UK granted him licenses so he could bypass sanctions and cover his legal costs. Case was dismissed when he admitted connections to infamous private army, Wagner. UK granted him special licenses so he could bypass penalties and cover his legal costs. The method that permitted the leader of Russia’s Wagner organization to circumvent UK sanctions … Read more
Chancellor of the Exchequer to assert that his plan “protects our long-term economic prosperity”. The package is expected to cost £54 billion ($64 billion), Treasury estimates. It comes as UK inflation hits a 41-year high above 11 percent. Britain is scheduled to announce heavy tax increases and budget cuts on Thursday, which could exacerbate the … Read more
Markets are on high alert for any signs of intervention by central banks. The U.S. dollar index rose 0.05% to 113.04, following an almost 1% increase overnight. The yen has been on a losing streak for 11 consecutive sessions. The dollar loomed over its major rivals on Thursday, as Treasury yields reached multi-year highs and … Read more
Michael Barr was confirmed by a vote of 66-28. Barr fills the last vacancy on the Fed’s seven-member board. The Fed has been without a point person on regulation since Randal Quarles left. Michael Barr, a previous authority at the U.S. Depository, won Senate affirmation Wednesday as the Federal Reserve’s top Wall Street controller, a … Read more
Traders challenge the Federal Reserve’s projections for how far it will tighten monetary policy. At issue is the expected high-water mark for the Fed’s rate-hiking cycle. That number has fluctuated over the last several weeks, ramping up Treasury market volatility. Money markets now reflect expectations of rates topping out at nearly 3.6% by next March. … Read more
US Treasury Secretary Janet Yellen this week will name on her opposite numbers to ramp up the monetary pain on Moscow over its invasion of Ukraine, a senior Treasury legit stated Monday. Yellen will participate within the spring conferences of the IMF and World Bank, as well as gatherings of finance officers from the G7 … Read more
JOHANNESBURG: The World Bank has approved a $750-million (660-million-euro) loan to support South Africa’s Covid response and to bolster the economic recovery from the pandemic, the Treasury said on Friday. In a statement, the Treasury said the loan aims at “protecting the poor and vulnerable from the adverse socioeconomic impacts of the pandemic and supporting … Read more
MOSCOW: Saudi Arabia’s holdings of US Treasury securities recorded slight change in September, Arab News reported. The total value of the securities held by Saudi residents stood at $124.3 billion as of the end of September, up 0.2 percent from $124.1 billion in August, according to the latest data from the US Department of Treasury. … Read more
Airlines in US has asked the national Treasury to move quickly to release up to $58 billion in government grants and loans and recommended a formula to divide up the money. Reuters reported that Airlines in US wrote in a letter that “given the urgent and immediate need, it is essential that these funds be disbursed … Read more
