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US Dollar Falls Amid US Inflation Revelations, Cuban Peso Depreciates in Informal Market
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The US Dollar fell on February 29 amid US inflation revelations, trading at $3,924. This week, several macroeconomic data came out in the United States, causing significant currency price fluctuations worldwide. In Colombia, the Dollar remained relatively stable and did not cross the $4,000 barrier. The inflation figure in the US for January decreased by 2.4% year-on-year, falling by 0.2% compared to December 2023. The Dollar closed at a price of $3,924 on the stock market, a decrease of $9 compared to the representative market rate. The highest price during the day was $3,943, while the lowest price recorded at the close was $3,923. The Dollar Index recorded a variation of 0.16% and is located above 104,075 units. The transaction volume of the currency for the day was 1,152.61 million. Th...
#newstr #UsDollar #Inflation #CurrencyPriceFluctuations #CubanCurrencyMarket #Cuba #UsEconomicSanctions #CubanPeso #InformalMarket
Global Markets Driven by Global Cues and FII Activity
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The global financial environment continues to be characterized as 'risk-averse', with both bonds and equities selling off. Concerns are rising over the S&P 500 chart, and any disappointment in mega-cap tech stock earnings this week could have a significant impact on broader equity markets. In the foreign exchange (FX) market, core rates are driving everything, including Central and Eastern European (CEE) currencies. Rates in the region are catching up with lagging core markets, leading to improving interest rate differentials across the board. Local rates have proven to be a key driver in recent weeks, and CEE FX is expected to continue benefiting from this trend.
This week, global equities closed higher, driven by dovish Fedspeak and Chinese stimulus hopes. European equities traded high...
#newstr #GlobalMarkets #StockMarkets #EquityIndices #TradingActivity #Volatility #DerivativesExpiry #TradingVolumes #MarketCues #Holi #GoodFriday #UsGdpData #BrentCrude #RupeedollarTrend
Simon Harris Elected as Ireland's Next Prime Minister and Leader of Fine Gael
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Luke Howarth has been appointed as the shadow assistant treasurer and shadow financial services minister in the new-look shadow ministry announced by Opposition Leader Peter Dutton. Howarth, who was first elected to the seat of Petrie in Queensland in 2013, has limited financial services experience but is praised for his understanding of small business. He previously served as assistant minister for community housing, homelessness, and community services, as well as assistant minister for youth and employment services. Howarth's background includes running a family-owned pest control business and holding certifications in pest management, judo, scuba diving, and business. The Financial Advice Association Australia (FAAA) and the Association of Independently Owned Financial Professionals (A...
#newstr #SimonHarris #FineGael #LeoVaradkar #Leadership #Politics #Ireland
Cherokee Nation Receives $2.5 Million DOT Grant for Bridge Project in Cherokee County
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The Cherokee Nation has been awarded a $2.5 million planning grant from the U.S. Department of Transportation (DOT) for a bridge project across the Illinois River in Cherokee County. The project aims to improve connectivity between Tahlequah and Welling. The grant funds will support the planning phase, which includes the construction of a new bridge and 5.6 miles of proposed road. The bridge will span from Willis Road in Tahlequah to East 790 Road in the Welling community. The planning phase, expected to take up to a year, will be funded by the grant. The Cherokee Nation has been actively involved in road and bridge construction projects, completing over 146 miles of roads and numerous bridges in the past three years. In 2023, the tribe completed 45 road and bridge projects, investing over...
#newstr #CherokeeNation #BridgeProject #TransportationInfrastructure #DotGrant
Fact-checking 'Shirley': Separating truth from fiction in the Regina King starrer
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Director Simon Callan Jones is hoping for positive word of mouth to save the movie 'Arthur the King' after it made $7.5 million in its opening weekend, below expectations . The film, based on the book 'Arthur: The Dog Who Crossed the Jungle to Find a Home' by Mikael Lindnord, is a feel-good tale about a dog and its found family. The protagonist, Michael Light, is a racer who is desperate for one last chance to win after an embarrassing loss in a previous Adventure Racing World Championship. During the race in the Dominican Republic, a stray dog named Arthur joins the team and becomes their companion. The movie focuses on the relationship between Arthur and his human team, redefining victory, loyalty, and friendship. Mark Wahlberg plays the role of Michael Light in the movie. The film inclu...
