BSVC

UPDATE1 ECB says Bitcoin is artificially backed, should not be legitimized

UPDATE1 ECB says Bitcoin is artificially backed, should not be legitimized

FRANKFURT, Nov 30 (Reuters) – Bitcoin is artificially backed and should not be legitimized by regulators or financial firms as it is more akin to gambling, the European Central Bank said on Wednesday. Bitcoin and other cryptocurrencies have been variously touted as an alternative form of money and a shield against inflationary policies pursued by …

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ECB warns of losses as it pays the price for a decade of money printing

ECB warns of losses as it pays the price for a decade of money printing

FRANKFURT, Nov 29 (Reuters) – The European Central Bank warned on Tuesday it could suffer losses as high inflation forces it to raise interest rates and foot the bill for a decade of aggressive money printing . After raising interest rates to combat runaway prices, the ECB must pay huge interest to commercial banks on …

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Global oil market signals near-term weakness ahead of EU embargo on Russian oil

Global oil market signals near-term weakness ahead of EU embargo on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about falling demand for crude and a surplus market in the coming months. After months of strength, crude futures are flirting with all-year lows as major oil consumer China enters additional COVID-19-related lockdowns while central …

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Analysis: Egypt not off the hook after IMF bailout deal

Analysis: Egypt not off the hook after IMF bailout deal

The Egyptian pound is trading at 8% discount on the black market October’s $3 billion IMF deal helps rally bond prices Little demand so far for Treasuries or FDI, analysts say Egypt must repay $33.9 billion in external debt until mid-2025 CAIRO/LONDON, Nov 25 (Reuters) – Egyptian finances remain in a precarious state despite two …

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Turkey in final-stage talks for up to $10 billion in funding from Qatar - sources

Turkey in final-stage talks for up to $10 billion in funding from Qatar – sources

ANKARA, Nov 25 (Reuters) – Turkey and Qatar are in the final stages of Doha talks to provide up to $10 billion in funding to Ankara, including up to $3 billion by the end of this year, two senior Turkish officials and another source told Reuters. One of the officials said the full funding could …

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Global Regulators To Target Crypto Platforms After FTX Crash

Global Regulators To Target Crypto Platforms After FTX Crash

LONDON, Nov 24 (Reuters) – The crash of the FTX exchange has made regulation of the crypto sector more urgent and targeting these “conglomerate” platforms will be a focus for 2023, the new Chairman of IOSCO on Global Securities in an interview. Jean-Paul Servais said regulation of crypto platforms could draw inspiration from the principles …

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The Bank of England will raise its bank rate by 50 basis points in December, peaking at 4.25% in the first quarter (Reuters poll)

The Bank of England will raise its bank rate by 50 basis points in December, peaking at 4.25% in the first quarter (Reuters poll)

LONDON, Nov 23 (Reuters) – The Bank of England will continue to hike interest rates to fight inflation even as Britain heads into a long albeit shallow recession as consumers face a prolonged crisis in the cost of living, according to a Reuters poll of economists. . Finance Minister Jeremy Hunt announced more pain in …

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Spain to approve mortgage support for over a million households

Spain to approve mortgage support for over a million households

Measures support vulnerable families at the income threshold of 25,200 euros Threshold for middle-class customers set at 29,400 euros Measures include extending loan repayments for up to 7 years The actions also provide for grace periods and a freeze on repayments Plan to be finalized on Tuesday after discussions with the banks MADRID, Nov 21 …

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FTX Collapse Shows Need for Crypto Regulation, Says Bank of England

FTX Collapse Shows Need for Crypto Regulation, Says Bank of England

LONDON, Nov 21 (Reuters) – The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world into the regulatory framework, the Deputy Governor of the Bank of England said on Monday. Jon Cunliffe. FTX, which filed for protection in the US bankruptcy court, said it owed its 50 biggest creditors nearly $3.1 …

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