Six more countries join INSTEX
At present, it is rather difficult to carry out money transactions in some Asian countries because of particular geopolitical factors. However, six European countries have come to a joint decision that suits both Iran and governments of such countries as France, Germany, and the UK.
Paris, London, and Berlin welcomed six new European countries to the INSTEX barter mechanism. It is notable that France, Germany, and the UK are founders of this financial instrument. The project was launched at the beginning of the year as a response to the US sanctions imposed on Iran in order to stop oil exports from the Islamic republic. Belgium, Denmark, Finland, the Netherlands, Norway, and Sweden are also ready to join INSTEX.
Moreover, governments of the countries emphasized the importance of implementation of Iran’s nuclear program known as the Joint Comprehensive Plan of Action. Earlier, the US also supported the agreement but then changed its decision. INSTEX is located in Paris and functions as a clearing house allowing Iran to sell oil and other products.
Experts suppose that INSTEX is an instrument of a high risk as the US threatens to impose sanctions on all countries that cooperate with Iran.
US Fed assess risks and benefits of CBDC
The US Fed is about to launch its digital currency. The regulator has already entered the final stage of solving the issue. The US is doing its best to keep up with China that is already introducing digital currencies in four local banks.Washington is completely ready to create its own digital currency. At the moment, the US economists are assessing potential benefits and risks.
13:43 2020-10-30 UTC+00
Sweden bans Huawei from 5G telecoms networks
Chinese spy company Huawei is still suffering from its criminal activities. The company has destroyed its reputation and continues losing clients. The fact is that the producer of electronic equipment is said to cooperate with the Chinese intelligence services.Sweden has banned equipment from Chinese telecommunication firms Huawei and ZTE from its new 5G network.
13:41 2020-10-30 UTC+00
Japan’s exports fall prey to coronavirus
The coronavirus crisis is consuming one economy after another. Now it is Japan’s turn to suffer a crushing defeat in the economic fight against the pandemic consequences. Business activity in Japan has hit a record low, and exports have been incurring massive losses.
07:06 2020-10-30 UTC+00
Justice Department sues Google over illegal monopoly
The US authorities have issued an antitrust lawsuit against Google because the company appears to be incredibly popular among ordinary users. According to the Justice Department, Google is "unlawfully maintaining monopolies in the markets for general search services, search advertising, and general search text advertising in the United States.
06:58 2020-10-30 UTC+00
Ten businesspersons who increase their capital during Trump’s tenure
According to Forbes, Donald Trump’s presidency turned out to be a smashing success for US billionaires who managed to ramp up their capitals significantly after his election. Their total wealth was $2.9 trillion the day Trump was elected and in 2020 it amounted to almost $1 trillion.The ten famous tycoons have been able to boost their income the most since Trump won the presidency.
05:39 2020-10-30 UTC+00
British retail sales climb for fifth month in row
According to the data provided by the UK’s Office for National Statistics, in September 2020, retail sales showed a significant rise. The data greatly exceeded the forecasts.The ONS noted that in September, retail sales advanced by 1.5% in contrast to August. On a yearly basis, the indicator jumped by 4.7%.Trading Economics emphasized that analysts had expected a rise of 0.
05:21 2020-10-30 UTC+00