finances

WHO: $1.96 bln needed for new COVID-19 response plan

The World Health Organization (WHO) announced the launch of its "Strategic Preparedness and Response Plan 2021" for the COVID-19 pandemic that would require $1.96 billion in support from its member states. According …

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Biden cancels funding for Trump border wall

U.S. President Joe Biden has rescinded the national emergency order used to fund Donald Trump's border wall. In a letter to Congress on Thursday, Biden wrote that the order was "unwarranted" and said that no further tax …

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Bitcoin continues to soar with new all-time high

The price of Bitcoin gained 3.7% during the trading session reaching the highest level of $48,168, a fresh all-time high, according to the trading data. As of 11:11 am, the Bitcoin price equaled $47,800 (+2.91%). Tesla’s …

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Armenia's central bank raises refinancing rate

Armenia's Central Bank has decided today to raise the refinancing rate by 0.25% setting it at 5.5%. According to the press service of the regulator, the pawnshop repo rate provided by the Central Bank was 7%, and the rate on funds …

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Why Kazakhstan joined new investment partnership with Uzbekistan, US

The governments of Kazakhstan, Uzbekistan, and the United States have launched the Central Asia Investment Partnership under the umbrella of the C5+1 format, in order to promote private-sector growth and strengthen regional economic cooperation, The Diplomat writes in the article Why Kazakhstan Joined New Investment Partnership With Uzbekistan, US. The new initiative comes at a time when Kazakhstan is looking to diversify its economy to deal with the effects of the coronavirus pandemic and achieve its long-term goal of becoming one of the most developed nations by 2050

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Saudi Arabia names new central bank governor

Saudi Arabia’s king appointed Fahad al-Mubarak as central bank governor, his second stint in one of the most sensitive positions in the kingdom replacing Ahmed al-Kholifey, a decree carried on state media on Sunday said. Mubarak, …

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UK allows its ships to pay for service in Crimea

A historic event connected with the recognition of Crimea as Russian territory took place today in Great Britain: the Office of Financial Sanctions Implementation of HM Treasury canceled a ban on payments for ships under the British flag in …

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Bitcoin prices break through $36,000

Bitcoin prices rallied again today, surpassing the $36,000 price level as the cryptocurrency benefited from sustained momentum. The world’s most prominent digital currency climbed to as much as $36,461.69 at roughly 4 p.m. EST, …

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Turkey's second export train arrives in China

The second container train carrying freight from Turkey, consisting of 42 containers each 40 feet long, has arrived in China's Xi'an. The transportation, which plays a key role in rail freight between China and Europe, was …

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Georgian Parliament approves 2021 state budget

The Georgian Parliament has approved a state budget of 18.4 billion GEL for 2021 at an extraordinary session yesterday.  The state budget includes over 890 million GEL expenditures for quarantine, testing and …

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Russia's Central Bank retains key rate at 4.25%

At its last meeting this year, the Bank of Russia decided to once again retain the key rate at 4.25% per annum, according to the regulator’s press release. It indicates a more significant and lasting impact of one-off …

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IMF approves $113.9 mln to support Georgia amid pandemic

The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of Georgia’s economic reform programme supported by a four-year extended arrangement under Extended Fund Facility (EFF) and approved a disbursement of …

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Yandex to buy Tinkoff Bank

Russian technology company Yandex has negotiated acquisition of Tinkoff Bank with TCS Group, the parent company of the bank, TCS Group says in its statement at the London Stock Exchange. The transaction amount will be $5.48 bln or …

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Sberbank SEO expects ruble to strengthen at year end

Chief executive of Russia’s Sberbank German Gref said that the Russian ruble may strengthen at  60-62 rubles per dollar at year end. According to him, Russia's national currency is closely related to oil prices, but they …

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Russian banks receive record low net profit

Russian banks received a record low net profit of 500 million rubles in May, Russia's central bank chairwoman Elvira Nabiullina said at the State Duma. According to her, in January–May, banks earned a net profit …

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