#newstr #ArthurTheKing #Shirley #ShirleyChisholm #Biopic #Netflix #Factchecking
US Monitoring BRICS Digital Currency Push Amid Dollar Decline
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Gold is outperforming the US dollar as countries move towards de-dollarization. The rise of gold prices can be attributed to weak US data and anticipation of potential interest rate cuts by the Federal Reserve. This has sparked a frenzy among the US economic strata, pushing the dollar to take a dip and bolstering gold's price momentum. The Bank of America has warned of a US dollar collapse, citing rising debt rates. Rising debt rates have led analysts to project how Bitcoin could have helped stabilize the US debt rates. Analyst Brian Krassenstien suggests that Bitcoin's rise against the US dollar could indicate a paradigm shift in global currency. Robert Kiyosaki predicts that Bitcoin will reach $300,000 soon. The article highlights the calls for de-dollarization and the use of gold as a d...
#newstr #UsDollar #Brics #DigitalCurrency #Dedollarization #Russia
US Federal Reserve Signals Three Rate Cuts, Bond Market Reflects Expectations
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The US Federal Reserve has decided to keep its interest rates unchanged in its recent policy meeting, according to a report from Philstar.com. The central bank released its new economic projections, which indicate that it expects fewer rate cuts between now and the end of 2026. While a majority of Fed policymakers anticipate three rate cuts in the remainder of 2024, they project fewer additional cuts in 2025 and 2026. Federal Reserve Chair Jerome Powell stated that the federal funds rate is likely at its peak and that rate cuts may be appropriate later this year .
The Fed's cautious approach reflects concerns about potential bumps in inflation. Powell acknowledged the uncertainty surrounding future inflation trends but emphasized that the central bank continues to make progress in bringin...
#newstr #UsFederalReserve #InterestRates #EconomicProjections #Inflation #UsEconomy #BondMarket #RateCuts
US Government Relaxes Emission Rules to Accommodate Slower EV Growth
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The Biden administration has announced new automobile emissions standards that aim to cut planet-warming emissions from passenger vehicles. The new rules, which relax initial tailpipe limits proposed last year, still set ambitious targets for reducing emissions. The Environmental Protection Agency (EPA) stated that the industry could meet the limits if 56% of new vehicle sales are electric by 2032, along with at least 13% plug-in hybrids or other partially electric cars, as well as more efficient gasoline-powered cars. The new standards are expected to avoid over 7 billion tons of carbon emissions over the next three decades and provide significant economic benefits. President Biden praised the progress made towards his goal of having half of all new cars and trucks sold in the U.S. be zer...
#newstr #UsGovernment #EmissionRules #EvGrowth #DepartmentOfEnergy #EnvironmentalProtectionAgency #Automakers #GaspoweredVehicles #CorporateAverageFuelEconomy #CafeStandards #EvMileageRatings #VehicleEmissionRequirements #EvSales #ConsumerAdoption #RegulatoryAdjustment #MajorAutomakers #Fines #GeneralMotors #Stellantis #Ford
Bangladesh's Dollar Reserve Crisis Blamed on Oil Companies by PM's Energy Adviser
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The Prime Minister's Energy Adviser Tawfiq-e-Elahi Chowdhury has attributed the dollar reserve crisis in Bangladesh to global oil companies, claiming that they have 'robbed Bangladesh of $14 billion in 3 years' . Speaking at a seminar on the ruling Awami League's economic manifesto, Tawfiq stated that the economic pressure on Bangladesh was triggered by the payment for fuel oil, which led to the devaluation of the taka against the dollar and a current account deficit . He further alleged that the West was using its stance on democracy, along with oil and the dollar, as a 'weapon' .
