTC. The exchange eventually managed to fully recover by 7:34 am UTC, according to its status page.While the exact reason behind the outage remains unknown, Coinbase said it will continue investigating the […]

(Coin Telegraph)-15/05/2024Deutsche Bank, a German multinational investment bank, is collaborating with Singapore’s central bank on asset tokenization.Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian, which focuses on asset tokenization in wholesale funding markets and decentralized finance (DeFi) applications.As part of the collaboration, Deutsche Bank will test an open architecture and interoperable blockchain platform to […]

(Coin Telegraph)-15/05/2024Hayden Adams, the founder and CEO of decentralized exchange Uniswap, called on United States President Joe Biden to consider how voters think about crypto when they enter ballot boxes in November.In a May 12 X post, Adams claimed there was “not much time” for President Biden to change the perception many crypto-focused voters had of his […]

(Coin Telegraph)-15/05/2024Adopting a potential digital euro won’t displace the Swedish krona, Sweden’s central bank said.In a staff memo published Tuesday, the Sveriges Riksbank indicated it sees potential benefits for Sweden in the digital euro. It highlighted the possibility of a more robust and competitive payment system.The bank added that there may be a small shift away […]

(Bloomberg)-08/05/2024The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology said the country would divest from China if it were asked to do so by the US.“So far the requests have been to keep manufacturing and supply chains completely separate, but if the partnerships with China would become a problem for […]

(Reuters)-08/05/2024U.S. banks reported renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year, according to a Federal Reserve survey of senior loan officers published on Monday.Fed officials had the survey results in hand last week when they decided to keep the policy rate […]

(Coin Telegraph)-08/05/2024Bitcoin’s price rose above the $65,000 mark on May 6 as analysts argued that the post-halving “danger zone” may be over, with more BTC upside on the way.Bitcoin out of the post-halving “danger zone” — analystBitcoin’s post-halving danger zone is a three-week window after the halving, historically associated with downside volatility occurring below the reaccumulation range.With Bitcoin rising above […]

(Coin Telegraph)-08/05/2024Fintech company and global neobank Revolut has made a big move into the cryptocurrency sphere by quietly introducing a specialized crypto trading platform for retail customers in the United Kingdom.Revolut unveiled Revolut X on May 7, targeting a specific set of customers. The platform is designed to rival major cryptocurrency exchanges by offering easy […]

(Coin Telegraph)-08/05/20241-What is Bitcoin mining?Bitcoin mining is the network’s method of transaction validation. This process is also how new Bitcoin are added to the existing supply.There are currently around 19.5 million Bitcoin in circulation and the cryptocurrency is programmed to have a total supply of 21 million. The final 1.5 million or so are locked away, […]

(Coin Telegraph)-08/05/2024QCP Capital, a cryptocurrency options trading platform, received initial regulatory approval to operate in Abu Dhabi, becoming the latest prominent crypto firm to expand in the region.The digital asset options trading desk received in-principle approval for regulated digital asset activities from the Financial Services Regulatory Authority of Abu Dhabi Global Markets (ADGM), according to a May […]

(Coin Telegraph)-08/05/2024Central banks’ future depends on a revision of their business model and speedy adoption of central bank digital currencies (CBDCs), said Joachim Nagel, president of the Bundesbank and member of the European Central Bank (ECB).Nagel reportedly warned about the uncertainty surrounding central banks during a panel session at the Innovation Summit hosted by the Bank for […]

(Bloomberg)-02/05/2024Federal Reserve Chair Jerome Powell kept hopes alive for an interest-rate cut this year while acknowledging that a burst of inflation has reduced policymakers’ confidence that price pressures are ebbing.Powell, speaking to reporters Wednesday following the US central bank’s latest meeting in Washington, said price growth will likely resume cooling this year, but avoided offering […]

(Reuters)-02/05/2024Oil prices rose on Thursday, rebounding from three days of losses, on expectations the lower levels may prompt the U.S., the world’s biggest crude consumer, to start replenishing its strategic reserve, putting a floor under prices.Still, prices fell more than 3% on Wednesday to a seven-week after the U.S. Federal Reserve kept interest rates steady, […]