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☆ U.S. finalizes rules to curb AI investments in China, impose other restrictions
▼ + stars: | 2024-10-29 | by ( ) www.cnbc.com time to read: +1 min

A Chinese flag is displayed next to a "Made in China" sign seen on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. The Biden administration said on Monday it is finalizing rules that will limit U.S. investments in artificial intelligence and other technology sectors in China that could threaten U.S. national security. The new rules are effective Jan. 2 and will be overseen by Treasury's newly created Office of Global Transactions. Treasury said the "narrow set of technologies is core to the next generation of military, cybersecurity, surveillance, and intelligence applications." The rule covers technologies like "cutting-edge code-breaking computer systems or next-generation fighter jets," added Paul Rosen, a senior Treasury official.

Persons: Biden, Joe Biden, Treasury's, Paul Rosen Organizations: U.S . Treasury, Global Transactions, Treasury Locations: China, U.S

☆ The de-dollarization drive is spreading wider - Indonesia is the latest nation to join the anti-buck movement
▼ + stars: | 2023-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Indonesia appears to be the latest country to jump on the de-dollarization bandwagon. The island nation has launched a National Task Force to promote local-currency transactions. The move is expected to help make the rupiah more stable, and support local financial markets, Bank Indonesia said. The island nation has announced it's formed a National Task Force to widen the use of local currency transactions (LCT) with partner countries, according to Indonesia's central bank. While some experts perceive de-dollarization efforts as a threat to the greenback, others have dismissed the movement as a nothingburger.

Persons: it's, Perry Warjiyo, Vladimir Putin Organizations: Force, Bank, Service, Bank Indonesia Locations: Indonesia, Bank Indonesia, Wall, Silicon, China, Russia, India, dollarization, Beijing, New Delhi, Zimbabwe

☆ The US needs to get its ballooning debt problems under control to keep the dollar dominant, former IMF official says
▼ + stars: | 2023-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The dollar's dominance is being threatening by growing debt in the US, economist Barry Eichengreen said. High debt caused the downfall of the British sterling as a global currency in the early 1900s, scholars say. Mounting debt was responsible for the British sterling's downfall as the world's top currency in the early 1900s, Eichengreen said. AdvertisementAdvertisement"Thus, whether the dollar retains its global role will depend not simply on US relations with Russia, China, or the BRICS. But a weaker dollar isn't necessarily a bad thing, as US companies with business overseas can be hurt if the dollar is too strong against local currencies.

Persons: Barry Eichengreen, Eichengreen, there's Organizations: Service, International Monetary Fund, Syndicate, UC Berkeley, Congressional, Office Locations: Wall, Silicon, China, Russia

☆ One-two punch barely fazes Uncle Sam
▼ + stars: | 2023-08-02 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

Former U.S. President and Republican presidential candidate Donald Trump speaks at a campaign event in Council Bluffs, Iowa, U.S., July 7, 2023. Fitch Ratings knocked the U.S. government from its perfect AAA grade, becoming the second major ratings agency to demote the country’s debt. Just minutes later, Donald Trump was indicted for his attempts to overturn the 2020 election. Yet despite the latest one-two punch, a resilient economy and the dollar’s global standing make it hard to bet against Uncle Sam. Former U.S. president Donald Trump was indicted on Aug. 1 for his sweeping efforts to overturn the results of the 2020 presidential election.

Persons: Donald Trump, George Washington’s “, It’s, Treasury Department ., Uncle Sam, Trump, Peter Thal Larsen, Sharon Lam Organizations: U.S, Republican, Reuters, Fitch, AAA, Bank for International, Treasury Department, Treasury Department . Fitch reckons, Former U.S, Trump, Thomson Locations: Bluffs , Iowa, U.S, WASHINGTON, Washington, American

☆ De-dollarization signs are emerging as the greenback slides in currency reserves, JPMorgan says
▼ + stars: | 2023-06-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Signs of de-dollarization are showing in FX and central bank reserves, JPMorgan said. "Some signs of de-dollarization are emerging; this trend is likely to persist but USD should maintain its large footprint for the foreseeable future." "Some signs of de-dollarization are emerging; this trend is likely to persist but USD should maintain its large footprint for the foreseeable future," they said. And the dollar's share of foreign exchange reserves has also dropped. "De-dollarization is evident in FX reserves where USD share has declined to a record as share in exports declined, but is still emerging in commodities," JPMorgan said.

Persons: —, invoicing, Goldman Sachs Organizations: JPMorgan, Service, West, Russia's Locations: Ukraine

☆ Ray Dalio says fewer countries want to hold the dollar as China trade grows and Russia sanctions expose new risks
▼ + stars: | 2023-04-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Global central banks are less willing to hold the dollar, billionaire investor Ray Dalio said. One reason is that China's share of global trade is rising while the US share is falling. Another is that Western sanctions against Russia have exposed new risks for holding dollar assets. But, with China increasing the yuan's use in global trade, the future necessity for the greenback may be ebbing. Those sanctions "increased the perceived risk that those debt assets can be frozen in the way that they've been frozen for Russia," Dalio said.

☆ MoneyGram boss says no peak in sight for F1's U.S. growth
▼ + stars: | 2023-01-31 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

The number of female viewers was up 34% and averaged 28% of the audience, while significantly younger fans were also watching. "I have kids of college age and they have friends and those friends have watch parties on Sunday mornings. It’s not what I was doing in college, it really wasn’t there," MoneyGram's marketing head Greg Hall told Reuters. Holmes said MoneyGram's global business made Formula One a good fit to reach a younger, digitally-aware consumer demographic. "For us to push the brand as faster, more interesting, cooler... the association with Formula One makes a huge difference."

ISLAMABAD, Oct 20 (Reuters) - The Financial Action Task Force (FATF), a global money laundering and terrorism financing watchdog, starts a two-day meeting in Paris on Thursday and is expected to take up removal of Pakistan from a list of countries under "increased monitoring". In a meeting in June, the FATF said it was keeping Pakistan on the list - also known as the "grey list" - but said it might be removed after an on-site visit to verify progress. Register now for FREE unlimited access to Reuters.com RegisterHere are some key points:WHAT WOULD IT MEAN FOR PAKISTAN? If removed from the list, Pakistan would essentially receive a reputational boost and get a clean bill of health from the international community on terrorist financing. Removal from the FATF list would provide Pakistan a boost after the country's sovereign credit rating was downgraded by Moody's.

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