EUR/USD 1.17943
-0.156%
Gold 3653.15
-0.184%
Oil 63.421
-0.291%
USD/JPY 147.212
0.157%
GBP/USD 1.36052
-0.134%
GBP/JPY 200.290
0.034%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Indonesian rupiah fell 0.6% to 16,515 per dollar, its lowest level since May 15.On September 18th, Huawei launched the Atlas 950 SuperPod and Atlas 960 SuperPod supernodes at the Huawei Connect Conference. Huawei Vice Chairman and Rotating Chairman Eric Xu stated that, based on the worlds most powerful supernodes and clusters, Huawei is confident in providing sustainable and sufficient computing power for the long-term rapid development of artificial intelligence. Huawei also pioneered supernode technology in general-purpose computing, launching the TaiShan 950 SuperPod, the worlds first general-purpose computing supernode. Xu stated that, combined with the GaussDB distributed database, it can completely replace mainframes and minicomputers, as well as the Exadata database appliance, in various application scenarios, becoming the end-all for mainframes and minicomputers. At the end of his speech, Xu revealed that Huawei has overcome the enormous technical challenges of interconnecting large-scale supernodes and launched the Unified Bus (UnifiedBus) interconnection protocol for supernodes. Huawei will openly release the Unified Bus 2.0 technical specifications in the future.On September 18th, Barclays economists noted that risks to the Federal Reserves interest rate path are leaning toward delaying rate cuts. In a research note, they suggested this could occur if inflation data in early 2026 consistently show strong price increases, or if tariffs boost non-commodity prices amidst a moderate rise in unemployment. Conversely, they added, a sudden surge in unemployment could prompt the Federal Open Market Committee (FOMC) to adopt more aggressive rate cuts. Barclays projects that the FOMC will maintain interest rates unchanged through 2026 until monthly inflation data show signs of slowing and provide confidence that inflation is returning to its 2% target.On September 18th, Allspring Global Investments strategists George Bory and John Campbell wrote in a commentary that the stock market could benefit if the Federal Reserve adopts an accommodative policy approach that is "neither too much nor too little." They stated that continued stock market strength and increased market participation depend on the Feds ability to strike a delicate balance amid uncertainty about tariffs: providing enough accommodative policy to avoid a recession while keeping inflation under control. The strategists added that falling fixed-income rates could also enhance the attractiveness of high-yield stocks as an alternative.On September 18th, Goldman Sachs raised its expectations for SenseTime (00020.HK)s ToC business expansion, predicting the company will begin monetizing through monthly or annual subscription fees after offering new users a free trial. SenseTime has expanded beyond productivity tools to include ToC generative AI applications, including Raccoon Office AI and Kapi Accounting AI. These applications leverage deep analytical capabilities powered by SenseNovas foundational models to address AI-native issues. At the same time, the company offers AI industry solutions for high-demand scenarios, covering market analysis, sales analysis, product development, and enterprise management. This model differentiates it from other AI applications. The bank maintained its "buy" rating on SenseTime, raising its target price from HK$2.72 to HK$3.09. It also lowered its net loss forecasts for 2026 and 2027 to RMB 964 million and RMB 198 million, respectively, and raised its profit forecasts for 2028, 2029, 2030, and 3%, respectively.

Cuba Allows Cryptocurrency Services but Requires A License From the Central Bank

Cory Russell

Apr 28, 2022 09:50

After approving the personal use of cryptocurrencies last year, the Cuban central bank released rules for virtual asset service providers on Tuesday, a move that some experts believe might help the Communist-run Caribbean island avoid hefty US penalties.


Cryptocurrencies, which enable financial transactions to be carried out anonymously and decentralized, have previously been used to circumvent capital regulations and improve the efficiency of payments and transfers.


Those intending to use cryptocurrencies must get a license, according to the bank authorisation, which was published in the government's official gazette on Tuesday.


Before giving a license, the bank said it would assess the legality, socioeconomic interest, and project features of every request. The license would be valid for one year at first.


The introduction of mobile internet three years ago paved the path for cryptocurrency transactions in Cuba, and the number of cryptocurrency fans on the island is rising as the currencies assist the nation overcome difficulties posed by US sanctions.


Cubans are blocked off from traditional international payment systems and financial markets by the US trade embargo, which has been in place for decades. On the island, Cubans are unable to get credit or debit cards for foreign usage, and they struggle to do so overseas.


"If the central bank is developing a cryptocurrency-friendly legislative framework, it is because they have already concluded that it may help the nation," said Pavel Vidal, a former Cuban central bank economist who now teaches at the Pontificia Universidad Javeriana Cali in Colombia.


El Salvador, the first nation in the world to embrace bitcoin as legal cash, is one of Cuba's Latin American neighbors to be interested in cryptocurrencies.


Vidal said he doubted Cuba would follow El Salvador's lead and adopt bitcoin as its currency of choice or create its own cryptocurrency, instead preferring to focus on enabling remittances and international foreign trade activities.


"This may lower the cost of these international transactions and provide an alternative to dollar-based operations that are less susceptible to sanctions," he added.

Suggestion