Binance sued $4.38 million for money laundering violation
Binance, a cryptocurrency exchange, was fined over C$6 million ($4.38 million) by Canada’s anti-money laundering agency for violating money laundering and terrorism funding laws. The company failed to register as a foreign money services business and failed to disclose receiving virtual currency valued at C$10,000 or more on 5,902 consecutive occasions between June and July…
No rates cut needed in short term, Holzmann said
Austrian central bank governor Robert Holzmann emphasized that the European Central Bank should not rapidly or sharply lower interest rates, citing the influence of the US Federal Reserve.
China’s premium EV will launch less than $30,000
China’s premium electric vehicle manufacturer Nio plans to launch a new mass-market model and a smaller EV in Europe for less than $30,000. The Onvo brand, which is currently known as “Alps,” will launch its new L60 model by the end of this month. The Firefly brand, codenamed “Alps,” will create smaller EVs for city…
Trump will support Taiwan if he won again
Former US ambassador to Taiwan, James Gilmore, believes Trump would endorse Taiwan again if he were to retake the White House. Despite Taipei’s objections, China claims Taiwan as its own territory. Trump’s administration from 2017 to 2021 provided substantial support for Taiwan, including weaponry deliveries. Gilmore, who was not an isolationist but advocated for American…
Canada’s services sector PMI rose to 49.3
S&P Global Canada’s services PMI data shows that while businesses saw some sales and increased hiring in April, the services sector grew slowly overall. Rising wages contributed to inflationary pressures. The headline business activity indicator reached a record point since June, rising to 49.3, the longest period in three years. The new business index improved…
South Korea aware for terrorism attack
South Korea’s foreign ministry has increased the terrorism alert level for five of its diplomatic missions in the region, including Seoul’s consulates in Vladivostok, Russia, Shenyang, Cambodia, Laos, and Vietnam. The National Intelligence Service (NIS) has stated that North Korea is preparing to carry out terrorist attacks against diplomatic officers and citizens. The North Korean…
Indonesia will open dual citizenship to attract qualified workers
Indonesia may offer dual citizenship to those of Indonesian heritage to attract more qualified workers. However, Indonesia does not recognize dual citizenship for adults. Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan stated that the government intends to provide dual citizenship to former Indonesian nationals residing abroad. The decision to permit dual citizenship has…
Shell raise 15% profits in US
A Texas state court has heard testimony from a former head of Shell’s U.S. crude trading division, revealing that the company’s annual revenue typically ranges between $950 million and $1 billion. This represents between 13% and 15% of Shell’s total pre-tax profits in the United States. In 2022, Shell made a pre-tax profit of over…