The mismanagement of the economy over a long period has led to the current crisis in foreign currency reserves in Bangladesh . Businesses are struggling to import raw materials and intermediate goods due to the...
#newstr #Bangladesh #Kenya #DollarReserveCrisis #OilCompanies #Energy
President Biden Signs $1.2 Trillion Funding Package, Averting Government Shutdown
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President Joe Biden has signed a $1.2 trillion budget bill into law, ensuring that the U.S. government remains funded and averting a partial shutdown. The bipartisan bill, which covers the fiscal year that began six months ago, aims to invest in the American people, strengthen the economy, and enhance national security. The signing of the bill was announced in a statement released by the White House. The bill was passed by the Senate earlier in the day, ending the threat of a government shutdown. The funding package includes funding for various departments and federal programs, such as Defense, Education, Health and Human Services, Homeland Security, Labor, State, and Treasury. It also includes earmarks for community project funding and addresses the crisis at the border by providing fundi...
#newstr #GovernmentSpending #BudgetBill #GovernmentShutdown #Ukraine
US President Biden Signs $1.2 Trillion Government Funding Bill That Bans UNRWA Funding
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The US Congress has passed a $1.2 trillion budget bill that includes several significant provisions. The bill includes a ban on funding for the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) until 2025 and stops funding for the UN Commission of Inquiry against Israel. Instead, the bill allocates funds to the annual US security commitment of $3.3 billion for Israel's weapon supplies. Israeli Foreign Minister Israel Katz praised the decision and called for more countries to follow suit. The bill also requires the UN and other international organizations funded in the bill to assess and report on attempts to combat anti-Israel bias. It withholds funds from the UN Human Rights Council for what it calls anti-Israel actions. The bill includes new terms on ...
#newstr #UsCongress #BudgetBill #UnrwaFunding #IsraelAid #UsPresidentBiden
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Experiments in Space Lead to Significant Progress in the Fight Against Cancer
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Members of the US Congress have signed a letter urging the reversal of budget cuts to NASA's Mars Sample Return (MSR) mission. The President's FY2024 Budget request initially included $949.3 million for the project, but the Senate appropriations bill proposed only $300 million for the program. As a result, NASA has instructed the Jet Propulsion Laboratory (JPL), which leads the MSR mission, to operate under the assumption of a $300 million budget .
The decision to proceed with budget cuts had already drawn criticism from several members of Congress, who sent a letter in November 2023 stating that such action was premature. The Senate appropriations bill warned that if NASA did not reduce the cost of the MSR mission to within the already budgeted $5.3 billion, the mission would face cancel...
#newstr #Nasa #SpaceResearch #CancerTreatment #WeightlessEnvironment #FrankRubio #JoeBiden
Penumbral Lunar Eclipse to Occur in the USA on March 25
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During the early morning hours of Monday, March 25, a penumbral lunar eclipse, also known as a full or partial lunar eclipse, will take place in the USA. This eclipse, referred to as the 'Worm Moon,' will cause the moon to move into the faint, outer part of Earth's shadow, known as the penumbra. As a result, the moon will appear slightly dimmer. The eclipse will be visible throughout the country, with the moon beginning to touch the penumbra shortly before 1 a.m. ET and reaching its maximum point around 3:12 a.m. ET. The penumbral eclipse will conclude around 5:30 a.m. ET. Unlike the penumbral eclipse, the upcoming total solar eclipse on April 8 will only be visible to those along the path of totality.
The lunar eclipse is expected to occur on March 25, 2024, and will be a penumbral lunar...
#newstr #PenumbralLunarEclipse #TotalSolarEclipse #CelestialEvents #Astronomy
US Rep Tim Burchett Calls for Economic Pressure to Secure Imran Khan's Release
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United States Representative Tim Burchett has called for using the superpower's economic might to secure the release of incarcerated former prime minister Imran Khan. Burchett made the statement in a video post on his social media platform X after attending a Foreign Affairs Committee meeting. He expressed frustration with the lack of action from the US State Department and called for a 'strong letter' to be sent to Pakistan. Burchett emphasized the need for economic pressure rather than military involvement, stating that if Pakistan becomes a detriment to the US, economic measures should be taken. He clarified that he did not advocate for sending troops. Burchett's call for economic pressure comes in response to questions raised by another US representative, Brad Sherman. The article conc...
