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June 20th - According to Russian media reports, starting September 1st, the Russian government will impose an 8% export tax on certain diamonds in an effort to protect its domestic diamond cutting and processing industry. The policy stipulates that the Russian government will levy an 8% export tax on uncut and partially cut diamonds weighing between 0.45 carats and 10.8 carats, as well as diamonds of special sizes exceeding 10.8 carats. However, this measure will not apply to member states of the Eurasian Economic Union.On June 20, the Consulate General of the Peoples Republic of China in Mandalay issued a statement saying that recently, several Chinese citizens were arrested by Myanmar police after entering Myanmar through Mandalay Airport for illegally traveling to areas prohibited or restricted to foreigners. Simultaneously, several Chinese citizens using entry and exit permits to enter northern Myanmar through relevant land border crossings were also arrested by Myanmar police for suspected illegal entry while en route to other inland areas. The Consulate General of the Peoples Republic of China in Mandalay reminds Chinese citizens traveling to Myanmar to fully understand Myanmars national conditions and laws and regulations, and not to travel to areas prohibited or restricted to foreigners. They should also strictly abide by the scope of use of their travel documents, especially those entering Myanmar through China-Myanmar border crossings with entry and exit permits, who are limited to activities in relevant border cities on the Myanmar side and should not cross the border into inland areas to avoid violating Myanmar law.According to Syrian state television, the Syrian Ministry of Defense stated that an attack by unidentified gunmen in northeastern Aleppo resulted in the deaths of two soldiers.On June 20th, Tencent customer service stated that WeChat Xiaowei (intelligent assistant) is a native AI assistant being tested on a small scale by the WeChat team and is currently still in the testing phase. The customer service representative stated that WeChat Xiaowei supports operating native WeChat functions via text or voice dialogue, such as adjusting settings, sending messages, and making phone calls. Xiaowei currently uses multiple AI models, including Tencents self-developed and high-quality open-source models. "Currently, WeChat Xiaoweis gray-scale testing covers multiple systems; please refer to the actual page display for specific participation eligibility," the customer service representative said.Israeli military officials: Following the attack, the military has launched strikes against Hezbollah targets in southern Lebanon.

The IMF/World Bank Meetings to Test Risk Appetite as Fed Hawks Swoon

Skylar Shaw

Oct 11, 2022 14:48

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Last week's US economic figures exceeded forecasts. The US employment data and higher-than-expected ISM Non-Manufacturing PMI statistics allowed the Fed to raise interest rates by 75 basis points in November. The World Bank and IMF have been keeping an eye on central bank and economic activities.


Since the Jackson Hole Symposium, the Fed has maintained its stance. Fed Chair Powell issued a warning in August about the Fed's commitment to achieving the target inflation rate.


Powell also dispelled any expectations of a policy change at the time by warning the markets that inflation would need to be controlled by a protracted period of below-trend growth and a weaker labor market.


The Jackson Hole speech's response from the market was identical to that of Friday's employment data. The Powell speech resulted in a 3.94% decline in the NASDAQ 100. In reaction to an increase in hiring and a drop in the US unemployment rate to 3.5% last Friday, the NASDAQ fell by 3.80%.


The cryptocurrency market, which fell by $78 billion in reaction to Powell's speech and $11.5 billion in response to the employment data, experienced a distinct situation. Notably, the employment data offers the Fed leeway to aggressively front load rates. The crypto market was more affected by US inflation data.

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