Month: July 2022

Ghana confirms first Marburg virus cases.

The deadly Marburg virus, a highly contagious illness in the same family as the virus that causes Ebola, has been confirmed in Ghana’s first two...

As Asia markets advance, Hong Kong stocks increase by more than 2%; oil futures also increase by 2%.

Hong Kong’s Hang Seng increased by more than 2 percent on Monday, leading advances across Asia-Pacific markets. Futures for oil also increased by 2%. The Hang Seng Tech index increased by 3.02 percent, and the benchmark index in Hong Kong gained 2.7 percent to close at 20,846.18. Meituan stock increased 5.86 percent, while Longfor stock increased 4.11 percent. Markets on China’s mainland developed. The Shenzhen Component increased by 0.98 percent to 12,532.65, while the Shanghai Composite increased by 1.55% to 3,278.10. The Kosdaq was up 1.88 percent at 776.72 and the Kospi increased 1.9 percent to close the day at 2,375.25. The S&P/ASX 200 index increased 1.23 percent to 6,687.1 in Australia. The largest MSCI index of Asia-Pacific stocks outside of Japan increased by 1.8 percent. Vasu Menon, executive director of investment strategy at OCBC, said he sees more downside risk for...

Binance, a cryptocurrency exchange, was fined $3.4 million by the Dutch central bank for violating the law.

The largest cryptocurrency exchange in the world, Binance, was fined 3.3 million euros ($3.4 million) by the Dutch central bank on Monday for operating illegally in the country. Following a warning from De Nederlandsche Bank (DNB) in August of last year that Binance had provided cryptocurrency services in the nation without authorisation, the fine was imposed. The corporation received a category 3 fine, the highest degree of punishment offered by DNB. The charge exceeded the bank’s permitted range of 2 million to 4 million euros “due to the intensity and degree of responsibility of the non-compliance,” according to a statement from DNB. According to the central bank, the breach occurred during a “prolonged period” that lasted from May 21, 2020, through at least December 1, 2021. Because of this, the regulator stated, “DNB deems the non-compliance to be quite grave.” The size and “quite considerable customer base in the Netherlands” of Binance, according to DNB, were also taken into consideration. According to CoinGecko data, the business operates the largest cryptocurrency exchange in the world, with daily spot trading volumes of $15.5 billion. On June 2, according to DNB, Binance submitted an appeal against the fine. According to a representative for Binance, the business hopes to move past the conflict as it pursues its Dutch licence The spokesperson added via a statement that the decision “marks a long-awaited turn in our ongoing relationship with the Dutch Central Bank.” It has since tried to become a friend rather than foe to regulators —...