The G7 intends to create a legal framework to safeguard cryptocurrency owners and tighten regulation of digital assets, reports Kyodo news service. The agency notes that the proposed changes to the legal system are made against the backdrop of the global financial system's crisis.  The problem will be discussed at the G7 summit, which will take place in Hiroshima in May, according to...

According to a recent UNCTAD report, global commerce hit a record $32 trillion in 2022. Trade in commodities totaled about $25 trillion (an increase of about 10% from 2021), and trade in services totaled $7 trillion (an increase of 15% from 2021). Experts claim that the first half of the year's steady growth, which stayed modest in the second, was what led to the record numbers. Comparing the...

The main interest rate of the US Federal Reserve (Fed) was increased by 25 basis points to 4.75–5%. The interest rate rose to its greatest level since 2007, and is expected to be 5.1% on average by the end of 2023. "The committee's long-term goals are to attain maximum employment and 2% inflation," reads a statement at the official Federal Open Goals Committee website. Inflation in the USA is...

According to Bloomberg’s sources, U.S. Treasury officials are looking into the potential of temporarily expanding bank deposit insurance to cover all deposits, not just those up to $250,000. Bloomberg's sources say that the Treasury Department is determining whether it has the power to make such a decision without the approval of Congress. All deposits must be insured, according to a coalition...

China's registered unemployment rate was 5.6% in January-February 2023, reports China's state statistics bureau. "The official urban unemployment figure for January–February 2023 was 5.6 percent. The official urban unemployment figure for February was 5.6 percent, up 0.1 percentage points from January," according to the agency's report. The unemployment rates for people in the age categories of...

Since mid-2018, the cost of watches from companies like Rolex, Patek Philippe, and Audemars Piguet has increased by an average of 20% annually, says the Boston Consulting Group (BCG) and WatchBox, a site for the resale of luxury watches. During this time, the S&P 500 Index had an average yearly return of 8%. The analysts observe that pricey watches end up being a desirable substitute for stocks....

Diesel imports from Russia to northwest Europe made up 53% of all imports prior to the imposition of sanctions on such imports by sea. European nations now import diesel fuel from Saudi Arabia, India, China, and South Korea; the Russian share dropped to 2% in February 2023. According to the US Department of Energy, imports of diesel from the nations on the list have increased to the following...

Turkey's central bank, the biggest gold buyer in the world, purchased 23 tons of the precious metal in January. According to Bloomberg, Turkey's central bank purchased 23 tons of gold in January, which made it the biggest buyer of the precious metal globally during this time. The nation currently has 565 tons of gold, which is the highest quantity ever recorded, according to the World Gold...

ECB spokesperson anticipates that interest rates will peak in the coming year, writes Handelsblatt. According to the German daily Handelsblatt, Robert Holzmann, the president of the European Central Bank, believes that interest rates will peak within the next 12 months. In an interview that, Holzmann expressed his optimism that interest rates would peak in the upcoming year. Inflation will...