Putin's wartime central banker tells him what he doesn't want to hear
Submitted by admin on Fri, 2024-06-07 10:26 Section: Daily DispatchesFrom Bloomberg News
via Yahoo News, Sunnyvale, California
Friday, June 7, 2024
Russian President Vladimir Putin has cycled through ministers and battlefield generals since he first invaded Ukraine a decade ago. Through it all, one constant has been Elvira Nabiullina, a central bank governor he can't do without.
Her bond with Putin, and whether it can endure for longer, may well come to define the economy that emerges from the largest armed conflict in Europe since World War II.
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DR Congo seeks to advance national currency over U.S. dollar
Submitted by admin on Fri, 2024-06-07 10:11 Section: Daily DispatchesFrom AfricaNews.com, Lyon, France
Thursday, June 6, 2024
The Central Bank of Congo has mandated that all electronic payment terminals in the Democratic Republic of Congo accept only Congolese francs. This move aims to boost the use of the national currency and reduce reliance on the U.S. dollar, which weakens the franc.
Gold drops as jobs data dashes Fed rate-cut hopes, China pauses buying
Submitted by admin on Fri, 2024-06-07 09:55 Section: Daily DispatchesYvonne Yue Li and Sybilla Gross
Bloomberg News
via Yahoo News, Sunnyvale, California
Friday, June 7, 2024
Gold fell the most since April as surprise strength in a key U.S. jobs report dashed hopes that the Federal Reserve will be able to start lowering borrowing costs soon.
Billion slumped as much as 2.6% while Treasury yields and the dollar surged after the U.S. government's May employment report showed job growth exceeded expectations and wages were hot.
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LBMA reviews gold purity concerns about Indonesian state miner
Submitted by admin on Thu, 2024-06-06 10:03 Section: Daily DispatchesBy Swati Verma and Fransiska Nangoy
Reuters
Thursday, June 6, 2024
The London Bullion Market Association said it is reviewing allegations involving Indonesian state miner Aneka Tambang over the purity of its gold products.
Indonesia's attorney general's office has named six former general managers at Antam's precious metal processing and refining business unit as suspects for alleged misuse of Antam's stamping service.
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Nigeria moves to develop its gold resources
Submitted by admin on Thu, 2024-06-06 09:55 Section: Daily DispatchesGold Reserve Industry Bill Passes Second Reading
By Dirisu Yakubu
The Punch, Lagos
Wednesday, June 5, 2024
The Senate on Wednesday passed for a second reading a bill for an act to make provision for Nigeria's gold reserve industry.
Sponsored by the lawmaker representing Kogi Central on the platform of the Peoples Democratic Party, Natasha Akpoti-Uduaghan, the bill is seeking a robust framework for the harnessing, exploitation, and marketing of gold.
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Customers crowd Vietnamese banks to buy gold
Submitted by admin on Tue, 2024-06-04 15:32 Section: Daily DispatchesBy Quynh Tran and Giang Huy
VN Express, Hanoi
Monday, June 3, 2024
Banks in Hanoi and Ho Chi Minh City saw up to 50 customers queuing at a time Monday to buy gold, which the banks are selling at below market rates.
At 2 p.m. an Agribank branch in HCMC's District 1 saw dozens of customers queuing in the basement to await their turn to buy.
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