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Economics Gazette

Economy and Business news

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November 17, 2019

Currencies

Bitcoin

Europe institutions investigate ways to regulate the Bitcoin

Last year, the European financial regulators carefully monitored the movement of the Bitcoin and the other crypto-currencies, but without much intervention. However, the grace period has come to its end, and Europe has joined the institutions that want the regulation of the crypto-currencies, as fears that this is another bubble, which could affect the interests

Robert Shiller

Nobel Laureate Robert Shiller joined to critics of the Bitcoin

The Bitcoin will suffer a total collapse as it is very similar to tulip mania, which happened several centuries ago in the Netherlands, according to the American Nobel Laureate Robert Shiller. The professor of the American Yale University believes that other bubbles are on the market and that the Bitcoin is not the only one.

Bitcoin

Bitcoin price collapsed by 25% in a day

The Bitcoin continues to fluctuate slight over 10,000 USD falling 26% in Asian trade and continue its free fall during the European session. The depreciation of the cryptocurrency with largest market value continues, against the backdrop of the increasing intentions of regulators around the world to introduce rules to curb the growth of the cryptocurrency

France wants tougher rules for crypto-currencies

French Economy and Finance Minister Bruno Le Maire wants new regulations at virtual currencies to stop using them for tax evasion, terrorist financing and other crimes. Bruno Le Maire has announced in a broad speech today that has instructed a former central banker to develop any new rules and warn about the “risks of speculation

Chinese yuan

Bundesbank included the Chinese yuan in its reserves

The German central bank, Bundesbank, has decided to include the Chinese yuan in its own reserves, which gives further impetus to the international status of the currency. At an event in Hong Kong on Monday, a member of the Bundesbank Board, Andreas Dombret, said the decision was taken last year after a 500-million-euro investment by

Ethereum

The price of cryptocurrency Ethereum rose to record value

The world’s second-largest cryptocurrency, Ethereum, reached a record high after investors continue to avoid the Bitcoin. The Ethereum rose by 10% in one day to 1,249.50 USD, according to data from Bitfinex cryptographic trading. Currently, this is the second largest cryptocurrency by market capitalization after it was temporarily overturned last week by Ripple. The Ethereum

US dollar

Goldman Sachs warned for weakness of the US dollar

Goldman Sachs warned that 2018 is likely to be another weak year for the US dollar, despite expectations that the Federal Reserve will make several interest rate hikes in the next twelve months. “We still believe that the US dollar will be relatively weak against the major currencies, and probably against those in emerging markets”,

Chinese foreign exchange reserves

Chinese foreign exchange reserves rose in December 2017

Chinese foreign exchange reserves rose in December to the highest level in more than an year, well above the forecasts of economists, as tight regulations and the strong yuan continue to discourage capital outflows, according to the data of the central bank. The reserves rose by 20.2 billion USD in December to 3.14 trillion USD,

Russian ruble

Russian ruble faces new challenges in year of elections

Although the Russian ruble ended optimistically last year, in 2018 it is preparing for new challenges. The Russian currency will be pressed by possible new US sanctions and interventions by the Ministry of Finance. As a result, the dollar could rise to 65 rubles. But on the eve of the presidential election in March, the

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