#newstr #ImranKhan #UsRepresentative #TimBurchett #UsStateDepartment #Pakistan
Restoration of Red Lake's Tribal Boundaries Sparks Opposition and Concerns
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Jean Marie Torres, a member of the Red Lake Nation, passed away on December 5, 2023 . The Red Lake Nation has been taking steps to restore its tribal boundaries, which has led to opposition and concerns within the community. The article mentions several individuals involved in this process, including Victor Lawrence Roy Jr., John Henry Bobolink, Darryl Allen 'Boog' Fairbanks, Daniel 'Danny' Duane Goodman Sr., Delores Benais Fineday, Remi Leland Stately, and Tristan Collin Stately .
The restoration of Red Lake's tribal boundaries is a significant undertaking that has both cultural and legal implications. It involves reclaiming land that was lost or taken away from the tribe in the past. The process requires careful consideration and consultation with community members to ensure that it is ...
#newstr #RedLakeNation #TribalBoundaries #Opposition #Concerns #Sovereignty
Netflix to Stream Popular Anime Titles Including 'My Hero Academia', 'Jujutsu Kaisen', and 'One Piece Film Red'
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Netflix has announced that it will start streaming several popular anime titles, including 'My Hero Academia', 'Jujutsu Kaisen', and 'One Piece Film Red'. Users will be able to watch six titles on the streaming platform, which includes 'My Hero Academia' seasons 1 to 4, 'Jujutsu Kaisen' season 1, 'One Piece Film Red', 'Spy x Family' season 1, 'Haikyu!!!' seasons 1 to 4, and 'Black Clover' seasons 1 to 4. The first four seasons of 'My Hero Academia' will be available for streaming on Netflix starting from March 25. 'Black Clover' season 1 and 'Haikyu!!' season 1 will be released on April 1. Netflix also plans to expand its anime offerings by the end of 2024, catering to the growing demand for anime content. ...
#newstr #Netflix #Anime #MyHeroAcademia #JujutsuKaisen #OnePieceFilmRed
Areca Capital Wins Best Equity Malaysia Award for Seventh Consecutive Year
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The Aegis Value Fund, a Small-Cap Deep Value fund, underperformed its benchmark in the first half of 2023. The fund's performance was impacted by the strong performance of tech-focused stocks in the S&P 500. Additionally, the banking system experienced strains due to rising interest rates, resulting in bank failures and losses on investment portfolios. Despite these challenges, the Fund's top performer was Bank of Cyprus, which benefited from higher interest rates and reduced non-performing assets. The Fund has an annualized gross expense ratio of 1.48% and a net annualized expense ratio of 1.50%. The portfolio manager believes that energy stocks and precious metals mining equities are well positioned for strong returns. The manager also highlights the potential risks in the technology sec...
#newstr #Investment #Equity #ArecaCapital #LsegLipperFundAwards #Malaysia
Lagos State Introduces Monthly Rental Policy to Ease Hardship on Residents
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Real estate experts in Nigeria are highlighting the economic potential of housing as an investment and urging the government to drive the economy through the real estate sector. They emphasize the role of housing in job creation, income distribution, and poverty alleviation. The World Bank suggests that housing can be a macroeconomic development tool, boosting productivity and utilizing resources. With Nigeria's growing population, there is an increased demand for land, which has become a vital tool for generating revenue.
To maximize revenue and promote economic growth, the experts call for a review of land charges, enhanced access to land, and the enforcement of property taxation. They stress the importance of political will in implementing these measures. By harnessing the potential of...
#newstr #Nigeria #RealEstate #Housing #EconomicGrowth #Dubai #Reform #LagosState #MonthlyRentalPolicy